Arrow Electronics, Correlations

A2RW34 Stock

48.60 0.00 0.00%

The current 90-days correlation between Arrow Electronics, and MAHLE Metal Leve is 0.34 (i.e., Weak diversification). The correlation of Arrow Electronics, 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.

Arrow Electronics, Correlation With Market

Good diversification

The correlation between Arrow Electronics, 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 Arrow Electronics, and DJI in the same portfolio, assuming nothing else is changed.

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

Moving against Arrow Stock

0.72	BERK34	Berkshire Hathaway	Pair Corr
0.53	H1SB34	HSBC Holdings plc	Pair Corr
0.51	AMZO34	Amazon Inc	Pair Corr
0.48	AAPL34	Apple Inc	Pair Corr
0.42	MSFT34	Microsoft	Pair Corr
0.42	GOGL34	Alphabet	Pair Corr
0.36	TSMC34	Taiwan Semiconductor	Pair Corr
0.36	GOGL35	Alphabet	Pair Corr

Related Correlations Analysis

	LEVE3	H1DB34	A1MP34	A2RW34	S1IV34	STMN34	SSFO34
LEVE3		-0.7	-0.85	0.74	0.0	0.51	-0.88	LEVE3
H1DB34	-0.7		0.74	-0.48	0.0	-0.11	0.78	H1DB34
A1MP34	-0.85	0.74		-0.65	0.0	-0.36	0.96	A1MP34
A2RW34	0.74	-0.48	-0.65		0.0	0.6	-0.64	A2RW34
S1IV34	0.0	0.0	0.0	0.0		0.0	0.0	S1IV34
STMN34	0.51	-0.11	-0.36	0.6	0.0		-0.32	STMN34
SSFO34	-0.88	0.78	0.96	-0.64	0.0	-0.32		SSFO34
	LEVE3	H1DB34	A1MP34	A2RW34	S1IV34	STMN34	SSFO34

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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

SSFO34	+ 0.96	A1MP34
SSFO34	+ 0.78	H1DB34
A2RW34	+ 0.74	LEVE3
A1MP34	+ 0.74	H1DB34
STMN34	+ 0.6	A2RW34
STMN34	+ 0.51	LEVE3

High negative correlations

SSFO34	- 0.88	LEVE3
A1MP34	- 0.85	LEVE3
H1DB34	- 0.7	LEVE3
A2RW34	- 0.65	A1MP34
SSFO34	- 0.64	A2RW34
A2RW34	- 0.48	H1DB34

Risk-Adjusted Indicators

There is a big difference between Arrow Stock performing well and Arrow Electronics, 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 Arrow Electronics,'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
LEVE3	0.98	(0.14)	0.00	(1.18)	0.00	0.00	2.47	(1.78)	7.84
H1DB34	1.18	0.35	0.00	(0.84)	0.00	0.00	3.64	(0.19)	18.70
A1MP34	0.94	0.45	0.30	4.68	0.54	(1.15)	2.48	(1.51)	10.22
A2RW34	0.29	0.04	(0.05)	(0.59)	0.43	(2.47)	0.46	(0.21)	3.92
S1IV34	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
STMN34	0.79	0.04	(0.03)	(0.03)	1.36	(2.18)	2.90	(4.33)	11.14
SSFO34	1.54	0.65	0.30	158.61	1.15	(1.80)	4.91	(2.76)	13.84

Arrow Electronics, Related Equities

One of the popular trading techniques among algorithmic traders is to use market-neutral strategies where every trade hedges away some risk. Because there are two separate transactions required, even if one position performs unexpectedly, the other equity can make up some of the losses. Below are some of the equities that can be combined with Arrow Electronics, stock to make a market-neutral strategy. Peer analysis of Arrow Electronics, could also be used in its relative valuation, which is a method of valuing Arrow Electronics, by comparing valuation metrics with similar companies.

MAHLE Metal Leve HDFC Bank Limited Ameriprise Financial Arrow Electronics, SVB Financial Group STMicroelectronics NV salesforce inc American Airlines Group Alcoa Corp Apple Inc Best Buy Co Citigroup SentinelOne CVS Health Corp Chevron Corp

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