LIVZON PHARMAC Correlations

LP6 Stock

EUR 3.98 0.02 0.50%

The current 90-days correlation between LIVZON PHARMAC GRP and The Boston Beer is 0.09 (i.e., Significant diversification). The correlation of LIVZON PHARMAC 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.

LIVZON PHARMAC Correlation With Market

Average diversification

The correlation between LIVZON PHARMAC GRP and DJI is 0.11 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding LIVZON PHARMAC GRP and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with LIVZON Stock

0.61	S2P	SIMCERE PHARMAC GRP	Pair Corr
0.78	CJH	CanSino Biologics	Pair Corr
0.69	KBIA	KB Financial Group Earnings Call This Week	Pair Corr
0.71	HYU	Hyundai Motor Earnings Call This Week	Pair Corr
0.78	2WGA	WOORI FIN GRP Earnings Call This Week	Pair Corr
0.65	AMZ	Amazon Inc	Pair Corr
0.68	M04	MGM CHINA HLDGS	Pair Corr
0.71	PTX	Palantir Technologies	Pair Corr
0.72	2HZ	Odyssean Investment Trust	Pair Corr
0.63	2HRA	HR GmbH	Pair Corr
0.79	63TA	Tencent Music Entert	Pair Corr
0.7	EDW	EDP Renovveis SA	Pair Corr
0.69	INR	International Consolidated	Pair Corr

Moving against LIVZON Stock

0.6	MRK	Merck KGaA	Pair Corr
0.48	DMP	Dermapharm Holding	Pair Corr
0.37	H6D	Haleon PLC	Pair Corr
0.31	BSFA	ANI Pharmaceuticals	Pair Corr

Related Correlations Analysis

	BBEA	42V	PD0	MEL	IC1B	SDP	CL1A
BBEA		-0.9	-0.38	-0.81	0.1	-0.84	-0.88	BBEA
42V	-0.9		0.47	0.83	0.19	0.85	0.83	42V
PD0	-0.38	0.47		0.68	0.55	0.79	0.46	PD0
MEL	-0.81	0.83	0.68		0.31	0.91	0.88	MEL
IC1B	0.1	0.19	0.55	0.31		0.29	-0.03	IC1B
SDP	-0.84	0.85	0.79	0.91	0.29		0.82	SDP
CL1A	-0.88	0.83	0.46	0.88	-0.03	0.82		CL1A
	BBEA	42V	PD0	MEL	IC1B	SDP	CL1A

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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

SDP	+ 0.91	MEL
CL1A	+ 0.88	MEL
SDP	+ 0.85	42V
MEL	+ 0.83	42V
CL1A	+ 0.83	42V
CL1A	+ 0.82	SDP

High negative correlations

42V	- 0.9	BBEA
CL1A	- 0.88	BBEA
SDP	- 0.84	BBEA
MEL	- 0.81	BBEA
PD0	- 0.38	BBEA
CL1A	- 0.03	IC1B

Risk-Adjusted Indicators

There is a big difference between LIVZON Stock performing well and LIVZON PHARMAC 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 LIVZON PHARMAC'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
BBEA	1.51	(0.38)	0.00	3.24	0.00	0.00	2.65	(3.19)	8.45
42V	2.59	0.49	0.11	(1.00)	2.40	(3.29)	5.88	(3.67)	26.02
PD0	2.10	0.31	0.08	(4.57)	1.95	(2.71)	5.17	(3.62)	14.58
MEL	1.20	0.38	0.15	(1.53)	1.03	(1.41)	3.23	(2.12)	7.59
IC1B	1.25	0.16	0.02	(6.12)	1.17	(1.64)	2.58	(1.98)	7.84
SDP	2.20	0.43	0.12	1.90	2.17	(2.54)	4.28	(3.52)	14.09
CL1A	3.42	0.63	0.12	19.80	3.37	(5.77)	11.43	(6.67)	28.02

Be your own money manager

Our tools can tell you how much better you can do entering a position in LIVZON PHARMAC 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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