PARKWAY LIFE Correlations

3P51 Stock

EUR 2.60 0.09 3.35%

The current 90-days correlation between PARKWAY LIFE REAL and ADDUS HOMECARE is -0.09 (i.e., Good diversification). The correlation of PARKWAY LIFE 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 correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.

PARKWAY LIFE Correlation With Market

Significant diversification

The correlation between PARKWAY LIFE REAL and DJI is 0.06 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding PARKWAY LIFE REAL and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to PARKWAY LIFE could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace PARKWAY LIFE 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 PARKWAY LIFE - 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 PARKWAY LIFE REAL to buy it.

Moving together with PARKWAY Stock

0.69	GEG	GEO Group	Pair Corr
0.76	5F3	JINS HOLDINGS INC	Pair Corr
0.61	HCMA	HITACHI CONSTRMACHADR/2	Pair Corr

Moving against PARKWAY Stock

0.77	HCW	Welltower	Pair Corr
0.75	DBSA	Banco Santander SA	Pair Corr
0.65	CH5	Chesapeake Utilities	Pair Corr
0.64	WX4	Omega Healthcare Inv	Pair Corr
0.63	BFP	BBVA Banco Frances	Pair Corr
0.57	TM2	Sydbank A/S	Pair Corr
0.43	WX6	National Health Investors	Pair Corr
0.43	LTP	LTC Properties	Pair Corr
0.41	OTE	Hellenic Telecommunicatio	Pair Corr
0.35	M3P	Medical Properties Trust	Pair Corr

Related Correlations Analysis

	A41	RYQ	P5P	25F0	AP3	3MJ	A41
A41		0.42	-0.05	0.45	-0.59	0.65	0.78	A41
RYQ	0.42		0.56	0.5	-0.34	0.43	0.32	RYQ
P5P	-0.05	0.56		0.26	-0.05	0.12	-0.19	P5P
25F0	0.45	0.5	0.26		-0.47	0.55	0.49	25F0
AP3	-0.59	-0.34	-0.05	-0.47		-0.88	-0.53	AP3
3MJ	0.65	0.43	0.12	0.55	-0.88		0.58	3MJ
A41	0.78	0.32	-0.19	0.49	-0.53	0.58		A41
	A41	RYQ	P5P	25F0	AP3	3MJ	A41

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

A41	+ 0.78	A41
3MJ	+ 0.65	A41
A41	+ 0.58	3MJ
P5P	+ 0.56	RYQ
3MJ	+ 0.55	25F0
25F0	+ 0.5	RYQ

High negative correlations

3MJ	- 0.88	AP3
AP3	- 0.59	A41
A41	- 0.53	AP3
AP3	- 0.47	25F0
AP3	- 0.34	RYQ
A41	- 0.19	P5P

Risk-Adjusted Indicators

There is a big difference between PARKWAY Stock performing well and PARKWAY LIFE 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 PARKWAY LIFE'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
A41	1.32	0.08	0.02	0.92	1.45	(1.65)	2.97	(2.59)	6.55
RYQ	2.27	0.18	0.06	0.21	2.63	(2.66)	4.72	(5.11)	13.53
P5P	1.05	0.06	0.03	0.19	1.22	(1.08)	1.89	(1.95)	8.90
25F0	0.75	0.09	0.01	(0.44)	1.27	(2.00)	1.13	(0.57)	15.32
AP3	0.90	(0.19)	0.00	(0.41)	0.00	0.00	1.83	(2.43)	10.16
3MJ	2.25	0.49	0.14	8.43	2.50	(2.83)	4.17	(4.62)	21.03
A41	1.40	0.09	0.02	(2.62)	1.66	(1.87)	2.78	(3.11)	10.66

Be your own money manager

Our tools can tell you how much better you can do entering a position in PARKWAY LIFE 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.

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