VOLKSWAGEN Correlations

VOWB Stock

EUR 7.90 0.05 0.64%

The current 90-days correlation between VOLKSWAGEN AG VZ and Ping An Insurance is -0.07 (i.e., Good diversification). The correlation of VOLKSWAGEN 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.

VOLKSWAGEN Correlation With Market

Average diversification

The correlation between VOLKSWAGEN AG VZ and DJI is 0.14 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding VOLKSWAGEN AG VZ and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with VOLKSWAGEN Stock

0.89	DAII	MERCEDES BENZ GRP	Pair Corr
0.97	VOWA	VOLKSWAGEN ADR 110ON	Pair Corr
0.97	VOW	Volkswagen AG	Pair Corr

Moving against VOLKSWAGEN Stock

0.88	TL0	Tesla Inc	Pair Corr
0.58	W5E	Peel Mining Limited	Pair Corr
0.31	BY6	BYD Limited	Pair Corr

Related Correlations Analysis

	PZX	AF4	PNT	NWC	NRM	2OX	NWC	ZFI1
PZX		0.45	0.63	0.13	0.05	0.44	0.09	0.53	PZX
AF4	0.45		0.93	-0.22	0.78	0.93	-0.19	0.8	AF4
PNT	0.63	0.93		-0.16	0.62	0.93	-0.14	0.83	PNT
NWC	0.13	-0.22	-0.16		-0.18	-0.42	0.9	0.04	NWC
NRM	0.05	0.78	0.62	-0.18		0.69	-0.13	0.65	NRM
2OX	0.44	0.93	0.93	-0.42	0.69		-0.39	0.77	2OX
NWC	0.09	-0.19	-0.14	0.9	-0.13	-0.39		0.05	NWC
ZFI1	0.53	0.8	0.83	0.04	0.65	0.77	0.05		ZFI1
	PZX	AF4	PNT	NWC	NRM	2OX	NWC	ZFI1

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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

PNT	+ 0.93	AF4
2OX	+ 0.93	AF4
2OX	+ 0.93	PNT
NWC	+ 0.9	NWC
ZFI1	+ 0.83	PNT
ZFI1	+ 0.8	AF4

High negative correlations

2OX	- 0.42	NWC
NWC	- 0.39	2OX
NWC	- 0.22	AF4
NWC	- 0.19	AF4
NRM	- 0.18	NWC
NWC	- 0.16	PNT

Risk-Adjusted Indicators

There is a big difference between VOLKSWAGEN Stock performing well and VOLKSWAGEN 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 VOLKSWAGEN'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
PZX	3.05	0.94	0.20	(2.23)	3.07	(3.75)	8.08	(3.85)	37.97
AF4	1.18	0.29	0.17	0.74	0.83	(1.70)	3.23	(1.94)	7.20
PNT	0.99	0.40	0.33	0.86	0.50	(1.25)	2.77	(1.38)	6.04
NWC	2.42	0.02	(0.02)	0.21	3.23	(2.90)	5.38	(4.85)	16.03
NRM	1.22	0.21	0.07	0.99	1.32	(1.50)	3.52	(2.22)	11.70
2OX	1.74	0.68	0.39	1.25	1.00	(2.11)	4.90	(2.41)	15.12
NWC	2.22	0.06	0.00	0.25	3.17	(2.34)	4.30	(4.95)	15.96
ZFI1	1.44	0.19	0.04	2.31	1.51	(2.28)	4.51	(3.62)	8.83

Be your own money manager

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