DAIMLER AG Correlations

DDAIF
 Stock
  

USD 56.69  0.66  1.15%   

The correlation of DAIMLER AG is a statistical measure of how it moves in relation to other equities. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as DAIMLER AG moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if DAIMLER AG moves in either direction, the perfectly negatively correlated security will move in the opposite direction. If the correlation is 0, the equities are not correlated; they are entirely random. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.
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The ability to find closely correlated positions to DAIMLER AG could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace DAIMLER AG 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 DAIMLER AG - 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 DAIMLER AG to buy it.

Moving together with DAIMLER AG

+1.0DMLRYDAIMLER AGPairCorr

Related Correlations

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Correlation Matchups

The Correlation Coefficient is a useful tool to identify correlated or non-correlated securities, which is essential in developing a diversified portfolio. It tells us the relationship between two positions you have in your portfolio or considering acquiring. Over a given time period, the two securities movetogether 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   
  
High negative correlations   
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DAIMLER AG Competition Risk-Adjusted Indicators

Nowadays, there is a big difference between DAIMLER Stock performing well and DAIMLER AG company doing well compared to the competition. There are way too many exceptions to the normal that investors can tell for sure what's good or bad unless they analyze DAIMLER AG's multiple risk-adjusted performance indicators. 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
Information
Ratio
Expected
Shortfall
Potential
Upside
Value
At Risk
Maximum
Drawdown
TWTR 1.68  0.26  0.09  0.40  2.78  0.11 (1.60)  4.00 (2.97)  15.22 
MSFT 1.35  0.00  0.00 (0.07)  0.00 (0.0125)  0.00  2.78 (2.94)  12.18 
UBER 2.80  0.55  0.16  0.41  2.80  0.14 (2.93)  5.60 (5.13)  25.11 
F 2.24  0.20  0.05  0.05  3.16  0.0492 (2.41)  5.18 (5.04)  18.47 
T 1.04 (0.37)  0.00 (0.57)  0.00 (0.23)  0.00  1.55 (2.33)  9.29 
A 1.62  0.19  0.09  0.09  1.79  0.08 (1.90)  3.43 (3.13)  11.70 
CRM 1.95 (0.05)  0.00 (0.10)  0.00 (0.033)  0.00  3.63 (3.96)  10.76 
JPM 1.35  0.02  0.00 (0.05)  0.00  0.0027  0.00  2.61 (2.88)  8.06 
MRK 0.87 (0.04)  0.00 (0.16)  0.00  0.0025  0.00  1.66 (1.87)  4.57 
XOM 1.75  0.18  0.09  0.14  2.01  0.09 (1.93)  3.64 (3.24)  9.95 

DAIMLER AG Related Equities

One of the popular trading techniques among algorithmic traders is to use market-neutral strategies where every trade hedges away some risk. Because there are two separate transactions required, even if one position performs unexpectedly, the other equity can make up some of the losses. Below are some of the equities that can be combined with DAIMLER AG stock to make a market-neutral strategy. Peer analysis of DAIMLER AG could also be used in its relative valuation, which is a method of valuing DAIMLER AG by comparing valuation metrics with similar companies.
Amazon IncAmn Healthcare ServicesTwist Bioscience CorpFreedom Holding CorpGx Nasdaq-100 CoveredFranklin Mutual EuropeanNatural Hlth TrdUSA Value FactorBetapro Canadian GoldAramark Holdings CorpLong-Term Govt BondMaiden Holdings NorthSeagate Technology HldgsVistra Energy CorpExxon Mobil Corp
 Risk & Return  Correlation

DAIMLER AG Corporate Management

Elected by the shareholders, the DAIMLER AG's board of directors comprises two types of representatives: DAIMLER AG inside directors who are chosen from within the company, and outside directors, selected externally and held independent of DAIMLER. The board's role is to monitor DAIMLER AG's management team and ensure that shareholders' interests are well served. DAIMLER AG's inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, DAIMLER AG's outside directors are responsible for providing unbiased perspectives on the board's policies.
Renata Bruengger - Member of the Management Board, Responsible for Integrity and Legal AffairsProfile
Petraea Heynike - Member of the Supervisory BoardProfile
Bader Saad - Member of the Supervisory BoardProfile
Bernhard Walter - Member of the Supervisory BoardProfile
Frank Weber - Member of the Supervisory Board and Employee RepresentativeProfile
Valter Sanches - Member of the Supervisory Board, Employee RepresentativeProfile
Marie Wieck - Member of the Supervisory Board, representing the shareholdersProfile

Invested in DAIMLER AG?

The danger of trading DAIMLER AG is mainly related to its market volatility and company specific events. As an investor, you must understand the concept of risk-adjusted return before you start trading. The most common way to measure the risk of DAIMLER AG is by using the Sharpe ratio. The ratio expresses how much excess return you acquire for the extra volatility you endure for holding a more risker asset than DAIMLER AG. The Shape ratio is calculated by using standard deviation and excess return to determine reward per unit of risk. To understand how volatile DAIMLER AG is, you must compare it to a benchmark. Traditionally, the risk-free rate of return is the rate of return on the shortest-dated U.S. Treasury, such as a 3-year bond.
Continue to Investing Opportunities. You can also try Options Analysis module to analyze and evaluate options and option chains as a potential hedge for your portfolios.

Other Tools for DAIMLER Stock

When running DAIMLER AG price analysis, check to measure DAIMLER AG's market volatility, profitability, liquidity, solvency, efficiency, growth potential, financial leverage, and other vital indicators. We have many different tools that can be utilized to determine how healthy DAIMLER AG is operating at the current time. Most of DAIMLER AG's value examination focuses on studying past and present price action to predict the probability of DAIMLER AG's future price movements. You can analyze the entity against its peers and financial market as a whole to determine factors that move DAIMLER AG's price. Additionally, you may evaluate how the addition of DAIMLER AG to your portfolios can decrease your overall portfolio volatility.
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