BASF SE Correlations

BFFAF Stock

USD 50.19 0.05 0.1%

The current 90-days correlation between BASF SE NA and Shin Etsu Chemical Co is 0.07 (i.e., Significant diversification). The correlation of BASF SE 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.

BASF SE Correlation With Market

Average diversification

The correlation between BASF SE NA and DJI is 0.13 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding BASF SE NA and DJI in the same portfolio, assuming nothing else is changed.

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

Moving against BASF OTC Stock

0.73	BSAC	Banco Santander Chile	Pair Corr
0.64	GNENF	Ganfeng Lithium	Pair Corr
0.61	GNENY	Ganfeng Lithium Downward Rally	Pair Corr
0.51	SLF	Sun Life Financial	Pair Corr
0.46	SIGL	Signal Advance	Pair Corr
0.74	BZZUF	Buzzi Unicem SpA	Pair Corr
0.71	EGMCF	Emgold Mining Earnings Call This Week	Pair Corr
0.71	IREN	IREN Earnings Call This Week	Pair Corr
0.66	LUNMF	Lundin Mining	Pair Corr
0.65	FQVLF	First Quantum Minerals	Pair Corr
0.64	SNOW	Snowflake	Pair Corr
0.61	FPLSF	5N Plus	Pair Corr
0.6	TWSI	Tristar Wellness	Pair Corr
0.49	UEPEP	Union Electric	Pair Corr
0.47	BCLYF	Barclays PLC	Pair Corr
0.37	HCHDF	Hochschild Mining PLC	Pair Corr
0.36	REGN	Regeneron Pharmaceuticals	Pair Corr
0.72	TACI	TransAtlantic Capital	Pair Corr
0.67	AIAGF	Aurubis AG	Pair Corr
0.65	MXCHF	Orbia Advance	Pair Corr
0.59	BMO	Bank of Montreal	Pair Corr
0.59	WST	West Pharmaceutical	Pair Corr
0.53	HHUSF	Hua Hong Semiconductor	Pair Corr
0.52	DHT	DHT Holdings	Pair Corr
0.52	BRRDF	Borregaard ASA	Pair Corr

Related Correlations Analysis

	SHECF	PTCAY	NGLOY	CMCLF	HCMLF	HLBZF	SHECY	FSUMF	HCMLY	GVDNY
SHECF		0.0	0.27	0.02	-0.43	-0.35	0.75	-0.3	-0.49	0.06	SHECF
PTCAY	0.0		0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	PTCAY
NGLOY	0.27	0.0		0.81	0.3	-0.38	0.38	0.5	0.32	-0.03	NGLOY
CMCLF	0.02	0.0	0.81		0.48	-0.23	0.04	0.67	0.46	-0.12	CMCLF
HCMLF	-0.43	0.0	0.3	0.48		0.34	-0.45	0.48	0.81	-0.11	HCMLF
HLBZF	-0.35	0.0	-0.38	-0.23	0.34		-0.63	0.12	0.45	0.1	HLBZF
SHECY	0.75	0.0	0.38	0.04	-0.45	-0.63		-0.33	-0.57	0.04	SHECY
FSUMF	-0.3	0.0	0.5	0.67	0.48	0.12	-0.33		0.64	-0.06	FSUMF
HCMLY	-0.49	0.0	0.32	0.46	0.81	0.45	-0.57	0.64		0.02	HCMLY
GVDNY	0.06	0.0	-0.03	-0.12	-0.11	0.1	0.04	-0.06	0.02		GVDNY
	SHECF	PTCAY	NGLOY	CMCLF	HCMLF	HLBZF	SHECY	FSUMF	HCMLY	GVDNY

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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

CMCLF	+ 0.81	NGLOY
HCMLY	+ 0.81	HCMLF
SHECY	+ 0.75	SHECF
FSUMF	+ 0.67	CMCLF
HCMLY	+ 0.64	FSUMF
FSUMF	+ 0.5	NGLOY

High negative correlations

SHECY	- 0.63	HLBZF
HCMLY	- 0.57	SHECY
HCMLY	- 0.49	SHECF
SHECY	- 0.45	HCMLF
HCMLF	- 0.43	SHECF
HLBZF	- 0.38	NGLOY

Risk-Adjusted Indicators

There is a big difference between BASF OTC Stock performing well and BASF SE OTC Stock 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 BASF SE'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
SHECF	3.91	0.07	0.01	0.34	4.93	(4.00)	9.18	(9.12)	19.90
PTCAY	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NGLOY	1.52	0.29	0.15	0.37	1.52	(1.64)	3.31	(2.82)	12.88
CMCLF	4.57	0.94	0.16	(18.58)	4.35	(5.95)	12.41	(9.09)	28.66
HCMLF	1.08	0.04	0.00	0.15	1.65	(2.43)	4.43	(3.21)	14.85
HLBZF	2.79	0.09	0.02	0.66	3.35	(3.07)	5.51	(5.36)	16.96
SHECY	1.25	(0.14)	0.00	(0.11)	0.00	0.00	3.37	(2.95)	9.13
FSUMF	1.28	0.19	0.06	0.67	1.74	(1.97)	3.36	(2.73)	10.74
HCMLY	1.09	0.05	0.05	0.09	1.05	(1.26)	1.97	(1.91)	6.91
GVDNY	1.00	(0.06)	0.00	(0.07)	0.00	0.00	2.10	(1.93)	6.65

Be your own money manager

Our tools can tell you how much better you can do entering a position in BASF SE 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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