QLEANAIR Correlations

Stocks . Germany . 
Stock . QLEANAIR AB SK 50
9ZJ Stock   1.66  0.04  2.35%   
The current 90-days correlation between QLEANAIR AB SK and NorAm Drilling AS is -0.19 (i.e., Good diversification). The correlation of QLEANAIR 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.

QLEANAIR Correlation With Market

Average diversification

The correlation between QLEANAIR AB SK 50 and DJI is 0.1 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding QLEANAIR AB SK 50 and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to QLEANAIR could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace QLEANAIR 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 QLEANAIR - 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 QLEANAIR AB SK 50 to buy it.

Moving together with QLEANAIR Stock

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Moving against QLEANAIR Stock

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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   
TG9
+ 0.74
WIQ
WIQ
+ 0.68
ROW
ROW
+ 0.63
3GH
WIQ
+ 0.6
UCE
TG9
+ 0.58
ROW
WIQ
+ 0.58
9IRA
  
High negative correlations   
ROW
- 0.62
TM9
WIQ
- 0.61
TM9
3GH
- 0.51
TM9
9IRA
- 0.45
TM9
TG9
- 0.43
TM9
UCE
- 0.31
TM9

Risk-Adjusted Indicators

There is a big difference between QLEANAIR Stock performing well and QLEANAIR 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 QLEANAIR'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 QLEANAIR 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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