H+M HEN+MAUUNSPADR Correlations

HMSA Stock

EUR 2.66 0.04 1.53%

The current 90-days correlation between H+M HEN+MAUUNSPADR and Ares Management Corp is 0.16 (i.e., Average diversification). The correlation of H+M HEN+MAUUNSPADR 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.

H+M HEN+MAUUNSPADR Correlation With Market

Average diversification

The correlation between HM HENMAUUNSPADR 15 and DJI is 0.15 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding HM HENMAUUNSPADR 15 and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to H+M HEN+MAUUNSPADR could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace H+M HEN+MAUUNSPADR 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 H+M HEN+MAUUNSPADR - 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 HM HENMAUUNSPADR 15 to buy it.

Moving together with H+M Stock

0.71	LV2B	Levi Strauss	Pair Corr
0.7	MKO	Capri Holdings	Pair Corr
0.75	6FO	GOODTECH ASA A	Pair Corr

Moving against H+M Stock

0.66	ESLC	ESSILORLUXOTTICA 12ON	Pair Corr
0.48	GC6	Primo Water Corp	Pair Corr
0.47	GLE	Gladstone Commercial	Pair Corr
0.46	VGA	Gildan Activewear	Pair Corr
0.36	PRL	Ralph Lauren	Pair Corr
0.33	VFP	VF Corporation	Pair Corr

Related Correlations Analysis

	SI3	VIP	1G3	0QN	5EZ	14N1	JAN
SI3		0.96	0.75	0.92	-0.4	0.17	-0.18	SI3
VIP	0.96		0.67	0.88	-0.44	0.34	-0.02	VIP
1G3	0.75	0.67		0.89	0.13	-0.29	-0.5	1G3
0QN	0.92	0.88	0.89		-0.14	0.01	-0.34	0QN
5EZ	-0.4	-0.44	0.13	-0.14		-0.57	-0.31	5EZ
14N1	0.17	0.34	-0.29	0.01	-0.57		0.61	14N1
JAN	-0.18	-0.02	-0.5	-0.34	-0.31	0.61		JAN
	SI3	VIP	1G3	0QN	5EZ	14N1	JAN

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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

VIP	+ 0.96	SI3
0QN	+ 0.92	SI3
0QN	+ 0.89	1G3
0QN	+ 0.88	VIP
1G3	+ 0.75	SI3
1G3	+ 0.67	VIP

High negative correlations

14N1	- 0.57	5EZ
JAN	- 0.5	1G3
5EZ	- 0.44	VIP
5EZ	- 0.4	SI3
JAN	- 0.34	0QN
JAN	- 0.31	5EZ

Risk-Adjusted Indicators

There is a big difference between H+M Stock performing well and H+M HEN+MAUUNSPADR 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 H+M HEN+MAUUNSPADR'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
SI3	0.79	0.35	0.13	1.65	0.25	(1.52)	2.08	(0.83)	9.68
VIP	1.53	0.12	0.15	0.19	1.28	(2.06)	4.50	(2.70)	11.31
1G3	1.60	0.33	0.10	(1.31)	1.61	(1.85)	3.91	(2.45)	12.34
0QN	1.54	0.28	0.15	0.49	1.43	(1.86)	4.21	(2.71)	12.65
5EZ	1.16	0.00	(0.05)	0.13	1.61	(1.29)	2.33	(2.27)	8.82
14N1	0.76	(0.02)	(0.10)	0.05	1.05	(0.89)	2.08	(1.63)	6.16
JAN	1.33	(0.12)	0.00	(0.09)	0.00	0.00	2.31	(2.94)	13.86

Be your own money manager

Our tools can tell you how much better you can do entering a position in H+M HEN+MAUUNSPADR 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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