Konecranes Plc Correlations
| KNCRF Stock | USD 93.50 0.00 0.00% |
The correlation of Konecranes Plc 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.
Konecranes Plc Correlation With Market
Good diversification
The correlation between Konecranes Plc and DJI is -0.15 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Konecranes Plc and DJI in the same portfolio, assuming nothing else is changed.
Konecranes |
The ability to find closely correlated positions to Konecranes Plc could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Konecranes Plc 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 Konecranes Plc - 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 Konecranes Plc to buy it.
Moving together with Konecranes Pink Sheet
| 0.64 | CAT | Caterpillar | PairCorr |
| 0.68 | DE | Deere Company | PairCorr |
| 0.72 | PCAR | PACCAR Inc | PairCorr |
| 0.63 | VOLVF | Volvo AB ser | PairCorr |
| 0.68 | DTRUY | Daimler Truck Holding | PairCorr |
| 0.64 | EPOKY | Epiroc AB | PairCorr |
| 0.78 | PTAIY | Astra International Tbk | PairCorr |
| 0.83 | TLK | Telkom Indonesia Tbk | PairCorr |
| 0.64 | PPERF | Bank Mandiri Persero | PairCorr |
| 0.84 | PPERY | Bank Mandiri Persero | PairCorr |
| 0.77 | ZCUSX | Corn Futures | PairCorr |
| 0.68 | ARR | ARMOUR Residential REIT | PairCorr |
| 0.67 | UNIT | Uniti Group | PairCorr |
| 0.63 | MMM | 3M Company | PairCorr |
Moving against Konecranes Pink Sheet
| 0.71 | PTAIF | PT Astra International | PairCorr |
| 0.7 | KMTUF | Komatsu | PairCorr |
| 0.61 | WSNAF | Wesana Health Holdings | PairCorr |
| 0.59 | GDC | GD Culture Group | PairCorr |
| 0.31 | RYSKF | Reysas Tasimacilik | PairCorr |
| 0.31 | 571748BS0 | MMC 625 01 | PairCorr |
| 0.55 | 126650BJ8 | CVS HEALTH P | 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 Konecranes Pink Sheet performing well and Konecranes Plc 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 Konecranes Plc'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| HTCMY | 0.90 | (0.09) | 0.00 | (0.06) | 0.00 | 4.17 | 13.07 | |||
| EBCOF | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
| VLMTY | 0.06 | 0.02 | 0.00 | 0.78 | 0.00 | 0.00 | 2.10 | |||
| SHKLY | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
| ZLIOY | 1.57 | 0.15 | 0.01 | (0.91) | 2.96 | 5.47 | 44.53 | |||
| HYUHF | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
| ASHTY | 1.48 | (0.03) | (0.02) | 0.05 | 1.54 | 3.10 | 7.42 | |||
| ADRZY | 0.98 | 0.07 | 0.00 | (0.31) | 1.70 | 3.50 | 12.99 | |||
| SHMUY | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
| XJNGF | 2.48 | 0.38 | 0.04 | 0.91 | 3.10 | 10.00 | 31.80 |
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Konecranes Plc Corporate Management
| Niina MSc | VP Communications | Profile | |
| Anders Svensson | Pres CEO | Profile | |
| Anneli Karkovirta | Sr Board | Profile | |
| Kiira Froberg | VP Relations | Profile | |
| Teo MSc | Chief Officer | Profile |