TRI CHEMICAL Correlations

Stocks . Germany . 
Stock . TRI CHEMICAL LABORATINC
22E Stock   16.50  0.30  1.79%   
The current 90-days correlation between TRI CHEMICAL LABORATINC and Linde plc is 0.05 (i.e., Significant diversification). The correlation of TRI CHEMICAL 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.

TRI CHEMICAL Correlation With Market

Significant diversification

The correlation between TRI CHEMICAL LABORATINC and DJI is 0.09 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding TRI CHEMICAL LABORATINC and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to TRI CHEMICAL could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace TRI CHEMICAL 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 TRI CHEMICAL - 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 TRI CHEMICAL LABORATINC to buy it.

Moving together with TRI Stock

  0.8AIL Air Liquide SAPairCorr
  0.92SIKB SIKA AG UNSPADRPairCorr
  0.8DLY LyondellBasell IndustriesPairCorr
  0.77GD6 Ramsay Gnrale dePairCorr
  0.72HVB STRA HannoverschePairCorr

Moving against TRI Stock

  0.73M5V EHEALTHPairCorr
  0.64AMC AlbemarlePairCorr
  0.44A2R Accent ResourcesPairCorr
  0.43ECJ Ecolab IncPairCorr
  0.4SJ3 Sherwin WilliamsPairCorr
  0.34RU6 PT Solusi BangunPairCorr
  0.89M4I MastercardPairCorr
  0.882CDA Controladora Vuela CompaaPairCorr
  0.84RC2 RCM TECHNOLOGIESPairCorr
  0.8PNP PNC FinancialPairCorr
  0.8WD5A TRAVEL LEISURE DLPairCorr
  0.79FFH Fifth Third BancorpPairCorr
  0.78PTX Palantir TechnologiesPairCorr
  0.763FNA ADRIATIC METALS LSPairCorr
  0.75AF4 HANOVER INSURANCEPairCorr
  0.74EN3 EnbridgePairCorr
  0.69AZ5 AutoZonePairCorr
  0.68PPB Flutter Entertainment PLCPairCorr
  0.61MSF MicrosoftPairCorr
  0.56HIP Park Hotels ResortsPairCorr
  0.394GE Grupo Mxico SABPairCorr
  0.35RZH SCOTT TECHNOLOGYPairCorr
  0.88WX1 Acadia Realty TrustPairCorr
  0.85HI91 Hilton Worldwide HoldingsPairCorr
  0.842WY Wyndham Hotels ResortsPairCorr
  0.82QAN Qantas AirwaysPairCorr
  0.79VA7A VERISK ANLYTCS APairCorr
  0.77CQD Charter CommunicationsPairCorr

Related Correlations Analysis

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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   
LIN
+ 0.99
LIN
SIKB
+ 0.89
AIL
DLY
+ 0.86
SIKB
DLY
+ 0.8
AIL
AMC
+ 0.71
SJ3
PPQ
+ 0.6
6D81
  
High negative correlations   
AMC
- 0.69
SIKB
AMC
- 0.68
AIL
SJ3
- 0.5
AIL
AMC
- 0.48
DLY
SIKB
- 0.47
SJ3
SIKB
- 0.32
ECJ

Risk-Adjusted Indicators

There is a big difference between TRI Stock performing well and TRI CHEMICAL 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 TRI CHEMICAL'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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
LIN  0.74 (0.07) 0.00 (0.32) 0.00 
 0.00 
 1.62 
(1.60)
 6.13 
LIN  0.65 (0.06) 0.00 (0.22) 0.00 
 0.00 
 1.35 
(1.30)
 5.12 
AIL  0.77 (0.12) 0.00  2.02  0.00 
 0.00 
 1.36 
(2.01)
 4.17 
SJ3  1.25 (0.05) 0.00 (0.03) 0.00 
 0.00 
 3.86 
(2.34)
 14.34 
ECJ  0.85  0.00 (0.01) 0.04  0.99 
(0.95)
 2.20 
(1.52)
 5.43 
SIKB  1.25 (0.34) 0.00 (5.81) 0.00 
 0.00 
 2.50 
(3.08)
 9.15 
6D81  1.09  0.00 (0.02) 0.03  1.23 
(1.34)
 2.47 
(2.20)
 12.90 
DLY  1.27 (0.25) 0.00 (0.61) 0.00 
 0.00 
 3.10 
(2.72)
 9.70 
PPQ  1.10  0.03  0.01  0.59  1.07 
(1.34)
 2.39 
(1.78)
 7.27 
AMC  2.96  0.17  0.05  0.69  3.01 
(3.55)
 7.95 
(5.10)
 20.17 

Be your own money manager

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