AB Volvo Correlations

Delisted . USA . 
Stock . AB Volvo
VOLAFDelisted Stock  USD 28.00  0.00  0.00%   
The current 90-days correlation between AB Volvo and Volvo AB ADR is 0.04 (i.e., Significant diversification). The correlation of AB Volvo 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.

AB Volvo Correlation With Market

Modest diversification

The correlation between AB Volvo and DJI is 0.22 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding AB Volvo and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to AB Volvo could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace AB Volvo 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 AB Volvo - 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 AB Volvo to buy it.

Moving together with VOLAF Pink Sheet

  0.64DTGHF Daimler Truck HoldingPairCorr
  0.88ENVX Enovix CorpPairCorr

Moving against VOLAF Pink Sheet

  0.67NDEKY Nitto Denko CorpPairCorr
  0.66FMCB Farmers Merchants BancorpPairCorr
  0.55EPOKY Epiroc ABPairCorr
  0.49FUWAF Furukawa ElectricPairCorr
  0.41VLVLY Volvo AB ADRPairCorr
  0.32DAIUF DaifukuPairCorr
  0.67HLMN Hillman Solutions CorpPairCorr
  0.63929160AV1 VULCAN MATLS 45PairCorr
  0.59DRRX DurectPairCorr
  0.56LITE Lumentum HoldingsPairCorr
  0.53FARM Farmer BrosPairCorr
  0.53AUXXF Allegiant GoldPairCorr
  0.52DAC DanaosPairCorr
  0.47MP MP Materials CorpPairCorr
  0.44FFIC Flushing FinancialPairCorr
  0.33DECK Deckers Outdoor Sell-off TrendPairCorr
  0.71FTAI Fortress Transp InfraPairCorr
  0.68693304AY3 US693304AY39PairCorr
  0.62ASR Grupo Aeroportuario delPairCorr
  0.57HGTY HagertyPairCorr
  0.54FELE Franklin ElectricPairCorr
  0.54PTA Cohen Steers TaxPairCorr

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

VOLVF
+ 0.86
VLVLY
HTHIF
+ 0.71
DE
DPSTF
+ 0.52
VOLVF
VCISF
+ 0.47
DPSTF
DPSTF
+ 0.46
VLVLY
DPSTF
+ 0.36
DE
  

High negative correlations

DE
- 0.28
VLVLY
VOLVF
- 0.1
DE
HTHIF
- 0.08
VLVLY
VCISF
- 0.03
VLVLY

Risk-Adjusted Indicators

There is a big difference between VOLAF Pink Sheet performing well and AB Volvo 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 AB Volvo'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.

AB Volvo 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 AB Volvo pink sheet to make a market-neutral strategy. Peer analysis of AB Volvo could also be used in its relative valuation, which is a method of valuing AB Volvo by comparing valuation metrics with similar companies.
 Risk & Return  Correlation

AB Volvo Corporate Executives

Elected by the shareholders, the AB Volvo's board of directors comprises two types of representatives: AB Volvo inside directors who are chosen from within the company, and outside directors, selected externally and held independent of VOLAF. The board's role is to monitor AB Volvo's management team and ensure that shareholders' interests are well served. AB Volvo's inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, AB Volvo's outside directors are responsible for providing unbiased perspectives on the board's policies.
Jan GuranderCFO and Executive VP of Corporate Fin., It and Financial ServicesProfile

Still Interested in AB Volvo?

Investing in delisted pink sheets can be risky, as the pink sheet is no longer traded on a public exchange and can therefore be difficult to sell. Delisting typically occurs when a company has failed to meet exchange requirements or has been acquired. Before investing, it's important to thoroughly research the company, including its financial health and prospects for the future, as well as the reasons for its delisting. Additionally, it may be difficult to find accurate and up-to-date information on the company and its stock.
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