Neinor Homes Correlations

1NN Stock

15.04 0.16 1.08%

The current 90-days correlation between Neinor Homes SA and Playtech plc is -0.26 (i.e., Very good diversification). The correlation of Neinor Homes 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.

Neinor Homes Correlation With Market

Significant diversification

The correlation between Neinor Homes SA and DJI is 0.05 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Neinor Homes SA and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Neinor Stock

0.69	APC	Apple Inc	Pair Corr
0.71	APC	Apple Inc	Pair Corr
0.71	APC	Apple Inc	Pair Corr
0.65	APC	Apple Inc	Pair Corr
0.7	APC	Apple Inc	Pair Corr
0.7	APC	Apple Inc	Pair Corr
0.61	DBPE	Xtrackers LevDAX	Pair Corr

Moving against Neinor Stock

0.69	DBPD	Xtrackers ShortDAX	Pair Corr
0.48	BUU	DevEx Resources	Pair Corr

Related Correlations Analysis

	PL8	LGA	TM9	8DA1	9JD	WD5A	BMT	PRE1
PL8		-0.09	0.68	-0.28	-0.03	0.43	-0.3	-0.45	PL8
LGA	-0.09		-0.59	0.69	0.75	-0.75	-0.34	-0.12	LGA
TM9	0.68	-0.59		-0.61	-0.63	0.86	0.14	-0.08	TM9
8DA1	-0.28	0.69	-0.61		0.53	-0.75	-0.39	0.05	8DA1
9JD	-0.03	0.75	-0.63	0.53		-0.83	-0.47	-0.32	9JD
WD5A	0.43	-0.75	0.86	-0.75	-0.83		0.36	0.18	WD5A
BMT	-0.3	-0.34	0.14	-0.39	-0.47	0.36		0.5	BMT
PRE1	-0.45	-0.12	-0.08	0.05	-0.32	0.18	0.5		PRE1
	PL8	LGA	TM9	8DA1	9JD	WD5A	BMT	PRE1

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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

WD5A	+ 0.86	TM9
9JD	+ 0.75	LGA
8DA1	+ 0.69	LGA
TM9	+ 0.68	PL8
9JD	+ 0.53	8DA1
PRE1	+ 0.5	BMT

High negative correlations

WD5A	- 0.83	9JD
WD5A	- 0.75	8DA1
WD5A	- 0.75	LGA
9JD	- 0.63	TM9
8DA1	- 0.61	TM9
TM9	- 0.59	LGA

Risk-Adjusted Indicators

There is a big difference between Neinor Stock performing well and Neinor Homes 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 Neinor Homes' 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
PL8	0.99	0.19	0.05	(6.65)	1.08	(1.15)	2.08	(1.57)	10.06
LGA	1.41	(0.20)	0.00	(2.29)	0.00	0.00	3.45	(3.76)	10.39
TM9	1.92	0.49	0.24	0.69	1.04	(4.33)	4.64	(2.86)	22.51
8DA1	1.45	(0.23)	0.00	49.81	0.00	0.00	3.05	(2.50)	9.92
9JD	2.07	(0.47)	0.00	(0.60)	0.00	0.00	4.02	(5.38)	19.76
WD5A	1.26	0.32	0.20	0.42	1.09	(1.62)	3.13	(2.35)	7.49
BMT	0.99	0.17	(0.01)	(0.29)	1.27	(1.01)	2.41	(2.50)	6.32
PRE1	1.72	(0.29)	0.00	(0.12)	0.00	0.00	4.27	(4.13)	11.79

Be your own money manager

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