Svenska Handelsbanken Correlations
| SVNLY Stock | USD 6.63 0.15 2.31% |
The current 90-days correlation between Svenska Handelsbanken and Bank of America is 0.03 (i.e., Significant diversification). The correlation of Svenska Handelsbanken 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.
Svenska Handelsbanken Correlation With Market
Weak diversification
The correlation between Svenska Handelsbanken PK and DJI is 0.31 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Svenska Handelsbanken PK and DJI in the same portfolio, assuming nothing else is changed.
Svenska |
The ability to find closely correlated positions to Svenska Handelsbanken could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Svenska Handelsbanken 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 Svenska Handelsbanken - 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 Svenska Handelsbanken PK to buy it.
Moving together with Svenska Pink Sheet
| 0.68 | BML-PG | Bank of America | PairCorr |
| 0.69 | BAC-PK | Bank of America | PairCorr |
| 0.92 | IDCBF | Industrial and Commercial | PairCorr |
| 0.9 | IDCBY | Industrial Commercial | PairCorr |
| 0.84 | MUFG | Mitsubishi UFJ Financial | PairCorr |
| 0.87 | WM | Waste Management | PairCorr |
| 0.85 | GLU | Gabelli Global Utility | PairCorr |
| 0.8 | ANPMF | Andean Precious Metals | PairCorr |
| 0.84 | ISMAY | Indra Sistemas SA | PairCorr |
| 0.75 | HROWM | Harrow Health, 11875 | PairCorr |
| 0.74 | GTN | Gray Television | PairCorr |
| 0.9 | AEM | Agnico Eagle Mines | PairCorr |
Moving against Svenska Pink Sheet
| 0.76 | LNDNF | Lundin Energy AB | PairCorr |
| 0.52 | BAC | Bank of America Aggressive Push | PairCorr |
| 0.33 | INBX | Inhibrx Symbol Change | PairCorr |
| 0.54 | SHWZ | Medicine Man Technologies | PairCorr |
Related Correlations Analysis
| Click cells to compare fundamentals | Check Volatility | Backtest Portfolio |
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
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Risk-Adjusted Indicators
There is a big difference between Svenska Pink Sheet performing well and Svenska Handelsbanken 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 Svenska Handelsbanken'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| CICHF | 2.16 | 0.29 | 0.06 | (0.57) | 2.62 | 6.17 | 18.87 | |||
| IDCBF | 1.77 | 0.36 | 0.09 | 0.71 | 1.58 | 5.63 | 14.77 | |||
| BML-PH | 0.37 | 0.02 | 0.02 | 0.12 | 0.51 | 0.88 | 3.51 | |||
| BML-PG | 0.36 | 0.01 | 0.01 | 0.17 | 0.45 | 0.93 | 2.56 | |||
| ACGBF | 2.28 | 0.39 | 0.05 | (0.59) | 2.77 | 7.84 | 27.14 | |||
| BML-PJ | 0.47 | 0.01 | 0.01 | 0.13 | 0.60 | 0.97 | 2.89 | |||
| CMWAY | 1.23 | (0.10) | 0.00 | (0.11) | 0.00 | 2.14 | 5.69 | |||
| ANZGY | 1.11 | (0.04) | 0.00 | (0.05) | 0.00 | 2.46 | 6.71 | |||
| WEBNF | 2.36 | 0.03 | 0.00 | 0.34 | 3.48 | 6.85 | 27.28 | |||
| NAUBF | 0.93 | (0.08) | 0.00 | (1.59) | 0.00 | 2.00 | 20.98 |
Be your own money manager
Our tools can tell you how much better you can do entering a position in Svenska Handelsbanken 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.Did you try this?
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Svenska Handelsbanken Corporate Management
| Martin Wasteson | Chief Legal Counsel | Profile | |
| Louise Sander | Head of Pensions & Life at Handelsbanken Capital Markets | Profile | |
| Carl Cederschiold | Deputy CFO | Profile | |
| Mattias Forsberg | Chief Director | Profile |