HALSTEAD JAMES Correlations

HSJA Stock

EUR 2.08 0.04 1.89%

The current 90-days correlation between HALSTEAD JAMES LS and SMA Solar Technology is 0.1 (i.e., Average diversification). The correlation of HALSTEAD JAMES 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.

HALSTEAD JAMES Correlation With Market

Good diversification

The correlation between HALSTEAD JAMES LS 05 and DJI is -0.07 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding HALSTEAD JAMES LS 05 and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to HALSTEAD JAMES could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace HALSTEAD JAMES 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 HALSTEAD JAMES - 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 HALSTEAD JAMES LS 05 to buy it.

Moving together with HALSTEAD Stock

0.72	FZG1	BLUELINX HLDGS DL	Pair Corr
0.69	W5E	Peel Mining Limited	Pair Corr
0.63	8II	PLAYTIKA HOLDING	Pair Corr
0.69	ACT	AlzChem Group AG	Pair Corr
0.84	OYC	Delta Air Lines	Pair Corr
0.66	UVV	Universal Corp	Pair Corr
0.71	BB1	Barrett Business Services	Pair Corr
0.76	7SU	Summit Materials	Pair Corr
0.76	SAYN	Sanmina	Pair Corr
0.79	2PP	PayPal Holdings	Pair Corr
0.8	KEL	KELLOGG Dusseldorf	Pair Corr
0.71	CMAB	Mapfre SA	Pair Corr
0.78	JBL	JABIL CIRCUIT	Pair Corr
0.76	HEI	Heidelberg Materials	Pair Corr

Moving against HALSTEAD Stock

0.71	LFPB	TRAVIS PERKINS LS	Pair Corr
0.69	KRX	Kingspan Group plc	Pair Corr
0.42	GBRF	Geberit AG	Pair Corr
0.32	DKIA	DAIKIN INDUSTRUNSPADR	Pair Corr
0.45	IU2	Yara International ASA	Pair Corr
0.43	C4X	Onxeo SA	Pair Corr
0.36	2RR	Alibaba Group Holding	Pair Corr

Related Correlations Analysis

	AFW	YE42	D2V	762	1MA	S92	PYA	SXC
AFW		-0.31	-0.17	0.27	0.21	0.05	0.28	0.41	AFW
YE42	-0.31		-0.67	-0.84	-0.87	0.6	-0.83	-0.8	YE42
D2V	-0.17	-0.67		0.58	0.66	-0.54	0.61	0.55	D2V
762	0.27	-0.84	0.58		0.8	-0.56	0.8	0.81	762
1MA	0.21	-0.87	0.66	0.8		-0.81	0.93	0.8	1MA
S92	0.05	0.6	-0.54	-0.56	-0.81		-0.85	-0.5	S92
PYA	0.28	-0.83	0.61	0.8	0.93	-0.85		0.76	PYA
SXC	0.41	-0.8	0.55	0.81	0.8	-0.5	0.76		SXC
	AFW	YE42	D2V	762	1MA	S92	PYA	SXC

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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

PYA	+ 0.93	1MA
SXC	+ 0.81	762
1MA	+ 0.8	762
PYA	+ 0.8	762
SXC	+ 0.8	1MA
SXC	+ 0.76	PYA

High negative correlations

1MA	- 0.87	YE42
PYA	- 0.85	S92
762	- 0.84	YE42
PYA	- 0.83	YE42
S92	- 0.81	1MA
SXC	- 0.8	YE42

Risk-Adjusted Indicators

There is a big difference between HALSTEAD Stock performing well and HALSTEAD JAMES 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 HALSTEAD JAMES'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
AFW	1.45	(0.16)	0.00	(0.44)	0.00	0.00	3.35	(3.02)	9.80
YE42	1.66	(0.48)	0.00	(1.46)	0.00	0.00	3.70	(5.71)	16.52
D2V	1.47	0.21	0.09	(1.24)	1.77	(1.83)	3.44	(3.05)	19.66
762	2.50	0.41	0.15	0.48	2.25	(3.61)	6.56	(3.64)	18.84
1MA	2.02	0.48	0.22	0.38	1.74	(2.74)	4.67	(3.52)	17.86
S92	2.85	(0.34)	0.00	0.43	0.00	0.00	4.99	(5.27)	25.26
PYA	2.62	0.51	0.18	(20.85)	2.17	(3.72)	7.10	(3.97)	17.56
SXC	2.88	0.83	0.24	2.11	2.92	(3.61)	6.52	(4.72)	20.55

Be your own money manager

Our tools can tell you how much better you can do entering a position in HALSTEAD JAMES 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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