WGHT WTCHER Correlations

Stocks . Germany . 
Stock . WGHT WTCHER INTL
WW6 Stock  EUR 1.37  0.09  6.16%   
The current 90-days correlation between WGHT WTCHER INTL and Check Point Software is 0.12 (i.e., Average diversification). The correlation of WGHT WTCHER 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.
  
The ability to find closely correlated positions to WGHT WTCHER could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace WGHT WTCHER 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 WGHT WTCHER - 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 WGHT WTCHER INTL to buy it.

Moving together with WGHT Stock

  0.67APC Apple IncPairCorr
  0.68APC Apple IncPairCorr
  0.67APC Apple IncPairCorr
  0.68APC Apple IncPairCorr
  0.68APC Apple IncPairCorr
  0.68APC Apple IncPairCorr

Moving against WGHT Stock

  0.48SSUN Samsung ElectronicsPairCorr
  0.47SSUN Samsung ElectronicsPairCorr
  0.43SSU Samsung ElectronicsPairCorr
  0.42SSU Samsung ElectronicsPairCorr

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   
CAC1
+ 0.8
7FZ
7FZ
+ 0.7
XFB
XFB
+ 0.69
CPW
7FZ
+ 0.65
CPW
CAC1
+ 0.59
XFB
CAC1
+ 0.56
VHY
  
High negative correlations   
1MA
- 0.35
XFB
1MA
- 0.11
CPW

Risk-Adjusted Indicators

There is a big difference between WGHT Stock performing well and WGHT WTCHER 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 WGHT WTCHER'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 WGHT WTCHER 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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