Lundin Energy Correlations

LYV Stock

EUR 0.42 0.01 2.33%

The current 90-days correlation between Lundin Energy AB and AGNC INVESTMENT is 0.09 (i.e., Significant diversification). The correlation of Lundin Energy 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.

Lundin Energy Correlation With Market

Significant diversification

The correlation between Lundin Energy AB and DJI is 0.03 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Lundin Energy AB and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Lundin Stock

0.63	EO5	EOG Resources	Pair Corr
0.62	WOP	WOODSIDE ENE SPADR	Pair Corr
0.66	WOP0	Woodside Energy Group	Pair Corr

Moving against Lundin Stock

0.49	2RR	Alibaba Group Holding	Pair Corr
0.31	GOC	Star Diamond	Pair Corr
0.41	ALV	Allianz SE	Pair Corr

Related Correlations Analysis

	4OQ1	14N1	CNM1	HKT	TMD0	3SH	UCE	SC3
4OQ1		0.77	0.69	0.76	0.38	0.0	0.59	0.85	4OQ1
14N1	0.77		0.36	0.72	0.68	0.0	0.66	0.69	14N1
CNM1	0.69	0.36		0.71	0.17	0.0	0.23	0.75	CNM1
HKT	0.76	0.72	0.71		0.48	0.0	0.54	0.74	HKT
TMD0	0.38	0.68	0.17	0.48		0.0	0.15	0.55	TMD0
3SH	0.0	0.0	0.0	0.0	0.0		0.0	0.0	3SH
UCE	0.59	0.66	0.23	0.54	0.15	0.0		0.45	UCE
SC3	0.85	0.69	0.75	0.74	0.55	0.0	0.45		SC3
	4OQ1	14N1	CNM1	HKT	TMD0	3SH	UCE	SC3

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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

SC3	+ 0.85	4OQ1
14N1	+ 0.77	4OQ1
HKT	+ 0.76	4OQ1
SC3	+ 0.75	CNM1
SC3	+ 0.74	HKT
HKT	+ 0.72	14N1

High negative correlations

SC3	- 0.0	3SH
UCE	- 0.0	3SH
3SH	- 0.0	TMD0
3SH	- 0.0	HKT
3SH	- 0.0	CNM1
3SH	- 0.0	14N1

Risk-Adjusted Indicators

There is a big difference between Lundin Stock performing well and Lundin Energy 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 Lundin Energy'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
4OQ1	1.03	0.17	0.01	(1.42)	1.28	(1.13)	2.19	(2.56)	7.55
14N1	0.99	0.21	0.08	1.48	1.10	(1.15)	2.34	(1.68)	8.39
CNM1	3.11	1.09	0.17	(0.55)	2.74	(4.80)	10.19	(6.59)	35.06
HKT	0.96	0.21	0.04	(1.83)	0.76	(1.79)	1.67	(1.61)	5.11
TMD0	2.44	0.57	0.10	(0.38)	2.07	(3.94)	7.35	(4.23)	18.85
3SH	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
UCE	2.66	0.37	0.06	0.87	3.82	(3.28)	6.51	(5.00)	23.50
SC3	1.55	0.38	0.17	(2.27)	1.06	(2.13)	4.05	(2.14)	13.57

Be your own money manager

Our tools can tell you how much better you can do entering a position in Lundin Energy 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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