Rheinmetall Correlations

RNMBF Stock

USD 663.08 13.13 2.02%

The current 90-days correlation between Rheinmetall AG and Leonardo SpA ADR is 0.4 (i.e., Very weak diversification). The correlation of Rheinmetall 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.

Rheinmetall Correlation With Market

Modest diversification

The correlation between Rheinmetall AG and DJI is 0.23 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Rheinmetall AG and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Rheinmetall Pink Sheet

0.73	FNMFO	Federal National Mortgage	Pair Corr
0.65	DIS	Walt Disney Sell-off Trend	Pair Corr

Moving against Rheinmetall Pink Sheet

0.58	TDG	Transdigm Group	Pair Corr
0.54	GD	General Dynamics Fiscal Year End 22nd of January 2025	Pair Corr
0.53	NOC	Northrop Grumman Fiscal Year End 23rd of January 2025	Pair Corr
0.51	LMT	Lockheed Martin Fiscal Year End 28th of January 2025	Pair Corr
0.44	BCH	Banco De Chile	Pair Corr
0.31	SHG	Shinhan Financial	Pair Corr
0.48	JNJ	Johnson Johnson Sell-off Trend	Pair Corr
0.41	KO	Coca Cola Aggressive Push	Pair Corr

Related Correlations Analysis

	LMT	BAESY	QNTQY	FINMY	EADSY	HEI-A	TDG	LHX	HII	AVAV
LMT		0.24	0.64	-0.65	-0.3	-0.17	0.7	-0.12	0.68	0.18	LMT
BAESY	0.24		0.49	0.15	0.25	-0.19	0.2	0.09	0.26	0.2	BAESY
QNTQY	0.64	0.49		-0.59	0.22	-0.7	0.45	-0.27	0.73	0.17	QNTQY
FINMY	-0.65	0.15	-0.59		0.34	0.5	-0.27	0.62	-0.77	0.27	FINMY
EADSY	-0.3	0.25	0.22	0.34		-0.31	0.11	0.31	-0.17	0.47	EADSY
HEI-A	-0.17	-0.19	-0.7	0.5	-0.31		-0.05	0.27	-0.41	-0.13	HEI-A
TDG	0.7	0.2	0.45	-0.27	0.11	-0.05		0.44	0.24	0.68	TDG
LHX	-0.12	0.09	-0.27	0.62	0.31	0.27	0.44		-0.64	0.82	LHX
HII	0.68	0.26	0.73	-0.77	-0.17	-0.41	0.24	-0.64		-0.27	HII
AVAV	0.18	0.2	0.17	0.27	0.47	-0.13	0.68	0.82	-0.27		AVAV
	LMT	BAESY	QNTQY	FINMY	EADSY	HEI-A	TDG	LHX	HII	AVAV

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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

AVAV	+ 0.82	LHX
HII	+ 0.73	QNTQY
TDG	+ 0.7	LMT
HII	+ 0.68	LMT
AVAV	+ 0.68	TDG
QNTQY	+ 0.64	LMT

High negative correlations

HII	- 0.77	FINMY
HEI-A	- 0.7	QNTQY
FINMY	- 0.65	LMT
HII	- 0.64	LHX
FINMY	- 0.59	QNTQY
HII	- 0.41	HEI-A

Risk-Adjusted Indicators

There is a big difference between Rheinmetall Pink Sheet performing well and Rheinmetall 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 Rheinmetall'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
LMT	0.89	(0.13)	0.00	(0.24)	0.00	0.00	1.50	(1.51)	9.77
BAESY	1.34	(0.31)	0.00	(0.17)	0.00	0.00	2.37	(4.12)	7.54
QNTQY	1.46	(0.29)	0.00	(0.40)	0.00	0.00	3.16	(3.01)	14.35
FINMY	1.59	(0.04)	(0.01)	0.09	2.08	(1.76)	3.32	(2.67)	9.51
EADSY	1.34	(0.09)	(0.08)	0.00	1.59	(1.49)	3.50	(3.16)	7.38
HEI-A	1.08	(0.01)	(0.01)	0.12	1.24	(1.11)	2.40	(2.10)	5.63
TDG	1.25	(0.15)	(0.06)	(0.01)	2.22	(1.03)	2.35	(2.96)	10.06
LHX	0.97	0.03	(0.02)	0.18	1.28	(1.03)	2.19	(1.78)	8.70
HII	1.54	(0.69)	0.00	(0.23)	0.00	0.00	2.45	(2.65)	28.74
AVAV	2.16	(0.09)	(0.03)	0.04	3.08	(2.21)	4.22	(5.64)	19.18

Be your own money manager

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