COMPUGROUP MEDSPADR Correlations

COPA Stock

EUR 21.20 0.40 1.85%

The current 90-days correlation between COMPUGROUP MEDSPADR and Harmony Gold Mining is 0.1 (i.e., Average diversification). The correlation of COMPUGROUP MEDSPADR 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.

The ability to find closely correlated positions to COMPUGROUP MEDSPADR could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace COMPUGROUP MEDSPADR 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 COMPUGROUP MEDSPADR - 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 COMPUGROUP MEDSPADR 1 to buy it.

Moving together with COMPUGROUP Stock

0.68	3CM	RLX TECH SPADR1	Pair Corr
0.88	COP	CompuGroup Medical	Pair Corr
0.95	COP	Compugroup Medical	Pair Corr
0.7	WMT	Walmart	Pair Corr
0.71	WMT	Walmart	Pair Corr
0.74	AMZ	Amazon Inc	Pair Corr
0.74	AMZ	Amazon Inc	Pair Corr
0.69	E908	Lyxor 1	Pair Corr
0.65	DBPE	Xtrackers LevDAX	Pair Corr

Moving against COMPUGROUP Stock

0.66	DBPD	Xtrackers ShortDAX	Pair Corr
0.61	9EH	Evolent Health	Pair Corr
0.49	VOWB	VOLKSWAGEN AG VZ	Pair Corr
0.46	VOW	Volkswagen AG	Pair Corr
0.41	VOW3	Volkswagen AG VZO	Pair Corr
0.41	VOW3	Volkswagen AG	Pair Corr
0.31	C4X	Onxeo SA	Pair Corr

Related Correlations Analysis

	HAM	55O1	GM6	SI3	8PM	BXU	HKT	LY1
HAM		-0.34	0.0	-0.14	0.08	-0.46	0.0	0.57	HAM
55O1	-0.34		0.0	0.89	0.52	0.31	0.78	-0.68	55O1
GM6	0.0	0.0		0.0	0.0	0.0	0.0	0.0	GM6
SI3	-0.14	0.89	0.0		0.51	0.04	0.83	-0.57	SI3
8PM	0.08	0.52	0.0	0.51		0.19	0.46	-0.06	8PM
BXU	-0.46	0.31	0.0	0.04	0.19		0.19	-0.36	BXU
HKT	0.0	0.78	0.0	0.83	0.46	0.19		-0.43	HKT
LY1	0.57	-0.68	0.0	-0.57	-0.06	-0.36	-0.43		LY1
	HAM	55O1	GM6	SI3	8PM	BXU	HKT	LY1

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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

SI3	+ 0.89	55O1
HKT	+ 0.83	SI3
HKT	+ 0.78	55O1
LY1	+ 0.57	HAM
8PM	+ 0.52	55O1
8PM	+ 0.51	SI3

High negative correlations

LY1	- 0.68	55O1
LY1	- 0.57	SI3
BXU	- 0.46	HAM
LY1	- 0.43	HKT
LY1	- 0.36	BXU
55O1	- 0.34	HAM

Risk-Adjusted Indicators

There is a big difference between COMPUGROUP Stock performing well and COMPUGROUP MEDSPADR 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 COMPUGROUP MEDSPADR'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
HAM	2.70	0.27	0.05	1.73	3.10	(3.08)	7.88	(5.38)	16.53
55O1	0.77	0.09	0.04	0.29	0.69	(0.89)	1.72	(1.41)	4.78
GM6	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
SI3	0.81	0.46	0.00	3.22	0.00	0.00	2.50	0.00	9.68
8PM	0.66	0.04	(0.02)	0.21	0.74	(1.04)	1.59	(1.56)	4.01
BXU	1.43	(0.01)	(0.02)	0.08	1.64	(3.00)	2.56	(2.50)	12.20
HKT	0.56	0.07	(0.02)	2.72	0.60	(1.63)	1.64	(1.61)	3.31
LY1	2.45	(0.30)	0.00	(0.20)	0.00	0.00	5.26	(5.88)	16.37

Be your own money manager

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