BARRATT DEVEL Correlations

3BAA Stock

EUR 7.95 0.05 0.63%

The current 90-days correlation between BARRATT DEVEL UNSPADR2 and NVR Inc is 0.07 (i.e., Significant diversification). The correlation of BARRATT DEVEL 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.

BARRATT DEVEL Correlation With Market

Significant diversification

The correlation between BARRATT DEVEL UNSPADR2 and DJI is 0.01 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding BARRATT DEVEL UNSPADR2 and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to BARRATT DEVEL could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace BARRATT DEVEL 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 BARRATT DEVEL - 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 BARRATT DEVEL UNSPADR2 to buy it.

Moving together with BARRATT Stock

0.92

3BA

Barratt Developments plc

Pair Corr

Moving against BARRATT Stock

0.76	JOT	ELEKTROBIT	Pair Corr
0.69	S0V	Seaboard	Pair Corr
0.56	TLK	Toll Brothers	Pair Corr
0.54	HO2	DR Horton Earnings Call This Week	Pair Corr
0.52	WWG	Gelsenwasser AG	Pair Corr
0.51	PU7	PulteGroup Earnings Call This Week	Pair Corr
0.48	HEI	Heidelberg Materials	Pair Corr
0.42	KGHA	KGHM Polska Miedz	Pair Corr

Related Correlations Analysis

	HO2	LNN0	NVE	SPH1	PU7	TLK	SUI	3BA
HO2		0.63	0.7	-0.21	0.92	0.66	-0.2	-0.46	HO2
LNN0	0.63		0.69	-0.1	0.7	0.66	0.06	-0.06	LNN0
NVE	0.7	0.69		0.15	0.8	0.57	0.19	-0.23	NVE
SPH1	-0.21	-0.1	0.15		-0.16	-0.51	0.59	0.46	SPH1
PU7	0.92	0.7	0.8	-0.16		0.74	-0.15	-0.45	PU7
TLK	0.66	0.66	0.57	-0.51	0.74		-0.21	-0.51	TLK
SUI	-0.2	0.06	0.19	0.59	-0.15	-0.21		0.39	SUI
3BA	-0.46	-0.06	-0.23	0.46	-0.45	-0.51	0.39		3BA
	HO2	LNN0	NVE	SPH1	PU7	TLK	SUI	3BA

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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

PU7	+ 0.92	HO2
PU7	+ 0.8	NVE
TLK	+ 0.74	PU7
NVE	+ 0.7	HO2
PU7	+ 0.7	LNN0
NVE	+ 0.69	LNN0

High negative correlations

3BA	- 0.51	TLK
TLK	- 0.51	SPH1
3BA	- 0.46	HO2
3BA	- 0.45	PU7
3BA	- 0.23	NVE
SUI	- 0.21	TLK

Risk-Adjusted Indicators

There is a big difference between BARRATT Stock performing well and BARRATT DEVEL 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 BARRATT DEVEL'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
HO2	1.76	0.12	0.02	0.44	1.84	(2.11)	4.10	(3.54)	12.74
LNN0	2.04	0.18	0.02	(2.39)	2.01	(2.51)	5.08	(3.25)	11.76
NVE	1.25	0.02	(0.05)	0.21	1.29	(1.74)	3.20	(2.40)	7.97
SPH1	1.02	(0.13)	0.00	10.98	0.00	0.00	2.25	(2.16)	9.96
PU7	1.67	0.23	0.06	1.56	1.88	(1.92)	4.02	(3.53)	14.51
TLK	1.68	0.32	0.12	1.06	1.55	(1.86)	4.48	(3.26)	11.97
SUI	1.08	(0.08)	0.00	(0.14)	0.00	0.00	2.68	(2.01)	7.96
3BA	1.75	(0.24)	0.00	6.28	0.00	0.00	4.15	(4.77)	17.44

Be your own money manager

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