GEAR4MUSIC Correlations

G4A Stock

EUR 2.50 0.02 0.79%

The current 90-days correlation between GEAR4MUSIC LS 10 and ANDRADA MINING LTD is 0.04 (i.e., Significant diversification). The correlation of GEAR4MUSIC 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.

GEAR4MUSIC Correlation With Market

Good diversification

The correlation between GEAR4MUSIC LS 10 and DJI is -0.05 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding GEAR4MUSIC LS 10 and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to GEAR4MUSIC could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace GEAR4MUSIC 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 GEAR4MUSIC - 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 GEAR4MUSIC LS 10 to buy it.

Moving together with GEAR4MUSIC Stock

0.7	AMZ	Amazon Inc	Pair Corr
0.7	AMZ	Amazon Inc	Pair Corr
0.72	788	Coupang	Pair Corr
0.8	SSUN	Samsung Electronics	Pair Corr
0.77	SSU	Samsung Electronics	Pair Corr
0.81	SSUN	Samsung Electronics	Pair Corr
0.78	SSU	Samsung Electronics	Pair Corr
0.65	PTI	Perusahaan Perseroan	Pair Corr
0.8	KBIA	KB Financial Group Earnings Call This Week	Pair Corr
0.85	HEI	Heidelberg Materials	Pair Corr
0.74	JOT	ELEKTROBIT	Pair Corr
0.69	KGHA	KGHM Polska Miedz	Pair Corr

Moving against GEAR4MUSIC Stock

0.8	9MD	Meituan	Pair Corr
0.79	9MDA	MEITUAN UNSPADR2B	Pair Corr
0.74	013A	JD Inc Adr	Pair Corr
0.73	013C	JD Inc	Pair Corr
0.64	AHLA	Alibaba Group Holdings	Pair Corr
0.53	DBPD	Xtrackers ShortDAX	Pair Corr
0.39	PQ9	PT Bank Mandiri	Pair Corr
0.31	BZG2	PT Bank Central Earnings Call This Week	Pair Corr

Related Correlations Analysis

	9IA	7JZ	I8M	WN6	US8	LY1	FJZ
9IA		-0.01	-0.01	0.14	-0.57	-0.34	-0.34	9IA
7JZ	-0.01		0.81	0.82	0.65	-0.27	0.77	7JZ
I8M	-0.01	0.81		0.82	0.52	-0.07	0.59	I8M
WN6	0.14	0.82	0.82		0.4	-0.11	0.63	WN6
US8	-0.57	0.65	0.52	0.4		0.05	0.85	US8
LY1	-0.34	-0.27	-0.07	-0.11	0.05		-0.03	LY1
FJZ	-0.34	0.77	0.59	0.63	0.85	-0.03		FJZ
	9IA	7JZ	I8M	WN6	US8	LY1	FJZ

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

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

FJZ	+ 0.85	US8
WN6	+ 0.82	7JZ
WN6	+ 0.82	I8M
I8M	+ 0.81	7JZ
FJZ	+ 0.77	7JZ
US8	+ 0.65	7JZ

High negative correlations

US8	- 0.57	9IA
FJZ	- 0.34	9IA
LY1	- 0.34	9IA
LY1	- 0.27	7JZ
LY1	- 0.11	WN6
LY1	- 0.07	I8M

Risk-Adjusted Indicators

There is a big difference between GEAR4MUSIC Stock performing well and GEAR4MUSIC 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 GEAR4MUSIC'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
9IA	2.13	0.08	(0.01)	(3.05)	2.56	(4.21)	5.00	(5.56)	26.33
7JZ	2.69	0.94	0.25	4.51	2.38	(3.44)	6.74	(3.87)	24.48
I8M	1.23	0.26	0.09	(31.27)	1.03	(1.62)	2.78	(1.74)	7.22
WN6	1.36	0.25	0.06	4.78	1.42	(1.71)	3.52	(2.86)	7.81
US8	2.46	0.42	0.12	1.14	2.43	(3.03)	6.06	(4.32)	22.50
LY1	2.58	0.08	(0.01)	(2.10)	3.06	(6.64)	5.88	(5.56)	22.29
FJZ	2.13	0.33	0.08	0.85	2.43	(2.59)	5.29	(4.81)	13.66

Be your own money manager

Our tools can tell you how much better you can do entering a position in GEAR4MUSIC 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.

Did you try this?

Run Analyst Advice Now

Analyst Advice

Analyst recommendations and target price estimates broken down by several categories

All Next

Launch Module

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2025 Macroaxis LLC