Purmo Group Correlations
| PURMO Stock | 9.80 0.02 0.20% |
The correlation of Purmo Group 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 Purmo Group moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Purmo Group 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.
Significant diversification
The correlation between Purmo Group Oyj and NYA is 0.05 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Purmo Group Oyj and NYA in the same portfolio, assuming nothing else is changed.
Purmo |
The ability to find closely correlated positions to Purmo Group could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Purmo Group 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 Purmo Group - 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 Purmo Group Oyj to buy it.
Moving against Purmo Stock
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
|
Risk-Adjusted Indicators
There is a big difference between Purmo Stock performing well and Purmo Group 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 Purmo Group'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| ALMA | 0.75 | 0.03 | (0.04) | (0.42) | 0.87 | 1.91 | 4.78 | |||
| AIFORIA | 1.94 | 0.12 | 0.03 | 2.42 | 1.93 | 4.74 | 10.63 | |||
| QPR1V | 3.29 | 0.94 | 0.19 | (0.97) | 3.00 | 9.30 | 24.52 | |||
| REKA | 1.85 | 0.19 | 0.05 | 0.84 | 2.33 | 5.39 | 20.69 | |||
| ALBAV | 1.54 | 0.13 | 0.06 | 0.24 | 1.63 | 4.29 | 17.57 | |||
| TRH1V | 2.62 | (0.90) | 0.00 | 3.32 | 0.00 | 4.75 | 20.50 | |||
| NDA-FI | 0.90 | 0.07 | (0.02) | (0.11) | 1.51 | 1.65 | 5.77 |
Be your own money manager
Our tools can tell you how much better you can do entering a position in Purmo Group 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?
Run Portfolio Comparator Now
Portfolio ComparatorCompare the composition, asset allocations and performance of any two portfolios in your account |
| All Next | Launch Module |
Purmo Group Corporate Management
Elected by the shareholders, the Purmo Group's board of directors comprises two types of representatives: Purmo Group inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Purmo. The board's role is to monitor Purmo Group's management team and ensure that shareholders' interests are well served. Purmo Group'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, Purmo Group's outside directors are responsible for providing unbiased perspectives on the board's policies.
| Justin Roux | Head Communications | Profile | |
| Tomasz Tarabura | VP Division | Profile | |
| Lauri Soikkeli | Co Sec | Profile | |
| John Leesi | Chief Officer | Profile | |
| Erik Hedin | Chief Officer | Profile | |
| Linda Currie | Chief Officer | Profile | |
| Katariina MSc | Head Relations | Profile |
Already Invested in Purmo Group Oyj?
The danger of trading Purmo Group Oyj 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 Purmo Group 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 Purmo Group. The Sharpe ratio is calculated by using standard deviation and excess return to determine reward per unit of risk. To understand how volatile Purmo Group 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 Your Equity Center to better understand how to build diversified portfolios, which includes a position in Purmo Group Oyj. Also, note that the market value of any company could be tightly coupled with the direction of predictive economic indicators such as signals in persons. You can also try the Stock Tickers module to use high-impact, comprehensive, and customizable stock tickers that can be easily integrated to any websites.
Complementary Tools for Purmo Stock analysis
When running Purmo Group's price analysis, check to measure Purmo Group'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 Purmo Group is operating at the current time. Most of Purmo Group's value examination focuses on studying past and present price action to predict the probability of Purmo Group's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Purmo Group's price. Additionally, you may evaluate how the addition of Purmo Group to your portfolios can decrease your overall portfolio volatility.
| Commodity Directory Find actively traded commodities issued by global exchanges | |
| Portfolio Analyzer Portfolio analysis module that provides access to portfolio diagnostics and optimization engine | |
| Watchlist Optimization Optimize watchlists to build efficient portfolios or rebalance existing positions based on the mean-variance optimization algorithm | |
| Sign In To Macroaxis Sign in to explore Macroaxis' wealth optimization platform and fintech modules | |
| Money Flow Index Determine momentum by analyzing Money Flow Index and other technical indicators | |
| Portfolio Backtesting Avoid under-diversification and over-optimization by backtesting your portfolios |