Coloplast Correlations
| COLO-B Stock | DKK 841.20 4.80 0.57% |
The correlation of Coloplast 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 perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Coloplast moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Coloplast AS moves in either direction, the perfectly negatively correlated security will move in the opposite direction. If the correlation is 0, the equities are not correlated; they are entirely random. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.
Modest diversification
The correlation between Coloplast AS and NYA 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 Coloplast AS and NYA in the same portfolio, assuming nothing else is changed.
Coloplast |
The ability to find closely correlated positions to Coloplast could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Coloplast 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 Coloplast - 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 Coloplast AS to buy it.
Moving together with Coloplast Stock
Moving against Coloplast Stock
| 0.91 | MAERSK-A | AP Mller | PairCorr |
| 0.88 | MAERSK-B | AP Mller | PairCorr |
| 0.52 | DSV | DSV Panalpina AS | PairCorr |
| 0.44 | ORSTED | Orsted AS | PairCorr |
Related Correlations Analysis
| Click cells to compare fundamentals | Check Volatility | Backtest Portfolio |
Risk-Adjusted Indicators
There is a big difference between Coloplast Stock performing well and Coloplast 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 Coloplast'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 Coloplast 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?
Run Equity Valuation Now
Equity ValuationCheck real value of public entities based on technical and fundamental data |
| All Next | Launch Module |
Coloplast Corporate Management
Elected by the shareholders, the Coloplast's board of directors comprises two types of representatives: Coloplast inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Coloplast. The board's role is to monitor Coloplast's management team and ensure that shareholders' interests are well served. Coloplast'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, Coloplast's outside directors are responsible for providing unbiased perspectives on the board's policies.
| Ellen Bjurgert | VP Relations | Profile | |
| Allan Rasmussen | Ex Operations | Profile | |
| Alain Morvan | VP Europe | Profile | |
| Nicolai Andersen | Ex Innovation | Profile | |
| Thomas Barfod | Controller Director | Profile | |
| Anders LonningSkovgaard | Ex CFO | Profile | |
| Kristian Villumsen | Pres CEO | Profile |
Already Invested in Coloplast AS?
The danger of trading Coloplast AS is mainly related to its market volatility and Company specific events. As an investor, you must understand the concept of risk-adjusted return before you start trading. The most common way to measure the risk of Coloplast is by using the Sharpe ratio. The ratio expresses how much excess return you acquire for the extra volatility you endure for holding a more risker asset than Coloplast. The Sharpe ratio is calculated by using standard deviation and excess return to determine reward per unit of risk. To understand how volatile Coloplast AS is, you must compare it to a benchmark. Traditionally, the risk-free rate of return is the rate of return on the shortest-dated U.S. Treasury, such as a 3-year bond.
Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Coloplast AS. Also, note that the market value of any company could be tightly coupled with the direction of predictive economic indicators such as signals in board of governors. You can also try the Money Flow Index module to determine momentum by analyzing Money Flow Index and other technical indicators.
Complementary Tools for Coloplast Stock analysis
When running Coloplast's price analysis, check to measure Coloplast's market volatility, profitability, liquidity, solvency, efficiency, growth potential, financial leverage, and other vital indicators. We have many different tools that can be utilized to determine how healthy Coloplast is operating at the current time. Most of Coloplast's value examination focuses on studying past and present price action to predict the probability of Coloplast's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Coloplast's price. Additionally, you may evaluate how the addition of Coloplast to your portfolios can decrease your overall portfolio volatility.
| Equity Search Search for actively traded equities including funds and ETFs from over 30 global markets | |
| Piotroski F Score Get Piotroski F Score based on the binary analysis strategy of nine different fundamentals | |
| ETF Categories List of ETF categories grouped based on various criteria, such as the investment strategy or type of investments | |
| Correlation Analysis Reduce portfolio risk simply by holding instruments which are not perfectly correlated | |
| Price Exposure Probability Analyze equity upside and downside potential for a given time horizon across multiple markets | |
| Transaction History View history of all your transactions and understand their impact on performance | |
| Portfolio Comparator Compare the composition, asset allocations and performance of any two portfolios in your account |