Schloss Wachenheim Correlations

SWA Stock

14.50 0.20 1.36%

The current 90-days correlation between Schloss Wachenheim and CarsalesCom is 0.05 (i.e., Significant diversification). The correlation of Schloss Wachenheim 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. If the correlation is 0, the equities are not correlated; they are entirely random.

Schloss Wachenheim Correlation With Market

Significant diversification

The correlation between Schloss Wachenheim AG and DJI is 0.02 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Schloss Wachenheim AG and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Schloss Stock

0.69	HYU	Hyundai Motor	Pair Corr
0.68	HYU	Hyundai Motor	Pair Corr
0.67	HYU	Hyundai Motor	Pair Corr

Moving against Schloss Stock

0.61	MFZA	Mitsubishi UFJ Financial	Pair Corr
0.5	MSF	Microsoft	Pair Corr
0.49	MSF	Microsoft	Pair Corr
0.48	MSF	Microsoft	Pair Corr
0.48	MSF	Microsoft	Pair Corr
0.41	6GAA	Grupo Aval Acciones	Pair Corr
0.4	6GAA	Grupo Aval Acciones	Pair Corr

Related Correlations Analysis

	2UA	0VD	HTG	A4XA	O3I	WN6	WN6	A41
2UA		0.33	-0.15	-0.01	-0.35	-0.59	-0.64	0.37	2UA
0VD	0.33		0.14	-0.28	0.22	-0.49	-0.54	0.31	0VD
HTG	-0.15	0.14		-0.04	0.69	0.32	0.3	0.03	HTG
A4XA	-0.01	-0.28	-0.04		-0.09	0.32	0.26	0.13	A4XA
O3I	-0.35	0.22	0.69	-0.09		0.52	0.5	-0.09	O3I
WN6	-0.59	-0.49	0.32	0.32	0.52		0.95	-0.27	WN6
WN6	-0.64	-0.54	0.3	0.26	0.5	0.95		-0.27	WN6
A41	0.37	0.31	0.03	0.13	-0.09	-0.27	-0.27		A41
	2UA	0VD	HTG	A4XA	O3I	WN6	WN6	A41

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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

WN6	+ 0.95	WN6
O3I	+ 0.69	HTG
WN6	+ 0.52	O3I
WN6	+ 0.5	O3I
A41	+ 0.37	2UA
0VD	+ 0.33	2UA

High negative correlations

WN6	- 0.64	2UA
WN6	- 0.59	2UA
WN6	- 0.54	0VD
WN6	- 0.49	0VD
O3I	- 0.35	2UA
A4XA	- 0.28	0VD

Risk-Adjusted Indicators

There is a big difference between Schloss Stock performing well and Schloss Wachenheim 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 Schloss Wachenheim'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
2UA	0.94	(0.08)	0.00	(0.06)	0.00	0.00	1.94	(1.94)	10.73
0VD	1.11	0.01	(0.07)	0.20	1.12	(1.27)	2.59	(1.75)	5.65
HTG	1.88	0.16	0.01	(0.46)	1.90	(2.73)	4.26	(3.74)	16.06
A4XA	1.56	(0.04)	(0.06)	(0.02)	1.66	(1.91)	3.55	(2.34)	9.43
O3I	1.01	0.20	0.11	0.69	0.87	(1.13)	2.65	(1.43)	6.73
WN6	1.13	0.13	0.01	1.89	1.22	(1.58)	2.73	(2.42)	6.24
WN6	1.16	0.04	0.00	0.19	1.21	(1.53)	2.65	(2.34)	6.13
A41	1.44	(0.05)	(0.05)	(0.01)	1.79	(1.90)	3.54	(2.61)	9.75

Be your own money manager

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