WOLFDEN RES Correlations

WRC Stock

EUR 0.04 0 8.75%

The current 90-days correlation between WOLFDEN RES P and bet at home AG is -0.11 (i.e., Good diversification). The correlation of WOLFDEN RES 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.

WOLFDEN RES Correlation With Market

Very good diversification

The correlation between WOLFDEN RES P and DJI is -0.29 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding WOLFDEN RES P and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with WOLFDEN Stock

0.62	W2F	STRAITS TRADG SD	Pair Corr
0.68	3FN	Adriatic Metals Plc	Pair Corr
0.65	HEI	Heidelberg Materials	Pair Corr

Moving against WOLFDEN Stock

0.56	CRA1	Rio Tinto Group	Pair Corr
0.52	NGLB	Anglo American plc Split	Pair Corr
0.4	NE0	NEXA RESOURCES SA	Pair Corr
0.31	DBPD	Xtrackers ShortDAX	Pair Corr

Related Correlations Analysis

	5QV	ACX	690D	4MI	EZM	IBU	2FB	NWL
5QV		0.15	0.37	0.35	0.72	0.32	-0.05	0.31	5QV
ACX	0.15		0.81	0.0	0.6	0.62	-0.25	0.56	ACX
690D	0.37	0.81		0.28	0.83	0.62	-0.09	0.71	690D
4MI	0.35	0.0	0.28		0.5	0.26	0.63	0.59	4MI
EZM	0.72	0.6	0.83	0.5		0.65	0.0	0.7	EZM
IBU	0.32	0.62	0.62	0.26	0.65		-0.15	0.44	IBU
2FB	-0.05	-0.25	-0.09	0.63	0.0	-0.15		0.45	2FB
NWL	0.31	0.56	0.71	0.59	0.7	0.44	0.45		NWL
	5QV	ACX	690D	4MI	EZM	IBU	2FB	NWL

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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

EZM	+ 0.83	690D
690D	+ 0.81	ACX
EZM	+ 0.72	5QV
NWL	+ 0.71	690D
NWL	+ 0.7	EZM
IBU	+ 0.65	EZM

High negative correlations

2FB	- 0.25	ACX
2FB	- 0.15	IBU
2FB	- 0.09	690D
2FB	- 0.05	5QV
2FB	- 0.0	EZM
4MI	- 0.0	ACX

Risk-Adjusted Indicators

There is a big difference between WOLFDEN Stock performing well and WOLFDEN RES 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 WOLFDEN RES'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
5QV	1.45	0.37	0.09	(1.07)	1.79	(1.60)	3.42	(2.15)	9.97
ACX	2.20	0.06	0.02	0.19	2.67	(2.90)	4.21	(5.50)	35.22
690D	0.93	0.22	0.04	(1.08)	0.92	(1.39)	2.48	(1.61)	8.71
4MI	1.84	0.19	(0.01)	(0.15)	2.08	(1.90)	4.08	(3.12)	11.57
EZM	1.68	0.60	0.20	(8.89)	1.59	(1.87)	6.15	(3.02)	14.23
IBU	2.35	0.78	0.17	(0.58)	1.91	(3.69)	5.33	(4.14)	17.06
2FB	1.95	0.12	(0.02)	(0.20)	2.44	(2.16)	4.43	(3.60)	16.86
NWL	2.69	0.31	0.04	(0.35)	2.60	(3.20)	7.20	(4.46)	19.52

Be your own money manager

Our tools can tell you how much better you can do entering a position in WOLFDEN RES 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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