MIRAMAR HOTEL Correlations

MRL Stock

EUR 1.08 0.01 0.93%

The current 90-days correlation between MIRAMAR HOTEL INV and CLEAN ENERGY FUELS is 0.15 (i.e., Average diversification). The correlation of MIRAMAR HOTEL 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.

MIRAMAR HOTEL Correlation With Market

Significant diversification

The correlation between MIRAMAR HOTEL INV and DJI is 0.07 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding MIRAMAR HOTEL INV and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with MIRAMAR Stock

0.71	MSF	Microsoft	Pair Corr
0.7	MSF	Microsoft	Pair Corr
0.71	MSF	Microsoft	Pair Corr
0.71	MSF	Microsoft	Pair Corr
0.71	MSF	Microsoft	Pair Corr
0.72	AMZ	Amazon Inc	Pair Corr
0.77	MTO	METTLER TOLEDO INTL	Pair Corr
0.75	MTO	METTLER TOLEDO INTL	Pair Corr
0.77	MTO	Mitie Group PLC	Pair Corr
0.85	27J	Impinj Inc	Pair Corr
0.83	27J	Impinj Inc	Pair Corr
0.63	ADH2	Air Canada	Pair Corr
0.64	SH7	HELIOS TECHS INC	Pair Corr
0.72	E908	Lyxor 1	Pair Corr
0.76	DBPE	Xtrackers LevDAX	Pair Corr

Moving against MIRAMAR Stock

0.75

DBPD

Xtrackers ShortDAX

Pair Corr

Related Correlations Analysis

	WIQ	WIQ	63U	TMD0	UCE	PB8	DDX	BVF
WIQ		0.98	0.17	0.61	0.58	0.91	0.0	0.34	WIQ
WIQ	0.98		0.21	0.63	0.59	0.92	0.0	0.33	WIQ
63U	0.17	0.21		0.3	0.07	0.19	0.0	-0.14	63U
TMD0	0.61	0.63	0.3		0.32	0.5	0.0	-0.16	TMD0
UCE	0.58	0.59	0.07	0.32		0.6	0.0	0.5	UCE
PB8	0.91	0.92	0.19	0.5	0.6		0.0	0.43	PB8
DDX	0.0	0.0	0.0	0.0	0.0	0.0		0.0	DDX
BVF	0.34	0.33	-0.14	-0.16	0.5	0.43	0.0		BVF
	WIQ	WIQ	63U	TMD0	UCE	PB8	DDX	BVF

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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

WIQ	+ 0.98	WIQ
PB8	+ 0.92	WIQ
PB8	+ 0.91	WIQ
TMD0	+ 0.63	WIQ
TMD0	+ 0.61	WIQ
PB8	+ 0.6	UCE

High negative correlations

BVF	- 0.16	TMD0
BVF	- 0.14	63U
BVF	- 0.0	DDX
DDX	- 0.0	PB8
DDX	- 0.0	UCE
DDX	- 0.0	TMD0

Risk-Adjusted Indicators

There is a big difference between MIRAMAR Stock performing well and MIRAMAR HOTEL 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 MIRAMAR HOTEL'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
WIQ	3.94	0.54	0.10	0.88	4.08	(4.66)	9.57	(6.75)	28.47
WIQ	3.60	0.36	0.09	0.53	3.88	(4.14)	8.02	(7.69)	27.72
63U	1.53	(0.15)	0.00	(0.17)	0.00	0.00	9.09	(8.33)	19.09
TMD0	2.92	0.59	0.06	(0.79)	2.67	(4.66)	9.84	(5.88)	20.08
UCE	3.08	0.36	0.06	1.02	3.41	(3.97)	7.93	(4.95)	24.38
PB8	2.64	0.62	0.10	(3.71)	2.92	(3.40)	7.63	(6.54)	20.06
DDX	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
BVF	3.16	0.24	0.03	0.76	4.16	(3.51)	8.33	(5.74)	23.94

Be your own money manager

Our tools can tell you how much better you can do entering a position in MIRAMAR HOTEL 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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