VONOVIA SE Correlations

Stocks . Germany . 
Stock . VONOVIA SE ADR
VNAA Stock  EUR 14.40  0.30  2.04%   
The current 90-days correlation between VONOVIA SE ADR and TAL Education Group is -0.07 (i.e., Good diversification). The correlation of VONOVIA SE 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.

VONOVIA SE Correlation With Market

Good diversification

The correlation between VONOVIA SE ADR and DJI is -0.07 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding VONOVIA SE ADR and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to VONOVIA SE could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace VONOVIA SE 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 VONOVIA SE - 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 VONOVIA SE ADR to buy it.

Moving together with VONOVIA Stock

  0.66RF6 CBRE Group ClassPairCorr
  0.94VNA Vonovia SEPairCorr
  0.94VNA Vonovia SEPairCorr
  0.76HLD Henderson Land DevelPairCorr
  0.754WF Wharf Real EstatePairCorr
  0.82SW9 Swire PropertiesPairCorr
  0.8OS3 Otello ASAPairCorr
  0.74SII Wheaton Precious MetalsPairCorr
  0.73M0G FIREWEED METALS P Earnings Call TomorrowPairCorr
  0.67ZVL Zhaojin Mining IndustryPairCorr
  0.72TLK Toll BrothersPairCorr
  0.77KGHA KGHM Polska MiedzPairCorr
  0.691NN Neinor Homes SAPairCorr
  0.66DBPE Xtrackers LevDAXPairCorr
  0.79E908 Lyxor 1PairCorr

Moving against VONOVIA Stock

  0.77DBPD Xtrackers ShortDAXPairCorr

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   
51A
+ 0.85
CE1
51A
+ 0.75
XYD
XYD
+ 0.74
CE1
GKD
+ 0.73
CE1
51A
+ 0.68
GKD
GKD
+ 0.4
3EAG
  
High negative correlations   
XYD
- 0.38
3EAG
51A
- 0.27
3EAG
3EAG
- 0.16
CE1
51A
- 0.0
EUH
EUH
- 0.0
GKD
EUH
- 0.0
XYD

Risk-Adjusted Indicators

There is a big difference between VONOVIA Stock performing well and VONOVIA SE 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 VONOVIA SE'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 VONOVIA SE 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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