Telecom Plus Correlations

TEP Stock

1,372 22.00 1.63%

The current 90-days correlation between Telecom Plus PLC and Dentsply Sirona is -0.03 (i.e., Good diversification). The correlation of Telecom Plus 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.

Telecom Plus Correlation With Market

Pay attention - limited upside

The correlation between Telecom Plus PLC and DJI is -0.8 (i.e., Pay attention - limited upside) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Telecom Plus PLC and DJI in the same portfolio, assuming nothing else is changed.

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

Moving against Telecom Stock

0.86	PAF	Pan African Resources	Pair Corr
0.85	0EDE	NXP Semiconductors	Pair Corr
0.85	0RB3	DFDS A/S	Pair Corr
0.82	0EWD	Interpump Group SpA Earnings Call This Week	Pair Corr
0.8	0KFZ	Parker Hannifin Corp	Pair Corr
0.73	IPDM	iShares Physical Pal	Pair Corr
0.73	SWR	Smurfit Westrock Plc Earnings Call Today	Pair Corr
0.69	SMSD	Samsung Electronics	Pair Corr
0.68	BC94	Samsung Electronics	Pair Corr
0.68	SMSN	Samsung Electronics	Pair Corr
0.66	TYT	Toyota Motor Corp	Pair Corr
0.66	LGLD	LG ELECTRONICS INC	Pair Corr
0.66	ARS	Asiamet Resources	Pair Corr
0.65	GTCO	Guaranty Trust Holding	Pair Corr
0.64	RMMC	River and Mercantile	Pair Corr
0.63	0NX1	Aalberts Industries	Pair Corr
0.62	0MPL	SGL Carbon SE	Pair Corr
0.6	JEMI	JPMorgan Global Emerging	Pair Corr
0.59	PCIP	PCI PAL PLC	Pair Corr
0.44	0I6K	DR Horton	Pair Corr
0.42	LMP	LondonMetric Property Plc	Pair Corr
0.37	0QWA	Logista	Pair Corr
0.35	INVP	Investec PLC	Pair Corr
0.92	0R30	VF Corp	Pair Corr
0.91	CGEO	Georgia Capital PLC	Pair Corr
0.9	0MZX	Vienna Insurance	Pair Corr
0.88	HANA	Hansa Investment	Pair Corr
0.86	AAZ	Anglo Asian Mining	Pair Corr
0.79	0KVR	Kloeckner Co SE	Pair Corr
0.75	0QZ2	Silvercorp Metals	Pair Corr
0.73	SPPP	Invesco Physical Platinum	Pair Corr
0.71	0OHY	Aegean Airlines SA	Pair Corr
0.64	0J76	Huntington Ingalls	Pair Corr
0.63	OMI	Orosur Mining	Pair Corr
0.61	0A76	British American Tobacco Earnings Call Tomorrow	Pair Corr
0.58	0KU1	Raymond James Financial	Pair Corr

Related Correlations Analysis

	0I8F	IIG	TRY	0JDP	0OG6	0IVR
0I8F		0.69	0.8	0.56	0.22	0.61	0I8F
IIG	0.69		0.57	0.1	0.38	0.46	IIG
TRY	0.8	0.57		0.62	0.14	0.54	TRY
0JDP	0.56	0.1	0.62		-0.03	0.14	0JDP
0OG6	0.22	0.38	0.14	-0.03		0.27	0OG6
0IVR	0.61	0.46	0.54	0.14	0.27		0IVR
	0I8F	IIG	TRY	0JDP	0OG6	0IVR

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

TRY	+ 0.8	0I8F
IIG	+ 0.69	0I8F
0JDP	+ 0.62	TRY
0IVR	+ 0.61	0I8F
TRY	+ 0.57	IIG
0JDP	+ 0.56	0I8F

High negative correlations

0OG6

- 0.03

0JDP

Risk-Adjusted Indicators

There is a big difference between Telecom Stock performing well and Telecom Plus 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 Telecom Plus' 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
0I8F	1.82	0.11	0.06	0.16	2.24	(2.10)	4.10	(2.71)	10.74
IIG	1.80	0.57	0.15	(2.88)	1.89	(2.52)	4.84	(2.88)	18.92
TRY	0.65	0.07	0.02	0.28	0.62	(0.80)	1.83	(1.21)	4.30
0JDP	1.74	(0.06)	(0.03)	0.01	2.42	(1.76)	3.11	(3.28)	9.80
0OG6	1.70	(0.15)	0.00	(0.15)	0.00	0.00	3.24	(3.43)	22.79
0IVR	0.72	0.01	(0.06)	0.17	0.95	(0.76)	1.44	(1.45)	7.42

Be your own money manager

Our tools can tell you how much better you can do entering a position in Telecom Plus 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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