PKSHA TECHNOLOGY Correlations

762 Stock

EUR 19.10 0.70 3.54%

The current 90-days correlation between PKSHA TECHNOLOGY INC and BJs Restaurants is -0.04 (i.e., Good diversification). The correlation of PKSHA TECHNOLOGY 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.

PKSHA TECHNOLOGY Correlation With Market

Average diversification

The correlation between PKSHA TECHNOLOGY INC and DJI is 0.17 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding PKSHA TECHNOLOGY INC and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with PKSHA Stock

0.7	ADB	Adobe Inc	Pair Corr
0.77	45C	CrowdStrike Holdings	Pair Corr
0.66	PTX	Palantir Technologies	Pair Corr
0.72	KKS	KASPIKZ (SPGDR	Pair Corr
0.73	526	MongoDB	Pair Corr
0.65	APC	Apple Inc	Pair Corr
0.64	APC	Apple Inc	Pair Corr
0.64	APC	Apple Inc	Pair Corr
0.65	APC	Apple Inc	Pair Corr
0.65	APC	Apple Inc	Pair Corr
0.63	APC	Apple Inc	Pair Corr

Moving against PKSHA Stock

0.64	AG9	ACTIA GROUP SA	Pair Corr
0.51	TKA	thyssenkrupp AG	Pair Corr
0.35	5TP	BLUE LABEL	Pair Corr
0.65	PKX	POSCO Holdings	Pair Corr
0.51	JYS1	JYSKE BANK	Pair Corr
0.39	BSN	Danone SA	Pair Corr

Related Correlations Analysis

	ZCG	LC0A	NEN	PB8	CLH	3PL	LPK	7QD
ZCG		-0.37	0.07	0.21	0.1	0.34	0.37	0.33	ZCG
LC0A	-0.37		0.67	0.2	0.53	-0.31	-0.41	0.38	LC0A
NEN	0.07	0.67		0.58	0.41	-0.46	-0.03	0.4	NEN
PB8	0.21	0.2	0.58		0.28	0.05	0.24	0.41	PB8
CLH	0.1	0.53	0.41	0.28		0.32	0.15	0.81	CLH
3PL	0.34	-0.31	-0.46	0.05	0.32		0.48	0.48	3PL
LPK	0.37	-0.41	-0.03	0.24	0.15	0.48		0.34	LPK
7QD	0.33	0.38	0.4	0.41	0.81	0.48	0.34		7QD
	ZCG	LC0A	NEN	PB8	CLH	3PL	LPK	7QD

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

7QD	+ 0.81	CLH
NEN	+ 0.67	LC0A
PB8	+ 0.58	NEN
CLH	+ 0.53	LC0A
LPK	+ 0.48	3PL
7QD	+ 0.48	3PL

High negative correlations

3PL	- 0.46	NEN
LPK	- 0.41	LC0A
LC0A	- 0.37	ZCG
3PL	- 0.31	LC0A
LPK	- 0.03	NEN

Risk-Adjusted Indicators

There is a big difference between PKSHA Stock performing well and PKSHA TECHNOLOGY 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 PKSHA TECHNOLOGY'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
ZCG	1.68	(0.12)	0.00	0.99	0.00	0.00	3.53	(3.49)	12.32
LC0A	2.30	0.55	0.19	1.13	2.24	(3.06)	5.88	(3.80)	20.25
NEN	2.43	0.26	0.12	0.72	2.26	(3.10)	7.31	(4.10)	19.36
PB8	2.18	(0.15)	0.00	1.12	0.00	0.00	4.78	(6.39)	15.48
CLH	0.98	0.16	0.15	0.26	1.17	(1.03)	2.15	(2.24)	7.57
3PL	1.61	(0.02)	0.00	(0.16)	0.00	0.00	2.87	(2.91)	14.61
LPK	1.72	(0.02)	0.00	(0.13)	0.00	0.00	2.88	(3.95)	18.64
7QD	3.09	0.40	0.09	0.24	3.90	(3.41)	7.43	(7.43)	18.03

Be your own money manager

Our tools can tell you how much better you can do entering a position in PKSHA TECHNOLOGY 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 Bonds Directory Now

Bonds Directory

Find actively traded corporate debentures issued by US companies

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