ALEFARM BREWING Correlations

902 Stock

EUR 0.21 0.01 5.00%

The current 90-days correlation between ALEFARM BREWING DK and Fomento Econmico Mexicano is 0.02 (i.e., Significant diversification). The correlation of ALEFARM BREWING 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.

The ability to find closely correlated positions to ALEFARM BREWING could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace ALEFARM BREWING 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 ALEFARM BREWING - 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 ALEFARM BREWING DK 05 to buy it.

Moving together with ALEFARM Stock

0.74	NY7	Molson Coors Brewing	Pair Corr
0.67	NY70	MOLSON RS BEVERAGE	Pair Corr
0.73	65K	MOLSON RS CDA	Pair Corr

Moving against ALEFARM Stock

0.69	OS3	Otello ASA	Pair Corr
0.65	JOT	ELEKTROBIT	Pair Corr
0.61	HEI	Heidelberg Materials	Pair Corr
0.56	D7GA	NEL ASA ADR30	Pair Corr
0.56	AG8	AGILENT TECH	Pair Corr
0.55	LYV	Lundin Energy AB	Pair Corr
0.49	KGHA	KGHM Polska Miedz	Pair Corr
0.48	E908	Lyxor 1	Pair Corr
0.41	SEBC	Skandinaviska Enskilda	Pair Corr
0.39	DBPE	Xtrackers LevDAX	Pair Corr

Related Correlations Analysis

	FOMA	ITKA	4BB1	CHK	NY7	65K	0R1
FOMA		0.37	0.22	0.16	0.57	0.52	0.41	FOMA
ITKA	0.37		0.25	-0.58	-0.26	-0.34	0.36	ITKA
4BB1	0.22	0.25		0.32	0.36	0.31	0.24	4BB1
CHK	0.16	-0.58	0.32		0.74	0.74	-0.09	CHK
NY7	0.57	-0.26	0.36	0.74		0.98	0.24	NY7
65K	0.52	-0.34	0.31	0.74	0.98		0.23	65K
0R1	0.41	0.36	0.24	-0.09	0.24	0.23		0R1
	FOMA	ITKA	4BB1	CHK	NY7	65K	0R1

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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

65K	+ 0.98	NY7
NY7	+ 0.74	CHK
65K	+ 0.74	CHK
NY7	+ 0.57	FOMA
65K	+ 0.52	FOMA
0R1	+ 0.41	FOMA

High negative correlations

CHK	- 0.58	ITKA
65K	- 0.34	ITKA
NY7	- 0.26	ITKA
0R1	- 0.09	CHK

Risk-Adjusted Indicators

There is a big difference between ALEFARM Stock performing well and ALEFARM BREWING 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 ALEFARM BREWING'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
FOMA	1.05	0.00	0.00	0.13	0.00	0.00	2.86	(2.19)	6.27
ITKA	0.90	0.11	(0.04)	(0.29)	0.92	(1.32)	1.77	(1.72)	5.07
4BB1	2.34	0.03	(0.03)	11.67	3.53	(3.25)	3.87	(4.35)	43.33
CHK	1.70	(0.06)	0.00	(0.75)	0.00	0.00	4.56	(3.47)	9.62
NY7	1.20	(0.26)	0.00	1.66	0.00	0.00	2.19	(2.55)	8.15
65K	1.24	(0.33)	0.00	(0.71)	0.00	0.00	2.40	(3.54)	7.00
0R1	1.44	(0.01)	0.00	0.19	0.00	0.00	2.21	(2.24)	20.50

Be your own money manager

Our tools can tell you how much better you can do entering a position in ALEFARM BREWING 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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