Hawesko Holding Correlations

HAW Stock

EUR 27.70 0.90 3.36%

The current 90-days correlation between Hawesko Holding AG and Rmy Cointreau SA is 0.02 (i.e., Significant diversification). The correlation of Hawesko Holding 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.

Hawesko Holding Correlation With Market

Good diversification

The correlation between Hawesko Holding AG and DJI is -0.03 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Hawesko Holding AG and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Hawesko Stock

0.77	GUIA	Diageo plc	Pair Corr
0.68	PER	Pernod Ricard SA	Pair Corr
0.62	RMC	Rmy Cointreau SA	Pair Corr
0.61	6BE	BECLE SAB DE	Pair Corr
0.79	9RV	REVLTNRY CNCPT	Pair Corr

Moving against Hawesko Stock

0.47	5EE	MEBUKI FINANCIAL	Pair Corr
0.39	4FK	Fukuoka Financial	Pair Corr
0.73	WD1	WD 40 CO	Pair Corr
0.69	G6G	GrafTech International	Pair Corr
0.61	2KD	Kinder Morgan	Pair Corr
0.59	GM0N	GLOBUS MEDICAL A	Pair Corr
0.53	SOBA	ATT Inc	Pair Corr
0.45	J7Z	Jazz Pharmaceuticals plc	Pair Corr
0.4	89W	GRUPO ECOENER EO	Pair Corr
0.65	HU3	Huntington Bancshares	Pair Corr
0.64	3EC	Eaton PLC	Pair Corr

Related Correlations Analysis

	CB1A	BF5B	T6W	RMC	6BE	T7W	HAW	BED
CB1A		0.06	0.34	0.29	-0.02	0.06	-0.08	-0.19	CB1A
BF5B	0.06		0.12	0.7	0.6	0.64	0.6	0.0	BF5B
T6W	0.34	0.12		0.21	-0.17	0.13	0.05	0.19	T6W
RMC	0.29	0.7	0.21		0.66	0.59	0.62	-0.05	RMC
6BE	-0.02	0.6	-0.17	0.66		0.43	0.61	-0.35	6BE
T7W	0.06	0.64	0.13	0.59	0.43		0.35	0.32	T7W
HAW	-0.08	0.6	0.05	0.62	0.61	0.35		-0.27	HAW
BED	-0.19	0.0	0.19	-0.05	-0.35	0.32	-0.27		BED
	CB1A	BF5B	T6W	RMC	6BE	T7W	HAW	BED

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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

RMC	+ 0.7	BF5B
6BE	+ 0.66	RMC
T7W	+ 0.64	BF5B
HAW	+ 0.62	RMC
HAW	+ 0.61	6BE
6BE	+ 0.6	BF5B

High negative correlations

BED	- 0.35	6BE
BED	- 0.27	HAW
BED	- 0.19	CB1A
6BE	- 0.17	T6W
HAW	- 0.08	CB1A
BED	- 0.05	RMC

Risk-Adjusted Indicators

There is a big difference between Hawesko Stock performing well and Hawesko Holding 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 Hawesko Holding'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
CB1A	0.90	(0.02)	0.00	(3.67)	0.00	0.00	2.41	(2.64)	6.95
BF5B	1.49	(0.07)	0.00	(0.20)	0.00	0.00	2.65	(3.27)	13.24
T6W	2.19	0.01	(0.01)	0.02	2.60	(3.28)	5.13	(5.26)	11.12
RMC	1.65	(0.07)	0.00	(5.24)	0.00	0.00	3.80	(2.84)	14.20
6BE	2.39	(0.27)	0.00	2.25	0.00	0.00	7.09	(5.22)	16.25
T7W	1.37	0.08	0.03	0.45	1.52	(1.60)	3.20	(2.57)	13.11
HAW	1.63	0.11	0.04	(1.29)	1.71	(2.18)	5.29	(2.67)	14.60
BED	1.07	0.01	(0.01)	(1.39)	1.84	(1.23)	2.64	(1.31)	9.45

Be your own money manager

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