Enea SA Correlations

ENA Stock

19.73 0.37 1.84%

The current 90-days correlation between Enea SA and UniCredit SpA is 0.16 (i.e., Average diversification). The correlation of Enea SA 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. If the correlation is 0, the equities are not correlated; they are entirely random.

Enea SA Correlation With Market

Good diversification

The correlation between Enea SA and DJI is -0.01 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Enea SA and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Enea Stock

0.62	MRC	Mercator Medical	Pair Corr
0.85	UCG	UniCredit SpA Earnings Call This Week	Pair Corr
0.66	EAH	Esotiq Henderson	Pair Corr

Moving against Enea Stock

0.58	MOV	Movie Games SA	Pair Corr
0.48	ALL	Ailleron SA	Pair Corr
0.37	06N	Magna Polonia SA	Pair Corr

Related Correlations Analysis

	SPL	CRM	CRI	GRX	UCG	CFS	MIL	MBK
SPL		0.49	-0.23	0.53	-0.52	0.65	0.8	0.8	SPL
CRM	0.49		0.01	0.53	-0.27	0.4	0.53	0.56	CRM
CRI	-0.23	0.01		-0.03	0.46	-0.26	0.05	0.06	CRI
GRX	0.53	0.53	-0.03		-0.56	0.61	0.29	0.38	GRX
UCG	-0.52	-0.27	0.46	-0.56		-0.66	-0.34	-0.36	UCG
CFS	0.65	0.4	-0.26	0.61	-0.66		0.46	0.54	CFS
MIL	0.8	0.53	0.05	0.29	-0.34	0.46		0.86	MIL
MBK	0.8	0.56	0.06	0.38	-0.36	0.54	0.86		MBK
	SPL	CRM	CRI	GRX	UCG	CFS	MIL	MBK

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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

MBK	+ 0.86	MIL
MIL	+ 0.8	SPL
MBK	+ 0.8	SPL
CFS	+ 0.65	SPL
CFS	+ 0.61	GRX
MBK	+ 0.56	CRM

High negative correlations

CFS	- 0.66	UCG
UCG	- 0.56	GRX
UCG	- 0.52	SPL
MBK	- 0.36	UCG
MIL	- 0.34	UCG
UCG	- 0.27	CRM

Risk-Adjusted Indicators

There is a big difference between Enea Stock performing well and Enea SA 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 Enea SA'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
SPL	1.58	0.09	(0.04)	(0.27)	2.06	(1.61)	2.94	(2.97)	12.70
CRM	1.58	(0.05)	(0.05)	0.03	1.63	(3.29)	5.45	(3.51)	11.05
CRI	1.66	0.35	0.12	(1.97)	1.38	(2.03)	6.04	(2.53)	11.04
GRX	1.38	(0.02)	0.00	0.35	0.00	0.00	3.05	(2.78)	12.82
UCG	1.05	0.28	0.10	1.10	0.98	(1.49)	3.99	(1.40)	11.14
CFS	1.10	(0.02)	(0.05)	0.07	1.45	(2.16)	3.56	(2.22)	11.80
MIL	1.99	0.04	(0.03)	0.32	2.23	(2.34)	4.54	(4.14)	10.63
MBK	1.66	0.13	0.00	3.63	1.80	(1.91)	4.31	(3.13)	9.21

Be your own money manager

Our tools can tell you how much better you can do entering a position in Enea SA 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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Enea SA Corporate Management

Elected by the shareholders, the Enea SA's board of directors comprises two types of representatives: Enea SA inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Enea. The board's role is to monitor Enea SA's management team and ensure that shareholders' interests are well served. Enea SA's inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, Enea SA's outside directors are responsible for providing unbiased perspectives on the board's policies.

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