MEDIPAL HOLDINGS Correlations

59Z Stock

EUR 14.00 0.10 0.72%

The current 90-days correlation between MEDIPAL HOLDINGS P and COLUMBIA SPORTSWEAR is -0.13 (i.e., Good diversification). The correlation of MEDIPAL HOLDINGS 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.

MEDIPAL HOLDINGS Correlation With Market

Very good diversification

The correlation between MEDIPAL HOLDINGS P and DJI is -0.39 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding MEDIPAL HOLDINGS P and DJI in the same portfolio, assuming nothing else is changed.

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

Moving against MEDIPAL Stock

0.59	CLH	Cardinal Health	Pair Corr
0.58	HS2	Henry Schein	Pair Corr
0.54	SSU	Samsung Electronics	Pair Corr
0.54	SSUN	Samsung Electronics Earnings Call This Week	Pair Corr
0.52	SSU	Samsung Electronics	Pair Corr
0.51	S1R	Shanghai Pharmaceuticals	Pair Corr
0.49	SSUN	Samsung Electronics Earnings Call This Week	Pair Corr
0.35	X2S	Sinopharm Group	Pair Corr
0.33	X2S1	SINOPHARM GROUP 15ON	Pair Corr
0.63	0ZQ	JSC National Atomic	Pair Corr
0.63	AZU	Ebro Foods SA Earnings Call This Week	Pair Corr
0.63	UE1	Universal Electronics	Pair Corr
0.6	FJZ	Zijin Mining Group	Pair Corr
0.58	CLH	CARDINAL HEALTH	Pair Corr
0.57	GXE	Galapagos NV Earnings Call Tomorrow	Pair Corr
0.56	JPX	AeroVironment	Pair Corr
0.52	6IC	Iridium Communications Earnings Call This Week	Pair Corr
0.48	R6N	Retail Estates NV Earnings Call This Week	Pair Corr
0.48	SWN	SOUTHWEST AIRLINES Earnings Call This Week	Pair Corr
0.48	XCA	CREDIT AGRICOLE	Pair Corr
0.39	PN1	Penn National Gaming	Pair Corr
0.34	6L50	FUTURE GAMING GRP	Pair Corr
0.74	GZF	Engie SA	Pair Corr
0.7	HC1	HEICO	Pair Corr
0.68	PB8	Phibro Animal Health	Pair Corr
0.63	NCB	Bank of America	Pair Corr

Related Correlations Analysis

	CUW	D2V	CEK	M0W	I9V	UWS	TG9	COE
CUW		-0.6	0.3	-0.34	0.08	0.46	-0.07	-0.46	CUW
D2V	-0.6		-0.26	0.81	0.44	-0.44	0.66	0.8	D2V
CEK	0.3	-0.26		-0.27	-0.12	0.11	-0.05	-0.03	CEK
M0W	-0.34	0.81	-0.27		0.48	-0.03	0.6	0.52	M0W
I9V	0.08	0.44	-0.12	0.48		0.07	0.33	0.24	I9V
UWS	0.46	-0.44	0.11	-0.03	0.07		-0.13	-0.49	UWS
TG9	-0.07	0.66	-0.05	0.6	0.33	-0.13		0.66	TG9
COE	-0.46	0.8	-0.03	0.52	0.24	-0.49	0.66		COE
	CUW	D2V	CEK	M0W	I9V	UWS	TG9	COE

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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

M0W	+ 0.81	D2V
COE	+ 0.8	D2V
TG9	+ 0.66	D2V
COE	+ 0.66	TG9
TG9	+ 0.6	M0W
COE	+ 0.52	M0W

High negative correlations

D2V	- 0.6	CUW
COE	- 0.49	UWS
COE	- 0.46	CUW
UWS	- 0.44	D2V
M0W	- 0.34	CUW
M0W	- 0.27	CEK

Risk-Adjusted Indicators

There is a big difference between MEDIPAL Stock performing well and MEDIPAL HOLDINGS 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 MEDIPAL HOLDINGS'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
CUW	1.31	(0.29)	0.00	(0.25)	0.00	0.00	3.48	(3.70)	9.05
D2V	1.43	0.51	0.20	(3.46)	1.16	(1.91)	4.76	(2.33)	8.55
CEK	3.19	0.13	(0.01)	(0.39)	3.33	(3.86)	6.48	(5.03)	29.64
M0W	2.57	0.53	0.18	0.76	2.22	(3.16)	7.29	(4.33)	27.10
I9V	2.40	0.01	0.00	0.14	2.58	(3.74)	6.17	(4.17)	23.01
UWS	0.90	(0.07)	0.00	0.56	0.00	0.00	1.76	(2.02)	5.06
TG9	1.46	0.23	0.02	(0.40)	1.81	(1.84)	3.95	(4.03)	12.06
COE	1.62	0.46	0.15	2.09	1.57	(1.91)	4.56	(3.33)	9.55

Be your own money manager

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