Thyssenkrupp Correlations

TKA1 Stock

EUR 11.00 0.40 3.51%

The current 90-days correlation between thyssenkrupp AG and BJs Wholesale Club is -0.1 (i.e., Good diversification). The correlation of Thyssenkrupp 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.

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

Moving together with Thyssenkrupp Stock

0.97	TKA	thyssenkrupp AG	Pair Corr
0.98	TKA	thyssenkrupp AG	Pair Corr
0.96	TKA1	thyssenkrupp AG	Pair Corr

Moving against Thyssenkrupp Stock

0.59	PQ9	BANK MANDIRI	Pair Corr
0.57	PQ9	BANK MANDIRI	Pair Corr
0.51	BZG2	BANK CENTRAL ASIA Earnings Call Today	Pair Corr
0.48	BYRA	BANK RAKYAT IND Earnings Call This Week	Pair Corr
0.48	BZG2	BANK CENTRAL ASIA Earnings Call Today	Pair Corr
0.42	BYRA	BANK RAKYAT IND Earnings Call This Week	Pair Corr
0.41	PQ9	PT Bank Mandiri	Pair Corr
0.37	BYRA	PT Bank Rakyat Earnings Call This Week	Pair Corr

Related Correlations Analysis

	HKU	S4M	AVK1	NEN	8BJ	3MJ	SSUN	3C3
HKU		-0.61	0.0	-0.08	0.61	-0.4	-0.58	-0.25	HKU
S4M	-0.61		0.0	0.38	-0.78	0.46	0.72	0.64	S4M
AVK1	0.0	0.0		0.0	0.0	0.0	0.0	0.0	AVK1
NEN	-0.08	0.38	0.0		-0.27	0.28	0.41	0.63	NEN
8BJ	0.61	-0.78	0.0	-0.27		-0.44	-0.84	-0.64	8BJ
3MJ	-0.4	0.46	0.0	0.28	-0.44		0.35	0.21	3MJ
SSUN	-0.58	0.72	0.0	0.41	-0.84	0.35		0.7	SSUN
3C3	-0.25	0.64	0.0	0.63	-0.64	0.21	0.7		3C3
	HKU	S4M	AVK1	NEN	8BJ	3MJ	SSUN	3C3

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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

SSUN	+ 0.72	S4M
3C3	+ 0.7	SSUN
3C3	+ 0.64	S4M
3C3	+ 0.63	NEN
8BJ	+ 0.61	HKU
3MJ	+ 0.46	S4M

High negative correlations

SSUN	- 0.84	8BJ
8BJ	- 0.78	S4M
3C3	- 0.64	8BJ
S4M	- 0.61	HKU
SSUN	- 0.58	HKU
3MJ	- 0.44	8BJ

Risk-Adjusted Indicators

There is a big difference between Thyssenkrupp Stock performing well and Thyssenkrupp 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 Thyssenkrupp'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
HKU	1.31	0.00	0.00	0.18	0.00	0.00	2.73	(3.17)	9.38
S4M	1.66	0.42	0.07	(1.40)	2.70	(1.69)	3.29	(4.39)	18.16
AVK1	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NEN	2.43	0.21	0.02	3.47	3.29	(2.59)	5.52	(4.46)	22.12
8BJ	1.41	(0.20)	0.00	1.16	0.00	0.00	2.60	(2.86)	10.77
3MJ	1.80	0.07	(0.03)	0.56	1.85	(2.40)	3.96	(3.67)	17.27
SSUN	1.52	0.21	0.07	0.54	1.59	(1.78)	4.03	(2.87)	8.32
3C3	1.74	0.56	0.27	3.96	1.01	(2.57)	3.97	(1.89)	29.61

Be your own money manager

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

Elected by the shareholders, the Thyssenkrupp's board of directors comprises two types of representatives: Thyssenkrupp inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Thyssenkrupp. The board's role is to monitor Thyssenkrupp's management team and ensure that shareholders' interests are well served. Thyssenkrupp'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, Thyssenkrupp's outside directors are responsible for providing unbiased perspectives on the board's policies.

Klaus Keysberg	CFO Board	Profile
Oliver Burkhard	Labor Officer	Profile
Martina Merz	CEO Board	Profile
Isolde Wurz	Head Counsel	Profile
Stefan Schmitt	Head Management	Profile
Maximilian Muggenhamer	Head Testing	Profile
Karsten Kroos	Chief Technology	Profile

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