SCANDION ONC Correlations
| 8VY Stock | EUR 0.0006 0.00 0.00% |
The current 90-days correlation between SCANDION ONC DK and China Resources Beer is -0.2 (i.e., Good diversification). The correlation of SCANDION ONC 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.
SCANDION ONC Correlation With Market
Good diversification
The correlation between SCANDION ONC DK 0735 and DJI is -0.02 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding SCANDION ONC DK 0735 and DJI in the same portfolio, assuming nothing else is changed.
SCANDION |
The ability to find closely correlated positions to SCANDION ONC could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace SCANDION ONC 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 SCANDION ONC - 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 SCANDION ONC DK 0735 to buy it.
Moving together with SCANDION Stock
Moving against SCANDION Stock
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Related Correlations Analysis
| 0.52 | -0.41 | -0.6 | 0.75 | 0.68 | CHK | ||
| 0.52 | -0.22 | -0.78 | 0.63 | 0.64 | CVU | ||
| -0.41 | -0.22 | 0.41 | -0.16 | -0.2 | 6E2 | ||
| -0.6 | -0.78 | 0.41 | -0.66 | -0.66 | FV8 | ||
| 0.75 | 0.63 | -0.16 | -0.66 | 0.73 | T6W | ||
| 0.68 | 0.64 | -0.2 | -0.66 | 0.73 | T6W | ||
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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 SCANDION Stock performing well and SCANDION ONC 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 SCANDION ONC'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| CHK | 1.56 | (0.03) | 0.00 | 0.24 | 0.00 | 4.56 | 9.62 | |||
| CVU | 1.90 | (0.40) | 0.00 | 1.26 | 0.00 | 4.13 | 18.00 | |||
| 6E2 | 1.81 | 0.22 | 0.02 | (2.25) | 2.03 | 4.17 | 10.86 | |||
| FV8 | 1.59 | 0.23 | 0.08 | 0.51 | 1.65 | 3.85 | 10.46 | |||
| T6W | 1.22 | (0.03) | 0.00 | 0.25 | 0.00 | 3.33 | 9.19 | |||
| T6W | 2.74 | (0.02) | 0.00 | 0.21 | 0.00 | 6.67 | 16.25 |
SCANDION ONC Related Equities
One of the popular trading techniques among algorithmic traders is to use market-neutral strategies where every trade hedges away some risk. Because there are two separate transactions required, even if one position performs unexpectedly, the other equity can make up some of the losses. Below are some of the equities that can be combined with SCANDION ONC stock to make a market-neutral strategy. Peer analysis of SCANDION ONC could also be used in its relative valuation, which is a method of valuing SCANDION ONC by comparing valuation metrics with similar companies.
| Risk & Return | Correlation |