HOSTELWORLD GROUP Correlations

HSW Stock

EUR 1.43 0.02 1.42%

The current 90-days correlation between HOSTELWORLD GROUP and COMMERCIAL VEHICLE is -0.06 (i.e., Good diversification). The correlation of HOSTELWORLD GROUP 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.

HOSTELWORLD GROUP Correlation With Market

Good diversification

The correlation between HOSTELWORLD GROUP EO 01 and DJI is -0.06 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding HOSTELWORLD GROUP EO 01 and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to HOSTELWORLD GROUP could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace HOSTELWORLD GROUP 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 HOSTELWORLD GROUP - 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 HOSTELWORLD GROUP EO 01 to buy it.

Moving together with HOSTELWORLD Stock

0.71	HOU	CenterPoint Energy	Pair Corr
0.81	VX1	Vertex Pharmaceuticals	Pair Corr
0.68	MBG	Mercedes Benz Group	Pair Corr
0.84	MOH	LVMH Mot Hennessy	Pair Corr
0.65	3MJ	Major Drilling Group Earnings Call This Week	Pair Corr
0.63	CPF	CITIC Limited	Pair Corr
0.72	PO6	Penta Ocean Construc	Pair Corr
0.69	LLY	Eli Lilly	Pair Corr

Moving against HOSTELWORLD Stock

0.83	NVE	NVR Inc	Pair Corr
0.73	MY1	MakeMyTrip Limited	Pair Corr
0.69	T6A	TripAdvisor	Pair Corr
0.68	9BP	ON THE BEACH	Pair Corr
0.62	LI4	Lindblad Expeditions	Pair Corr
0.52	2T9A	TRAINLINE PLC LS	Pair Corr
0.5	WWG	Gelsenwasser AG	Pair Corr
0.48	TUI1	TUI AG Earnings Call This Week	Pair Corr
0.42	CLVB	TRIPCOM GROUP DL	Pair Corr
0.42	1Q6	Prosafe SE	Pair Corr
0.32	BEW	DIVERSIFIED ROYALTY	Pair Corr

Related Correlations Analysis

	FDU	SC3	GRU	UP2	GRU	AFW	81M	9D2
FDU		0.52	0.12	0.18	0.16	-0.13	0.08	-0.29	FDU
SC3	0.52		0.52	-0.11	0.55	-0.43	0.16	-0.22	SC3
GRU	0.12	0.52		-0.52	0.96	-0.61	-0.08	0.12	GRU
UP2	0.18	-0.11	-0.52		-0.52	0.38	-0.11	-0.11	UP2
GRU	0.16	0.55	0.96	-0.52		-0.6	-0.09	0.09	GRU
AFW	-0.13	-0.43	-0.61	0.38	-0.6		0.07	0.42	AFW
81M	0.08	0.16	-0.08	-0.11	-0.09	0.07		0.35	81M
9D2	-0.29	-0.22	0.12	-0.11	0.09	0.42	0.35		9D2
	FDU	SC3	GRU	UP2	GRU	AFW	81M	9D2

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

GRU	+ 0.96	GRU
GRU	+ 0.55	SC3
SC3	+ 0.52	FDU
GRU	+ 0.52	SC3
9D2	+ 0.42	AFW
AFW	+ 0.38	UP2

High negative correlations

AFW	- 0.61	GRU
AFW	- 0.6	GRU
GRU	- 0.52	UP2
UP2	- 0.52	GRU
AFW	- 0.43	SC3
9D2	- 0.29	FDU

Risk-Adjusted Indicators

There is a big difference between HOSTELWORLD Stock performing well and HOSTELWORLD GROUP 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 HOSTELWORLD GROUP'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
FDU	2.23	0.01	(0.01)	0.13	2.80	(2.87)	5.69	(4.76)	16.25
SC3	1.35	(0.17)	0.00	(0.15)	0.00	0.00	2.89	(2.79)	10.09
GRU	1.49	(0.12)	0.00	(0.25)	0.00	0.00	3.40	(3.52)	9.62
UP2	2.79	0.43	0.10	(0.51)	2.81	(3.16)	7.12	(4.65)	16.49
GRU	1.55	(0.07)	0.00	1.29	0.00	0.00	2.94	(2.50)	10.48
AFW	1.51	0.27	0.11	(2.40)	1.55	(1.76)	3.32	(2.83)	8.60
81M	1.91	(0.02)	(0.01)	0.05	2.07	(2.47)	3.70	(3.42)	10.02
9D2	2.71	0.26	0.09	0.18	3.41	(2.99)	6.75	(5.67)	22.12

Be your own money manager

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