RWE AG Correlations

RWE Stock

EUR 35.60 0.20 0.56%

The current 90-days correlation between RWE AG and Sun Life Financial is -0.12 (i.e., Good diversification). The correlation of RWE AG 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.

RWE AG Correlation With Market

Good diversification

The correlation between RWE AG 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 RWE AG and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with RWE Stock

0.62	IBE1	Iberdrola SA Earnings Call This Week	Pair Corr
0.76	GZF	Engie SA	Pair Corr
0.77	GZFB	ENGIE ADR1 EO	Pair Corr
0.62	ADH2	Air Canada Earnings Call This Week	Pair Corr
0.63	HEI	Heidelberg Materials	Pair Corr

Moving against RWE Stock

0.8	CXT	Carmat SA	Pair Corr
0.52	SE4	Sempra	Pair Corr
0.37	ALV	Allianz SE	Pair Corr
0.35	VOL4	VOLVO B UNSPADR	Pair Corr
0.32	DBPD	Xtrackers ShortDAX	Pair Corr

Related Correlations Analysis

	LIE	CAI	0VF	CEK	BKHT	8QC	PNP	CCJ
LIE		0.66	0.44	-0.07	-0.34	0.23	0.51	0.78	LIE
CAI	0.66		0.74	-0.11	-0.68	0.83	0.93	0.57	CAI
0VF	0.44	0.74		0.16	-0.51	0.65	0.79	0.57	0VF
CEK	-0.07	-0.11	0.16		0.38	-0.23	-0.01	0.19	CEK
BKHT	-0.34	-0.68	-0.51	0.38		-0.68	-0.66	-0.14	BKHT
8QC	0.23	0.83	0.65	-0.23	-0.68		0.84	0.16	8QC
PNP	0.51	0.93	0.79	-0.01	-0.66	0.84		0.54	PNP
CCJ	0.78	0.57	0.57	0.19	-0.14	0.16	0.54		CCJ
	LIE	CAI	0VF	CEK	BKHT	8QC	PNP	CCJ

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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

PNP	+ 0.93	CAI
PNP	+ 0.84	8QC
8QC	+ 0.83	CAI
PNP	+ 0.79	0VF
CCJ	+ 0.78	LIE
0VF	+ 0.74	CAI

High negative correlations

8QC	- 0.68	BKHT
BKHT	- 0.68	CAI
PNP	- 0.66	BKHT
BKHT	- 0.51	0VF
BKHT	- 0.34	LIE
8QC	- 0.23	CEK

Risk-Adjusted Indicators

There is a big difference between RWE Stock performing well and RWE AG 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 RWE AG'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
LIE	0.68	0.10	(0.01)	1.32	0.85	(1.06)	1.22	(0.94)	6.49
CAI	0.62	0.31	0.27	(3.08)	0.00	(0.77)	1.66	(0.93)	3.63
0VF	1.30	0.25	0.04	(0.57)	1.65	(1.48)	3.30	(2.68)	10.59
CEK	3.26	0.04	(0.03)	(0.08)	3.49	(3.86)	6.48	(5.40)	29.64
BKHT	2.70	(0.21)	0.00	1.28	0.00	0.00	5.05	(4.74)	16.63
8QC	0.90	0.25	0.11	12.18	0.75	(1.00)	2.36	(1.72)	4.54
PNP	1.39	0.37	0.13	(1.86)	1.19	(1.88)	3.47	(2.25)	9.33
CCJ	1.02	0.14	0.01	5.97	1.06	(1.08)	2.46	(2.11)	7.09

Be your own money manager

Our tools can tell you how much better you can do entering a position in RWE AG 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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RWE AG Corporate Management

Elected by the shareholders, the RWE AG's board of directors comprises two types of representatives: RWE AG inside directors who are chosen from within the company, and outside directors, selected externally and held independent of RWE. The board's role is to monitor RWE AG's management team and ensure that shareholders' interests are well served. RWE AG's inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, RWE AG's outside directors are responsible for providing unbiased perspectives on the board's policies.

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Zvezdana Seeger	Chief Board	Profile
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