ABB Correlations

ABLZF Stock

USD 73.46 1.54 2.05%

The current 90-days correlation between ABB and Hitachi is -0.32 (i.e., Very good diversification). The correlation of ABB 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.

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

Moving together with ABB Pink Sheet

0.79	VRT	Vertiv Holdings	Pair Corr
0.89	BE	Bloom Energy Corp Trending	Pair Corr
0.94	LGRDY	Legrand SA ADR Earnings Call Tomorrow	Pair Corr
0.79	MIELY	Mitsubishi Electric Corp	Pair Corr
0.83	LGRVF	Legrand SA Earnings Call This Week	Pair Corr
0.73	MIELF	Mitsubishi Electric	Pair Corr
0.85	NVT	nVent Electric PLC	Pair Corr
0.9	NDEKY	Nitto Denko Corp	Pair Corr
0.74	DAIUF	Daifuku Co Earnings Call This Week	Pair Corr
0.79	FUWAF	Furukawa Electric	Pair Corr
0.86	AAPL	Apple Inc	Pair Corr
0.65	AMD	Advanced Micro Devices Earnings Call Today	Pair Corr
0.84	FMX	Fomento Economico	Pair Corr
0.87	ABBV	AbbVie Inc Earnings Call Tomorrow	Pair Corr
0.82	HSNGF	Hang Seng Bank	Pair Corr
0.7	TNGX	Tango Therapeutics Earnings Call Tomorrow	Pair Corr
0.67	HSON	HSON Old Earnings Call This Week	Pair Corr
0.75	GGDVY	Guangdong Investment	Pair Corr
0.83	APP	Applovin Corp Earnings Call Tomorrow	Pair Corr
0.74	JPM-PK	JPMorgan Chase	Pair Corr
0.83	PPSI	Pioneer Power Solutions	Pair Corr
0.9	TTWO	Take Two Interactive Earnings Call Tomorrow	Pair Corr
0.84	SNA	Snap On	Pair Corr
0.67	BLCO	Bausch Lomb Corp	Pair Corr
0.61	ACIW	ACI Worldwide Earnings Call This Week	Pair Corr
0.82	NGL	NGL Energy Partners Earnings Call This Week	Pair Corr
0.73	ARTM	American Nortel Comm	Pair Corr

Moving against ABB Pink Sheet

0.63	NFPDF	Nissin Foods Holdings Earnings Call This Week	Pair Corr
0.47	FMCB	Farmers Merchants Bancorp	Pair Corr

Related Correlations Analysis

	HTHIF	SAFRF	SAFRY	RYCEY	RYCEF	SBGSY	SBGSF	RCIT	ACSAY	LGRVF
HTHIF		0.45	0.49	-0.07	-0.02	0.37	0.36	-0.49	0.3	0.4	HTHIF
SAFRF	0.45		0.96	0.52	0.55	0.78	0.76	-0.18	0.68	0.8	SAFRF
SAFRY	0.49	0.96		0.55	0.57	0.82	0.79	-0.17	0.7	0.84	SAFRY
RYCEY	-0.07	0.52	0.55		0.98	0.7	0.67	0.0	0.61	0.66	RYCEY
RYCEF	-0.02	0.55	0.57	0.98		0.69	0.67	-0.04	0.63	0.65	RYCEF
SBGSY	0.37	0.78	0.82	0.7	0.69		0.97	-0.02	0.86	0.84	SBGSY
SBGSF	0.36	0.76	0.79	0.67	0.67	0.97		-0.01	0.87	0.82	SBGSF
RCIT	-0.49	-0.18	-0.17	0.0	-0.04	-0.02	-0.01		-0.1	-0.17	RCIT
ACSAY	0.3	0.68	0.7	0.61	0.63	0.86	0.87	-0.1		0.74	ACSAY
LGRVF	0.4	0.8	0.84	0.66	0.65	0.84	0.82	-0.17	0.74		LGRVF
	HTHIF	SAFRF	SAFRY	RYCEY	RYCEF	SBGSY	SBGSF	RCIT	ACSAY	LGRVF

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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

RYCEF	+ 0.98	RYCEY
SBGSF	+ 0.97	SBGSY
SAFRY	+ 0.96	SAFRF
ACSAY	+ 0.87	SBGSF
ACSAY	+ 0.86	SBGSY
LGRVF	+ 0.84	SAFRY

High negative correlations

RCIT	- 0.49	HTHIF
RCIT	- 0.18	SAFRF
LGRVF	- 0.17	RCIT
RCIT	- 0.17	SAFRY
ACSAY	- 0.1	RCIT
RYCEY	- 0.07	HTHIF

Risk-Adjusted Indicators

There is a big difference between ABB Pink Sheet performing well and ABB 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 ABB'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
HTHIF	2.53	0.28	0.06	1.91	2.58	(2.89)	6.12	(4.57)	13.34
SAFRF	1.19	0.07	0.01	0.24	1.21	(1.25)	2.75	(2.20)	6.81
SAFRY	0.87	0.07	0.02	0.22	0.81	(0.99)	2.14	(1.78)	4.40
RYCEY	1.12	0.03	0.00	0.16	1.36	(1.21)	2.12	(2.19)	5.60
RYCEF	1.22	0.05	0.01	0.20	1.37	(1.36)	2.46	(1.68)	9.43
SBGSY	1.28	0.10	0.05	0.25	1.46	(1.38)	2.52	(2.38)	7.86
SBGSF	1.62	0.13	0.03	0.38	1.79	(1.71)	3.63	(3.32)	9.90
RCIT	3.03	(1.86)	0.00	(0.48)	0.00	0.00	1.37	(1.62)	4.04
ACSAY	1.11	0.28	0.15	0.83	1.03	(1.28)	2.59	(2.17)	5.58
LGRVF	0.58	0.21	0.00	1.94	0.00	0.00	0.67	0.00	13.55

Be your own money manager

Our tools can tell you how much better you can do entering a position in ABB 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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ABB Corporate Management

Tarak Mehta	Head of Low Voltage Products division, Member of the Executive Committee	Profile
AnnSofie Nordh	Group Relations	Profile
Alec Joannou	Chief Officer	Profile
Andrea Antonelli	G Sec	Profile

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