Elisa Oyj Correlations
| ELMUY Stock | USD 23.74 0.00 0.00% |
The correlation of Elisa Oyj 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 perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Elisa Oyj moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Elisa Oyj moves in either direction, the perfectly negatively correlated security will move in the opposite direction. If the correlation is 0, the equities are not correlated; they are entirely random. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.
Good diversification
The correlation between Elisa Oyj and NYA is -0.04 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Elisa Oyj and NYA in the same portfolio, assuming nothing else is changed.
Elisa |
The ability to find closely correlated positions to Elisa Oyj could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Elisa Oyj 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 Elisa Oyj - 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 Elisa Oyj to buy it.
Moving against Elisa OTC Stock
| 0.53 | KO | Coca Cola Financial Report 24th of July 2024 | PairCorr |
| 0.53 | PG | Procter Gamble Financial Report 26th of July 2024 | PairCorr |
Related Correlations Analysis
| -0.15 | 0.5 | 0.02 | 0.52 | 0.71 | MSFT | ||
| -0.15 | -0.74 | -0.38 | -0.6 | -0.43 | AAPL | ||
| 0.5 | -0.74 | 0.27 | 0.76 | 0.59 | NVDA | ||
| 0.02 | -0.38 | 0.27 | 0.57 | -0.13 | GOOG | ||
| 0.52 | -0.6 | 0.76 | 0.57 | 0.62 | AMZN | ||
| 0.71 | -0.43 | 0.59 | -0.13 | 0.62 | META | ||
| Click cells to compare fundamentals | Check Volatility | Backtest Portfolio |
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
| High negative correlations
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Risk-Adjusted Indicators
There is a big difference between Elisa OTC Stock performing well and Elisa Oyj OTC Stock 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 Elisa Oyj'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| MSFT | 1.04 | (0.04) | (0.03) | 0.03 | 1.21 | 2.22 | 5.87 | |||
| AAPL | 1.09 | (0.05) | (0.06) | (0.01) | 1.28 | 2.20 | 6.51 | |||
| NVDA | 2.63 | 0.48 | 0.17 | 0.32 | 2.70 | 4.97 | 26.40 | |||
| GOOG | 1.31 | 0.24 | 0.11 | 0.49 | 1.64 | 2.54 | 13.30 | |||
| AMZN | 1.30 | 0.19 | 0.15 | 0.22 | 1.15 | 3.20 | 11.16 | |||
| META | 1.91 | 0.18 | 0.08 | 0.20 | 2.33 | 3.27 | 30.88 |
Elisa Oyj Related Equities
One of the popular trading techniques among algorithmic traders is to use market-neutral strategies where every trade hedges away some risk. Because there are two separate transactions required, even if one position performs unexpectedly, the other equity can make up some of the losses. Below are some of the equities that can be combined with Elisa Oyj otc stock to make a market-neutral strategy. Peer analysis of Elisa Oyj could also be used in its relative valuation, which is a method of valuing Elisa Oyj by comparing valuation metrics with similar companies.
| Risk & Return | Correlation |
Elisa Oyj Corporate Management
Elected by the shareholders, the Elisa Oyj's board of directors comprises two types of representatives: Elisa Oyj inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Elisa. The board's role is to monitor Elisa Oyj's management team and ensure that shareholders' interests are well served. Elisa Oyj'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, Elisa Oyj's outside directors are responsible for providing unbiased perspectives on the board's policies.
| Sami LLM | Exec Board | Profile | |
| Sami Komulainen | Exec Board | Profile | |
| Antti MSc | Exec Board | Profile | |
| MBA M | Exec Board | Profile |
Already Invested in Elisa Oyj?
The danger of trading Elisa Oyj is mainly related to its market volatility and OTC Stock specific events. As an investor, you must understand the concept of risk-adjusted return before you start trading. The most common way to measure the risk of Elisa Oyj is by using the Sharpe ratio. The ratio expresses how much excess return you acquire for the extra volatility you endure for holding a more risker asset than Elisa Oyj. The Sharpe ratio is calculated by using standard deviation and excess return to determine reward per unit of risk. To understand how volatile Elisa Oyj is, you must compare it to a benchmark. Traditionally, the risk-free rate of return is the rate of return on the shortest-dated U.S. Treasury, such as a 3-year bond.
Check out Investing Opportunities to better understand how to build diversified portfolios. Also, note that the market value of any otc stock could be tightly coupled with the direction of predictive economic indicators such as signals in employment. You can also try the Headlines Timeline module to stay connected to all market stories and filter out noise. Drill down to analyze hype elasticity.
Complementary Tools for Elisa OTC Stock analysis
When running Elisa Oyj's price analysis, check to measure Elisa Oyj's market volatility, profitability, liquidity, solvency, efficiency, growth potential, financial leverage, and other vital indicators. We have many different tools that can be utilized to determine how healthy Elisa Oyj is operating at the current time. Most of Elisa Oyj's value examination focuses on studying past and present price action to predict the probability of Elisa Oyj's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Elisa Oyj's price. Additionally, you may evaluate how the addition of Elisa Oyj to your portfolios can decrease your overall portfolio volatility.
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