Talanx AG Correlations

TLX Stock

EUR 82.95 0.85 1.04%

The current 90-days correlation between Talanx AG and AUTO TRADER ADR is 0.2 (i.e., Modest diversification). The correlation of Talanx AG 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.

Talanx AG Correlation With Market

Good diversification

The correlation between Talanx AG and DJI is -0.08 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Talanx AG and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Talanx Stock

0.84	APC	Apple Inc	Pair Corr
0.85	APC	Apple Inc	Pair Corr
0.85	APC	Apple Inc	Pair Corr
0.84	APC	Apple Inc	Pair Corr
0.81	MSF	Microsoft	Pair Corr
0.79	MSF	Microsoft	Pair Corr
0.82	MSF	Microsoft	Pair Corr
0.81	MSF	Microsoft	Pair Corr
0.81	MSF	Microsoft	Pair Corr
0.8	AMZ	Amazon Inc	Pair Corr
0.75	E908	Lyxor 1	Pair Corr
0.72	DBPE	Xtrackers LevDAX	Pair Corr

Moving against Talanx Stock

0.86	PQ9	BANK MANDIRI	Pair Corr
0.78	DBPD	Xtrackers ShortDAX	Pair Corr
0.68	BYRA	PT Bank Rakyat	Pair Corr
0.66	PQ9	PT Bank Mandiri	Pair Corr
0.65	PQ9	BANK MANDIRI	Pair Corr
0.64	BYRA	BANK RAKYAT IND	Pair Corr
0.64	BYRA	BANK RAKYAT IND	Pair Corr
0.58	PQ9	BANK MANDIRI	Pair Corr
0.41	BYRA	PT Bank Rakyat	Pair Corr
0.34	TCID	Telkom Indonesia Tbk	Pair Corr

Related Correlations Analysis

	EV9	CNJ	BW8	ISHA	2UA0	FOO0	E4C	JUU
EV9		0.61	0.49	0.52	-0.68	0.82	0.64	0.42	EV9
CNJ	0.61		0.82	-0.16	-0.52	0.75	0.34	0.09	CNJ
BW8	0.49	0.82		-0.24	-0.23	0.63	0.33	-0.09	BW8
ISHA	0.52	-0.16	-0.24		-0.31	0.36	0.62	0.46	ISHA
2UA0	-0.68	-0.52	-0.23	-0.31		-0.59	-0.28	-0.32	2UA0
FOO0	0.82	0.75	0.63	0.36	-0.59		0.57	0.49	FOO0
E4C	0.64	0.34	0.33	0.62	-0.28	0.57		0.1	E4C
JUU	0.42	0.09	-0.09	0.46	-0.32	0.49	0.1		JUU
	EV9	CNJ	BW8	ISHA	2UA0	FOO0	E4C	JUU

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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

FOO0	+ 0.82	EV9
BW8	+ 0.82	CNJ
FOO0	+ 0.75	CNJ
E4C	+ 0.64	EV9
FOO0	+ 0.63	BW8
E4C	+ 0.62	ISHA

High negative correlations

2UA0	- 0.68	EV9
FOO0	- 0.59	2UA0
2UA0	- 0.52	CNJ
JUU	- 0.32	2UA0
2UA0	- 0.31	ISHA
E4C	- 0.28	2UA0

Risk-Adjusted Indicators

There is a big difference between Talanx Stock performing well and Talanx AG 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 Talanx AG'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
EV9	2.64	0.37	0.11	1.96	2.81	(3.60)	6.31	(5.33)	18.36
CNJ	1.02	0.16	0.11	0.96	0.96	(1.41)	2.13	(1.45)	5.80
BW8	0.88	0.09	0.05	(0.36)	0.87	(1.41)	1.98	(1.49)	6.64
ISHA	1.71	0.09	0.03	0.55	2.02	(2.36)	4.47	(4.19)	12.64
2UA0	0.94	(0.14)	0.00	0.35	0.00	0.00	1.70	(2.37)	10.37
FOO0	1.91	0.32	0.12	(0.35)	1.98	(2.57)	4.03	(3.73)	24.18
E4C	0.86	0.08	0.04	0.41	0.94	(1.50)	3.11	(2.34)	7.30
JUU	1.37	(0.08)	0.00	0.45	0.00	0.00	2.70	(2.47)	19.87

Be your own money manager

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