USWE SPORTS Correlations

9GY Stock

0.76 0.01 1.30%

The current 90-days correlation between USWE SPORTS AB and Li Ning Company is 0.01 (i.e., Significant diversification). The correlation of USWE SPORTS 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.

USWE SPORTS Correlation With Market

Significant diversification

The correlation between USWE SPORTS AB 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 USWE SPORTS AB and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with USWE Stock

0.92	PCE1	Booking Holdings	Pair Corr
0.61	CLV	Trip Group Limited	Pair Corr
0.88	RC8	Royal Caribbean Group	Pair Corr
0.9	E3X1	Expedia Group	Pair Corr
0.87	CVC1	Carnival plc	Pair Corr
0.74	BRYN	Berkshire Hathaway	Pair Corr
0.75	BRYN	Berkshire Hathaway	Pair Corr

Moving against USWE Stock

0.84	HYU	Hyundai Motor	Pair Corr
0.83	SHM1	SHIMANO INC UNSPADR10	Pair Corr
0.83	SHM	Shimano	Pair Corr
0.83	PKX	POSCO Holdings	Pair Corr
0.7	SSU	Samsung Electronics	Pair Corr
0.68	SSUN	Samsung Electronics	Pair Corr
0.36	BRH	Berkshire Hathaway	Pair Corr

Related Correlations Analysis

	LNLB	CLV	8SP	6NM	39O1	2DG	TM9	INVN	NOH1	INL
LNLB		0.79	-0.26	-0.04	0.62	-0.34	0.36	0.35	0.71	0.62	LNLB
CLV	0.79		-0.67	-0.24	0.35	-0.69	0.05	0.71	0.86	0.8	CLV
8SP	-0.26	-0.67		0.53	0.29	0.79	0.34	-0.77	-0.56	-0.75	8SP
6NM	-0.04	-0.24	0.53		0.46	0.2	0.11	-0.12	-0.08	-0.21	6NM
39O1	0.62	0.35	0.29	0.46		0.15	0.41	-0.01	0.39	0.13	39O1
2DG	-0.34	-0.69	0.79	0.2	0.15		0.26	-0.87	-0.68	-0.79	2DG
TM9	0.36	0.05	0.34	0.11	0.41	0.26		-0.22	0.18	-0.03	TM9
INVN	0.35	0.71	-0.77	-0.12	-0.01	-0.87	-0.22		0.74	0.81	INVN
NOH1	0.71	0.86	-0.56	-0.08	0.39	-0.68	0.18	0.74		0.82	NOH1
INL	0.62	0.8	-0.75	-0.21	0.13	-0.79	-0.03	0.81	0.82		INL
	LNLB	CLV	8SP	6NM	39O1	2DG	TM9	INVN	NOH1	INL

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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

NOH1	+ 0.86	CLV
INL	+ 0.82	NOH1
INL	+ 0.81	INVN
INL	+ 0.8	CLV
CLV	+ 0.79	LNLB
2DG	+ 0.79	8SP

High negative correlations

INVN	- 0.87	2DG
INL	- 0.79	2DG
INVN	- 0.77	8SP
INL	- 0.75	8SP
2DG	- 0.69	CLV
NOH1	- 0.68	2DG

Risk-Adjusted Indicators

There is a big difference between USWE Stock performing well and USWE SPORTS 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 USWE SPORTS'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
LNLB	3.12	0.25	0.04	1.18	3.51	(3.96)	7.22	(5.31)	30.42
CLV	2.68	0.50	0.15	0.91	2.66	(3.41)	7.88	(4.44)	20.90
8SP	2.05	(0.27)	0.00	(0.13)	0.00	0.00	3.36	(4.74)	20.22
6NM	1.22	(0.06)	(0.04)	0.05	1.70	(1.39)	2.89	(2.69)	9.64
39O1	3.51	(0.07)	0.00	0.08	3.50	(4.94)	8.41	(5.47)	24.06
2DG	4.54	(0.84)	0.00	1.89	0.00	0.00	9.09	(9.09)	52.42
TM9	2.79	(0.13)	(0.03)	(0.01)	4.21	(3.19)	5.56	(6.43)	36.50
INVN	2.04	0.26	0.07	0.83	2.11	(2.48)	5.59	(4.04)	14.01
NOH1	2.12	0.21	0.05	1.08	1.94	(2.74)	6.61	(3.38)	12.96
INL	2.44	0.18	0.07	0.31	2.38	(3.09)	6.80	(3.69)	13.89

Be your own money manager

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