KAP INDUS Correlations
| KI8 Stock | EUR 0.1 0.00 0.00% |
The correlation of KAP INDUS 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.
KAP INDUS Correlation With Market
Poor diversification
The correlation between KAP INDUS and DJI is 0.77 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding KAP INDUS and DJI in the same portfolio, assuming nothing else is changed.
KAP |
The ability to find closely correlated positions to KAP INDUS could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace KAP INDUS 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 KAP INDUS - 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 KAP INDUS to buy it.
Moving together with KAP Stock
| 0.66 | 6MK | Merck | PairCorr |
| 0.67 | 4I1 | Philip Morris Intern | PairCorr |
| 0.83 | HBC1 | HSBC HLDG Earnings Call This Week | PairCorr |
| 0.75 | 7YZ | THARISA NON LIST | PairCorr |
| 0.61 | 6IC | Iridium Communications | PairCorr |
| 0.92 | AOMD | Alstom SA | PairCorr |
| 0.77 | H3M | Hochschild Mining plc | PairCorr |
| 0.85 | KGHA | KGHM Polska Miedz | PairCorr |
| 0.64 | WWR | Woolworths Group Earnings Call This Week | PairCorr |
| 0.94 | ALV | Allianz SE Earnings Call This Week | PairCorr |
| 0.64 | ENR | Siemens Energy AG | PairCorr |
| 0.69 | SZL | SOLSTAD OFFSHORE | PairCorr |
| 0.78 | O3I | FLOW TRADERS LTD | PairCorr |
| 0.63 | T4W | Toro Energy | PairCorr |
| 0.71 | S3Q | Roxmore Resources | PairCorr |
Moving against KAP Stock
| 0.81 | MBJ | MBIA Inc Earnings Call This Week | PairCorr |
| 0.7 | BT3 | BIOTIME | PairCorr |
| 0.69 | MBJ | MBIA Earnings Call This Week | PairCorr |
| 0.56 | ABL | Abbott Laboratories | PairCorr |
| 0.49 | IB5A | I CABLE M | PairCorr |
| 0.42 | HK2C | Hong Kong Exchanges Earnings Call This Week | PairCorr |
| 0.87 | AJW | ANGES MG | PairCorr |
| 0.45 | 4AH1 | PT Ace Hardware | PairCorr |
Related Correlations Analysis
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
| High negative correlations
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Risk-Adjusted Indicators
There is a big difference between KAP Stock performing well and KAP INDUS 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 KAP INDUS'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| 4JP | 1.49 | 0.23 | 0.07 | 2.16 | 1.87 | 3.15 | 10.17 | |||
| QBE | 1.33 | 0.16 | 0.04 | (1.82) | 1.57 | 2.65 | 8.41 | |||
| QN0 | 1.82 | 0.34 | 0.11 | (1.53) | 1.90 | 3.64 | 9.68 | |||
| DDN | 1.34 | 0.33 | 0.15 | 4.21 | 1.33 | 3.78 | 9.44 | |||
| LC0A | 2.34 | 0.13 | 0.01 | (0.17) | 2.71 | 6.72 | 20.02 | |||
| NWJ | 0.62 | (0.15) | 0.00 | (1.32) | 0.00 | 1.76 | 8.66 | |||
| S49 | 1.36 | 0.21 | 0.06 | (0.32) | 1.34 | 4.19 | 8.21 | |||
| GOKA | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Be your own money manager
Our tools can tell you how much better you can do entering a position in KAP INDUS 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.Did you try this?
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