GVS SPA Correlations

Stocks . Germany . 
Stock . GVS SPA
4YQ Stock  EUR 4.82  0.02  0.42%   
The current 90-days correlation between GVS SPA and CLEAN ENERGY FUELS is 0.17 (i.e., Average diversification). The correlation of GVS SPA 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.

GVS SPA Correlation With Market

Good diversification

The correlation between GVS SPA and DJI is -0.16 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding GVS SPA and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to GVS SPA could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace GVS SPA 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 GVS SPA - 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 GVS SPA to buy it.

Moving together with GVS Stock

  0.64KWI Kurita Water IndustriesPairCorr
  0.63KWI0 KURITA WTR INDUNSPADRPairCorr
  0.6768C CHINA CH VENTPairCorr
  0.82FSG Federal SignalPairCorr
  0.65WCE CECO Environmental CorpPairCorr
  0.71AMZ Amazon IncPairCorr
  0.72AMZ Amazon IncPairCorr
  0.69HHP2 Hon Hai PrecisionPairCorr
  0.62DWNI Deutsche Wohnen SEPairCorr
  0.66EBO Erste Group BankPairCorr
  0.89KGX1 KION GROUP AGPairCorr
  0.7836N NEW MILLENNIUM IRONPairCorr
  0.78AWG Asbury AutomotivePairCorr
  0.674OQ1 AGNC INVESTMENT Earnings Call TomorrowPairCorr
  0.64SH9 Shenandoah TelecommunicatioPairCorr

Moving against GVS Stock

  0.44CSA Accenture plcPairCorr
  0.42WMT WalmartPairCorr
  0.37WMT WalmartPairCorr
  0.45M8G Media and GamesPairCorr
  0.35ZCT1 Zimtu Capital Corp SplitPairCorr

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   
WIQ
+ 0.96
WIQ
5PMA
+ 0.67
TM9
WIQ
+ 0.66
UCE
UCE
+ 0.62
WIQ
TMD0
+ 0.53
AM8
TMD0
+ 0.5
WIQ
  
High negative correlations   
TM9
- 0.62
WIQ
TM9
- 0.6
WIQ
5PMA
- 0.45
WIQ
B2W
- 0.4
AM8
5PMA
- 0.38
B2W
5PMA
- 0.38
WIQ

Risk-Adjusted Indicators

There is a big difference between GVS Stock performing well and GVS SPA 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 GVS SPA'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 GVS SPA 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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