ELECOM CO Correlations

9EL Stock

EUR 10.10 0.10 0.98%

The current 90-days correlation between ELECOM LTD and HP Inc is 0.14 (i.e., Average diversification). The correlation of ELECOM CO 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.

ELECOM CO Correlation With Market

Good diversification

The correlation between ELECOM LTD and DJI is -0.07 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding ELECOM LTD and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with ELECOM Stock

0.88	6C2	Corsair Gaming	Pair Corr
0.64	MUB	Mühlbauer Holding	Pair Corr
0.69	DP4B	AP Møller	Pair Corr
0.78	DP4A	AP Mller	Pair Corr
0.8	S0V	Seaboard	Pair Corr
0.63	LL6	MTN GROUP	Pair Corr
0.84	AG1	AUTO1 Group SE	Pair Corr
0.76	10H	Scandic Hotels Group	Pair Corr
0.76	KGHA	KGHM Polska Miedz Earnings Call This Week	Pair Corr
0.75	CN6	BII Railway Transpor	Pair Corr
0.62	RIT1	Compagnie Financire	Pair Corr
0.79	HVH	NAVIGATOR GLOB	Pair Corr
0.88	STD	STANDARD CHARTERED	Pair Corr
0.71	OTP	OTP Bank Nyrt	Pair Corr
0.77	SNM	Snam SpA	Pair Corr
0.8	YSN	secunet Security Networks Earnings Call Today	Pair Corr
0.61	MIU	SUMITOMO MITSUI T	Pair Corr
0.7	RPL	UPM Kymmene Oyj	Pair Corr
0.64	CMAB	Mapfre SA	Pair Corr
0.8	KEI	KEISEI EL RAILWAY Split	Pair Corr
0.83	USV	USS Co	Pair Corr

Moving against ELECOM Stock

0.91	NVE	NVR Inc	Pair Corr
0.84	WDC	Western Digital	Pair Corr
0.69	SE7S	SEIKO EPSON PADR	Pair Corr
0.59	XAR	XAAR PLC LS Earnings Call This Week	Pair Corr
0.53	12DA	Dell Technologies	Pair Corr
0.52	7HP	HP Inc	Pair Corr
0.49	DT8A	Datalogic SpA	Pair Corr
0.48	2N5B	Nano Dimension	Pair Corr
0.43	1Q6	Prosafe SE	Pair Corr
0.42	HHX	HAMMONIA Schiffsholding	Pair Corr

Related Correlations Analysis

	7HP	12DA	WDC	SE7S	6C2	MUB	9EL	2N5B	DT8A	XAR
7HP		0.9	0.72	0.53	-0.27	-0.37	-0.52	0.62	0.52	0.62	7HP
12DA	0.9		0.69	0.51	-0.37	-0.51	-0.53	0.67	0.57	0.55	12DA
WDC	0.72	0.69		0.51	-0.56	-0.39	-0.84	0.7	0.42	0.75	WDC
SE7S	0.53	0.51	0.51		-0.77	-0.69	-0.69	0.33	0.74	0.41	SE7S
6C2	-0.27	-0.37	-0.56	-0.77		0.81	0.88	-0.33	-0.6	-0.32	6C2
MUB	-0.37	-0.51	-0.39	-0.69	0.81		0.64	-0.25	-0.71	-0.11	MUB
9EL	-0.52	-0.53	-0.84	-0.69	0.88	0.64		-0.48	-0.49	-0.59	9EL
2N5B	0.62	0.67	0.7	0.33	-0.33	-0.25	-0.48		0.32	0.63	2N5B
DT8A	0.52	0.57	0.42	0.74	-0.6	-0.71	-0.49	0.32		0.18	DT8A
XAR	0.62	0.55	0.75	0.41	-0.32	-0.11	-0.59	0.63	0.18		XAR
	7HP	12DA	WDC	SE7S	6C2	MUB	9EL	2N5B	DT8A	XAR

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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

12DA	+ 0.9	7HP
9EL	+ 0.88	6C2
MUB	+ 0.81	6C2
XAR	+ 0.75	WDC
DT8A	+ 0.74	SE7S
WDC	+ 0.72	7HP

High negative correlations

9EL	- 0.84	WDC
6C2	- 0.77	SE7S
DT8A	- 0.71	MUB
9EL	- 0.69	SE7S
MUB	- 0.69	SE7S
DT8A	- 0.6	6C2

Risk-Adjusted Indicators

There is a big difference between ELECOM Stock performing well and ELECOM CO 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 ELECOM CO'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
7HP	1.27	(0.37)	0.00	(2.09)	0.00	0.00	2.22	(4.07)	11.61
12DA	2.65	(0.34)	0.00	(11.40)	0.00	0.00	4.94	(6.67)	15.83
WDC	2.51	(0.67)	0.00	6.29	0.00	0.00	5.01	(6.93)	29.25
SE7S	1.24	(0.17)	0.00	(0.69)	0.00	0.00	2.04	(2.61)	13.03
6C2	3.26	0.65	0.20	0.54	2.96	(4.12)	8.91	(5.34)	25.40
MUB	0.99	0.10	0.14	0.55	0.90	(1.72)	2.53	(1.52)	9.71
9EL	1.10	0.19	0.26	(1.90)	0.84	(1.61)	2.22	(1.94)	7.28
2N5B	2.63	(0.08)	0.00	(0.15)	0.00	0.00	5.93	(4.84)	21.34
DT8A	1.55	(0.17)	0.00	(2.07)	0.00	0.00	2.46	(3.36)	15.21
XAR	2.97	(0.25)	0.00	(2.63)	0.00	0.00	7.06	(6.41)	26.04

Be your own money manager

Our tools can tell you how much better you can do entering a position in ELECOM CO 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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