Stalprodukt Correlations

STP Stock

247.50 6.00 2.48%

The current 90-days correlation between Stalprodukt SA and MCI Management SA is -0.11 (i.e., Good diversification). The correlation of Stalprodukt 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.

Stalprodukt Correlation With Market

Average diversification

The correlation between Stalprodukt SA 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 Stalprodukt SA and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Stalprodukt Stock

0.84	KTY	Grupa KTY SA	Pair Corr
0.87	AST	Astarta Holding NV	Pair Corr
0.62	MBK	mBank SA	Pair Corr
0.62	AGT	Agroton Public	Pair Corr

Related Correlations Analysis

	MCI	MOV	GTC	CRI	MBW	DGE	CLD
MCI		0.48	-0.03	0.53	-0.41	0.43	-0.18	MCI
MOV	0.48		-0.05	0.74	-0.46	0.46	-0.18	MOV
GTC	-0.03	-0.05		-0.46	0.36	0.13	0.92	GTC
CRI	0.53	0.74	-0.46		-0.73	0.41	-0.61	CRI
MBW	-0.41	-0.46	0.36	-0.73		-0.56	0.49	MBW
DGE	0.43	0.46	0.13	0.41	-0.56		0.1	DGE
CLD	-0.18	-0.18	0.92	-0.61	0.49	0.1		CLD
	MCI	MOV	GTC	CRI	MBW	DGE	CLD

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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

CLD	+ 0.92	GTC
CRI	+ 0.74	MOV
CRI	+ 0.53	MCI
CLD	+ 0.49	MBW
MOV	+ 0.48	MCI
DGE	+ 0.46	MOV

High negative correlations

MBW	- 0.73	CRI
CLD	- 0.61	CRI
DGE	- 0.56	MBW
CRI	- 0.46	GTC
MBW	- 0.46	MOV
MBW	- 0.41	MCI

Risk-Adjusted Indicators

There is a big difference between Stalprodukt Stock performing well and Stalprodukt 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 Stalprodukt'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
MCI	1.13	0.07	0.07	0.46	1.18	(1.46)	2.96	(2.28)	8.20
MOV	2.32	0.02	0.01	0.02	2.33	(3.07)	5.81	(4.10)	28.64
GTC	1.05	(0.15)	0.00	0.77	0.00	0.00	2.26	(1.98)	7.61
CRI	1.90	0.40	0.18	0.96	1.69	(2.71)	5.37	(3.29)	22.55
MBW	0.90	(0.20)	0.00	0.40	0.00	0.00	3.25	(3.66)	12.59
DGE	1.89	0.10	0.04	6.72	2.53	(2.12)	4.55	(4.85)	13.03
CLD	2.51	(0.59)	0.00	(15.59)	0.00	0.00	5.01	(7.06)	14.56

Be your own money manager

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