Codan Correlations
| CODAF Stock | USD 10.59 0.00 0.00% |
The current 90-days correlation between Codan Limited and Microvision is -0.08 (i.e., Good diversification). The correlation of Codan 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.
Codan Correlation With Market
Significant diversification
The correlation between Codan Limited and DJI is 0.07 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Codan Limited and DJI in the same portfolio, assuming nothing else is changed.
Codan |
The ability to find closely correlated positions to Codan could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Codan 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 Codan - 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 Codan Limited to buy it.
Moving together with Codan Pink Sheet
| 0.73 | GRMN | Garmin | PairCorr |
| 0.7 | HXGBY | Hexagon AB ADR Earnings Call This Week | PairCorr |
| 0.83 | HXGBF | Hexagon AB Earnings Call This Week | PairCorr |
| 0.81 | KEYS | Keysight Technologies | PairCorr |
| 0.7 | TDY | Teledyne Technologies Earnings Call This Week | PairCorr |
| 0.81 | TRMB | Trimble | PairCorr |
| 0.78 | COHR | Coherent | PairCorr |
| 0.72 | TLKMF | Telkom Indonesia Tbk | PairCorr |
| 0.88 | TLK | Telkom Indonesia Tbk | PairCorr |
| 0.81 | BKNG | Booking Holdings | PairCorr |
| 0.82 | GOOGL | Alphabet Class A Earnings Call This Week | PairCorr |
| 0.7 | PTHL | Pheton Holdings | PairCorr |
| 0.73 | TR | Tootsie Roll Industries Earnings Call This Week | PairCorr |
| 0.85 | TWLO | Twilio Inc Tech Boost | PairCorr |
Moving against Codan Pink Sheet
| 0.37 | KYCCF | Keyence | PairCorr |
| 0.39 | FVR | FrontView REIT, | PairCorr |
| 0.38 | NIO | Nio Class A Aggressive Push | PairCorr |
| 0.59 | 372546AW1 | GEORGE WASH UNIV | PairCorr |
| 0.46 | 574599BR6 | MAS 3125 15 | PairCorr |
Related Correlations Analysis
| 0.68 | 0.76 | 0.52 | 0.08 | 0.12 | 0.78 | WATT | ||
| 0.68 | 0.49 | 0.18 | -0.01 | -0.12 | 0.46 | MVIS | ||
| 0.76 | 0.49 | 0.35 | 0.23 | 0.32 | 0.68 | GLSI | ||
| 0.52 | 0.18 | 0.35 | 0.28 | 0.16 | 0.28 | LMFA | ||
| 0.08 | -0.01 | 0.23 | 0.28 | -0.12 | 0.0 | KOSS | ||
| 0.12 | -0.12 | 0.32 | 0.16 | -0.12 | 0.15 | WNW | ||
| 0.78 | 0.46 | 0.68 | 0.28 | 0.0 | 0.15 | FTFT | ||
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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 Codan Pink Sheet performing well and Codan 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 Codan'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| WATT | 3.61 | 0.92 | 0.21 | 0.87 | 2.30 | 10.71 | 24.23 | |||
| MVIS | 3.55 | 0.11 | 0.04 | 0.20 | 4.28 | 10.28 | 25.47 | |||
| GLSI | 2.46 | 0.21 | 0.09 | 0.28 | 2.60 | 6.35 | 15.92 | |||
| LMFA | 6.56 | 1.59 | 0.31 | 1.04 | 4.71 | 23.81 | 41.27 | |||
| KOSS | 3.21 | 0.15 | 0.06 | 0.22 | 3.62 | 7.73 | 27.59 | |||
| WNW | 5.72 | 0.56 | 0.16 | 0.27 | 5.30 | 12.07 | 111.46 | |||
| FTFT | 7.83 | 2.30 | 0.23 | (2.59) | 7.39 | 13.28 | 194.94 |
Be your own money manager
Our tools can tell you how much better you can do entering a position in Codan 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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Codan Corporate Management
| Daniel Widera | Joint Sec | Profile | |
| Alfonso Ianniello | CEO MD | Profile | |
| Kayi Li | Ma Relations | Profile | |
| Scott French | Exec Radio | Profile | |
| Peter Charlesworth | Executive General Manager - Minelab | Profile | |
| BA CA | CFO Sec | Profile |