Angling Direct Correlations

ANG Stock

46.00 1.00 2.13%

The current 90-days correlation between Angling Direct PLC and Verizon Communications is 0.06 (i.e., Significant diversification). The correlation of Angling Direct 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.

Angling Direct Correlation With Market

Modest diversification

The correlation between Angling Direct PLC and DJI is 0.25 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Angling Direct PLC and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Angling Stock

0.63	SMSN	Samsung Electronics	Pair Corr
0.63	BC94	Samsung Electronics	Pair Corr
0.79	0QKN	Chocoladefabriken Lindt Earnings Call This Week	Pair Corr
0.81	0QP1	Chocoladefabriken Lindt Earnings Call This Week	Pair Corr
0.79	0M69	OTP Bank Nyrt	Pair Corr
0.68	HSBK	Halyk Bank	Pair Corr
0.71	KAP	National Atomic	Pair Corr
0.85	HSX	Hiscox	Pair Corr
0.79	0IKZ	Freddie Mac	Pair Corr
0.78	0O2B	Gruppo MutuiOnline SpA	Pair Corr
0.65	0I9F	Digital Realty Trust Earnings Call This Week	Pair Corr
0.82	S247	Smarttech247 Group PLC	Pair Corr

Moving against Angling Stock

0.71

0R37

Berkshire Hathaway

Pair Corr

Related Correlations Analysis

	0Q1S	0HD0	0GE4	0HW4	BIRG	GAMA	0R8S
0Q1S		-0.48	-0.37	-0.06	-0.27	0.48	-0.28	0Q1S
0HD0	-0.48		0.83	0.51	0.85	-0.76	0.69	0HD0
0GE4	-0.37	0.83		0.51	0.94	-0.8	0.82	0GE4
0HW4	-0.06	0.51	0.51		0.59	-0.24	0.71	0HW4
BIRG	-0.27	0.85	0.94	0.59		-0.77	0.78	BIRG
GAMA	0.48	-0.76	-0.8	-0.24	-0.77		-0.51	GAMA
0R8S	-0.28	0.69	0.82	0.71	0.78	-0.51		0R8S
	0Q1S	0HD0	0GE4	0HW4	BIRG	GAMA	0R8S

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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

BIRG	+ 0.94	0GE4
BIRG	+ 0.85	0HD0
0GE4	+ 0.83	0HD0
0R8S	+ 0.82	0GE4
0R8S	+ 0.78	BIRG
0R8S	+ 0.71	0HW4

High negative correlations

GAMA	- 0.8	0GE4
GAMA	- 0.77	BIRG
GAMA	- 0.76	0HD0
0R8S	- 0.51	GAMA
0HD0	- 0.48	0Q1S
0GE4	- 0.37	0Q1S

Risk-Adjusted Indicators

There is a big difference between Angling Stock performing well and Angling Direct 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 Angling Direct'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
0Q1S	0.93	(0.08)	0.00	(7.07)	0.00	0.00	1.87	(1.70)	5.47
0HD0	1.46	0.26	0.12	0.66	1.28	(1.72)	3.66	(2.10)	11.55
0GE4	1.15	0.58	0.39	(4.10)	0.38	(1.43)	3.15	(1.51)	13.88
0HW4	1.58	0.13	0.02	0.46	1.76	(1.67)	3.30	(2.88)	13.48
BIRG	1.50	0.25	0.10	0.55	1.56	(1.61)	3.88	(2.91)	9.39
GAMA	1.41	(0.14)	0.00	(2.53)	0.00	0.00	3.57	(2.62)	14.82
0R8S	0.72	0.21	0.07	(1.40)	0.55	(0.87)	1.59	(0.98)	5.52

Be your own money manager

Our tools can tell you how much better you can do entering a position in Angling Direct 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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