| NR21 Stock | | | 35.20 3.20 10.00% |
The current 90-days correlation between NR 21 SA and Centrale dAchat Franaise is 0.26 (i.e., Modest diversification). The correlation of NR 21 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.
NR 21 Correlation With Market
Good diversification
The correlation between NR 21 SA and DJI is -0.11 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding NR 21 SA and DJI in the same portfolio, assuming nothing else is changed.
The ability to find closely correlated positions to NR 21 could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace NR 21 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 NR 21 - 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 NR 21 SA to buy it.
Moving together with NR21 Stock
Moving against NR21 Stock
Related Correlations Analysis
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 | | High negative correlations | SMCP | | CAFO | | ALDAR | | PSAT | | SMCP | | PSAT | | SMCP | | ALDAR |
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Risk-Adjusted IndicatorsThere is a big difference between NR21 Stock performing well and NR 21 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 NR 21'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.
Be your own money manager
Our tools can tell you how much better you can do entering a position in NR 21 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.
| | Portfolio VolatilityCheck portfolio volatility and analyze historical return density to properly model market risk |