A1LN34 Correlations

A1LN34 Stock

BRL 73.50 0.84 1.16%

The current 90-days correlation between A1LN34 and BIONTECH SE DRN is 0.22 (i.e., Modest diversification). The correlation of A1LN34 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.

A1LN34 Correlation With Market

Significant diversification

The correlation between A1LN34 and DJI is 0.06 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding A1LN34 and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to A1LN34 could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace A1LN34 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 A1LN34 - 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 A1LN34 to buy it.

Moving against A1LN34 Stock

0.35	TMCO34	Toyota Motor	Pair Corr
0.34	NMRH34	Nomura Holdings	Pair Corr
0.32	SNEC34	Sony Group Split	Pair Corr
0.31	A1SN34	Ascendis Pharma AS	Pair Corr
0.4	TSLA34	Tesla Inc	Pair Corr
0.35	GGBR3	Gerdau SA	Pair Corr
0.32	CTKA3	Karsten SA	Pair Corr
0.32	CAON34	Capital One Financial	Pair Corr
0.31	P2LT34	Palantir Technologies	Pair Corr

Related Correlations Analysis

	N1VO34	VRTX34	M1RN34	B1NT34	B1GN34	T1CH34	A1SN34	BIOM3
N1VO34		0.02	0.61	0.04	0.14	-0.27	0.32	0.09	N1VO34
VRTX34	0.02		-0.49	0.25	-0.11	0.06	-0.18	-0.36	VRTX34
M1RN34	0.61	-0.49		-0.38	0.34	-0.21	0.04	0.61	M1RN34
B1NT34	0.04	0.25	-0.38		0.07	-0.02	0.61	-0.76	B1NT34
B1GN34	0.14	-0.11	0.34	0.07		-0.52	0.02	0.1	B1GN34
T1CH34	-0.27	0.06	-0.21	-0.02	-0.52		0.04	-0.04	T1CH34
A1SN34	0.32	-0.18	0.04	0.61	0.02	0.04		-0.35	A1SN34
BIOM3	0.09	-0.36	0.61	-0.76	0.1	-0.04	-0.35		BIOM3
	N1VO34	VRTX34	M1RN34	B1NT34	B1GN34	T1CH34	A1SN34	BIOM3

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

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

M1RN34	+ 0.61	N1VO34
BIOM3	+ 0.61	M1RN34
A1SN34	+ 0.61	B1NT34
B1GN34	+ 0.34	M1RN34
A1SN34	+ 0.32	N1VO34
B1NT34	+ 0.25	VRTX34

High negative correlations

BIOM3	- 0.76	B1NT34
T1CH34	- 0.52	B1GN34
M1RN34	- 0.49	VRTX34
B1NT34	- 0.38	M1RN34
BIOM3	- 0.36	VRTX34
BIOM3	- 0.35	A1SN34

Risk-Adjusted Indicators

There is a big difference between A1LN34 Stock performing well and A1LN34 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 A1LN34'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
N1VO34	2.06	(0.44)	0.00	0.85	0.00	0.00	3.49	(3.79)	10.24
VRTX34	1.48	(0.11)	0.00	(0.10)	0.00	0.00	2.93	(2.85)	19.04
M1RN34	2.77	(0.66)	0.00	(3.15)	0.00	0.00	5.45	(6.87)	15.77
B1NT34	2.05	0.16	0.05	0.31	2.60	(2.36)	5.30	(4.55)	13.89
B1GN34	1.57	(0.03)	0.00	5.02	0.00	0.00	3.97	(3.73)	20.13
T1CH34	1.60	0.22	0.05	2.03	1.85	(3.11)	4.48	(5.56)	30.78
A1SN34	0.40	0.00	0.00	0.01	0.00	0.00	0.25	(2.22)	13.57
BIOM3	2.18	(0.42)	0.00	(0.45)	0.00	0.00	5.34	(3.95)	15.51

Be your own money manager

Our tools can tell you how much better you can do entering a position in A1LN34 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.

Did you try this?

Run Stocks Directory Now

Stocks Directory

Find actively traded stocks across global markets

All Next

Launch Module

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2024 Macroaxis LLC