EVS Broadcast Correlations

5E1 Stock

37.75 0.55 1.44%

The current 90-days correlation between EVS Broadcast Equipment and High Liner Foods is 0.12 (i.e., Average diversification). The correlation of EVS Broadcast 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. If the correlation is 0, the equities are not correlated; they are entirely random.

EVS Broadcast Correlation With Market

Good diversification

The correlation between EVS Broadcast Equipment and DJI is -0.19 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding EVS Broadcast Equipment and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with EVS Stock

0.63	EUH	Eurasia Mining Plc	Pair Corr
0.83	DBPE	Xtrackers LevDAX	Pair Corr
0.7	E908	Lyxor 1	Pair Corr

Moving against EVS Stock

0.92	MSF	Microsoft	Pair Corr
0.92	MSF	Microsoft	Pair Corr
0.92	MSF	Microsoft	Pair Corr
0.92	MSF	Microsoft	Pair Corr
0.88	TEY	Teradyne	Pair Corr
0.84	DBPD	Xtrackers ShortDAX	Pair Corr
0.76	03F	IDP EDUCATION LTD	Pair Corr
0.62	APC	Apple Inc	Pair Corr
0.61	APC	Apple Inc	Pair Corr
0.61	APC	Apple Inc	Pair Corr
0.61	APC	Apple Inc	Pair Corr
0.61	APC	Apple Inc	Pair Corr
0.6	APC	Apple Inc	Pair Corr

Related Correlations Analysis

	AW8	M0W	GZ3	39M	28Y	TF7A	MOB	T6W
AW8		-0.25	0.43	-0.54	0.1	-0.25	-0.66	0.33	AW8
M0W	-0.25		-0.16	0.34	0.21	0.23	0.34	-0.17	M0W
GZ3	0.43	-0.16		-0.12	0.13	0.0	-0.09	0.33	GZ3
39M	-0.54	0.34	-0.12		0.41	0.63	0.57	-0.34	39M
28Y	0.1	0.21	0.13	0.41		0.47	0.28	-0.18	28Y
TF7A	-0.25	0.23	0.0	0.63	0.47		0.5	-0.36	TF7A
MOB	-0.66	0.34	-0.09	0.57	0.28	0.5		-0.11	MOB
T6W	0.33	-0.17	0.33	-0.34	-0.18	-0.36	-0.11		T6W
	AW8	M0W	GZ3	39M	28Y	TF7A	MOB	T6W

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

TF7A	+ 0.63	39M
MOB	+ 0.57	39M
MOB	+ 0.5	TF7A
TF7A	+ 0.47	28Y
GZ3	+ 0.43	AW8
28Y	+ 0.41	39M

High negative correlations

MOB	- 0.66	AW8
39M	- 0.54	AW8
T6W	- 0.36	TF7A
T6W	- 0.34	39M
TF7A	- 0.25	AW8
M0W	- 0.25	AW8

Risk-Adjusted Indicators

There is a big difference between EVS Stock performing well and EVS Broadcast 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 EVS Broadcast'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
AW8	0.36	(0.04)	0.00	(1.11)	0.00	0.00	0.96	(0.97)	3.79
M0W	2.14	0.07	0.02	(0.05)	3.05	(2.70)	6.84	(6.40)	17.32
GZ3	1.44	(0.03)	0.00	(0.04)	0.00	0.00	2.33	(4.17)	8.89
39M	1.16	0.03	0.02	(0.09)	1.44	(1.46)	2.52	(2.67)	11.58
28Y	1.63	0.05	0.02	(0.44)	2.15	(2.13)	4.90	(4.39)	14.81
TF7A	1.10	(0.01)	0.00	0.05	0.00	0.00	2.39	(2.21)	6.73
MOB	1.19	0.11	0.08	(1.22)	1.18	(1.31)	3.35	(1.95)	5.94
T6W	2.14	(0.04)	0.00	0.21	0.00	0.00	5.41	(5.00)	17.60

Be your own money manager

Our tools can tell you how much better you can do entering a position in EVS Broadcast 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 Economic Indicators Now

Economic Indicators

Top statistical indicators that provide insights into how an economy is performing

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