DOLFINES Correlations

Stocks . Germany . 
Stock . DOLFINES SA EO
JPZ0 Stock   1.50  0.04  2.74%   
The current 90-days correlation between DOLFINES SA EO and Apple Inc is -0.06 (i.e., Good diversification). The correlation of DOLFINES 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.

DOLFINES Correlation With Market

Significant diversification

The correlation between DOLFINES SA EO and DJI is 0.04 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding DOLFINES SA EO and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to DOLFINES could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace DOLFINES 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 DOLFINES - 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 DOLFINES SA EO to buy it.

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between DOLFINES Stock performing well and DOLFINES 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 DOLFINES'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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
APC  1.01  0.22  0.10  1.35  1.15 
(1.09)
 2.12 
(1.96)
 6.17 
APC  0.96  0.22  0.10  1.22  1.19 
(1.03)
 2.09 
(2.07)
 6.90 
APC  0.96  0.20  0.11  0.63  1.07 
(1.04)
 2.23 
(1.83)
 5.72 
APC  1.03  0.25  0.10 (6.20) 1.24 
(1.10)
 2.24 
(2.12)
 9.79 
APC  1.03  0.25  0.12 (4.95) 0.99 
(1.20)
 2.83 
(2.01)
 8.21 
APC  0.94  0.24  0.11  4.00  1.13 
(1.04)
 2.29 
(1.78)
 7.12 
MSF  0.96  0.12  0.04  0.64  1.21 
(1.20)
 2.55 
(1.46)
 8.71 
MSF  1.01  0.15  0.05  2.05  1.29 
(1.17)
 2.35 
(1.56)
 9.11 
MSF  1.01  0.14  0.04  1.66  1.44 
(1.19)
 2.42 
(1.55)
 11.42 
MSF  0.94  0.16  0.05  3.45  1.26 
(1.05)
 2.04 
(1.48)
 8.79 

DOLFINES Related Equities

One of the popular trading techniques among algorithmic traders is to use market-neutral strategies where every trade hedges away some risk. Because there are two separate transactions required, even if one position performs unexpectedly, the other equity can make up some of the losses. Below are some of the equities that can be combined with DOLFINES stock to make a market-neutral strategy. Peer analysis of DOLFINES could also be used in its relative valuation, which is a method of valuing DOLFINES by comparing valuation metrics with similar companies.
 Risk & Return  Correlation
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