Faes Farma Correlations

FAE Stock

EUR 5.21 0.11 2.16%

The current 90-days correlation between Faes Farma SA and Pharma Mar SA is 0.45 (i.e., Very weak diversification). The correlation of Faes Farma 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.

Faes Farma Correlation With Market

Average diversification

The correlation between Faes Farma SA and DJI is 0.19 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Faes Farma SA and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Faes Stock

0.62	ITX	Industria de Diseno	Pair Corr
0.69	YMHRE	Millenium Hotels Real	Pair Corr
0.65	NXT	Nueva Expresin Textil	Pair Corr
0.79	IZER	Izertis Sa	Pair Corr
0.91	UNI	Unicaja Banco SA	Pair Corr
0.73	FER	Ferrovial SA	Pair Corr
0.7	YEIS	Elaia Investment Spain	Pair Corr
0.81	ALM	Almirall SA	Pair Corr
0.7	AEDAS	Aedas Homes SL	Pair Corr
0.62	YTRM	Torimbia Socimi SA	Pair Corr
0.88	ACS	ACS Actividades de	Pair Corr
0.73	CLR	CLERHP Estructuras	Pair Corr
0.71	DIA	Distribuidora Internacional	Pair Corr

Moving against Faes Stock

0.63	BKY	Berkeley Energia	Pair Corr
0.57	YQUO	Quonia SOCIMI SA	Pair Corr
0.57	END	Endurance Motive	Pair Corr
0.38	ORY	Oryzon Genomics SA	Pair Corr
0.32	480S	Soluciones Cuatroochenta	Pair Corr

Related Correlations Analysis

	PHM	CBAV	RJF	ALM	PRM	ATRY	ORY	ROVI	BST	PANG
PHM		-0.35	0.58	-0.51	-0.24	0.06	0.22	-0.14	0.58	0.5	PHM
CBAV	-0.35		-0.61	0.82	0.26	-0.49	-0.24	0.48	-0.67	-0.17	CBAV
RJF	0.58	-0.61		-0.61	0.14	0.67	0.57	0.01	0.81	0.1	RJF
ALM	-0.51	0.82	-0.61		0.24	-0.45	-0.21	0.51	-0.74	-0.24	ALM
PRM	-0.24	0.26	0.14	0.24		0.16	0.23	0.27	-0.09	-0.3	PRM
ATRY	0.06	-0.49	0.67	-0.45	0.16		0.64	0.17	0.63	-0.27	ATRY
ORY	0.22	-0.24	0.57	-0.21	0.23	0.64		-0.03	0.54	-0.29	ORY
ROVI	-0.14	0.48	0.01	0.51	0.27	0.17	-0.03		-0.17	-0.06	ROVI
BST	0.58	-0.67	0.81	-0.74	-0.09	0.63	0.54	-0.17		0.14	BST
PANG	0.5	-0.17	0.1	-0.24	-0.3	-0.27	-0.29	-0.06	0.14		PANG
	PHM	CBAV	RJF	ALM	PRM	ATRY	ORY	ROVI	BST	PANG

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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

ALM	+ 0.82	CBAV
BST	+ 0.81	RJF
ATRY	+ 0.67	RJF
ORY	+ 0.64	ATRY
BST	+ 0.63	ATRY
RJF	+ 0.58	PHM

High negative correlations

BST	- 0.74	ALM
BST	- 0.67	CBAV
ALM	- 0.61	RJF
RJF	- 0.61	CBAV
ALM	- 0.51	PHM
ATRY	- 0.49	CBAV

Risk-Adjusted Indicators

There is a big difference between Faes Stock performing well and Faes Farma 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 Faes Farma'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
PHM	1.45	(0.22)	0.00	(1.32)	0.00	0.00	3.04	(3.32)	9.15
CBAV	1.18	0.16	0.08	0.37	1.26	(1.65)	3.99	(1.95)	8.73
RJF	1.05	(0.12)	0.00	0.95	0.00	0.00	1.82	(2.09)	10.51
ALM	0.85	0.19	0.07	68.65	1.23	(0.90)	2.15	(2.03)	7.32
PRM	0.89	(0.03)	0.00	0.25	0.00	0.00	2.18	(2.13)	7.25
ATRY	1.76	0.02	(0.02)	0.15	1.76	(2.29)	3.72	(3.19)	17.27
ORY	2.34	0.05	0.02	0.11	3.08	(2.64)	5.39	(3.94)	20.72
ROVI	1.19	0.14	0.06	0.49	1.43	(1.36)	2.84	(2.62)	10.90
BST	1.85	(0.66)	0.00	(15.36)	0.00	0.00	3.33	(4.00)	12.70
PANG	0.34	(0.05)	0.00	(0.46)	0.00	0.00	0.00	(1.18)	9.36

Be your own money manager

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