LAir Liquide Correlations
AIQUF Stock | USD 194.48 0.09 0.05% |
The correlation of LAir Liquide 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 LAir Liquide moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if LAir Liquide SA 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.
Modest diversification
The correlation between LAir Liquide SA and NYA is 0.23 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding LAir Liquide SA and NYA in the same portfolio, assuming nothing else is changed.
LAir |
The ability to find closely correlated positions to LAir Liquide could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace LAir Liquide 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 LAir Liquide - 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 LAir Liquide SA to buy it.
Moving together with LAir Pink Sheet
1.0 | AIQUY | Air Liquide SA | PairCorr |
0.77 | SHW | Sherwin Williams Financial Report 23rd of July 2024 | PairCorr |
0.78 | ECL | Ecolab Inc Financial Report 7th of May 2024 | PairCorr |
0.82 | SKFOF | Sika AG | PairCorr |
0.87 | SXYAY | Sika AG ADR | PairCorr |
0.61 | DD | Dupont De Nemours Report 7th of May 2024 | PairCorr |
0.75 | GVDNY | Givaudan SA ADR | PairCorr |
Related Correlations Analysis
0.78 | 0.79 | 0.53 | 0.62 | 0.26 | AIQUY | ||
0.78 | 0.62 | 0.37 | 0.39 | 0.68 | SHW | ||
0.79 | 0.62 | 0.34 | 0.83 | 0.07 | ECL | ||
0.53 | 0.37 | 0.34 | 0.31 | 0.06 | APD | ||
0.62 | 0.39 | 0.83 | 0.31 | -0.17 | DD | ||
0.26 | 0.68 | 0.07 | 0.06 | -0.17 | PPG | ||
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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
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Risk-Adjusted Indicators
There is a big difference between LAir Pink Sheet performing well and LAir Liquide 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 LAir Liquide'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 | ||
---|---|---|---|---|---|---|---|---|---|---|
AIQUY | 0.94 | 0.01 | 0.00 | 0.08 | 1.08 | 2.02 | 12.25 | |||
SHW | 0.94 | (0.05) | (0.02) | 0.03 | 1.42 | 1.81 | 6.43 | |||
ECL | 0.79 | 0.22 | 0.16 | (1.82) | 0.61 | 1.55 | 10.87 | |||
APD | 1.17 | (0.13) | 0.00 | (0.02) | 0.00 | 2.22 | 17.06 | |||
DD | 0.97 | 0.28 | 0.23 | 0.31 | 0.74 | 1.86 | 10.59 | |||
PPG | 0.93 | (0.16) | 0.00 | (0.08) | 0.00 | 1.69 | 5.27 |
Be your own money manager
Our tools can tell you how much better you can do entering a position in LAir Liquide 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.Did you try this?
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Already Invested in LAir Liquide SA?
The danger of trading LAir Liquide SA is mainly related to its market volatility and Company 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 LAir Liquide 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 LAir Liquide. The Sharpe ratio is calculated by using standard deviation and excess return to determine reward per unit of risk. To understand how volatile LAir Liquide SA 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 Trending Equities to better understand how to build diversified portfolios, which includes a position in LAir Liquide SA. Also, note that the market value of any company could be tightly coupled with the direction of predictive economic indicators such as signals in employment. You can also try the Portfolio Anywhere module to track or share privately all of your investments from the convenience of any device.
Complementary Tools for LAir Pink Sheet analysis
When running LAir Liquide's price analysis, check to measure LAir Liquide'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 LAir Liquide is operating at the current time. Most of LAir Liquide's value examination focuses on studying past and present price action to predict the probability of LAir Liquide's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move LAir Liquide's price. Additionally, you may evaluate how the addition of LAir Liquide to your portfolios can decrease your overall portfolio volatility.
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