SANOK RUBBER Correlations

1NX Stock

EUR 5.10 0.02 0.39%

The correlation of SANOK RUBBER 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.

SANOK RUBBER Correlation With Market

Significant diversification

The correlation between SANOK RUBBER ZY and DJI is 0.08 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding SANOK RUBBER ZY and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with SANOK Stock

0.83	MGA	Magna International	Pair Corr
0.78	CON	Continental Aktiengesellscha	Pair Corr
0.77	CON	Continental Aktiengesellscha	Pair Corr
0.71	SSUN	Samsung Electronics	Pair Corr
0.78	SSU	Samsung Electronics	Pair Corr
0.88	KBIA	KB Financial Group	Pair Corr
0.81	2WGA	WOORI FIN GRP	Pair Corr
0.82	HY9H	SK hynix	Pair Corr
0.72	LGLG	LG Electronics	Pair Corr
0.63	CTM	China Mobile Limited	Pair Corr
0.79	HKT	HK Electric Investments	Pair Corr
0.81	26Y	YATRA ONLINE DL	Pair Corr
0.86	Z1L	Lery Seafood Group	Pair Corr
0.75	27J	Impinj Inc	Pair Corr
0.65	KGHA	KGHM Polska Miedz	Pair Corr
0.76	SH7	HELIOS TECHS INC	Pair Corr
0.89	MSF	Microsoft	Pair Corr
0.78	E908	Lyxor 1	Pair Corr
0.77	DBPE	Xtrackers LevDAX	Pair Corr

Moving against SANOK Stock

0.82	BRH	Berkshire Hathaway	Pair Corr
0.82	BRYN	Berkshire Hathaway	Pair Corr
0.82	BRYN	Berkshire Hathaway	Pair Corr
0.45	LKQ1	LKQ Corporation	Pair Corr
0.74	DBPD	Xtrackers ShortDAX	Pair Corr

Related Correlations Analysis

	4JF	0QM	7IG	9E7	H3M	G5E	RHRD	1C6
4JF		0.49	-0.25	0.0	-0.43	-0.43	0.0	0.81	4JF
0QM	0.49		-0.05	0.0	-0.18	0.01	0.0	0.42	0QM
7IG	-0.25	-0.05		0.0	0.17	0.36	0.0	-0.04	7IG
9E7	0.0	0.0	0.0		0.0	0.0	1.0	0.0	9E7
H3M	-0.43	-0.18	0.17	0.0		0.44	0.0	-0.14	H3M
G5E	-0.43	0.01	0.36	0.0	0.44		0.0	-0.19	G5E
RHRD	0.0	0.0	0.0	1.0	0.0	0.0		0.0	RHRD
1C6	0.81	0.42	-0.04	0.0	-0.14	-0.19	0.0		1C6
	4JF	0QM	7IG	9E7	H3M	G5E	RHRD	1C6

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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

RHRD	+ 1.0	9E7
1C6	+ 0.81	4JF
0QM	+ 0.49	4JF
G5E	+ 0.44	H3M
1C6	+ 0.42	0QM
G5E	+ 0.36	7IG

High negative correlations

G5E	- 0.43	4JF
H3M	- 0.43	4JF
7IG	- 0.25	4JF
1C6	- 0.19	G5E
H3M	- 0.18	0QM
1C6	- 0.14	H3M

Risk-Adjusted Indicators

There is a big difference between SANOK Stock performing well and SANOK RUBBER 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 SANOK RUBBER'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
4JF	2.21	0.72	0.18	1.78	2.13	(3.04)	5.13	(4.40)	13.72
0QM	0.99	0.18	0.00	(1.49)	0.00	0.00	3.23	0.00	39.55
7IG	1.82	0.37	0.00	(0.47)	2.70	(2.07)	3.40	(4.07)	13.67
9E7	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
H3M	3.00	0.16	0.00	0.64	5.23	(2.95)	6.04	(6.98)	30.45
G5E	1.24	(0.05)	0.00	(0.63)	0.00	0.00	2.94	(2.86)	8.66
RHRD	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
1C6	2.24	0.28	0.07	0.61	2.52	(2.70)	4.62	(3.90)	17.94

Be your own money manager

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