NEXON Co Correlations
| 7NX Stock | EUR 11.60 0.20 1.69% |
The current 90-days correlation between NEXON Co and CVS Health is 0.02 (i.e., Significant diversification). The correlation of NEXON Co 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.
NEXON Co Correlation With Market
Average diversification
The correlation between NEXON Co and DJI is 0.16 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding NEXON Co and DJI in the same portfolio, assuming nothing else is changed.
NEXON |
The ability to find closely correlated positions to NEXON Co could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace NEXON Co 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 NEXON Co - 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 NEXON Co to buy it.
Moving together with NEXON Stock
Moving against NEXON Stock
| 0.5 | XTP | Sino AG | PairCorr |
| 0.46 | 9EE | ZINZINO AB B | PairCorr |
| 0.56 | SNQB | Sanoma Oyj | PairCorr |
| 0.43 | APM | ad pepper media Earnings Call This Week | PairCorr |
| 0.39 | NNN1 | Tencent Holdings | PairCorr |
| 0.38 | 3CA | Plejd AB | PairCorr |
| 0.34 | KTN | Kontron AG | PairCorr |
| 0.57 | W8V | BANK OF CHINA | PairCorr |
| 0.54 | 4720 | CELLNTELECUNSPADR12 | PairCorr |
| 0.49 | HNR1 | Hannover Rck SE | PairCorr |
| 0.41 | KMY | Kimberly Clark | PairCorr |
| 0.38 | QJQ | ISS A/S Earnings Call This Week | PairCorr |
| 0.37 | RPU | REPUBLIC SERVICES | PairCorr |
Related Correlations Analysis
| 0.0 | 1.0 | 0.0 | 0.0 | 0.0 | 4P7 | ||
| 0.0 | 0.0 | -0.7 | 0.18 | -0.55 | CVS | ||
| 1.0 | 0.0 | 0.0 | 0.0 | 0.0 | DDX | ||
| 0.0 | -0.7 | 0.0 | 0.06 | 0.54 | 5EZ | ||
| 0.0 | 0.18 | 0.0 | 0.06 | -0.23 | MNL | ||
| 0.0 | -0.55 | 0.0 | 0.54 | -0.23 | WN6 | ||
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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
| High negative correlations
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Risk-Adjusted Indicators
There is a big difference between NEXON Stock performing well and NEXON Co 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 NEXON Co'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| 4P7 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
| CVS | 1.57 | 0.62 | 0.39 | 0.68 | 1.21 | 3.50 | 21.85 | |||
| DDX | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
| 5EZ | 1.10 | (0.10) | 0.00 | (1.90) | 0.00 | 2.39 | 6.22 | |||
| MNL | 1.60 | 0.07 | 0.00 | (0.08) | 0.00 | 3.85 | 13.37 | |||
| WN6 | 1.60 | (0.31) | 0.00 | (1.42) | 0.00 | 2.60 | 10.76 |
Be your own money manager
Our tools can tell you how much better you can do entering a position in NEXON Co 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?
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