Revoil SA Correlations

REVOIL Stock  EUR 1.70  0.03  1.73%   
The current 90-days correlation between Revoil SA and Elton International Trading is -0.18 (i.e., Good diversification). The correlation of Revoil SA 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.

Revoil SA Correlation With Market

Significant diversification

The correlation between Revoil SA and DJI is 0.06 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Revoil SA and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to Revoil SA could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Revoil SA 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 Revoil SA - 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 Revoil SA to buy it.

Moving together with Revoil Stock

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  0.75KRI Kri Kri MilkPairCorr
  0.76ASCO As Commercial IndustrialPairCorr
  0.7MYTIL Mytilineos SAPairCorr
  0.71VIO Viohalco SAPairCorr
  0.77LAMPS Lampsa Hellenic HotelsPairCorr
  0.62AVE AVE SAPairCorr
  0.72PPC Public PowerPairCorr
  0.76REALCONS Real Consulting ITPairCorr
  0.73ELPE Hellenic PetroleumPairCorr
  0.71KTILA Ktima Kostas LazaridisPairCorr

Moving against Revoil Stock

  0.59SPIR The HousePairCorr

Related Correlations Analysis

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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   
PROFOPTIMA
PROFGEBKA
OPTIMAGEBKA
MIGINLIF
MIGELTON
OPTIMAELTON
  
High negative correlations   
CPIINLIF

Risk-Adjusted Indicators

There is a big difference between Revoil Stock performing well and Revoil SA 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 Revoil SA'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.

Be your own money manager

Our tools can tell you how much better you can do entering a position in Revoil SA 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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