Wartsila Oyj Correlations
| WRTBY Stock | USD 3.53 0.04 1.12% |
The current 90-days correlation between Wartsila Oyj Abp and Rockwell Automation is 0.19 (i.e., Average diversification). The correlation of Wartsila Oyj 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.
Wartsila Oyj Correlation With Market
Modest diversification
The correlation between Wartsila Oyj Abp and DJI is 0.21 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Wartsila Oyj Abp and DJI in the same portfolio, assuming nothing else is changed.
Wartsila |
The ability to find closely correlated positions to Wartsila Oyj could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Wartsila Oyj 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 Wartsila Oyj - 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 Wartsila Oyj Abp to buy it.
Moving against Wartsila Pink Sheet
| 0.77 | EMR | Emerson Electric | PairCorr |
| 0.74 | RUM | Rumble Inc Sell-off Trend | PairCorr |
| 0.72 | ITW | Illinois Tool Works | PairCorr |
| 0.7 | PH | Parker Hannifin | PairCorr |
| 0.65 | INMD | InMode | PairCorr |
| 0.59 | ETN | Eaton PLC | PairCorr |
| 0.57 | PYPL | PayPal Holdings Aggressive Push | PairCorr |
| 0.9 | BFLY | Butterfly Network | PairCorr |
| 0.88 | ET | Energy Transfer LP Aggressive Push | PairCorr |
| 0.84 | IONQ | IONQ Inc | PairCorr |
| 0.84 | NFLX | Netflix Fiscal Year End 28th of January 2025 | PairCorr |
| 0.83 | SOFI | SoFi Technologies | PairCorr |
| 0.82 | PLTR | Palantir Technologies Aggressive Push | PairCorr |
| 0.79 | LUNR | Intuitive Machines | PairCorr |
| 0.77 | BAC | Bank of America Fiscal Year End 10th of January 2025 | PairCorr |
| 0.75 | BBAI | BigBearai Holdings Tech Boost | PairCorr |
| 0.73 | AVTE | Aerovate Therapeutics | PairCorr |
| 0.73 | SOUN | SoundHound AI Trending | PairCorr |
| 0.71 | CRS | Carpenter Technology | PairCorr |
| 0.64 | FUND | Sprott Focus Trust | PairCorr |
| 0.51 | GOOG | Alphabet Class C Aggressive Push | PairCorr |
| 0.47 | APLD | Applied Blockchain | PairCorr |
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
| High negative correlations
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Risk-Adjusted Indicators
There is a big difference between Wartsila Pink Sheet performing well and Wartsila Oyj 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 Wartsila Oyj'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| SDVKY | 1.22 | 0.01 | (0.07) | 0.05 | 1.54 | 2.09 | 10.13 | |||
| SIEGY | 1.05 | 0.20 | 0.12 | 0.38 | 1.05 | 2.52 | 5.36 | |||
| ROK | 1.26 | 0.01 | 0.06 | 0.12 | 1.30 | 3.13 | 14.96 | |||
| PKOH | 1.53 | (0.10) | 0.04 | 0.07 | 1.70 | 2.61 | 19.17 | |||
| GTES | 1.15 | 0.32 | 0.35 | 0.37 | 0.53 | 3.47 | 6.97 | |||
| SMR | 6.03 | 1.89 | 0.35 | 5.31 | 4.21 | 13.76 | 48.65 | |||
| GHM | 1.89 | 0.45 | 0.38 | 0.30 | 1.11 | 4.68 | 19.69 | |||
| OFLX | 1.50 | (0.22) | 0.00 | (0.02) | 0.00 | 2.80 | 11.00 | |||
| GRC | 1.20 | 0.01 | 0.08 | 0.12 | 1.22 | 2.38 | 11.59 | |||
| HURC | 1.91 | 0.07 | 0.03 | 0.18 | 1.88 | 4.37 | 21.98 |
Be your own money manager
Our tools can tell you how much better you can do entering a position in Wartsila Oyj 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.Did you try this?
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Risk-Return AnalysisView associations between returns expected from investment and the risk you assume |
| All Next | Launch Module |
Wartsila Oyj Corporate Management
| Emilia Rantala | Ma Relations | Profile | |
| Sean Fernback | Ex Voyage | Profile | |
| Atte M | Branding Communications | Profile | |
| Tamara Gruyter | EVP, Systems | Profile | |
| Roger MSc | Ex Power | Profile | |
| Tuomas Salosaari | Chief Officer | Profile | |
| MA MA | Ex Board | Profile |