Nokian Tyres Related Correlations

NKRKY Stock  USD 4.72  0.01  0.21%   
Generate correlation matrix for Nokian Tyres and other related equities to check the degree to which Nokian Tyres Plc price movement is correlated to its related entities. Use comma (,) to separate each symbol. If not specified, the peers will be provided automatically based on Macroaxis sector classification standards for Nokian Tyres Plc. To filter out specific equities, please toggle its corresponding legend item. Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in Nokian Tyres Plc. Also, note that the market value of any company could be tightly coupled with the direction of predictive economic indicators such as signals in industry.
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Please note, there is a significant difference between Nokian Tyres' value and its price as these two are different measures arrived at by different means. Investors typically determine if Nokian Tyres is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Nokian Tyres' price is the amount at which it trades on the open market and represents the number that a seller and buyer find agreeable to each party.

Correlations

MBLY
APTV
MGA
CTTAY
MBLY
0.730.630.28
MBLY
APTV
0.730.860.68
APTV
MGA
0.630.860.66
MGA
CTTAY
0.280.680.66
CTTAY
MBLY
APTV
MGA
CTTAY
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Risk-Adjusted Indicators

There is a big difference between Nokian Pink Sheet performing well and Nokian Tyres 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 Nokian Tyres' 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.