AB SKF Correlations

Stocks . Germany . 
Stock . AB SKF
SKFB Stock  EUR 20.84  0.70  3.25%   
The current 90-days correlation between AB SKF and Caseys General Stores is 0.06 (i.e., Significant diversification). The correlation of AB SKF 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.

AB SKF Correlation With Market

Significant diversification

The correlation between AB SKF and DJI is 0.02 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding AB SKF and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to AB SKF could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace AB SKF 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 AB SKF - 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 AB SKF to buy it.

Moving together with SKFB Stock

  0.97SKFA AB SKFPairCorr
  0.75MK2A MakitaPairCorr
  0.78RY4C Ryanair Holdings plcPairCorr
  0.7JUS1 AEON CoPairCorr
  0.84AC1 AstronicsPairCorr
  0.7VTCB Vtech HoldingsPairCorr
  0.93SEBA S E BANKENPairCorr
  0.88TCW TOKYU STRUCTIONPairCorr
  0.93GOB Compagnie de SaintPairCorr
  0.924HM Vicat SAPairCorr
  0.85PNE3 PNE AGPairCorr
  0.77LX6 AUSTAL LIMITEDPairCorr
  0.869EE ZINZINO AB BPairCorr
  0.9BRU mBank SAPairCorr
  0.82E908 Lyxor 1PairCorr
  0.92DBPE Xtrackers LevDAXPairCorr

Moving against SKFB Stock

  0.75BZG2 PT Bank CentralPairCorr
  0.67OB8 PT Barito PacificPairCorr
  0.64PJM PT Bumi ResourcesPairCorr
  0.58TCID Telkom Indonesia TbkPairCorr
  0.57SPU Snap onPairCorr
  0.56BYRA PT Bank RakyatPairCorr
  0.53TO2 ToroPairCorr
  0.9DBPD Xtrackers ShortDAXPairCorr
  0.49VMR1 Value Management ResearchPairCorr
  0.32D5LA REATO GROUP ABPairCorr

Related Correlations Analysis

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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   
CKS2
+ 1.0
ODP
MLT
+ 0.63
K9R
CS2
+ 0.5
MLT
CS2
+ 0.48
K9R
LN4
+ 0.08
0SV
ODP
+ 0.0
K9R
  
High negative correlations   
MLT
- 0.57
0SV
0SV
- 0.4
K9R
LN4
- 0.36
MLT
LN4
- 0.27
K9R
CS2
- 0.21
0SV
CS2
- 0.13
LN4

Risk-Adjusted Indicators

There is a big difference between SKFB Stock performing well and AB SKF 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 AB SKF'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.

Be your own money manager

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

Elected by the shareholders, the AB SKF's board of directors comprises two types of representatives: AB SKF inside directors who are chosen from within the company, and outside directors, selected externally and held independent of SKFB. The board's role is to monitor AB SKF's management team and ensure that shareholders' interests are well served. AB SKF's inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, AB SKF's outside directors are responsible for providing unbiased perspectives on the board's policies.
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