Cheops Technology Correlations

MLCHE Stock

EUR 62.00 0.00 0.00%

The current 90-days correlation between Cheops Technology France and Compagnie Industrielle et is 0.16 (i.e., Average diversification). The correlation of Cheops Technology 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.

Cheops Technology Correlation With Market

Significant diversification

The correlation between Cheops Technology France 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 Cheops Technology France and DJI in the same portfolio, assuming nothing else is changed.

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

Moving against Cheops Stock

0.52	ALINN	Innelec Multimedia	Pair Corr
0.5	SOP	Sopra Steria Group Earnings Call This Week	Pair Corr
0.5	IDL	ID Logistics Group	Pair Corr
0.47	WAVE	Wavestone SA	Pair Corr
0.46	CAP	Capgemini SE	Pair Corr
0.45	AUB	Aubay Socit Anonyme	Pair Corr
0.36	RBT	Robertet SA	Pair Corr

Related Correlations Analysis

	ALGIL	AUB	NRO	SAF	LI	BUR	INFE	ALINN	CBOT
ALGIL		0.74	0.12	0.89	0.9	0.9	0.75	0.85	0.75	ALGIL
AUB	0.74		0.19	0.73	0.57	0.8	0.81	0.81	0.75	AUB
NRO	0.12	0.19		0.03	0.13	0.07	0.19	0.19	0.19	NRO
SAF	0.89	0.73	0.03		0.79	0.89	0.77	0.83	0.88	SAF
LI	0.9	0.57	0.13	0.79		0.79	0.68	0.73	0.64	LI
BUR	0.9	0.8	0.07	0.89	0.79		0.83	0.89	0.81	BUR
INFE	0.75	0.81	0.19	0.77	0.68	0.83		0.88	0.86	INFE
ALINN	0.85	0.81	0.19	0.83	0.73	0.89	0.88		0.87	ALINN
CBOT	0.75	0.75	0.19	0.88	0.64	0.81	0.86	0.87		CBOT
	ALGIL	AUB	NRO	SAF	LI	BUR	INFE	ALINN	CBOT

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Risk-Adjusted Indicators

There is a big difference between Cheops Stock performing well and Cheops Technology 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 Cheops Technology'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
ALGIL	0.82	0.22	0.07	4.19	0.82	(1.00)	2.10	(1.71)	7.28
AUB	1.36	0.28	0.06	(0.59)	1.35	(1.64)	2.63	(2.30)	16.65
NRO	1.05	0.03	(0.07)	0.90	1.39	(1.10)	2.09	(2.75)	5.66
SAF	0.96	0.44	0.21	35.65	0.85	(1.06)	2.33	(1.90)	8.41
LI	0.61	0.12	0.01	1.50	0.55	(0.70)	1.34	(1.28)	4.83
BUR	1.17	0.32	0.09	(1.01)	1.12	(1.42)	2.79	(2.24)	10.04
INFE	4.54	0.78	0.08	(4.16)	5.34	(6.51)	13.14	(11.61)	29.82
ALINN	1.57	0.30	0.07	(0.78)	1.50	(2.11)	4.78	(2.54)	14.71
CBOT	0.36	0.11	(0.04)	(56.52)	0.16	(0.53)	0.89	(0.82)	2.56

Be your own money manager

Our tools can tell you how much better you can do entering a position in Cheops Technology 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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