Crossject Correlations

Stocks . France . 
Stock . Crossject
ALCJ Stock  EUR 1.98  0.01  0.50%   
The current 90-days correlation between Crossject and Kalray SA is 0.1 (i.e., Average diversification). The correlation of Crossject 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.

Crossject Correlation With Market

Average diversification

The correlation between Crossject and DJI is 0.13 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Crossject and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to Crossject could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Crossject 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 Crossject - 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 Crossject to buy it.

Moving against Crossject Stock

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  0.78ALMIB Amoeba SAPairCorr
  0.76ALKKO Kko InternationalPairCorr
  0.74EL EssilorLuxottica SPairCorr
  0.69OVH OVH Groupe SASPairCorr
  0.67SGO Compagnie de SaintPairCorr
  0.59AIR Airbus Group SEPairCorr
  0.48EC TotalEnergies EP GabonPairCorr
  0.46RNO Renault SAPairCorr
  0.84VK VallourecPairCorr
  0.77CDA Compagnie des AlpesPairCorr
  0.7ABCA ABC arbitrage SAPairCorr
  0.69MLCFD Compagnie de CheminsPairCorr
  0.64ALNEO Neotion SAPairCorr
  0.64AC Accor S APairCorr
  0.64SCR SCOR SEPairCorr
  0.61MLPRX Parx Plastics NVPairCorr
  0.61ALO Alstom SAPairCorr
  0.6PARRO ParrotPairCorr
  0.58ENX Euronext NVPairCorr
  0.41VCT Vicat SAPairCorr
  0.38IVA Inventiva SAPairCorr
  0.33ATO Atos SEPairCorr
  0.33ALIMO Groupimo SAPairCorr

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   
ALBIO
+ 0.65
ALKAL
OSE
+ 0.6
ALERS
ALQGC
+ 0.44
ALERS
ALQGC
+ 0.27
OSE
OSE
+ 0.26
ALBIO
  
High negative correlations   
ALERS
- 0.46
ALKAL
ALQGC
- 0.38
ALKAL
OSE
- 0.3
ALKAL
ALQGC
- 0.1
ALBIO
ALERS
- 0.02
ALBIO

Risk-Adjusted Indicators

There is a big difference between Crossject Stock performing well and Crossject 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 Crossject'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 Crossject 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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