Iberdrola Correlations

0HIT Stock

17.54 0.39 2.18%

The current 90-days correlation between Iberdrola and Indutrade AB is 0.16 (i.e., Average diversification). The correlation of Iberdrola 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.

Iberdrola Correlation With Market

Average diversification

The correlation between Iberdrola and DJI is 0.14 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Iberdrola and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Iberdrola Stock

0.82	TYT	Toyota Motor Corp	Pair Corr
0.81	0R15	SoftBank Group Corp Earnings Call Tomorrow	Pair Corr
0.85	SBID	State Bank	Pair Corr
0.61	0K87	NiSource	Pair Corr
0.67	JAGI	JPMorgan Asia Growth	Pair Corr
0.62	AO	Ao World	Pair Corr
0.76	OIT	Odyssean Investment Trust	Pair Corr
0.8	MKS	Marks and Spencer	Pair Corr
0.79	SMSN	Samsung Electronics	Pair Corr
0.73	0I1P	Comerica	Pair Corr
0.69	CLA	CAP LEASE AVIATION	Pair Corr
0.85	ONWD	Onward Opportunities	Pair Corr
0.79	PSN	Persimmon PLC	Pair Corr
0.65	BARC	Barclays PLC	Pair Corr

Moving against Iberdrola Stock

0.4	0IL0	Fannie Mae	Pair Corr
0.36	0IKZ	Freddie Mac	Pair Corr

Related Correlations Analysis

	GRX	MTLN	EUZ	0R8S	0H30	HANA	0IL1	LWI
GRX		-0.46	0.0	-0.4	0.64	-0.67	-0.18	0.53	GRX
MTLN	-0.46		0.0	0.87	-0.43	0.58	-0.44	-0.76	MTLN
EUZ	0.0	0.0		0.0	0.0	0.0	0.0	0.0	EUZ
0R8S	-0.4	0.87	0.0		-0.35	0.53	-0.38	-0.73	0R8S
0H30	0.64	-0.43	0.0	-0.35		-0.35	0.06	0.52	0H30
HANA	-0.67	0.58	0.0	0.53	-0.35		0.23	-0.38	HANA
0IL1	-0.18	-0.44	0.0	-0.38	0.06	0.23		0.25	0IL1
LWI	0.53	-0.76	0.0	-0.73	0.52	-0.38	0.25		LWI
	GRX	MTLN	EUZ	0R8S	0H30	HANA	0IL1	LWI

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

0R8S	+ 0.87	MTLN
0H30	+ 0.64	GRX
HANA	+ 0.58	MTLN
LWI	+ 0.53	GRX
HANA	+ 0.53	0R8S
LWI	+ 0.52	0H30

High negative correlations

LWI	- 0.76	MTLN
LWI	- 0.73	0R8S
HANA	- 0.67	GRX
MTLN	- 0.46	GRX
0IL1	- 0.44	MTLN
0H30	- 0.43	MTLN

Risk-Adjusted Indicators

There is a big difference between Iberdrola Stock performing well and Iberdrola 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 Iberdrola'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
GRX	1.06	0.03	(0.01)	0.19	1.28	(2.77)	4.00	(2.67)	11.68
MTLN	1.88	(0.27)	0.00	0.89	0.00	0.00	2.76	(5.33)	12.29
EUZ	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
0R8S	0.60	(0.18)	0.00	(0.62)	0.00	0.00	1.06	(1.57)	3.57
0H30	1.16	(0.06)	(0.06)	0.02	1.14	(1.56)	3.20	(1.83)	9.75
HANA	0.95	(0.05)	(0.05)	0.01	1.32	(1.10)	1.88	(2.38)	7.80
0IL1	0.75	0.08	0.02	0.33	0.90	(0.76)	1.86	(1.54)	6.24
LWI	0.45	0.04	(0.02)	0.21	0.49	(0.56)	0.97	(1.01)	3.09

Be your own money manager

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