Wizz Air Correlations

WZZAF Stock

USD 14.96 0.00 0.00%

The current 90-days correlation between Wizz Air Holdings and Copa Holdings SA is 0.11 (i.e., Average diversification). The correlation of Wizz Air 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.

Wizz Air Correlation With Market

Good diversification

The correlation between Wizz Air Holdings and DJI is -0.06 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Wizz Air Holdings and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Wizz Pink Sheet

0.71	907818DZ8	UNION PAC P	Pair Corr
0.79	030360AD3	US030360AD30	Pair Corr

Moving against Wizz Pink Sheet

0.79	PTAIF	PT Astra International Earnings Call This Week	Pair Corr
0.69	AIRYY	Air China	Pair Corr
0.56	RYAOF	Ryanair Holdings PLC	Pair Corr
0.46	TLK	Telkom Indonesia Tbk Earnings Call This Week	Pair Corr
0.44	LUV	Southwest Airlines Earnings Call Today	Pair Corr
0.42	DAL	Delta Air Lines	Pair Corr
0.42	AICAF	Air China Limited	Pair Corr
0.41	PTAIY	Astra International Tbk Earnings Call This Week	Pair Corr
0.38	RYAAY	Ryanair Holdings PLC	Pair Corr
0.38	CHEAF	China Eastern Airlines	Pair Corr
0.83	NUBC	Northumberland Bancorp	Pair Corr
0.77	AMPX	Amprius Technologies	Pair Corr
0.73	UPST	Upstart Holdings	Pair Corr
0.71	CNGKY	CK Asset Holdings	Pair Corr
0.63	00108WAF7	AEP TEX INC	Pair Corr
0.6	VALE	Vale SA ADR Aggressive Push	Pair Corr
0.57	TTMI	TTM Technologies Earnings Call This Week	Pair Corr
0.56	DFCO	Dalrada Financial Corp	Pair Corr
0.5	SQNS	Sequans Communications	Pair Corr
0.47	FERA	Fifth Era Acquisition	Pair Corr
0.34	PAPL	Pineapple Financial Earnings Call This Week	Pair Corr
0.77	LXRX	Lexicon Pharmaceuticals Earnings Call This Week	Pair Corr
0.76	IBTN	InsCorp	Pair Corr
0.7	TGB	Taseko Mines Earnings Call This Week	Pair Corr
0.68	4042Q1AD9	HSBC 7 15	Pair Corr
0.65	SCLX	Scilex Holding Trending	Pair Corr
0.57	UBS	UBS Group AG Normal Trading	Pair Corr

Related Correlations Analysis

	CPA	UAL	DAL	SKYW	ALGT	AAL	LUV	JBLU
CPA		0.82	0.83	0.88	0.79	0.83	0.9	0.43	CPA
UAL	0.82		0.96	0.97	0.64	0.93	0.94	0.37	UAL
DAL	0.83	0.96		0.97	0.68	0.96	0.95	0.39	DAL
SKYW	0.88	0.97	0.97		0.7	0.96	0.97	0.39	SKYW
ALGT	0.79	0.64	0.68	0.7		0.77	0.68	0.7	ALGT
AAL	0.83	0.93	0.96	0.96	0.77		0.93	0.55	AAL
LUV	0.9	0.94	0.95	0.97	0.68	0.93		0.41	LUV
JBLU	0.43	0.37	0.39	0.39	0.7	0.55	0.41		JBLU
	CPA	UAL	DAL	SKYW	ALGT	AAL	LUV	JBLU

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Risk-Adjusted Indicators

There is a big difference between Wizz Pink Sheet performing well and Wizz Air 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 Wizz Air'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
CPA	1.22	0.21	0.11	0.49	1.06	(1.38)	2.79	(1.99)	7.42
UAL	2.30	0.14	0.11	0.28	2.48	(2.48)	5.39	(4.37)	18.67
DAL	1.97	0.13	0.14	0.28	1.84	(2.35)	5.79	(4.13)	16.12
SKYW	1.48	0.15	0.16	0.31	1.10	(1.80)	3.14	(2.30)	7.95
ALGT	3.03	(0.30)	0.05	0.11	3.23	(3.60)	6.78	(6.95)	17.95
AAL	2.01	0.07	0.10	0.24	2.34	(2.16)	5.04	(4.12)	18.28
LUV	1.52	0.37	0.26	0.48	1.08	(1.73)	3.71	(2.52)	10.65
JBLU	2.84	(0.06)	0.06	0.18	2.91	(3.34)	7.40	(5.27)	17.82

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

Joel Goldberg	Chief Officer	Profile
Michael Delehant	Ex COO	Profile
Johan Eidhagen	Chief Marketing Officer	Profile
Zsuzsa Poos	Chief Officer	Profile
Robert Carey	President	Profile
Marion Geoffroy	Managing UK	Profile
Michael Berlouis	Managing Dhabi	Profile

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