Centrotec Correlations

CEV Stock

EUR 52.50 0.00 0.00%

The current 90-days correlation between Centrotec SE and HALSTEAD JAMES LS 05 is -0.06 (i.e., Good diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Centrotec moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Centrotec SE moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Centrotec Correlation With Market

Good diversification

The correlation between Centrotec SE and DJI is -0.1 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Centrotec SE and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Centrotec Stock

0.66	3J8	JPM INDIAN INVT	Pair Corr
0.7	APC	Apple Inc	Pair Corr
0.64	DFK	01 Communique Laboratory	Pair Corr
0.69	APC	Apple Inc	Pair Corr
0.65	1YD	Broadcom	Pair Corr

Moving against Centrotec Stock

0.65	SG9	Strix Group Plc	Pair Corr
0.4	KRX	Kingspan Group plc	Pair Corr
0.39	4PN	Carrier Global	Pair Corr
0.39	LFPB	TRAVIS PERKINS LS	Pair Corr

Related Correlations Analysis

	DKIA	4PN	GBRF	72T	LFPB	HSJA	FZG1	5IW
DKIA		0.49	0.47	-0.22	0.55	-0.39	-0.32	-0.02	DKIA
4PN	0.49		0.2	-0.32	0.58	-0.17	0.0	-0.35	4PN
GBRF	0.47	0.2		-0.01	0.19	-0.28	-0.04	0.26	GBRF
72T	-0.22	-0.32	-0.01		-0.64	0.43	0.55	0.15	72T
LFPB	0.55	0.58	0.19	-0.64		-0.56	-0.72	0.08	LFPB
HSJA	-0.39	-0.17	-0.28	0.43	-0.56		0.71	0.08	HSJA
FZG1	-0.32	0.0	-0.04	0.55	-0.72	0.71		-0.17	FZG1
5IW	-0.02	-0.35	0.26	0.15	0.08	0.08	-0.17		5IW
	DKIA	4PN	GBRF	72T	LFPB	HSJA	FZG1	5IW

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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

FZG1	+ 0.71	HSJA
LFPB	+ 0.58	4PN
LFPB	+ 0.55	DKIA
FZG1	+ 0.55	72T
4PN	+ 0.49	DKIA
GBRF	+ 0.47	DKIA

High negative correlations

FZG1	- 0.72	LFPB
LFPB	- 0.64	72T
HSJA	- 0.56	LFPB
HSJA	- 0.39	DKIA
5IW	- 0.35	4PN
72T	- 0.32	4PN

Risk-Adjusted Indicators

There is a big difference between Centrotec Stock performing well and Centrotec 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 Centrotec'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
DKIA	1.37	0.02	0.00	0.10	1.43	(2.00)	3.48	(2.63)	10.78
4PN	1.38	(0.12)	0.00	(2.46)	0.00	0.00	2.54	(2.60)	11.52
GBRF	1.23	(0.08)	0.00	0.22	0.00	0.00	3.60	(1.82)	8.02
72T	4.06	0.66	0.13	(0.56)	4.23	(5.43)	10.95	(6.67)	29.33
LFPB	1.43	(0.38)	0.00	(1.81)	0.00	0.00	2.79	(3.47)	8.39
HSJA	1.70	0.13	0.03	5.38	2.31	(2.01)	3.65	(3.77)	13.26
FZG1	2.03	0.09	0.03	0.15	2.25	(2.43)	4.04	(3.77)	20.54
5IW	1.15	(0.04)	0.00	0.14	0.00	0.00	2.22	(2.43)	13.56

Be your own money manager

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