Saipem SpA Correlations

SAPMF Stock

USD 2.62 0.03 1.16%

The current 90-days correlation between Saipem SpA and Worley Parsons is 0.09 (i.e., Significant diversification). The correlation of Saipem SpA 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.

Saipem SpA Correlation With Market

Modest diversification

The correlation between Saipem SpA and DJI is 0.27 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Saipem SpA and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Saipem Pink Sheet

0.83	FTI	TechnipFMC PLC	Pair Corr
0.61	PPERY	Bank Mandiri Persero	Pair Corr
0.64	BKRKF	PT Bank Rakyat	Pair Corr
0.76	TLK	Telkom Indonesia Tbk	Pair Corr
0.62	PTAIY	Astra International Tbk	Pair Corr
0.81	PBCRF	PT Bank Central	Pair Corr
0.77	CSTM	Constellium Nv	Pair Corr
0.7	VOD	Vodafone Group PLC	Pair Corr
0.86	FCO	Aberdeen Global IF	Pair Corr
0.84	LMFA	LM Funding America	Pair Corr

Moving against Saipem Pink Sheet

0.61	FI	Fiserv,	Pair Corr
0.32	PTAIF	PT Astra International	Pair Corr

Related Correlations Analysis

	WYGPY	POFCY	SUBCY	SMGI	NSFDF	DWSN	CAWLF	CFWFF	MRC	DNOW
WYGPY		-0.1	0.0	0.01	0.01	0.65	0.0	0.65	0.36	0.31	WYGPY
POFCY	-0.1		0.0	0.4	0.79	0.05	0.0	-0.42	0.72	-0.43	POFCY
SUBCY	0.0	0.0		0.0	0.0	0.0	0.0	0.0	0.0	0.0	SUBCY
SMGI	0.01	0.4	0.0		0.54	0.09	0.0	-0.15	0.27	-0.37	SMGI
NSFDF	0.01	0.79	0.0	0.54		0.17	0.0	-0.41	0.62	-0.49	NSFDF
DWSN	0.65	0.05	0.0	0.09	0.17		0.0	0.36	0.43	0.04	DWSN
CAWLF	0.0	0.0	0.0	0.0	0.0	0.0		0.0	0.0	0.0	CAWLF
CFWFF	0.65	-0.42	0.0	-0.15	-0.41	0.36	0.0		0.09	0.62	CFWFF
MRC	0.36	0.72	0.0	0.27	0.62	0.43	0.0	0.09		0.01	MRC
DNOW	0.31	-0.43	0.0	-0.37	-0.49	0.04	0.0	0.62	0.01		DNOW
	WYGPY	POFCY	SUBCY	SMGI	NSFDF	DWSN	CAWLF	CFWFF	MRC	DNOW

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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

NSFDF	+ 0.79	POFCY
MRC	+ 0.72	POFCY
DWSN	+ 0.65	WYGPY
CFWFF	+ 0.65	WYGPY
MRC	+ 0.62	NSFDF
DNOW	+ 0.62	CFWFF

High negative correlations

DNOW	- 0.49	NSFDF
DNOW	- 0.43	POFCY
CFWFF	- 0.42	POFCY
CFWFF	- 0.41	NSFDF
DNOW	- 0.37	SMGI
CFWFF	- 0.15	SMGI

Risk-Adjusted Indicators

There is a big difference between Saipem Pink Sheet performing well and Saipem SpA 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 Saipem SpA'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
WYGPY	3.12	(0.07)	0.00	(0.28)	0.00	0.00	9.31	(7.72)	22.81
POFCY	11.57	4.54	0.00	3.15	0.00	0.00	33.33	(25.00)	300.00
SUBCY	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
SMGI	4.94	1.83	0.00	47.08	0.00	0.00	0.00	0.00	100.00
NSFDF	6.46	1.44	0.15	1.67	5.52	(13.98)	23.81	(12.00)	72.59
DWSN	3.07	(0.12)	0.00	(0.26)	0.00	0.00	6.67	(5.63)	21.20
CAWLF	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
CFWFF	1.65	(0.03)	0.00	(0.04)	0.00	0.00	4.90	(5.73)	19.64
MRC	2.01	0.20	0.07	0.16	2.65	(2.21)	5.96	(3.67)	15.36
DNOW	2.00	0.00	0.00	(0.01)	3.04	(1.94)	3.63	(4.10)	18.98

Be your own money manager

Our tools can tell you how much better you can do entering a position in Saipem SpA 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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Saipem SpA Corporate Management

Luigi Siri	Head of Internal Audit	Profile
Francesco Racheli	Chief Division	Profile
Alessandro Puliti	CEO, COO	Profile
Davide Ruvolo	Strategies And M&A	Profile
Paolo Calcagnini	Chief CFO	Profile
Marco Toninelli	Chief Divisions	Profile

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