Helios Underwriting Correlations

HUW Stock

206.00 2.00 0.96%

The current 90-days correlation between Helios Underwriting PLC and BlackRock Frontiers Investment is -0.03 (i.e., Good diversification). The correlation of Helios Underwriting 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.

Helios Underwriting Correlation With Market

Significant diversification

The correlation between Helios Underwriting PLC and DJI is 0.05 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Helios Underwriting PLC and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Helios Stock

0.73	SYN	Synergia Energy	Pair Corr
0.68	BBB	Bigblu Broadband PLC	Pair Corr

Moving against Helios Stock

0.9	0LEE	Teradata Corp	Pair Corr
0.87	IBT	International Biotechnology	Pair Corr
0.86	SSE	SSE PLC	Pair Corr
0.82	NBPU	NB Private Equity	Pair Corr
0.8	NBPE	NB Private Equity	Pair Corr
0.78	0HTG	Cardinal Health	Pair Corr
0.77	NWG	NatWest Group PLC	Pair Corr
0.72	ROAD	Roadside Real Estate	Pair Corr
0.7	0HF7	Ametek Inc	Pair Corr
0.68	DEC	Diversified Energy	Pair Corr
0.66	PRU	Prudential plc	Pair Corr
0.59	0JW2	MT Bank Corp	Pair Corr
0.57	CMX	Catalyst Media Group	Pair Corr
0.55	0G9J	Tamburi Investment	Pair Corr
0.5	RM	RM Plc	Pair Corr
0.48	MAFL	Mineral Financial	Pair Corr
0.45	SLP	Sylvania Platinum	Pair Corr
0.37	STJ	St Jamess Place	Pair Corr
0.34	SUPR	Supermarket Income REIT	Pair Corr

Related Correlations Analysis

	0R2T	0RMV	0K19	BRFI	PCT	APTD	MAJE
0R2T		0.76	0.26	0.91	0.63	-0.19	0.74	0R2T
0RMV	0.76		-0.11	0.82	0.65	-0.49	0.67	0RMV
0K19	0.26	-0.11		0.26	0.17	0.59	0.43	0K19
BRFI	0.91	0.82	0.26		0.57	-0.28	0.85	BRFI
PCT	0.63	0.65	0.17	0.57		-0.16	0.36	PCT
APTD	-0.19	-0.49	0.59	-0.28	-0.16		-0.15	APTD
MAJE	0.74	0.67	0.43	0.85	0.36	-0.15		MAJE
	0R2T	0RMV	0K19	BRFI	PCT	APTD	MAJE

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

BRFI	+ 0.91	0R2T
MAJE	+ 0.85	BRFI
BRFI	+ 0.82	0RMV
0RMV	+ 0.76	0R2T
MAJE	+ 0.74	0R2T
MAJE	+ 0.67	0RMV

High negative correlations

APTD	- 0.49	0RMV
APTD	- 0.28	BRFI
APTD	- 0.19	0R2T
APTD	- 0.16	PCT
MAJE	- 0.15	APTD
0K19	- 0.11	0RMV

Risk-Adjusted Indicators

There is a big difference between Helios Stock performing well and Helios Underwriting 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 Helios Underwriting'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
0R2T	3.43	0.87	0.26	0.49	3.18	(4.10)	7.73	(5.13)	20.40
0RMV	1.53	0.40	0.19	1.64	1.44	(1.84)	3.85	(2.45)	12.32
0K19	2.26	0.06	0.04	0.09	2.65	(2.45)	4.43	(4.43)	14.11
BRFI	0.57	0.17	0.14	(2.40)	0.45	(0.72)	1.19	(0.88)	3.83
PCT	1.22	0.05	0.02	0.14	1.52	(1.37)	2.56	(2.23)	9.68
APTD	1.42	(0.05)	0.00	(0.04)	0.00	0.00	3.13	(2.73)	7.66
MAJE	1.24	0.11	0.03	0.42	1.42	(1.45)	2.84	(2.42)	6.92

Be your own money manager

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