ELECTRIC POWER Correlations
| FJG Stock | EUR 15.30 0.30 2.00% |
The current 90-days correlation between ELECTRIC POWER DEVL and Amazon Inc is -0.01 (i.e., Good diversification). The correlation of ELECTRIC POWER 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. If the correlation is 0, the equities are not correlated; they are entirely random.
ELECTRIC POWER Correlation With Market
Significant diversification
The correlation between ELECTRIC POWER DEVL and DJI is 0.04 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding ELECTRIC POWER DEVL and DJI in the same portfolio, assuming nothing else is changed.
ELECTRIC |
The ability to find closely correlated positions to ELECTRIC POWER could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace ELECTRIC POWER 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 ELECTRIC POWER - 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 ELECTRIC POWER DEVL to buy it.
Moving together with ELECTRIC Stock
| 0.74 | TKA | thyssenkrupp AG | PairCorr |
| 0.68 | VVDH | VEOLIA ENV SP | PairCorr |
| 0.72 | KDIC | Kingdee International | PairCorr |
| 0.83 | LLD2 | Lloyds Banking Group | PairCorr |
| 0.68 | ITB | Imperial Brands PLC | PairCorr |
| 0.68 | CVS | CVS Health Corp | PairCorr |
| 0.76 | FCC | Fomento de Construcciones | PairCorr |
| 0.68 | RHM | Rheinmetall AG | PairCorr |
| 0.82 | BZI | Santander Bank Polska | PairCorr |
| 0.84 | 6I4 | ZAPTEC ASA NK | PairCorr |
| 0.64 | AWC | American Water Works | PairCorr |
| 0.88 | XCA | CREDIT AGRICOLE | PairCorr |
Moving against ELECTRIC Stock
| 0.64 | PQ9 | PT Bank Mandiri | PairCorr |
| 0.6 | MSF | Microsoft | PairCorr |
| 0.59 | MSF | Microsoft | PairCorr |
| 0.59 | MSF | Microsoft | PairCorr |
| 0.59 | BYRA | BANK RAKYAT IND | PairCorr |
| 0.58 | MSF | Microsoft | PairCorr |
| 0.56 | MSF | Microsoft | PairCorr |
| 0.47 | BYRA | PT Bank Rakyat | PairCorr |
| 0.44 | BYRA | PT Bank Rakyat | PairCorr |
| 0.43 | BYRA | BANK RAKYAT IND | PairCorr |
| 0.42 | AMZ | Amazon Inc | PairCorr |
| 0.83 | PQ9 | BANK MANDIRI | PairCorr |
| 0.43 | 432 | ARBOR METALS P | PairCorr |
Related Correlations Analysis
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Risk-Adjusted Indicators
There is a big difference between ELECTRIC Stock performing well and ELECTRIC POWER 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 ELECTRIC POWER'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| APC | 1.98 | (0.28) | 0.00 | (0.28) | 0.00 | 2.99 | 22.77 | |||
| APC | 1.89 | (0.31) | 0.00 | (0.35) | 0.00 | 3.49 | 15.31 | |||
| APC | 2.01 | (0.25) | 0.00 | (0.24) | 0.00 | 2.73 | 21.70 | |||
| MSF | 1.38 | (0.16) | 0.00 | (0.24) | 0.00 | 3.23 | 14.51 | |||
| MSF | 1.47 | (0.17) | 0.00 | (0.26) | 0.00 | 3.29 | 14.61 | |||
| MSF | 1.48 | (0.19) | 0.00 | (0.28) | 0.00 | 3.16 | 16.01 | |||
| MSF | 1.55 | (0.18) | 0.00 | (0.30) | 0.00 | 3.06 | 13.51 | |||
| MSF | 1.39 | (0.22) | 0.00 | (0.40) | 0.00 | 2.84 | 10.50 | |||
| AMZ | 1.90 | (0.27) | 0.00 | (0.29) | 0.00 | 2.90 | 19.93 |
Be your own money manager
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