Skanska AB Correlations

The current 90-days correlation between Skanska AB ser and ACS Actividades De is 0.5 (i.e., Very weak diversification). The correlation of Skanska 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. If the correlation is 0, the equities are not correlated; they are entirely random.

Skanska AB Correlation With Market

Weak diversification

The correlation between Skanska AB ser and DJI is 0.3 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Skanska AB ser and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to Skanska 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 Skanska 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 Skanska 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 Skanska AB ser to buy it.

Moving together with Skanska Pink Sheet

0.86	VCISY	Vinci SA ADR	Pair Corr
0.62	NVRO	Nevro Corp	Pair Corr
0.74	KO	Coca Cola	Pair Corr
0.74	VZ	Verizon Communications	Pair Corr
0.63	DD	Dupont De Nemours	Pair Corr

Moving against Skanska Pink Sheet

0.91	LTOUF	Larsen Toubro Limited	Pair Corr
0.77	PWR	Quanta Services	Pair Corr
0.76	EME	EMCOR Group	Pair Corr
0.7	MSFT	Microsoft	Pair Corr
0.5	MRK	Merck Company	Pair Corr
0.49	CAT	Caterpillar	Pair Corr
0.48	AXP	American Express	Pair Corr
0.45	DIS	Walt Disney	Pair Corr
0.44	BAC	Bank of America Aggressive Push	Pair Corr
0.39	AA	Alcoa Corp	Pair Corr
0.32	HD	Home Depot	Pair Corr

Related Correlations Analysis

	BBCPW	ACSAY	ARCAY	BADFF	ACXIF	ARCVF	VCISF	CRWOF	DLOC
BBCPW		0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	BBCPW
ACSAY	0.0		-0.63	0.3	0.49	-0.85	0.49	0.57	-0.55	ACSAY
ARCAY	0.0	-0.63		-0.48	-0.52	0.71	-0.39	-0.52	0.21	ARCAY
BADFF	0.0	0.3	-0.48		0.19	-0.41	0.35	0.08	-0.21	BADFF
ACXIF	0.0	0.49	-0.52	0.19		-0.39	0.68	0.61	0.11	ACXIF
ARCVF	0.0	-0.85	0.71	-0.41	-0.39		-0.45	-0.45	0.59	ARCVF
VCISF	0.0	0.49	-0.39	0.35	0.68	-0.45		0.32	-0.08	VCISF
CRWOF	0.0	0.57	-0.52	0.08	0.61	-0.45	0.32		-0.01	CRWOF
DLOC	0.0	-0.55	0.21	-0.21	0.11	0.59	-0.08	-0.01		DLOC
	BBCPW	ACSAY	ARCAY	BADFF	ACXIF	ARCVF	VCISF	CRWOF	DLOC

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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

ARCVF	+ 0.71	ARCAY
VCISF	+ 0.68	ACXIF
CRWOF	+ 0.61	ACXIF
DLOC	+ 0.59	ARCVF
CRWOF	+ 0.57	ACSAY
ACXIF	+ 0.49	ACSAY

High negative correlations

ARCVF	- 0.85	ACSAY
ARCAY	- 0.63	ACSAY
DLOC	- 0.55	ACSAY
CRWOF	- 0.52	ARCAY
ACXIF	- 0.52	ARCAY
BADFF	- 0.48	ARCAY

Risk-Adjusted Indicators

There is a big difference between Skanska Pink Sheet performing well and Skanska 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 Skanska 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
BBCPW	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
ACSAY	1.53	0.37	0.21	0.54	1.61	(1.72)	4.36	(2.09)	11.53
ARCAY	1.01	(0.24)	0.00	0.46	0.00	0.00	2.71	(6.22)	10.41
BADFF	1.11	0.26	0.10	0.48	1.21	(3.77)	4.77	(2.53)	12.48
ACXIF	1.53	0.33	0.07	(15.14)	2.13	(3.34)	5.49	(5.41)	17.66
ARCVF	0.56	(0.21)	0.00	2.54	0.00	0.00	0.89	(3.75)	6.65
VCISF	1.08	0.49	0.00	(14.37)	0.00	0.00	5.24	(0.19)	12.59
CRWOF	0.65	0.08	0.00	(0.21)	0.00	0.00	0.00	0.00	17.78
DLOC	4.58	(1.06)	0.00	(0.46)	0.00	0.00	0.00	(20.00)	141.67

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Our tools can tell you how much better you can do entering a position in Skanska 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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