Sandvik AB Correlations

SDVKF Stock

USD 23.00 0.38 1.68%

The correlation of Sandvik AB 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.

Sandvik AB Correlation With Market

Good diversification

The correlation between Sandvik AB and DJI is -0.02 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Sandvik AB and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to Sandvik AB could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Sandvik AB 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 Sandvik AB - 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 Sandvik AB to buy it.

Moving together with Sandvik Pink Sheet

0.69	GE	GE Aerospace	Pair Corr
0.84	SMAWF	Siemens AG Class	Pair Corr
0.69	BKLRF	Berkeley Energy	Pair Corr
0.88	BLTH	American Battery Mat	Pair Corr
0.73	GOTRF	Goliath Resources	Pair Corr
0.72	CHT	Chunghwa Telecom	Pair Corr
0.73	COOTW	Australian Oilseeds	Pair Corr
0.64	CLLNY	Cellnex Telecom SA	Pair Corr
0.76	GRWC	Grow Capital	Pair Corr
0.88	BTT	Blackrock Municipal	Pair Corr
0.76	FARM	Farmer Bros	Pair Corr
0.77	CMSQF	Computershare Limited	Pair Corr
0.74	MDLZ	Mondelez International	Pair Corr
0.88	SGAPY	Singapore Telecommunicatio	Pair Corr
0.76	CIMO	Chimera Investment	Pair Corr
0.85	FREKF	freee KK	Pair Corr

Moving against Sandvik Pink Sheet

0.82	ETN	Eaton PLC	Pair Corr
0.49	EMR	Emerson Electric	Pair Corr
0.49	SES	SES AI Corp	Pair Corr
0.48	GEV	GE Vernova LLC	Pair Corr
0.48	BOWL	Bowlero Corp Symbol Change	Pair Corr
0.47	LNDNF	Lundin Energy AB	Pair Corr
0.47	MVST	Microvast Holdings	Pair Corr
0.45	INBX	Inhibrx Symbol Change	Pair Corr
0.4	ENMI	Energy Management	Pair Corr
0.39	SBGSY	Schneider Electric	Pair Corr
0.35	SBGSF	Schneider Electric	Pair Corr
0.34	FUAPF	Global Cannabis Appl	Pair Corr
0.75	QMCO	Quantum Trending	Pair Corr
0.54	CHNXF	ChitogenX	Pair Corr

Related Correlations Analysis

	SIEGY	SBGSY	KNYJF	ATLPF	SDVKY	FANUY	ROK	VWDRY	PH	ETN
SIEGY		0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	SIEGY
SBGSY	0.0		-0.19	-0.39	-0.21	0.03	0.38	-0.36	0.33	0.66	SBGSY
KNYJF	0.0	-0.19		0.72	0.62	0.21	-0.17	0.48	-0.45	-0.67	KNYJF
ATLPF	0.0	-0.39	0.72		0.69	0.29	-0.08	0.56	-0.21	-0.72	ATLPF
SDVKY	0.0	-0.21	0.62	0.69		0.79	-0.25	0.57	0.0	-0.79	SDVKY
FANUY	0.0	0.03	0.21	0.29	0.79		-0.1	0.24	0.33	-0.5	FANUY
ROK	0.0	0.38	-0.17	-0.08	-0.25	-0.1		-0.47	0.58	0.39	ROK
VWDRY	0.0	-0.36	0.48	0.56	0.57	0.24	-0.47		-0.41	-0.54	VWDRY
PH	0.0	0.33	-0.45	-0.21	0.0	0.33	0.58	-0.41		0.29	PH
ETN	0.0	0.66	-0.67	-0.72	-0.79	-0.5	0.39	-0.54	0.29		ETN
	SIEGY	SBGSY	KNYJF	ATLPF	SDVKY	FANUY	ROK	VWDRY	PH	ETN

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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

FANUY	+ 0.79	SDVKY
ATLPF	+ 0.72	KNYJF
SDVKY	+ 0.69	ATLPF
ETN	+ 0.66	SBGSY
SDVKY	+ 0.62	KNYJF
PH	+ 0.58	ROK

High negative correlations

ETN	- 0.79	SDVKY
ETN	- 0.72	ATLPF
ETN	- 0.67	KNYJF
ETN	- 0.54	VWDRY
ETN	- 0.5	FANUY
VWDRY	- 0.47	ROK

Risk-Adjusted Indicators

There is a big difference between Sandvik Pink Sheet performing well and Sandvik AB 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 Sandvik AB'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
SIEGY	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
SBGSY	1.74	0.07	0.04	0.07	2.94	(1.59)	3.37	(3.80)	12.73
KNYJF	0.40	0.12	0.00	(3.76)	0.00	0.00	1.67	0.00	5.31
ATLPF	0.83	0.16	0.00	0.58	0.00	0.00	2.75	(1.13)	13.64
SDVKY	1.41	0.40	0.27	0.28	1.16	(1.70)	3.49	(2.33)	12.36
FANUY	1.24	0.13	0.16	(0.81)	1.35	(1.53)	3.07	(2.02)	11.40
ROK	1.30	(0.08)	0.00	(0.18)	0.00	0.00	2.01	(2.63)	16.50
VWDRY	2.31	0.25	0.13	1.05	2.26	(2.87)	5.09	(3.96)	13.68
PH	1.27	(0.01)	0.00	(0.11)	0.00	0.00	2.27	(3.50)	10.15
ETN	1.69	(0.19)	0.00	(0.31)	0.00	0.00	3.41	(3.54)	19.37

Be your own money manager

Our tools can tell you how much better you can do entering a position in Sandvik AB 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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Sandvik AB Corporate Management

Jessica Alm	Head of Group Communications and Executive VP	Profile
Louise Tjeder	Head VP	Profile
Cecilia Felton	Ex CFO	Profile
Nadine Crauwels	Pres Segment	Profile
Bernth Nilsson	Head Assurance	Profile
sa LLM	Gen VP	Profile

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