Odyssean Investment Correlations

Stocks . Germany . 
Stock . Odyssean Investment Trust
2HZ Stock  EUR 1.69  0.11  6.11%   
The current 90-days correlation between Odyssean Investment Trust and Apple Inc is 0.01 (i.e., Significant diversification). The correlation of Odyssean Investment 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.

Odyssean Investment Correlation With Market

Good diversification

The correlation between Odyssean Investment Trust and DJI is -0.15 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Odyssean Investment Trust and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to Odyssean Investment could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Odyssean Investment 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 Odyssean Investment - 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 Odyssean Investment Trust to buy it.

Moving together with Odyssean Stock

  0.83SSU Samsung ElectronicsPairCorr
  0.8SSUN Samsung ElectronicsPairCorr
  0.8SSUN Samsung ElectronicsPairCorr
  0.82SSU Samsung ElectronicsPairCorr
  0.65TCID Telkom Indonesia TbkPairCorr
  0.72TCID Telkom Indonesia TbkPairCorr
  0.75PTI Perusahaan PerseroanPairCorr
  0.65TCID Telkom Indonesia TbkPairCorr
  0.72TCID Telkom Indonesia TbkPairCorr

Moving against Odyssean Stock

  0.73APC Apple IncPairCorr
  0.73APC Apple IncPairCorr
  0.72APC Apple IncPairCorr
  0.72APC Apple IncPairCorr
  0.72APC Apple IncPairCorr
  0.72APC Apple IncPairCorr
  0.67MSF MicrosoftPairCorr
  0.66MSF MicrosoftPairCorr
  0.65MSF MicrosoftPairCorr
  0.64MSF MicrosoftPairCorr
  0.882CDA Controladora Vuela CompaaPairCorr
  0.86WD5A TRAVEL LEISURE DLPairCorr
  0.852T9A TRAINLINE PLC LSPairCorr
  0.8EN3 EnbridgePairCorr
  0.79WX7 Corporate Office ProPairCorr
  0.79FFH Fifth Third BancorpPairCorr
  0.73TSFA Taiwan SemiconductorPairCorr
  0.67MSF MicrosoftPairCorr
  0.660XHR Xenia Hotels ResortsPairCorr
  0.64RS6 RELIANCE STEEL ALPairCorr
  0.55KOMA KOMATSU LTD SPONSPairCorr
  0.41D4G Datametrex AI LimitedPairCorr
  0.38H1Q China BlueChemicalPairCorr
  0.37NGLD ANGLO AMERICAN SPADRPairCorr
  0.88WX1 Acadia Realty TrustPairCorr
  0.82RC2 RCM TECHNOLOGIESPairCorr
  0.78LIE Sun Life FinancialPairCorr
  0.76PPB Flutter Entertainment PLCPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Odyssean Stock performing well and Odyssean Investment 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 Odyssean Investment'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
APC  0.90  0.23  0.18  1.20  0.93 
(1.00)
 1.81 
(1.75)
 4.97 
APC  0.84  0.26  0.19  0.93  0.98 
(0.92)
 1.88 
(1.73)
 5.24 
APC  0.85  0.23  0.19  0.68  0.86 
(0.94)
 2.06 
(1.76)
 4.50 
APC  0.92  0.24  0.16  20.15  1.07 
(0.97)
 2.22 
(1.83)
 6.45 
APC  0.91  0.23  0.20  5.09  0.79 
(1.06)
 2.33 
(1.69)
 5.24 
APC  0.85  0.25  0.20  1.43  0.99 
(0.96)
 1.88 
(1.61)
 6.46 
MSF  0.96  0.11  0.07  0.58  1.24 
(1.17)
 2.55 
(1.46)
 8.71 
MSF  1.04  0.09  0.05  1.34  1.36 
(1.18)
 2.35 
(1.75)
 9.11 
MSF  1.00  0.11  0.06  1.06  1.48 
(1.16)
 2.42 
(1.66)
 11.42 
MSF  0.93  0.09  0.04 (9.07) 1.35 
(1.02)
 2.04 
(1.49)
 8.79 

Be your own money manager

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