AGF AS Correlations

Stocks . Denmark . 
Stock . AGF AS
AGF-B Stock  DKK 0.72  0.02  2.86%   
The correlation of AGF AS 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.

AGF AS Correlation With Market

Good diversification

The correlation between AGF AS and DJI is -0.08 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding AGF AS and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to AGF AS could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace AGF AS 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 AGF AS - 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 AGF AS to buy it.

Moving together with AGF Stock

  0.69GRLA GroenlandsbankenPairCorr

Moving against AGF Stock

  0.68BIF Broendbyernes IF FodboldPairCorr
  0.68JYSK Jyske Bank ASPairCorr
  0.65AAB Aalborg BoldspilklubPairCorr
  0.62FYNBK Fynske Bank ASPairCorr
  0.59GMAB Genmab ASPairCorr
  0.42KLEE-B Brd Klee ASPairCorr
  0.35LOLB Lollands BankPairCorr

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   
JYSK
+ 0.8
NRDF
PRIMOF
+ 0.71
NRDF
JYSK
+ 0.63
PRIMOF
DAB
+ 0.53
RILBA
DAB
+ 0.51
PARKEN
PARKEN
+ 0.44
RILBA
  
High negative correlations   
RILBA
- 0.77
NRDF
JYSK
- 0.7
RILBA
RILBA
- 0.67
PRIMOF
DAB
- 0.49
JYSK
DAB
- 0.46
PRIMOF
DAB
- 0.46
NRDF

Risk-Adjusted Indicators

There is a big difference between AGF Stock performing well and AGF AS 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 AGF AS'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.

Be your own money manager

Our tools can tell you how much better you can do entering a position in AGF AS 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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