Jungheinrich Aktiengesellscha Correlations

JGHAF Stock

USD 33.84 0.00 0.00%

The correlation of Jungheinrich Aktiengesellscha 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.

Jungheinrich Aktiengesellscha Correlation With Market

Good diversification

The correlation between Jungheinrich Aktiengesellschaf and DJI is -0.13 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Jungheinrich Aktiengesellschaf and DJI in the same portfolio, assuming nothing else is changed.

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

Moving against Jungheinrich Pink Sheet

0.84	AVGO	Broadcom	Pair Corr
0.8	GOOG	Alphabet Class C	Pair Corr
0.75	GS	Goldman Sachs Group	Pair Corr
0.72	UEC	Uranium Energy Corp	Pair Corr
0.67	BK	Bank of New York	Pair Corr
0.66	AAPL	Apple Inc	Pair Corr
0.59	PATH	Uipath Inc	Pair Corr
0.33	NVDA	NVIDIA Earnings Call This Week	Pair Corr
0.8	GE	GE Aerospace	Pair Corr
0.7	IBM	International Business	Pair Corr
0.65	INTC	Intel	Pair Corr
0.59	CAT	Caterpillar	Pair Corr
0.58	AA	Alcoa Corp	Pair Corr
0.53	JNJ	Johnson Johnson	Pair Corr
0.5	XOM	Exxon Mobil Corp	Pair Corr
0.39	DD	Dupont De Nemours	Pair Corr
0.35	CSCO	Cisco Systems Sell-off Trend	Pair Corr
0.33	TRV	The Travelers Companies	Pair Corr

Related Correlations Analysis

	SOHVF	FLIDY	YMATF	CYJBY	RTOXF	KRNNF	BRTHY	BCHHF	HSHZY	AALBF
SOHVF		0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	SOHVF
FLIDY	0.0		-0.27	-0.27	0.01	0.0	0.24	-0.67	-0.28	-0.72	FLIDY
YMATF	0.0	-0.27		-0.13	0.14	0.0	0.23	0.19	0.38	0.22	YMATF
CYJBY	0.0	-0.27	-0.13		0.04	0.0	-0.64	0.19	0.11	0.19	CYJBY
RTOXF	0.0	0.01	0.14	0.04		0.0	0.0	-0.36	0.23	-0.03	RTOXF
KRNNF	0.0	0.0	0.0	0.0	0.0		0.0	0.0	0.0	0.0	KRNNF
BRTHY	0.0	0.24	0.23	-0.64	0.0	0.0		-0.2	-0.19	-0.2	BRTHY
BCHHF	0.0	-0.67	0.19	0.19	-0.36	0.0	-0.2		0.4	0.84	BCHHF
HSHZY	0.0	-0.28	0.38	0.11	0.23	0.0	-0.19	0.4		0.4	HSHZY
AALBF	0.0	-0.72	0.22	0.19	-0.03	0.0	-0.2	0.84	0.4		AALBF
	SOHVF	FLIDY	YMATF	CYJBY	RTOXF	KRNNF	BRTHY	BCHHF	HSHZY	AALBF

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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

AALBF	+ 0.84	BCHHF
HSHZY	+ 0.4	BCHHF
AALBF	+ 0.4	HSHZY
HSHZY	+ 0.38	YMATF
BRTHY	+ 0.24	FLIDY
BRTHY	+ 0.23	YMATF

High negative correlations

AALBF	- 0.72	FLIDY
BCHHF	- 0.67	FLIDY
BRTHY	- 0.64	CYJBY
BCHHF	- 0.36	RTOXF
HSHZY	- 0.28	FLIDY
CYJBY	- 0.27	FLIDY

Risk-Adjusted Indicators

There is a big difference between Jungheinrich Pink Sheet performing well and Jungheinrich Aktiengesellscha 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 Jungheinrich Aktiengesellscha'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
SOHVF	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
FLIDY	1.13	0.24	0.00	0.22	0.00	0.00	0.00	0.00	26.46
YMATF	4.47	1.10	0.00	1.49	0.00	0.00	15.35	(12.69)	17.54
CYJBY	0.86	(0.20)	0.00	0.26	0.00	0.00	0.00	0.00	26.97
RTOXF	0.80	(0.03)	0.00	0.20	0.00	0.00	2.38	(2.20)	16.45
KRNNF	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
BRTHY	1.24	0.22	0.04	0.57	1.44	(6.11)	7.12	(4.03)	15.58
BCHHF	0.21	(0.11)	0.00	0.78	0.00	0.00	0.00	0.00	7.14
HSHZY	0.86	(0.18)	0.00	(0.28)	0.00	0.00	0.00	(1.64)	27.39
AALBF	0.78	(0.17)	0.00	(0.35)	0.00	0.00	1.71	(2.71)	10.27

Be your own money manager

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