Chegg Correlations

Stocks . Germany . 
Stock . Chegg Inc
0CG Stock  EUR 1.09  0.05  4.81%   
The current 90-days correlation between Chegg Inc and Dave Busters Entertainment is 0.07 (i.e., Significant diversification). The correlation of Chegg 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.
  
The ability to find closely correlated positions to Chegg could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Chegg 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 Chegg - 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 Chegg Inc to buy it.

Moving together with Chegg Stock

  0.8ZX3 CHINA EAST EDPairCorr
  0.76AVT AviChina IndustryPairCorr
  0.66HE1 Hope Education GroupPairCorr
  0.76RYC Royal BankPairCorr
  0.84HAG0 HENSOLDT AG UNSPPairCorr
  0.897KY Robinhood MarketsPairCorr
  0.75CEZ CEZ a sPairCorr
  0.79CC6 Comtech TelecommunicatioPairCorr
  0.68DBPE Xtrackers LevDAXPairCorr
  0.74E908 Lyxor 1PairCorr

Moving against Chegg Stock

  0.7403F IDP EDUCATION LTDPairCorr
  0.66DBPD Xtrackers ShortDAXPairCorr

Related Correlations Analysis

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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   
9TG
+ 0.81
GQV
9TG
+ 0.8
9DB
GQV
+ 0.79
9DB
9TG
+ 0.76
3LN
9TG
+ 0.7
SJY
SJY
+ 0.66
3LN
  
High negative correlations   
GQV
- 0.04
A2P

Risk-Adjusted Indicators

There is a big difference between Chegg Stock performing well and Chegg 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 Chegg'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.

Be your own money manager

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