Multi Manager Correlations

MMINO Stock

DKK 97.88 0.09 0.09%

The current 90-days correlation between Multi Manager Invest and Novo Nordisk AS is 0.16 (i.e., Average diversification). The correlation of Multi Manager 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.

Multi Manager Correlation With Market

Good diversification

The correlation between Multi Manager Invest and DJI is -0.01 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Multi Manager Invest and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Multi Stock

0.8	NDA-DK	Nordea Bank Abp	Pair Corr
0.76	DSV	DSV Panalpina AS	Pair Corr
0.67	ORSTED	Orsted AS	Pair Corr
0.84	VWS	Vestas Wind Systems	Pair Corr
0.72	CARL-B	Carlsberg AS	Pair Corr
0.82	UIE	UIE PLC	Pair Corr
0.9	NETC	Netcompany Group	Pair Corr
0.8	FYNBK	Fynske Bank AS	Pair Corr
0.74	HVID	Hvidbjerg Bank	Pair Corr
0.65	GJ	Glunz Jensen	Pair Corr
0.83	DANSKE	Danske Bank AS	Pair Corr
0.66	GUBRA	Gubra AS	Pair Corr
0.69	SYVAUA	Sydinvest Aggressiv	Pair Corr
0.91	SYVFVOUA	Sydinv Formue Vkstori	Pair Corr
0.89	SKIKON	SKAGEN Kon Tiki	Pair Corr
0.77	MAJGO	Maj Invest	Pair Corr
0.71	SKJE	Skjern Bank AS	Pair Corr
0.77	SYDB	Sydbank AS	Pair Corr
0.73	ALK-B	ALK Abell AS	Pair Corr
0.84	VJBA	Vestjysk Bank AS	Pair Corr
0.61	ALEFRM	Alefarm Brewing AS	Pair Corr
0.72	EMBLA	Embla Medical hf	Pair Corr
0.61	DKIDK	Danske Invest Danmark	Pair Corr

Moving against Multi Stock

0.89	ESG	Ennogie Solar Group	Pair Corr
0.86	NOVO-B	Novo Nordisk AS	Pair Corr
0.67	MONSO	Monsenso AS	Pair Corr
0.38	RBLN-B	Roblon AS	Pair Corr
0.48	NRDF	Nordfyns Bank AS	Pair Corr

Related Correlations Analysis

	NOVO-B	NDA-DK	DSV	MAERSK-B	MAERSK-A	ORSTED	VWS	GMAB	COLO-B	CARL-B
NOVO-B		-0.72	-0.68	-0.35	-0.38	-0.5	-0.75	0.18	-0.3	-0.63	NOVO-B
NDA-DK	-0.72		0.93	0.69	0.72	0.69	0.83	0.21	0.12	0.9	NDA-DK
DSV	-0.68	0.93		0.77	0.8	0.71	0.89	0.23	0.14	0.9	DSV
MAERSK-B	-0.35	0.69	0.77		1.0	0.33	0.52	0.02	-0.03	0.71	MAERSK-B
MAERSK-A	-0.38	0.72	0.8	1.0		0.36	0.55	0.04	-0.02	0.74	MAERSK-A
ORSTED	-0.5	0.69	0.71	0.33	0.36		0.75	0.46	-0.08	0.66	ORSTED
VWS	-0.75	0.83	0.89	0.52	0.55	0.75		0.3	0.04	0.78	VWS
GMAB	0.18	0.21	0.23	0.02	0.04	0.46	0.3		-0.3	0.24	GMAB
COLO-B	-0.3	0.12	0.14	-0.03	-0.02	-0.08	0.04	-0.3		0.21	COLO-B
CARL-B	-0.63	0.9	0.9	0.71	0.74	0.66	0.78	0.24	0.21		CARL-B
	NOVO-B	NDA-DK	DSV	MAERSK-B	MAERSK-A	ORSTED	VWS	GMAB	COLO-B	CARL-B

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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

MAERSK-A	+ 1.0	MAERSK-B
DSV	+ 0.93	NDA-DK
CARL-B	+ 0.9	NDA-DK
CARL-B	+ 0.9	DSV
VWS	+ 0.89	DSV
VWS	+ 0.83	NDA-DK

High negative correlations

VWS	- 0.75	NOVO-B
NDA-DK	- 0.72	NOVO-B
DSV	- 0.68	NOVO-B
CARL-B	- 0.63	NOVO-B
ORSTED	- 0.5	NOVO-B
MAERSK-A	- 0.38	NOVO-B

Risk-Adjusted Indicators

There is a big difference between Multi Stock performing well and Multi Manager 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 Multi Manager'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
NOVO-B	2.23	(0.20)	0.00	(0.21)	0.00	0.00	5.01	(4.49)	12.73
NDA-DK	0.83	0.19	0.10	1.01	0.93	(0.87)	1.85	(1.87)	6.18
DSV	1.34	0.23	0.14	0.37	1.25	(1.58)	2.88	(2.50)	10.72
MAERSK-B	1.41	0.11	0.05	0.21	1.74	(1.50)	2.64	(2.88)	7.90
MAERSK-A	1.33	0.11	0.05	0.22	1.71	(1.33)	2.33	(2.95)	6.96
ORSTED	1.63	0.07	0.00	44.61	2.61	(1.81)	3.46	(2.82)	18.36
VWS	1.89	0.56	0.21	0.98	1.97	(1.98)	4.21	(3.60)	19.98
GMAB	1.50	0.24	0.10	(15.99)	1.52	(1.79)	3.06	(2.62)	10.39
COLO-B	1.05	(0.08)	0.00	(0.16)	0.00	0.00	2.47	(2.13)	8.11
CARL-B	0.84	0.13	0.07	1.21	0.84	(0.91)	1.90	(1.61)	4.82

Be your own money manager

Our tools can tell you how much better you can do entering a position in Multi Manager 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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