Assa Abloy Correlations

ASAZY Stock

USD 18.25 0.43 2.41%

The current 90-days correlation between Assa Abloy AB and Zoom Video Communications is 0.01 (i.e., Significant diversification). The correlation of Assa Abloy 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. If the correlation is 0, the equities are not correlated; they are entirely random.

Assa Abloy Correlation With Market

Good diversification

The correlation between Assa Abloy AB and DJI is -0.05 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Assa Abloy AB and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Assa Pink Sheet

0.74	HNHPF	Hon Hai Precision	Pair Corr
0.79	MMM	3M Company	Pair Corr
0.61	BAC	Bank of America	Pair Corr
0.67	AA	Alcoa Corp	Pair Corr
0.73	AXP	American Express	Pair Corr
0.64	KO	Coca Cola Aggressive Push	Pair Corr
0.61	CAT	Caterpillar	Pair Corr

Moving against Assa Pink Sheet

0.65	MSA	MSA Safety	Pair Corr
0.62	SOMLY	Secom Co	Pair Corr
0.55	SCTBY	Securitas AB	Pair Corr
0.54	ALLE	Allegion PLC	Pair Corr
0.62	VZ	Verizon Communications	Pair Corr
0.32	PG	Procter Gamble	Pair Corr

Related Correlations Analysis

	SPHM	HTB	WWII	QIPT	NNRHF	ZM	CIO-P-A	GNZUF
SPHM		0.0	0.0	0.0	0.0	0.0	0.0	0.0	SPHM
HTB	0.0		0.0	0.31	0.0	0.28	0.25	0.17	HTB
WWII	0.0	0.0		0.0	-1.0	0.0	0.0	0.0	WWII
QIPT	0.0	0.31	0.0		0.0	0.42	0.73	-0.12	QIPT
NNRHF	0.0	0.0	-1.0	0.0		0.0	0.0	0.0	NNRHF
ZM	0.0	0.28	0.0	0.42	0.0		0.13	-0.02	ZM
CIO-P-A	0.0	0.25	0.0	0.73	0.0	0.13		-0.02	CIO-P-A
GNZUF	0.0	0.17	0.0	-0.12	0.0	-0.02	-0.02		GNZUF
	SPHM	HTB	WWII	QIPT	NNRHF	ZM	CIO-P-A	GNZUF

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

CIO-P-A	+ 0.73	QIPT
ZM	+ 0.42	QIPT
QIPT	+ 0.31	HTB
ZM	+ 0.28	HTB
CIO-P-A	+ 0.25	HTB
GNZUF	+ 0.17	HTB

High negative correlations

NNRHF	- 1.0	WWII
GNZUF	- 0.12	QIPT
GNZUF	- 0.02	CIO-P-A
GNZUF	- 0.02	ZM
GNZUF	- 0.0	NNRHF
CIO-P-A	- 0.0	NNRHF

Risk-Adjusted Indicators

There is a big difference between Assa Pink Sheet performing well and Assa Abloy 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 Assa Abloy'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
SPHM	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
HTB	1.06	(0.06)	0.00	(0.04)	0.00	0.00	2.66	(2.12)	7.61
WWII	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
QIPT	2.34	0.12	0.04	0.32	2.71	(3.11)	5.60	(5.78)	29.18
NNRHF	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
ZM	1.27	(0.09)	0.00	(0.08)	0.00	0.00	2.37	(2.84)	6.50
CIO-P-A	0.19	(0.02)	0.00	(0.30)	0.00	0.00	0.32	(0.40)	1.82
GNZUF	2.88	(0.03)	0.00	(0.18)	0.00	0.00	10.00	(8.89)	27.94

Be your own money manager

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

Ann Holmberg	Head Communications	Profile
Massimo Grassi	Ex Division	Profile
Martin Poxton	EVP SEA	Profile
Bjorn Lidefelt	Exec Global	Profile
Simon MBA	EVP Asia	Profile

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