USWE SPORTS Correlations

9GY Stock

1.21 0.10 9.01%

The current 90-days correlation between USWE SPORTS AB and PRINCIPAL FINANCIAL is 0.01 (i.e., Significant diversification). The correlation of USWE SPORTS 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.

USWE SPORTS Correlation With Market

Good diversification

The correlation between USWE SPORTS AB and DJI is -0.04 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding USWE SPORTS AB and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with USWE Stock

0.67	PCE1	Booking Holdings Earnings Call This Week	Pair Corr
0.92	RC8	Royal Caribbean Group Earnings Call This Week	Pair Corr
0.66	E3X1	Expedia Group	Pair Corr
0.88	CVC1	Carnival plc	Pair Corr
0.68	E908	Lyxor 1	Pair Corr
0.61	DBPE	Xtrackers LevDAX	Pair Corr

Moving against USWE Stock

0.66	OLL	Oriental Land Earnings Call This Week	Pair Corr
0.6	DBPD	Xtrackers ShortDAX	Pair Corr
0.5	BZG2	BANK CENTRAL ASIA Earnings Call Today	Pair Corr
0.42	PQ9	BANK MANDIRI	Pair Corr
0.39	PQ9	PT Bank Mandiri	Pair Corr

Related Correlations Analysis

	PG4	PNP	LA3A	DVY	HE1	SYU1	CE1	9EV
PG4		0.69	0.83	0.65	0.43	0.67	0.46	0.0	PG4
PNP	0.69		0.76	0.29	0.6	0.99	0.41	0.0	PNP
LA3A	0.83	0.76		0.58	0.52	0.74	0.59	0.0	LA3A
DVY	0.65	0.29	0.58		0.47	0.26	0.76	0.0	DVY
HE1	0.43	0.6	0.52	0.47		0.54	0.64	0.0	HE1
SYU1	0.67	0.99	0.74	0.26	0.54		0.39	0.0	SYU1
CE1	0.46	0.41	0.59	0.76	0.64	0.39		0.0	CE1
9EV	0.0	0.0	0.0	0.0	0.0	0.0	0.0		9EV
	PG4	PNP	LA3A	DVY	HE1	SYU1	CE1	9EV

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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

SYU1	+ 0.99	PNP
LA3A	+ 0.83	PG4
LA3A	+ 0.76	PNP
CE1	+ 0.76	DVY
SYU1	+ 0.74	LA3A
PNP	+ 0.69	PG4

High negative correlations

9EV	- 0.0	CE1
9EV	- 0.0	SYU1
9EV	- 0.0	HE1
9EV	- 0.0	DVY
9EV	- 0.0	LA3A
9EV	- 0.0	PNP

Risk-Adjusted Indicators

There is a big difference between USWE Stock performing well and USWE SPORTS 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 USWE SPORTS'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
PG4	1.16	0.17	(0.03)	(0.33)	1.33	(1.60)	2.32	(3.03)	10.16
PNP	1.34	0.40	0.15	(1.82)	0.96	(1.90)	3.47	(1.87)	9.33
LA3A	1.43	0.24	0.02	(1.39)	1.74	(1.80)	2.91	(2.55)	13.68
DVY	2.02	0.08	(0.02)	0.51	2.34	(3.16)	3.96	(4.24)	24.65
HE1	3.38	1.15	0.22	(1.91)	2.43	(5.72)	9.52	(3.70)	23.17
SYU1	1.58	0.44	0.15	(5.09)	1.32	(2.02)	4.15	(2.38)	10.14
CE1	1.73	0.13	0.03	0.37	1.81	(2.73)	3.74	(2.29)	24.83
9EV	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00

Be your own money manager

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