Sino AG Correlations

XTP Stock

EUR 63.50 1.50 2.31%

The current 90-days correlation between Sino AG and SIVERS SEMICONDUCTORS AB is -0.11 (i.e., Good diversification). The correlation of Sino AG 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.

Sino AG Correlation With Market

Significant diversification

The correlation between Sino AG and DJI is 0.07 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Sino AG and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Sino Stock

0.68	DWD	Morgan Stanley	Pair Corr
0.69	DWD	Morgan Stanley	Pair Corr
0.79	SWG	Charles Schwab	Pair Corr
0.74	GOS	Goldman Sachs	Pair Corr
0.74	GOS	Goldman Sachs	Pair Corr
0.66	DUT	Moodys	Pair Corr
0.73	KR51	KKR Co LP	Pair Corr
0.86	FHL	Federal Home Loan	Pair Corr
0.65	APC	Apple Inc	Pair Corr

Moving against Sino Stock

0.45	LLD2	Lloyds Banking Group	Pair Corr
0.45	TKDA	Takeda Pharmaceutical	Pair Corr

Related Correlations Analysis

	DWD	GOS	8SP	6NM	39O1	2DG	TM9	TLX	INVN	NOH1
DWD		0.97	-0.86	-0.26	-0.1	-0.93	-0.25	0.16	0.91	0.72	DWD
GOS	0.97		-0.84	-0.19	-0.18	-0.91	-0.31	0.32	0.89	0.63	GOS
8SP	-0.86	-0.84		0.53	0.29	0.79	0.34	0.03	-0.77	-0.56	8SP
6NM	-0.26	-0.19	0.53		0.46	0.2	0.11	0.42	-0.12	-0.08	6NM
39O1	-0.1	-0.18	0.29	0.46		0.15	0.41	-0.22	-0.01	0.39	39O1
2DG	-0.93	-0.91	0.79	0.2	0.15		0.26	-0.23	-0.87	-0.68	2DG
TM9	-0.25	-0.31	0.34	0.11	0.41	0.26		-0.24	-0.22	0.18	TM9
TLX	0.16	0.32	0.03	0.42	-0.22	-0.23	-0.24		0.23	-0.07	TLX
INVN	0.91	0.89	-0.77	-0.12	-0.01	-0.87	-0.22	0.23		0.74	INVN
NOH1	0.72	0.63	-0.56	-0.08	0.39	-0.68	0.18	-0.07	0.74		NOH1
	DWD	GOS	8SP	6NM	39O1	2DG	TM9	TLX	INVN	NOH1

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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

GOS	+ 0.97	DWD
INVN	+ 0.91	DWD
INVN	+ 0.89	GOS
2DG	+ 0.79	8SP
NOH1	+ 0.74	INVN
NOH1	+ 0.72	DWD

High negative correlations

2DG	- 0.93	DWD
2DG	- 0.91	GOS
INVN	- 0.87	2DG
8SP	- 0.86	DWD
8SP	- 0.84	GOS
INVN	- 0.77	8SP

Risk-Adjusted Indicators

There is a big difference between Sino Stock performing well and Sino AG 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 Sino AG'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
DWD	1.35	0.49	0.22	(3.71)	1.14	(1.66)	3.31	(2.55)	17.21
GOS	1.31	0.37	0.16	20.96	1.14	(1.61)	2.53	(1.85)	17.68
8SP	2.05	(0.27)	0.00	(0.13)	0.00	0.00	3.36	(4.74)	20.22
6NM	1.22	(0.06)	(0.04)	0.05	1.70	(1.39)	2.89	(2.69)	9.64
39O1	3.51	(0.07)	0.00	0.08	3.50	(4.94)	8.41	(5.47)	24.06
2DG	4.54	(0.84)	0.00	1.89	0.00	0.00	9.09	(9.09)	52.42
TM9	2.79	(0.13)	(0.03)	(0.01)	4.21	(3.19)	5.56	(6.43)	36.50
TLX	0.95	(0.03)	(0.08)	0.07	1.14	(1.05)	2.67	(1.64)	7.58
INVN	2.04	0.26	0.07	0.83	2.11	(2.48)	5.59	(4.04)	14.01
NOH1	2.12	0.21	0.05	1.08	1.94	(2.74)	6.61	(3.38)	12.96

Be your own money manager

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