Hexagon AB Correlations
| HXGBF Stock | USD 10.53 0.71 6.32% |
The correlation of Hexagon AB 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 Hexagon AB moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Hexagon AB 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 Hexagon AB and NYA is -0.18 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Hexagon AB and NYA in the same portfolio, assuming nothing else is changed.
Hexagon |
The ability to find closely correlated positions to Hexagon AB could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Hexagon AB 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 Hexagon AB - 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 Hexagon AB to buy it.
Moving together with Hexagon Pink Sheet
| 0.71 | HXGBY | Hexagon AB ADR | PairCorr |
| 0.77 | TRMB | Trimble Downward Rally | PairCorr |
| 0.73 | BRK-A | Berkshire Hathaway Earnings Call This Week | PairCorr |
Moving against Hexagon Pink Sheet
Related Correlations Analysis
| 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 Hexagon Pink Sheet performing well and Hexagon AB 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 Hexagon AB'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| MINDP | 3.04 | 0.61 | 0.19 | 1.63 | 2.40 | 7.32 | 28.56 | |||
| SVRE | 5.26 | (0.43) | 0.00 | (0.89) | 0.00 | 10.34 | 38.57 | |||
| FCUV | 7.20 | (2.12) | 0.00 | (1.83) | 0.00 | 12.00 | 39.30 | |||
| GNSS | 3.24 | 0.56 | 0.16 | 0.76 | 3.03 | 8.81 | 25.55 | |||
| MLAB | 2.16 | 0.23 | 0.09 | 0.17 | 3.17 | 5.17 | 18.59 | |||
| FLXT | 11.38 | 2.36 | 0.10 | (1.30) | 12.37 | 39.39 | 98.36 | |||
| CPTN | 2.73 | 0.37 | 0.07 | (0.32) | 3.01 | 5.38 | 32.81 |
Be your own money manager
Our tools can tell you how much better you can do entering a position in Hexagon AB 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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Hexagon AB Corporate Directors
Hexagon AB corporate directors refer to members of a Hexagon AB board of directors. The board of directors generally takes responsibility for the Hexagon AB's affairs and long-term direction of the entity. A corporate director does not make decisions for the corporation on his own. As a member of the board of directors, she or he must function as a part of a group that makes decisions on behalf of the business only by the board of directors' meetings. To pass a resolution, a majority of Hexagon AB's board members must vote for the resolution. The Hexagon AB board of directors' duties also include the election, removal, and supervision of officers, including the adoption, amendment, and repeal of bylaws.| John Brandon | Director | Profile | |
| Ulrika Francke | Independent Director | Profile | |
| Marta Andreen | Director | Profile | |
| Henrik Henriksson | Director | Profile |
Already Invested in Hexagon AB?
The danger of trading Hexagon AB 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 Hexagon AB 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 Hexagon AB. The Sharpe ratio is calculated by using standard deviation and excess return to determine reward per unit of risk. To understand how volatile Hexagon AB 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 Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in Hexagon AB. Also, note that the market value of any company could be tightly coupled with the direction of predictive economic indicators such as signals in bureau of labor statistics. Note that the Hexagon AB information on this page should be used as a complementary analysis to other Hexagon AB's statistical models used to find the right mix of equity instruments to add to your existing portfolios or create a brand new portfolio. You can also try the Insider Screener module to find insiders across different sectors to evaluate their impact on performance.
Complementary Tools for Hexagon Pink Sheet analysis
When running Hexagon AB's price analysis, check to measure Hexagon AB'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 Hexagon AB is operating at the current time. Most of Hexagon AB's value examination focuses on studying past and present price action to predict the probability of Hexagon AB's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Hexagon AB's price. Additionally, you may evaluate how the addition of Hexagon AB to your portfolios can decrease your overall portfolio volatility.
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