Sydbank AS Correlations

SYDB Stock

DKK 527.00 7.00 1.35%

The current 90-days correlation between Sydbank AS and Alm Brand is 0.41 (i.e., Very weak diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Sydbank AS moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Sydbank AS moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Sydbank AS Correlation With Market

Significant diversification

The correlation between Sydbank AS and DJI is 0.02 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Sydbank AS and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Sydbank Stock

0.72	DANSKE	Danske Bank AS	Pair Corr
0.68	JYSK	Jyske Bank AS	Pair Corr

Moving against Sydbank Stock

0.42

NOVO-B

Novo Nordisk AS

Pair Corr

Related Correlations Analysis

	ALMB	RILBA	JYSK	VJBA	LASP	DAB	SPKSJF	DJUR	FYNBK	SKJE
ALMB		0.36	-0.05	0.07	-0.15	0.04	0.3	0.15	0.06	0.4	ALMB
RILBA	0.36		-0.32	-0.07	-0.33	-0.04	0.38	-0.25	0.06	0.5	RILBA
JYSK	-0.05	-0.32		0.78	0.89	0.74	0.03	0.8	0.63	-0.21	JYSK
VJBA	0.07	-0.07	0.78		0.85	0.93	0.05	0.78	0.85	0.24	VJBA
LASP	-0.15	-0.33	0.89	0.85		0.86	0.02	0.68	0.76	-0.22	LASP
DAB	0.04	-0.04	0.74	0.93	0.86		0.03	0.73	0.93	0.24	DAB
SPKSJF	0.3	0.38	0.03	0.05	0.02	0.03		-0.23	0.01	-0.07	SPKSJF
DJUR	0.15	-0.25	0.8	0.78	0.68	0.73	-0.23		0.7	0.21	DJUR
FYNBK	0.06	0.06	0.63	0.85	0.76	0.93	0.01	0.7		0.35	FYNBK
SKJE	0.4	0.5	-0.21	0.24	-0.22	0.24	-0.07	0.21	0.35		SKJE
	ALMB	RILBA	JYSK	VJBA	LASP	DAB	SPKSJF	DJUR	FYNBK	SKJE

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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

DAB	+ 0.93	VJBA
FYNBK	+ 0.93	DAB
LASP	+ 0.89	JYSK
DAB	+ 0.86	LASP
LASP	+ 0.85	VJBA
FYNBK	+ 0.85	VJBA

High negative correlations

LASP	- 0.33	RILBA
JYSK	- 0.32	RILBA
DJUR	- 0.25	RILBA
DJUR	- 0.23	SPKSJF
SKJE	- 0.22	LASP
SKJE	- 0.21	JYSK

Risk-Adjusted Indicators

There is a big difference between Sydbank Stock performing well and Sydbank AS 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 Sydbank AS'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
ALMB	0.86	(0.02)	0.00	0.52	0.00	0.00	2.12	(2.20)	6.38
RILBA	0.86	(0.08)	0.00	(0.43)	0.00	0.00	1.53	(1.69)	5.97
JYSK	0.85	0.24	0.09	(0.68)	0.78	(0.97)	1.80	(1.50)	5.79
VJBA	1.36	0.42	0.41	0.63	0.31	(1.92)	1.85	(1.42)	37.44
LASP	1.12	0.49	0.27	1.72	0.62	(1.72)	4.84	(1.52)	11.37
DAB	1.04	0.22	0.09	0.83	1.01	(1.41)	3.54	(2.08)	7.94
SPKSJF	1.17	0.04	(0.06)	(0.09)	1.52	(1.23)	2.77	(2.57)	8.71
DJUR	0.89	0.17	0.03	(1.00)	1.10	(1.00)	2.76	(1.79)	5.43
FYNBK	1.21	0.25	0.07	(0.71)	0.92	(1.81)	4.19	(1.76)	9.02
SKJE	1.12	(0.05)	0.00	0.61	0.00	0.00	2.73	(2.18)	11.93

Be your own money manager

Our tools can tell you how much better you can do entering a position in Sydbank AS 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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