ON THE Correlations

9BP Stock

EUR 3.30 0.02 0.60%

The current 90-days correlation between ON THE BEACH and MakeMyTrip Limited is -0.17 (i.e., Good diversification). The correlation of ON THE 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.

ON THE Correlation With Market

Significant diversification

The correlation between ON THE BEACH and DJI is 0.07 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding ON THE BEACH and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with 9BP Stock

0.63	TUI1	TUI AG	Pair Corr
0.64	LI4	Lindblad Expeditions	Pair Corr
0.66	SSU	Samsung Electronics	Pair Corr
0.71	SSUN	Samsung Electronics Earnings Call This Week	Pair Corr
0.71	SSUN	Samsung Electronics Earnings Call This Week	Pair Corr
0.65	SSU	Samsung Electronics	Pair Corr
0.65	KGHA	KGHM Polska Miedz	Pair Corr
0.65	HEI	Heidelberg Materials	Pair Corr
0.64	JOT	ELEKTROBIT	Pair Corr
0.68	FA2	FORWARD AIR P	Pair Corr

Moving against 9BP Stock

0.59	MY1	MakeMyTrip Limited Earnings Call Today	Pair Corr
0.4	DBPD	Xtrackers ShortDAX	Pair Corr

Related Correlations Analysis

	CLVB	WD5A	TUI1	T6A	MY1	2T9A	LI4	9BP
CLVB		0.2	0.28	0.45	0.49	-0.31	0.1	-0.3	CLVB
WD5A	0.2		0.68	0.86	-0.58	-0.43	0.95	0.56	WD5A
TUI1	0.28	0.68		0.69	-0.25	-0.23	0.69	0.63	TUI1
T6A	0.45	0.86	0.69		-0.34	-0.43	0.79	0.45	T6A
MY1	0.49	-0.58	-0.25	-0.34		0.26	-0.67	-0.59	MY1
2T9A	-0.31	-0.43	-0.23	-0.43	0.26		-0.42	-0.02	2T9A
LI4	0.1	0.95	0.69	0.79	-0.67	-0.42		0.64	LI4
9BP	-0.3	0.56	0.63	0.45	-0.59	-0.02	0.64		9BP
	CLVB	WD5A	TUI1	T6A	MY1	2T9A	LI4	9BP

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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

LI4	+ 0.95	WD5A
T6A	+ 0.86	WD5A
LI4	+ 0.79	T6A
T6A	+ 0.69	TUI1
LI4	+ 0.69	TUI1
TUI1	+ 0.68	WD5A

High negative correlations

LI4	- 0.67	MY1
9BP	- 0.59	MY1
MY1	- 0.58	WD5A
2T9A	- 0.43	T6A
2T9A	- 0.43	WD5A
LI4	- 0.42	2T9A

Risk-Adjusted Indicators

There is a big difference between 9BP Stock performing well and ON THE 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 ON THE'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
CLVB	2.37	0.14	0.02	0.54	3.19	(2.37)	4.63	(4.73)	17.55
WD5A	1.46	0.35	0.22	0.54	1.02	(1.98)	3.95	(2.31)	10.48
TUI1	1.98	0.34	0.07	1.99	2.70	(2.28)	4.27	(3.43)	15.22
T6A	2.77	0.67	0.19	13.03	2.35	(3.46)	7.53	(3.59)	25.93
MY1	1.93	(0.03)	0.00	0.80	0.00	0.00	4.37	(3.28)	19.10
2T9A	2.00	(0.03)	0.00	(0.79)	0.00	0.00	4.79	(5.75)	14.05
LI4	2.31	0.64	0.21	4.01	1.84	(2.96)	5.15	(3.26)	14.02
9BP	1.40	0.10	(0.01)	0.75	1.81	(2.14)	3.29	(3.61)	11.91

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Our tools can tell you how much better you can do entering a position in ON THE 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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