Tenaris SA Correlations

TW1 Stock

EUR 31.20 0.40 1.27%

The current 90-days correlation between Tenaris SA and KCE Electronics Public is 0.03 (i.e., Significant diversification). The correlation of Tenaris 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.

Tenaris SA Correlation With Market

Significant diversification

The correlation between Tenaris SA and DJI is 0.02 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Tenaris SA and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to Tenaris 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 Tenaris 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 Tenaris 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 Tenaris SA to buy it.

Moving together with Tenaris Stock

0.72	68V	Baker Hughes Earnings Call This Week	Pair Corr
0.82	CO9	China Oilfield Services	Pair Corr
0.69	NO8	NOV Inc	Pair Corr
0.77	1T1	TechnipFMC PLC Earnings Call This Week	Pair Corr
0.82	0ZQ	JSC National Atomic	Pair Corr
0.81	ROM	ROHM Co	Pair Corr
0.68	AG8	AGILENT TECH	Pair Corr
0.78	JOT	ELEKTROBIT	Pair Corr
0.64	F1YN	Lundin Gold	Pair Corr
0.78	FA2	FORWARD AIR P	Pair Corr

Moving against Tenaris Stock

0.88	BRH	Berkshire Hathaway	Pair Corr
0.63	N9B	BANDAI NAMCO Holdings	Pair Corr
0.51	HYB	HOYA	Pair Corr
0.44	ALV	Allianz SE	Pair Corr
0.32	DBPD	Xtrackers ShortDAX	Pair Corr

Related Correlations Analysis

	RE3	6E6	SSUN	DT8A	7TT	LGLG	BJI	NVPA
RE3		0.55	0.71	0.87	0.71	0.55	0.6	0.71	RE3
6E6	0.55		0.59	0.62	0.7	0.73	0.58	0.32	6E6
SSUN	0.71	0.59		0.54	0.84	0.55	0.63	0.7	SSUN
DT8A	0.87	0.62	0.54		0.67	0.59	0.65	0.52	DT8A
7TT	0.71	0.7	0.84	0.67		0.67	0.74	0.54	7TT
LGLG	0.55	0.73	0.55	0.59	0.67		0.46	0.44	LGLG
BJI	0.6	0.58	0.63	0.65	0.74	0.46		0.51	BJI
NVPA	0.71	0.32	0.7	0.52	0.54	0.44	0.51		NVPA
	RE3	6E6	SSUN	DT8A	7TT	LGLG	BJI	NVPA

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Risk-Adjusted Indicators

There is a big difference between Tenaris Stock performing well and Tenaris 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 Tenaris 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.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
RE3	1.70	0.24	0.05	(4.43)	1.90	(1.84)	3.92	(3.23)	9.71
6E6	3.22	0.33	0.06	0.82	3.29	(5.02)	9.80	(5.21)	27.85
SSUN	1.53	0.14	0.05	0.37	1.61	(1.80)	4.03	(2.87)	8.32
DT8A	1.41	0.25	0.08	8.02	1.24	(1.76)	3.10	(2.31)	7.44
7TT	1.57	0.40	0.12	1.00	1.69	(2.13)	4.10	(3.28)	12.30
LGLG	2.05	0.23	0.02	(0.65)	2.64	(2.80)	5.31	(5.22)	13.52
BJI	2.17	0.34	0.04	1.54	2.39	(5.90)	5.26	(5.00)	20.46
NVPA	0.99	0.45	0.00	(13.68)	0.00	0.00	4.44	0.00	9.04

Be your own money manager

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

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

Marcelo Ramos	Chief Officer	Profile
Renato Catallini	Pres Brazil	Profile
Alejandro Lammertyn	Chief Officer	Profile
Luis Scartascini	Chief Officer	Profile
Paolo Rocca	Chairman CEO	Profile
Giovanni Sardagna	Investor Director	Profile
Alicia Mondolo	Chief Officer	Profile

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