Fresenius Medical Correlations

FME Stock

EUR 45.02 0.43 0.95%

The correlation of Fresenius Medical 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. If the correlation is 0, the equities are not correlated; they are entirely random.

Fresenius Medical Correlation With Market

Average diversification

The correlation between Fresenius Medical Care 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 Fresenius Medical Care and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Fresenius Stock

0.85	APC	Apple Inc	Pair Corr
0.87	APC	Apple Inc	Pair Corr
0.87	APC	Apple Inc	Pair Corr
0.86	APC	Apple Inc	Pair Corr
0.88	MSF	Microsoft	Pair Corr
0.86	MSF	Microsoft	Pair Corr
0.87	MSF	Microsoft	Pair Corr
0.86	MSF	Microsoft	Pair Corr
0.88	MSF	Microsoft	Pair Corr
0.89	AMZ	Amazon Inc	Pair Corr
0.81	FHL	Federal Home Loan	Pair Corr
0.79	SID	State Bank	Pair Corr
0.7	E908	Lyxor 1	Pair Corr

Moving against Fresenius Stock

0.67	DBPD	Xtrackers ShortDAX	Pair Corr
0.48	LLD2	Lloyds Banking Group	Pair Corr

Related Correlations Analysis

	M3V	51KB	31F	CLM	SBC	DMN	3AM
M3V		0.68	0.76	-0.53	0.52	-0.24	0.48	M3V
51KB	0.68		0.9	-0.6	0.6	-0.15	0.76	51KB
31F	0.76	0.9		-0.63	0.66	-0.29	0.79	31F
CLM	-0.53	-0.6	-0.63		-0.6	0.24	-0.39	CLM
SBC	0.52	0.6	0.66	-0.6		-0.49	0.54	SBC
DMN	-0.24	-0.15	-0.29	0.24	-0.49		-0.18	DMN
3AM	0.48	0.76	0.79	-0.39	0.54	-0.18		3AM
	M3V	51KB	31F	CLM	SBC	DMN	3AM

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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

31F	+ 0.9	51KB
3AM	+ 0.79	31F
31F	+ 0.76	M3V
3AM	+ 0.76	51KB
51KB	+ 0.68	M3V
SBC	+ 0.66	31F

High negative correlations

CLM	- 0.63	31F
SBC	- 0.6	CLM
CLM	- 0.6	51KB
CLM	- 0.53	M3V
DMN	- 0.49	SBC
3AM	- 0.39	CLM

Risk-Adjusted Indicators

There is a big difference between Fresenius Stock performing well and Fresenius Medical 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 Fresenius Medical'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
M3V	0.54	0.12	0.01	(0.61)	0.42	(1.40)	1.72	(1.64)	4.16
51KB	2.85	0.54	0.14	1.19	3.11	(3.13)	5.66	(4.76)	18.85
31F	1.49	0.25	0.13	0.50	1.36	(1.95)	2.89	(2.73)	11.59
CLM	2.35	(0.30)	0.00	84.56	0.00	0.00	7.77	(6.06)	20.48
SBC	1.28	0.00	(0.04)	0.07	1.83	(1.23)	3.07	(3.09)	8.26
DMN	3.16	0.00	0.04	0.00	2.87	(4.08)	6.19	(3.92)	18.37
3AM	0.64	(0.03)	(0.04)	(0.02)	0.95	(3.04)	2.69	(2.87)	12.71

Be your own money manager

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