SCIENCE IN Correlations

8D9 Stock

EUR 0.37 0.00 0.00%

The current 90-days correlation between SCIENCE IN SPORT and Kraft Heinz Co is 0.19 (i.e., Average diversification). The correlation of SCIENCE IN 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.

SCIENCE IN Correlation With Market

Good diversification

The correlation between SCIENCE IN SPORT and DJI is -0.12 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding SCIENCE IN SPORT and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with SCIENCE Stock

0.73	9NPA	NIPPON PROLOGIS REIT Earnings Call This Week	Pair Corr
0.65	0S2	UNITED URBAN INV Earnings Call This Week	Pair Corr
0.82	KBIA	KB Financial Group	Pair Corr
0.82	KSF1	SHINHAN FINL ADR1	Pair Corr
0.64	E908	Lyxor 1	Pair Corr

Moving against SCIENCE Stock

0.76	KHNZ	Kraft Heinz	Pair Corr
0.57	KEL	Kellogg Company	Pair Corr
0.56	DBPD	Xtrackers ShortDAX	Pair Corr
0.55	GRM	General Mills	Pair Corr
0.53	GRM	General Mills	Pair Corr
0.4	NESM	Nestlé SA	Pair Corr
0.4	GGG	GUDANG GARAM	Pair Corr

Related Correlations Analysis

	KHNZ	BSN	94P	2DG	IUI1	6HW	VOW	CZX	RS6	3RKU
KHNZ		0.35	-0.52	-0.42	-0.12	-0.16	-0.04	-0.56	-0.64	-0.89	KHNZ
BSN	0.35		-0.28	0.41	0.51	0.11	0.35	0.18	-0.13	-0.64	BSN
94P	-0.52	-0.28		0.43	0.34	0.63	0.33	0.69	0.78	0.52	94P
2DG	-0.42	0.41	0.43		0.66	0.5	0.4	0.83	0.7	0.19	2DG
IUI1	-0.12	0.51	0.34	0.66		0.44	0.68	0.64	0.48	-0.15	IUI1
6HW	-0.16	0.11	0.63	0.5	0.44		0.39	0.69	0.67	0.04	6HW
VOW	-0.04	0.35	0.33	0.4	0.68	0.39		0.45	0.29	-0.19	VOW
CZX	-0.56	0.18	0.69	0.83	0.64	0.69	0.45		0.85	0.31	CZX
RS6	-0.64	-0.13	0.78	0.7	0.48	0.67	0.29	0.85		0.52	RS6
3RKU	-0.89	-0.64	0.52	0.19	-0.15	0.04	-0.19	0.31	0.52		3RKU
	KHNZ	BSN	94P	2DG	IUI1	6HW	VOW	CZX	RS6	3RKU

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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

RS6	+ 0.85	CZX
CZX	+ 0.83	2DG
RS6	+ 0.78	94P
RS6	+ 0.7	2DG
CZX	+ 0.69	94P
CZX	+ 0.69	6HW

High negative correlations

3RKU	- 0.89	KHNZ
3RKU	- 0.64	BSN
RS6	- 0.64	KHNZ
CZX	- 0.56	KHNZ
94P	- 0.52	KHNZ
2DG	- 0.42	KHNZ

Risk-Adjusted Indicators

There is a big difference between SCIENCE Stock performing well and SCIENCE IN 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 SCIENCE IN'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
KHNZ	1.04	(0.19)	0.00	(4.06)	0.00	0.00	1.66	(1.96)	6.71
BSN	0.57	(0.04)	0.00	1.14	0.00	0.00	1.19	(1.09)	5.27
94P	1.29	0.20	0.02	0.91	1.42	(1.66)	3.45	(2.63)	8.04
2DG	3.25	0.23	0.03	0.64	3.10	(5.74)	9.09	(5.71)	20.87
IUI1	1.66	(0.26)	(0.06)	0.06	2.33	(1.86)	3.23	(4.96)	26.44
6HW	0.76	0.25	0.01	(33.34)	0.53	(1.39)	2.60	(1.79)	6.48
VOW	1.39	0.23	0.00	13.70	1.43	(1.75)	3.28	(2.51)	8.14
CZX	0.65	0.07	(0.10)	0.54	0.58	(1.04)	1.75	(1.14)	4.82
RS6	1.27	0.10	0.02	0.39	1.11	(1.49)	3.08	(2.47)	11.93
3RKU	1.68	0.59	0.18	4.47	1.44	(2.26)	4.11	(2.04)	11.00

SCIENCE IN Related Equities

One of the popular trading techniques among algorithmic traders is to use market-neutral strategies where every trade hedges away some risk. Because there are two separate transactions required, even if one position performs unexpectedly, the other equity can make up some of the losses. Below are some of the equities that can be combined with SCIENCE IN stock to make a market-neutral strategy. Peer analysis of SCIENCE IN could also be used in its relative valuation, which is a method of valuing SCIENCE IN by comparing valuation metrics with similar companies.

Kraft Heinz Co Danone SA AUREA SA INH SIVERS SEMICONDUCTORS AB INTUITIVE SURGICAL BANK HANDLOWY Volkswagen AG Expat Czech PX Reliance Steel Aluminum RYOHIN UNSPADR1 American Airlines Group Alcoa Corp Apple Inc Best Buy Co Citigroup

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