SGL CARBON Related Correlations

Generate correlation matrix for SGL CARBON and other related equities to check the degree to which SGL CARBON SE 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 SGL CARBON SE. To filter out specific equities, please toggle its corresponding legend item. Check out World Market Map.
Please note, there is a significant difference between SGL CARBON's value and its price as these two are different measures arrived at by different means. Investors typically determine SGL CARBON value by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, SGL CARBON'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.

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Correlations

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Correlation Matchups

The Correlation Coefficient is a useful tool to identify correlated or non-correlated securities, which is essential in developing a diversified portfolio. It tells us the relationship between two positions you have in your portfolio or considering acquiring. Over a given time period, the two securities movetogether 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   
1COV
CE2
EVK
CE2
2HRA
CE2
SY1
CE2
ELF1
CE2
DBPE
CE2
Insignificant correlation   
1COV
CE2
EVK
CE2
2HRA
CE2
DBPD
C005
DBPD
DBPE
C005
DBPE
High negative correlations   
DBPD
C005
DBPD
DBPE
C005
DBPE
DBPD
ELF1
C005
ELF1
DBPE
ELF1

SGL CARBON Competition Risk-Adjusted Indicators

Nowadays, there is a big difference between SGL CARBON stock performing well and SGL CARBON company doing well compared to the competition. There are way too many exceptions to the normal that investors can tell for sure what's good or bad unless they analyze SGL CARBON's multiple risk-adjusted performance indicators. These indicators are quantitative in nature and help investors forecast volatility and risk-adjusted expected returns across various positions.