RCS MediaGroup Correlations

HPI2 Stock

EUR 0.97 0.02 2.11%

The current 90-days correlation between RCS MediaGroup SpA and Sumitomo Rubber Industries is -0.17 (i.e., Good diversification). The correlation of RCS MediaGroup 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.

RCS MediaGroup Correlation With Market

Significant diversification

The correlation between RCS MediaGroup SpA and DJI is 0.04 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding RCS MediaGroup SpA and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with RCS Stock

0.68	RDEB	RELX PLC	Pair Corr
0.7	NYT	New York	Pair Corr
0.63	3T4	TERADATA	Pair Corr
0.72	NRM	INSURANCE AUST GRP	Pair Corr
0.74	SIKB	SIKA AG UNSPADR	Pair Corr
0.66	1N8	Adyen NV	Pair Corr
0.68	ADH2	Air Canada	Pair Corr
0.72	FUJA	FUJITSU LTD ADR	Pair Corr

Moving against RCS Stock

0.53	49B	BeiGene	Pair Corr
0.36	4Y7	PLATO GOLD P	Pair Corr

Related Correlations Analysis

	108	VMC	CMW	SIT4	1CG	N4Q1	E4C	HEI
108		0.58	-0.2	0.25	-0.55	-0.4	0.3	0.02	108
VMC	0.58		0.36	0.62	-0.58	0.07	0.61	0.51	VMC
CMW	-0.2	0.36		0.65	-0.08	0.72	0.36	0.51	CMW
SIT4	0.25	0.62	0.65		-0.26	0.58	0.58	0.54	SIT4
1CG	-0.55	-0.58	-0.08	-0.26		0.21	-0.05	0.22	1CG
N4Q1	-0.4	0.07	0.72	0.58	0.21		0.39	0.56	N4Q1
E4C	0.3	0.61	0.36	0.58	-0.05	0.39		0.8	E4C
HEI	0.02	0.51	0.51	0.54	0.22	0.56	0.8		HEI
	108	VMC	CMW	SIT4	1CG	N4Q1	E4C	HEI

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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

HEI	+ 0.8	E4C
N4Q1	+ 0.72	CMW
SIT4	+ 0.65	CMW
SIT4	+ 0.62	VMC
E4C	+ 0.61	VMC
VMC	+ 0.58	108

High negative correlations

1CG	- 0.58	VMC
1CG	- 0.55	108
N4Q1	- 0.4	108
1CG	- 0.26	SIT4
CMW	- 0.2	108
1CG	- 0.08	CMW

Risk-Adjusted Indicators

There is a big difference between RCS Stock performing well and RCS MediaGroup 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 RCS MediaGroup'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
108	1.51	0.01	(0.04)	0.25	1.82	(1.71)	3.53	(2.84)	15.26
VMC	1.46	0.28	(0.02)	(0.55)	1.47	(1.99)	2.89	(2.61)	11.56
CMW	1.61	0.23	0.01	1.95	1.73	(3.22)	4.44	(4.00)	12.63
SIT4	1.61	0.16	0.01	0.66	1.78	(1.87)	3.98	(3.46)	9.36
1CG	2.63	0.41	0.03	(1.97)	3.33	(3.99)	6.79	(5.70)	16.18
N4Q1	1.65	0.20	(0.01)	9.04	1.89	(2.04)	4.42	(3.57)	11.02
E4C	1.07	0.15	(0.04)	4.44	1.24	(1.77)	2.38	(1.60)	11.95
HEI	1.78	0.65	0.15	(1.14)	1.58	(1.93)	4.13	(2.84)	18.23

Be your own money manager

Our tools can tell you how much better you can do entering a position in RCS MediaGroup 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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