Digital Multimedia Correlations

134580 Stock

1,690 24.00 1.44%

The current 90-days correlation between Digital Multimedia and Semyung Electric Machinery is 0.1 (i.e., Average diversification). The correlation of Digital Multimedia 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 Multimedia Correlation With Market

Significant diversification

The correlation between Digital Multimedia Technology and DJI is 0.06 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Digital Multimedia Technology and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to Digital Multimedia 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 Multimedia 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 Multimedia - 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 Multimedia Technology to buy it.

Moving together with Digital Stock

0.81	293780	AptaBio Therapeutics	Pair Corr
0.85	215480	Daewoo SBI SPAC	Pair Corr
0.89	302430	Innometry	Pair Corr
0.8	033240	Jahwa Electron	Pair Corr
0.74	053080	Wonbang Tech	Pair Corr

Moving against Digital Stock

0.44

203650

Dream Security co

Pair Corr

Related Correlations Analysis

	097230	017510	000390	047040	403490	111710	101170	128660
097230		-0.33	-0.6	0.06	-0.23	0.27	0.18	-0.35	097230
017510	-0.33		0.48	0.74	0.67	-0.62	0.69	0.31	017510
000390	-0.6	0.48		0.12	0.36	-0.16	0.07	0.71	000390
047040	0.06	0.74	0.12		0.64	-0.62	0.88	-0.02	047040
403490	-0.23	0.67	0.36	0.64		-0.4	0.71	0.29	403490
111710	0.27	-0.62	-0.16	-0.62	-0.4		-0.38	-0.07	111710
101170	0.18	0.69	0.07	0.88	0.71	-0.38		0.01	101170
128660	-0.35	0.31	0.71	-0.02	0.29	-0.07	0.01		128660
	097230	017510	000390	047040	403490	111710	101170	128660

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

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

101170	+ 0.88	047040
047040	+ 0.74	017510
128660	+ 0.71	000390
101170	+ 0.71	403490
101170	+ 0.69	017510
403490	+ 0.67	017510

High negative correlations

111710	- 0.62	047040
111710	- 0.62	017510
000390	- 0.6	097230
111710	- 0.4	403490
101170	- 0.38	111710
128660	- 0.35	097230

Risk-Adjusted Indicators

There is a big difference between Digital Stock performing well and Digital Multimedia 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 Multimedia'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
097230	2.87	0.52	0.22	0.44	2.32	(3.73)	9.00	(5.19)	27.63
017510	2.86	(0.28)	0.00	(0.76)	0.00	0.00	6.66	(6.45)	15.45
000390	1.42	(0.09)	0.00	0.51	0.00	0.00	2.61	(3.65)	11.35
047040	1.26	(0.26)	0.00	(0.28)	0.00	0.00	2.58	(3.02)	10.51
403490	1.26	(0.18)	0.00	2.77	0.00	0.00	2.02	(2.50)	15.97
111710	1.00	0.14	0.02	(4.38)	1.15	(1.21)	2.44	(2.22)	8.36
101170	2.07	(0.14)	0.00	(6.75)	0.00	0.00	5.01	(3.38)	9.78
128660	1.72	(0.04)	0.00	0.26	0.00	0.00	2.82	(3.75)	28.26

Be your own money manager

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

Did you try this?

Run Latest Portfolios Now

Latest Portfolios

Quick portfolio dashboard that showcases your latest portfolios

All Next

Launch Module

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2024 Macroaxis LLC