Digital Imaging Correlations

110990 Stock

13,030 30.00 0.23%

The current 90-days correlation between Digital Imaging Tech and Nice Information Telecommunication is 0.31 (i.e., Weak diversification). The correlation of Digital Imaging 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.

Digital Imaging Correlation With Market

Good diversification

The correlation between Digital Imaging Technology and DJI is -0.04 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Digital Imaging Technology and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Digital Stock

0.78	108320	LX Semicon	Pair Corr
0.92	064760	Tokai Carbon Korea	Pair Corr
0.82	137400	People Technology	Pair Corr
0.91	166090	Hana Materials	Pair Corr
0.93	222800	SIMMTECH	Pair Corr
0.88	195870	Haesung DS	Pair Corr
0.87	084850	ITM Semiconductor	Pair Corr

Related Correlations Analysis

	036800	109960	900120	033230	051905	004590	017890
036800		0.68	0.69	0.8	0.69	-0.56	0.71	036800
109960	0.68		0.44	0.73	0.57	-0.37	0.51	109960
900120	0.69	0.44		0.74	0.82	-0.67	0.88	900120
033230	0.8	0.73	0.74		0.84	-0.59	0.86	033230
051905	0.69	0.57	0.82	0.84		-0.62	0.83	051905
004590	-0.56	-0.37	-0.67	-0.59	-0.62		-0.73	004590
017890	0.71	0.51	0.88	0.86	0.83	-0.73		017890
	036800	109960	900120	033230	051905	004590	017890

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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

017890	+ 0.88	900120
017890	+ 0.86	033230
051905	+ 0.84	033230
017890	+ 0.83	051905
051905	+ 0.82	900120
033230	+ 0.8	036800

High negative correlations

017890	- 0.73	004590
004590	- 0.67	900120
004590	- 0.62	051905
004590	- 0.59	033230
004590	- 0.56	036800
004590	- 0.37	109960

Risk-Adjusted Indicators

There is a big difference between Digital Stock performing well and Digital Imaging 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 Digital Imaging'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
036800	0.54	(0.03)	0.00	(0.35)	0.00	0.00	0.93	(1.05)	6.73
109960	3.12	(0.02)	(0.01)	(0.02)	4.29	(3.43)	7.57	(5.62)	24.14
900120	2.36	(0.24)	0.00	5.22	0.00	0.00	4.82	(4.60)	18.05
033230	2.10	(0.25)	0.00	(0.73)	0.00	0.00	4.63	(4.56)	14.31
051905	1.00	(0.16)	0.00	1.69	0.00	0.00	2.41	(1.96)	9.19
004590	0.89	0.24	0.22	(2.48)	0.55	(1.27)	3.96	(1.62)	8.53
017890	0.88	(0.18)	0.00	(0.99)	0.00	0.00	1.66	(2.34)	7.87

Be your own money manager

Our tools can tell you how much better you can do entering a position in Digital Imaging 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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