| EL Stock | | | EUR 231.20 0.70 0.30% |
The current 90-days correlation between EssilorLuxottica S and Eurofins Scientific SE is 0.14 (i.e., Average diversification). The correlation of EssilorLuxottica 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.
EssilorLuxottica Correlation With Market
Significant diversification
The correlation between EssilorLuxottica S A and DJI is 0.05 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding EssilorLuxottica S A and DJI in the same portfolio, assuming nothing else is changed.
The ability to find closely correlated positions to EssilorLuxottica could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace EssilorLuxottica 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 EssilorLuxottica - 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 EssilorLuxottica S A to buy it.
Moving together with EssilorLuxottica Stock
Moving against EssilorLuxottica Stock
Related Correlations Analysis
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 | | High negative correlations |
Risk-Adjusted IndicatorsThere is a big difference between EssilorLuxottica Stock performing well and EssilorLuxottica 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 EssilorLuxottica'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
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EssilorLuxottica Corporate Management
Elected by the shareholders, the EssilorLuxottica's board of directors comprises two types of representatives: EssilorLuxottica inside directors who are chosen from within the company, and outside directors, selected externally and held independent of EssilorLuxottica. The board's role is to monitor EssilorLuxottica's management team and ensure that shareholders' interests are well served. EssilorLuxottica's inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, EssilorLuxottica's outside directors are responsible for providing unbiased perspectives on the board's policies.