Amada Correlations

AMDLY Stock

USD 37.85 0.00 0.00%

The current 90-days correlation between Amada and Broadstone Net Lease is -0.23 (i.e., Very good diversification). The correlation of Amada 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.

Amada Correlation With Market

Average diversification

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

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

Moving together with Amada OTC Stock

0.68

Moving against Amada OTC Stock

0.58	RIVN	Rivian Automotive Aggressive Push	Pair Corr
0.33	LCID	Lucid Group Aggressive Push	Pair Corr

Related Correlations Analysis

	GSL-PB	AMGN	BNL	VALN	CAR	MMSI	CNTA	ALVO
GSL-PB		-0.17	0.15	-0.57	0.24	0.1	0.61	0.48	GSL-PB
AMGN	-0.17		0.73	0.75	-0.73	-0.61	-0.52	-0.34	AMGN
BNL	0.15	0.73		0.51	-0.65	-0.67	-0.31	-0.26	BNL
VALN	-0.57	0.75	0.51		-0.77	-0.7	-0.85	-0.43	VALN
CAR	0.24	-0.73	-0.65	-0.77		0.73	0.64	0.35	CAR
MMSI	0.1	-0.61	-0.67	-0.7	0.73		0.61	-0.04	MMSI
CNTA	0.61	-0.52	-0.31	-0.85	0.64	0.61		0.24	CNTA
ALVO	0.48	-0.34	-0.26	-0.43	0.35	-0.04	0.24		ALVO
	GSL-PB	AMGN	BNL	VALN	CAR	MMSI	CNTA	ALVO

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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

VALN	+ 0.75	AMGN
BNL	+ 0.73	AMGN
MMSI	+ 0.73	CAR
CNTA	+ 0.64	CAR
CNTA	+ 0.61	GSL-PB
CNTA	+ 0.61	MMSI

High negative correlations

CNTA	- 0.85	VALN
CAR	- 0.77	VALN
CAR	- 0.73	AMGN
MMSI	- 0.7	VALN
MMSI	- 0.67	BNL
CAR	- 0.65	BNL

Risk-Adjusted Indicators

There is a big difference between Amada OTC Stock performing well and Amada OTC Stock 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 Amada'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
GSL-PB	0.43	0.01	(0.16)	0.18	0.47	(0.50)	1.02	(0.80)	4.03
AMGN	1.09	(0.33)	0.00	(0.23)	0.00	0.00	1.67	(4.16)	9.43
BNL	0.75	(0.12)	0.00	(0.18)	0.00	0.00	1.46	(1.71)	5.03
VALN	1.95	(1.00)	0.00	8.75	0.00	0.00	3.20	(5.86)	12.07
CAR	2.91	0.00	0.07	0.12	3.00	(3.34)	6.48	(5.52)	16.84
MMSI	0.88	0.11	0.05	0.33	0.77	(0.95)	2.11	(1.23)	6.42
CNTA	2.83	0.26	0.08	0.35	3.04	(3.22)	8.37	(5.69)	21.09
ALVO	1.17	0.04	(0.06)	(0.08)	1.53	(1.31)	3.15	(2.83)	8.63

Be your own money manager

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