RWE AG Correlations

RWEA Stock

29.20 0.80 2.82%

The current 90-days correlation between RWE AG and MOLSON RS BEVERAGE is -0.13 (i.e., Good diversification). The correlation of RWE AG is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak. If the correlation is 0, the equities are not correlated; they are entirely random.

RWE AG Correlation With Market

Average diversification

The correlation between RWE AG and DJI is 0.13 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding RWE AG and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to RWE AG could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace RWE AG when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back RWE AG - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling RWE AG to buy it.

Moving together with RWE Stock

0.64	SSUN	Samsung Electronics Earnings Call This Week	Pair Corr
0.63	BYRA	PT Bank Rakyat	Pair Corr
0.61	BYRA	BANK RAKYAT IND	Pair Corr

Moving against RWE Stock

0.54	DBPE	Xtrackers LevDAX	Pair Corr
0.52	CVU	United Breweries	Pair Corr
0.46	APC	Apple Inc Earnings Call Next Week	Pair Corr
0.45	APC	Apple Inc Earnings Call Next Week	Pair Corr
0.44	APC	Apple Inc Earnings Call Next Week	Pair Corr
0.44	APC	Apple Inc Earnings Call Next Week	Pair Corr
0.44	APC	Apple Inc Earnings Call Next Week	Pair Corr
0.43	APC	Apple Inc Earnings Call Next Week	Pair Corr
0.43	MSF	Microsoft Earnings Call This Week	Pair Corr
0.4	MSF	Microsoft Earnings Call This Week	Pair Corr
0.39	MSF	Microsoft Earnings Call This Week	Pair Corr
0.38	MSF	Microsoft Earnings Call This Week	Pair Corr
0.33	E908	Lyxor 1	Pair Corr

Related Correlations Analysis

	7TT	RE3	NY70	TSI	NY7	NUC	ERT	SGM
7TT		0.45	0.66	-0.02	0.55	0.0	0.54	-0.33	7TT
RE3	0.45		0.67	0.02	0.69	0.0	0.67	-0.34	RE3
NY70	0.66	0.67		0.06	0.85	0.0	0.74	-0.48	NY70
TSI	-0.02	0.02	0.06		-0.28	0.0	-0.5	0.2	TSI
NY7	0.55	0.69	0.85	-0.28		0.0	0.89	-0.47	NY7
NUC	0.0	0.0	0.0	0.0	0.0		0.0	0.0	NUC
ERT	0.54	0.67	0.74	-0.5	0.89	0.0		-0.45	ERT
SGM	-0.33	-0.34	-0.48	0.2	-0.47	0.0	-0.45		SGM
	7TT	RE3	NY70	TSI	NY7	NUC	ERT	SGM

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Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.

High positive correlations

ERT	+ 0.89	NY7
NY7	+ 0.85	NY70
ERT	+ 0.74	NY70
NY7	+ 0.69	RE3
NY70	+ 0.67	RE3
ERT	+ 0.67	RE3

High negative correlations

ERT	- 0.5	TSI
SGM	- 0.48	NY70
SGM	- 0.47	NY7
SGM	- 0.45	ERT
SGM	- 0.34	RE3
SGM	- 0.33	7TT

Risk-Adjusted Indicators

There is a big difference between RWE Stock performing well and RWE AG Company doing well as a business compared to the competition. There are so many exceptions to the norm that investors cannot definitively determine what's good or bad unless they analyze RWE AG's multiple risk-adjusted performance indicators across the competitive landscape. These indicators are quantitative in nature and help investors forecast volatility and risk-adjusted expected returns across various positions.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
7TT	2.06	(0.02)	(0.01)	0.00	2.52	(2.96)	3.10	(3.70)	37.54
RE3	1.84	0.16	0.04	(5.36)	3.08	(1.96)	3.95	(3.67)	22.26
NY70	0.78	0.01	(0.01)	0.11	1.17	(1.63)	1.90	(2.89)	8.81
TSI	1.59	(0.02)	0.00	(0.06)	0.00	0.00	3.75	(3.39)	10.63
NY7	1.02	0.10	0.05	(1.41)	1.22	(1.12)	2.22	(2.21)	12.16
NUC	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
ERT	0.93	0.05	0.02	0.20	1.14	(1.03)	1.88	(1.96)	8.81
SGM	1.65	(0.07)	0.00	0.63	0.00	0.00	3.88	(3.14)	10.29

Be your own money manager

Our tools can tell you how much better you can do entering a position in RWE AG without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.

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