Afentra PLC Correlations

TB8A Stock

EUR 0.52 0.01 1.89%

The current 90-days correlation between Afentra PLC and AUSNUTRIA DAIRY is 0.18 (i.e., Average diversification). The correlation of Afentra PLC 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.

Afentra PLC Correlation With Market

Average diversification

The correlation between Afentra PLC and DJI is 0.16 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Afentra PLC and DJI in the same portfolio, assuming nothing else is changed.

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

Moving against Afentra Stock

0.47	DBPD	Xtrackers ShortDAX	Pair Corr
0.46	XTP	Sino AG	Pair Corr
0.4	OD3	ODFJELL DRILLLTD	Pair Corr
0.32	PRE1	PRECISION DRILLING	Pair Corr

Related Correlations Analysis

	6AH	FOJ1	SWN	MR3	ZVF	TF7A	SWN	KY1
6AH		0.49	0.59	0.61	0.5	-0.1	0.64	-0.6	6AH
FOJ1	0.49		0.55	0.65	0.54	-0.05	0.6	-0.71	FOJ1
SWN	0.59	0.55		0.53	0.72	0.48	0.96	-0.83	SWN
MR3	0.61	0.65	0.53		0.56	0.08	0.57	-0.63	MR3
ZVF	0.5	0.54	0.72	0.56		0.25	0.73	-0.6	ZVF
TF7A	-0.1	-0.05	0.48	0.08	0.25		0.48	-0.37	TF7A
SWN	0.64	0.6	0.96	0.57	0.73	0.48		-0.87	SWN
KY1	-0.6	-0.71	-0.83	-0.63	-0.6	-0.37	-0.87		KY1
	6AH	FOJ1	SWN	MR3	ZVF	TF7A	SWN	KY1

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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

SWN	+ 0.96	SWN
SWN	+ 0.73	ZVF
ZVF	+ 0.72	SWN
MR3	+ 0.65	FOJ1
SWN	+ 0.64	6AH
MR3	+ 0.61	6AH

High negative correlations

KY1	- 0.87	SWN
KY1	- 0.83	SWN
KY1	- 0.71	FOJ1
KY1	- 0.63	MR3
KY1	- 0.6	ZVF
KY1	- 0.6	6AH

Risk-Adjusted Indicators

There is a big difference between Afentra Stock performing well and Afentra PLC 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 Afentra PLC'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
6AH	0.52	0.15	0.00	(1.02)	0.00	0.00	0.00	0.00	16.89
FOJ1	1.06	0.16	0.02	1.36	1.35	(1.28)	1.87	(1.82)	8.87
SWN	1.49	0.23	0.09	0.91	1.41	(1.76)	4.01	(2.71)	10.25
MR3	1.45	0.07	(0.01)	0.31	2.15	(1.77)	2.27	(2.29)	24.49
ZVF	0.98	(0.01)	(0.01)	0.11	1.42	(4.73)	4.76	(4.55)	9.31
TF7A	1.10	0.08	(0.04)	(0.66)	1.40	(1.09)	2.20	(2.31)	9.02
SWN	1.35	0.30	0.08	(1.11)	1.51	(1.51)	3.82	(2.44)	9.44
KY1	1.25	(0.19)	0.00	(2.76)	0.00	0.00	2.29	(2.91)	8.47

Be your own money manager

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