Labiana Health Correlations

LAB Stock

4.86 0.06 1.25%

The current 90-days correlation between Labiana Health SA and Airbus Group SE is 0.03 (i.e., Significant diversification). The correlation of Labiana Health 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.

Labiana Health Correlation With Market

Good diversification

The correlation between Labiana Health SA and DJI is -0.03 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Labiana Health SA and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Labiana Stock

0.64	XVALO	Vale SA	Pair Corr
0.77	IBE	Iberdrola SA	Pair Corr
0.7	BBVA	Banco Bilbao Vizcaya	Pair Corr
0.75	CABK	Caixabank SA	Pair Corr
0.77	AEDAS	Aedas Homes SL	Pair Corr
0.7	ACS	ACS Actividades de	Pair Corr
0.61	NXT	Nueva Expresin Textil	Pair Corr
0.76	YVIT	Vitruvio Real Estate	Pair Corr

Moving against Labiana Stock

0.73

CLNX

Cellnex Telecom SA

Pair Corr

Related Correlations Analysis

	AIR	ITX	XVALO	IBE	XPBRA	SAN	BBVA	CABK	CLNX
AIR		0.92	0.88	0.77	0.12	0.66	0.68	0.69	-0.61	AIR
ITX	0.92		0.83	0.73	0.17	0.66	0.7	0.71	-0.54	ITX
XVALO	0.88	0.83		0.93	0.43	0.81	0.9	0.84	-0.85	XVALO
IBE	0.77	0.73	0.93		0.43	0.73	0.89	0.84	-0.86	IBE
XPBRA	0.12	0.17	0.43	0.43		0.72	0.66	0.6	-0.69	XPBRA
SAN	0.66	0.66	0.81	0.73	0.72		0.87	0.92	-0.82	SAN
BBVA	0.68	0.7	0.9	0.89	0.66	0.87		0.88	-0.88	BBVA
CABK	0.69	0.71	0.84	0.84	0.6	0.92	0.88		-0.82	CABK
CLNX	-0.61	-0.54	-0.85	-0.86	-0.69	-0.82	-0.88	-0.82		CLNX
	AIR	ITX	XVALO	IBE	XPBRA	SAN	BBVA	CABK	CLNX

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

IBE	+ 0.93	XVALO
ITX	+ 0.92	AIR
CABK	+ 0.92	SAN
BBVA	+ 0.9	XVALO
BBVA	+ 0.89	IBE
XVALO	+ 0.88	AIR

High negative correlations

CLNX	- 0.88	BBVA
CLNX	- 0.86	IBE
CLNX	- 0.85	XVALO
CLNX	- 0.82	CABK
CLNX	- 0.82	SAN
CLNX	- 0.69	XPBRA

Risk-Adjusted Indicators

There is a big difference between Labiana Stock performing well and Labiana Health 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 Labiana Health'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
AIR	0.89	0.19	0.11	1.23	0.88	(0.96)	2.26	(1.89)	5.02
ITX	1.15	0.22	0.13	1.96	1.11	(1.31)	2.67	(1.99)	9.96
XVALO	0.97	0.23	0.14	0.47	1.10	(1.07)	2.18	(1.96)	5.80
IBE	0.53	0.16	0.23	0.76	0.15	(0.68)	1.21	(0.76)	4.27
XPBRA	0.90	0.06	0.00	(1.55)	1.08	(1.08)	2.00	(1.99)	6.38
SAN	1.25	0.17	0.09	0.36	1.40	(1.36)	2.38	(2.35)	7.98
BBVA	1.34	0.27	0.16	0.66	1.24	(1.53)	2.50	(2.57)	8.82
CABK	1.05	0.16	0.10	0.29	1.21	(1.14)	1.82	(2.39)	5.60
CLNX	1.10	(0.26)	0.00	(0.80)	0.00	0.00	1.71	(2.69)	5.89

Labiana Health Related Equities

One of the popular trading techniques among algorithmic traders is to use market-neutral strategies where every trade hedges away some risk. Because there are two separate transactions required, even if one position performs unexpectedly, the other equity can make up some of the losses. Below are some of the equities that can be combined with Labiana Health stock to make a market-neutral strategy. Peer analysis of Labiana Health could also be used in its relative valuation, which is a method of valuing Labiana Health by comparing valuation metrics with similar companies.

Airbus Group SE Industria de Diseno Vale SA Iberdrola SA Petroleo Brasileiro SA Banco Santander SA Banco Bilbao Vizcaya Caixabank SA Cellnex Telecom SA American Airlines Group Alcoa Corp Apple Inc Best Buy Co Citigroup SentinelOne

Risk & Return

Correlation

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