Handelsinvest Nordamerika Related Correlations

Stocks . Denmark . 
Stock . Handelsinvest Nordamerika
HAINAM Stock  DKK 241.00  2.25  0.94%   
Generate correlation matrix for Handelsinvest Nordamerika and other related equities to check the degree to which Handelsinvest Nordamerika price movement is correlated to its related entities. Use comma (,) to separate each symbol. If not specified, the peers will be provided automatically based on Macroaxis sector classification standards for Handelsinvest Nordamerika. To filter out specific equities, please toggle its corresponding legend item. Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in Handelsinvest Nordamerika. Also, note that the market value of any company could be tightly coupled with the direction of predictive economic indicators such as signals in nation.
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Please note, there is a significant difference between Handelsinvest Nordamerika's value and its price as these two are different measures arrived at by different means. Investors typically determine if Handelsinvest Nordamerika is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Handelsinvest Nordamerika's price is the amount at which it trades on the open market and represents the number that a seller and buyer find agreeable to each party.

Correlations

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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   
MAERSK-A
+ 0.98
MAERSK-B
COLO-B
+ 0.92
NOVO-B
MAERSK-A
+ 0.89
DSV
MAERSK-B
+ 0.88
DSV
GMAB
+ 0.72
NOVO-B
COLO-B
+ 0.72
GMAB
  
High negative correlations   
COLO-B
- 0.96
MAERSK-A
COLO-B
- 0.96
MAERSK-B
MAERSK-B
- 0.92
NOVO-B
COLO-B
- 0.89
DSV
MAERSK-A
- 0.89
NOVO-B
DSV
- 0.85
NOVO-B

Risk-Adjusted Indicators

There is a big difference between Handelsinvest Stock performing well and Handelsinvest Nordamerika 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 Handelsinvest Nordamerika'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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
NOVO-B  1.31  0.27  0.17  1.07  1.06 
(1.52)
 3.56 
(1.86)
 10.55 
NDA-DK  1.06  0.02 (0.04)(0.02) 1.91 
(0.91)
 1.70 
(2.38)
 7.45 
DSV  0.97 (0.28) 0.00  4.43  0.00 
 0.00 
 1.69 
(2.28)
 5.34 
MAERSK-B  1.80 (0.35) 0.00  1.09  0.00 
 0.00 
 2.83 
(3.36)
 17.69 
MAERSK-A  1.61 (0.27) 0.00  0.87  0.00 
 0.00 
 2.74 
(2.81)
 17.58 
ORSTED  1.80 (0.01)(0.04) 0.20  2.21 
(1.70)
 3.76 
(3.28)
 9.31 
VWS  1.36 (0.08) 0.00 (0.16) 0.00 
 0.00 
 2.91 
(2.97)
 9.89 
GMAB  1.38  0.04 (0.05) 0.00  1.68 
(1.53)
 2.95 
(2.80)
 9.79 
COLO-B  1.03  0.22  0.14  0.58  0.96 
(1.13)
 1.88 
(2.05)
 12.51 
CARL-B  0.81  0.09  0.02  0.65  0.89 
(0.94)
 2.20 
(1.59)
 7.20 
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