Thyssenkrupp Correlations

Stocks . Germany . 
Stock . thyssenkrupp AG
TKA Stock  EUR 3.88  0.01  0.26%   
The current 90-days correlation between thyssenkrupp AG and Allegheny Technologies Incorporated is 0.27 (i.e., Modest diversification). The correlation of Thyssenkrupp 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.

Thyssenkrupp Correlation With Market

Average diversification

The correlation between thyssenkrupp AG and DJI is 0.16 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding thyssenkrupp AG and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to Thyssenkrupp could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Thyssenkrupp 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 Thyssenkrupp - 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 thyssenkrupp AG to buy it.

Moving together with Thyssenkrupp Stock

  1.0TKA thyssenkrupp AGPairCorr
  0.95TKA1 thyssenkrupp AGPairCorr
  0.93TKA1 thyssenkrupp AGPairCorr
  0.76XTY Carpenter TechnologyPairCorr
  0.75A2R Accent ResourcesPairCorr
  0.81H0O REVO INSURANCE SPAPairCorr
  0.73QAN Qantas AirwaysPairCorr
  0.77MAQ Marriott InternationalPairCorr
  0.73AF4 HANOVER INSURANCEPairCorr
  0.86ENR Siemens Energy AGPairCorr
  0.79EMR EMERSON ELECTRICPairCorr
  0.71BBEA Boston BeerPairCorr
  0.79GKD Grand Canyon EducationPairCorr
  0.85APC Apple IncPairCorr
  0.783P7 Pandora A/SPairCorr
  0.896GAA Grupo Aval AccionesPairCorr
  0.66KEY KeyCorpPairCorr
  0.64BRYN Berkshire HathawayPairCorr
  0.86BZZ Bank of MontrealPairCorr
  0.75OM6 OReilly AutomotivePairCorr
  0.96GAA Grupo Aval AccionesPairCorr
  0.7117 Arista Networks SplitPairCorr
  0.77HI91 Hilton Worldwide HoldingsPairCorr
  0.68ZIM Zimmer Biomet HoldingsPairCorr
  0.81DC4 DexCom IncPairCorr
  0.63TM5 T MobilePairCorr

Moving against Thyssenkrupp Stock

  0.62HVB STRA HannoverschePairCorr
  0.6GD6 Ramsay Gnrale dePairCorr
  0.45DFXN SIERRA METALSPairCorr

Related Correlations Analysis

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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   
TKA1
+ 0.95
TKA
XTY
+ 0.74
TKA
XTY
+ 0.7
TKA1
XTY
+ 0.6
MUD
MUD
+ 0.33
TKA
MUD
+ 0.31
TKA1
  
High negative correlations   
MUD
- 0.63
ATD
TKA
- 0.26
OCM
TKA1
- 0.24
OCM
TKA1
- 0.22
ATD
TKA
- 0.22
ATD
XTY
- 0.21
ATD

Risk-Adjusted Indicators

There is a big difference between Thyssenkrupp Stock performing well and Thyssenkrupp 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 Thyssenkrupp'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 Thyssenkrupp 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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Thyssenkrupp Corporate Management

Elected by the shareholders, the Thyssenkrupp's board of directors comprises two types of representatives: Thyssenkrupp inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Thyssenkrupp. The board's role is to monitor Thyssenkrupp's management team and ensure that shareholders' interests are well served. Thyssenkrupp's inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, Thyssenkrupp's outside directors are responsible for providing unbiased perspectives on the board's policies.
Klaus KeysbergCFO BoardProfile
Oliver BurkhardLabor OfficerProfile
Martina MerzCEO BoardProfile
Isolde WurzHead CounselProfile
Stefan SchmittHead ManagementProfile
Maximilian MuggenhamerHead TestingProfile
Karsten KroosChief TechnologyProfile
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