Vestas Wind Correlations

VWSB Stock

EUR 15.98 1.91 13.57%

The current 90-days correlation between Vestas Wind Systems and Rogers Communications is 0.15 (i.e., Average diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Vestas Wind moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Vestas Wind Systems moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Vestas Wind Correlation With Market

Significant diversification

The correlation between Vestas Wind Systems and DJI is 0.03 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Vestas Wind Systems and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Vestas Stock

0.81	MSF	Microsoft	Pair Corr
0.81	MSF	Microsoft	Pair Corr
0.81	MSF	Microsoft	Pair Corr
0.82	MSF	Microsoft	Pair Corr
0.71	KBIA	KB Financial Group Earnings Call This Week	Pair Corr
0.68	OIX	ORIX	Pair Corr
0.69	OIXA	Orix Corp Ads	Pair Corr
0.65	W8V	Bank of China	Pair Corr
0.8	E908	Lyxor 1	Pair Corr
0.76	DBPE	Xtrackers LevDAX	Pair Corr

Moving against Vestas Stock

0.76	DBPD	Xtrackers ShortDAX	Pair Corr
0.55	TKDA	Takeda Pharmaceutical	Pair Corr

Related Correlations Analysis

	NU42	WI8	OGM1	CM2	RCIB	SIT4	E4C
NU42		0.36	-0.42	0.46	0.63	0.22	0.25	NU42
WI8	0.36		-0.51	0.6	0.56	0.64	0.72	WI8
OGM1	-0.42	-0.51		-0.37	-0.26	-0.36	-0.13	OGM1
CM2	0.46	0.6	-0.37		0.65	0.59	0.63	CM2
RCIB	0.63	0.56	-0.26	0.65		0.46	0.55	RCIB
SIT4	0.22	0.64	-0.36	0.59	0.46		0.42	SIT4
E4C	0.25	0.72	-0.13	0.63	0.55	0.42		E4C
	NU42	WI8	OGM1	CM2	RCIB	SIT4	E4C

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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

E4C	+ 0.72	WI8
RCIB	+ 0.65	CM2
SIT4	+ 0.64	WI8
RCIB	+ 0.63	NU42
E4C	+ 0.63	CM2
CM2	+ 0.6	WI8

High negative correlations

OGM1	- 0.51	WI8
OGM1	- 0.42	NU42
CM2	- 0.37	OGM1
SIT4	- 0.36	OGM1
RCIB	- 0.26	OGM1
E4C	- 0.13	OGM1

Risk-Adjusted Indicators

There is a big difference between Vestas Stock performing well and Vestas Wind 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 Vestas Wind'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
NU42	2.68	0.14	0.02	0.36	3.53	(2.99)	7.45	(4.37)	18.53
WI8	0.90	0.19	0.06	2.41	0.82	(1.04)	2.39	(1.56)	7.38
OGM1	1.96	(0.03)	(0.04)	0.03	2.58	(2.25)	3.37	(3.93)	12.50
CM2	1.55	0.18	0.02	(1.20)	1.76	(1.77)	3.89	(3.10)	10.69
RCIB	1.14	0.46	0.24	5.66	0.69	(1.66)	2.94	(1.75)	6.93
SIT4	1.57	0.27	0.06	(1.55)	1.76	(1.83)	3.94	(3.46)	9.36
E4C	0.97	0.14	0.01	10.86	1.17	(1.75)	2.38	(1.56)	11.95

Be your own money manager

Our tools can tell you how much better you can do entering a position in Vestas Wind 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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