ESSILORLUXOTTICA Correlations

ESLC Stock

EUR 134.00 1.00 0.74%

The current 90-days correlation between ESSILORLUXOTTICA 12ON and Sunny Optical Technology is 0.19 (i.e., Average diversification). The correlation of ESSILORLUXOTTICA 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.

ESSILORLUXOTTICA Correlation With Market

Good diversification

The correlation between ESSILORLUXOTTICA 12ON and DJI is -0.01 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding ESSILORLUXOTTICA 12ON and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to ESSILORLUXOTTICA could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace ESSILORLUXOTTICA 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 ESSILORLUXOTTICA - 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 ESSILORLUXOTTICA 12ON to buy it.

Moving together with ESSILORLUXOTTICA Stock

0.94	ESL	EssilorLuxottica Socit	Pair Corr
0.81	BOX	Becton Dickinson	Pair Corr
0.74	HYB	HOYA	Pair Corr
0.75	RMEA	Resmed Inc DRC	Pair Corr
0.77	RME	ResMed Inc	Pair Corr
0.77	EDJ	CALTAGIRONE EDITORE	Pair Corr

Moving against ESSILORLUXOTTICA Stock

0.66	56S1	Sartorius Stedim Biotech	Pair Corr
0.61	GLE	Gladstone Commercial	Pair Corr
0.6	99Q	ENTREPARTICULIERS EO	Pair Corr
0.57	SRT4	SARTORIUS AG UNSPADR	Pair Corr
0.54	IUI1	Intuitive Surgical	Pair Corr
0.54	SRT3	Sartorius Aktiengesellscha	Pair Corr
0.43	DBPD	Xtrackers ShortDAX	Pair Corr
0.42	E908	Lyxor 1	Pair Corr
0.41	PP1	Papa Johns International	Pair Corr
0.38	MLB1	MercadoLibre	Pair Corr

Related Correlations Analysis

	SXC	EU6	MCP	BUI	SIT4	LGA	XFB	CTO
SXC		-0.77	0.31	0.79	0.66	0.75	0.84	-0.77	SXC
EU6	-0.77		-0.21	-0.78	-0.45	-0.57	-0.76	0.63	EU6
MCP	0.31	-0.21		-0.04	0.04	-0.05	0.42	-0.65	MCP
BUI	0.79	-0.78	-0.04		0.69	0.7	0.6	-0.53	BUI
SIT4	0.66	-0.45	0.04	0.69		0.46	0.39	-0.42	SIT4
LGA	0.75	-0.57	-0.05	0.7	0.46		0.75	-0.42	LGA
XFB	0.84	-0.76	0.42	0.6	0.39	0.75		-0.74	XFB
CTO	-0.77	0.63	-0.65	-0.53	-0.42	-0.42	-0.74		CTO
	SXC	EU6	MCP	BUI	SIT4	LGA	XFB	CTO

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

XFB	+ 0.84	SXC
BUI	+ 0.79	SXC
LGA	+ 0.75	SXC
XFB	+ 0.75	LGA
LGA	+ 0.7	BUI
SIT4	+ 0.69	BUI

High negative correlations

BUI	- 0.78	EU6
CTO	- 0.77	SXC
EU6	- 0.77	SXC
XFB	- 0.76	EU6
CTO	- 0.74	XFB
CTO	- 0.65	MCP

Risk-Adjusted Indicators

There is a big difference between ESSILORLUXOTTICA Stock performing well and ESSILORLUXOTTICA 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 ESSILORLUXOTTICA'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
SXC	2.34	0.48	0.12	(0.81)	2.13	(2.81)	5.46	(4.59)	13.87
EU6	3.55	(0.60)	0.00	(9.98)	0.00	0.00	8.25	(7.62)	21.41
MCP	1.89	0.20	0.06	0.57	2.30	(1.95)	5.55	(3.52)	12.63
BUI	1.47	0.20	0.04	1.85	1.75	(1.84)	2.97	(2.54)	8.34
SIT4	1.42	0.15	0.00	(0.29)	1.58	(1.63)	3.14	(2.60)	7.89
LGA	2.14	0.59	0.15	(2.09)	2.66	(2.47)	3.47	(2.99)	31.90
XFB	2.03	0.42	0.19	0.64	1.85	(2.48)	4.56	(3.26)	11.74
CTO	0.85	(0.10)	0.00	0.34	0.00	0.00	1.36	(2.24)	6.27

Be your own money manager

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