KOWORLD AG Correlations

VVV3 Stock

EUR 28.60 0.40 1.42%

The current 90-days correlation between KOWORLD AG and CRAWFORD A NV is 0.01 (i.e., Significant diversification). The correlation of KOWORLD 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.

KOWORLD AG Correlation With Market

Modest diversification

The correlation between KOWORLD AG and DJI is 0.25 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding KOWORLD AG and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to KOWORLD 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 KOWORLD 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 KOWORLD 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 KOWORLD AG to buy it.

Moving against KOWORLD Stock

0.75	1S6	Steadfast Group	Pair Corr
0.52	AVLA	Air Lease	Pair Corr
0.45	WTY	Willis Towers Watson	Pair Corr
0.37	ATR0	ATHENE HOLDING PRFSERC	Pair Corr
0.31	GAH	Arthur J Gallagher	Pair Corr
0.63	SCY	Stratasys	Pair Corr
0.57	A3B	ACCO Brands	Pair Corr
0.53	WDP	Walt Disney	Pair Corr
0.44	ZIM	Zimmer Biomet Holdings	Pair Corr
0.36	GTT	TEGNA Inc	Pair Corr
0.34	FQI	Digital Realty Trust	Pair Corr
0.33	WB1	Westamerica Bancorporation	Pair Corr
0.33	3EC	Eaton PLC	Pair Corr
0.69	1DH	Clarkson PLC	Pair Corr
0.64	5GH	GUARDANT HEALTH CL	Pair Corr
0.63	GKD	Grand Canyon Education	Pair Corr
0.47	MSF	Microsoft	Pair Corr
0.45	QBE	QBE Insurance Group	Pair Corr
0.39	1WT	WisdomTree Investments	Pair Corr

Related Correlations Analysis

	MSN	4VK	GAH	WTY	1S6	CWK0	VVV3	18M
MSN		0.84	0.93	0.7	0.42	0.81	-0.15	-0.71	MSN
4VK	0.84		0.89	0.89	0.42	0.88	-0.21	-0.82	4VK
GAH	0.93	0.89		0.84	0.56	0.83	-0.31	-0.71	GAH
WTY	0.7	0.89	0.84		0.62	0.8	-0.45	-0.62	WTY
1S6	0.42	0.42	0.56	0.62		0.33	-0.75	-0.12	1S6
CWK0	0.81	0.88	0.83	0.8	0.33		-0.05	-0.71	CWK0
VVV3	-0.15	-0.21	-0.31	-0.45	-0.75	-0.05		-0.09	VVV3
18M	-0.71	-0.82	-0.71	-0.62	-0.12	-0.71	-0.09		18M
	MSN	4VK	GAH	WTY	1S6	CWK0	VVV3	18M

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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

GAH	+ 0.93	MSN
GAH	+ 0.89	4VK
WTY	+ 0.89	4VK
CWK0	+ 0.88	4VK
4VK	+ 0.84	MSN
WTY	+ 0.84	GAH

High negative correlations

18M	- 0.82	4VK
VVV3	- 0.75	1S6
18M	- 0.71	CWK0
18M	- 0.71	GAH
18M	- 0.71	MSN
18M	- 0.62	WTY

Risk-Adjusted Indicators

There is a big difference between KOWORLD Stock performing well and KOWORLD 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 KOWORLD 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
MSN	0.88	0.00	(0.01)	0.04	1.09	(0.98)	1.77	(1.69)	6.94
4VK	0.92	0.14	0.11	0.29	0.92	(1.08)	2.19	(1.41)	8.35
GAH	1.27	0.08	0.06	0.15	1.12	(1.61)	3.11	(1.59)	7.97
WTY	1.03	0.23	0.14	0.46	0.99	(1.40)	2.74	(1.94)	8.36
1S6	1.30	0.02	0.00	0.11	1.63	(1.70)	2.48	(2.38)	10.52
CWK0	1.61	0.16	0.05	0.56	1.84	(2.22)	4.45	(3.59)	9.98
VVV3	1.43	0.06	0.02	0.13	2.08	(1.62)	3.52	(3.61)	10.12
18M	1.17	(0.01)	0.00	0.11	0.00	0.00	3.29	(2.40)	7.71

Be your own money manager

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