Accsys Technologies Correlations

AXS Stock

47.35 0.40 0.84%

The current 90-days correlation between Accsys Technologies PLC and Bank of Ireland is -0.26 (i.e., Very good diversification). The correlation of Accsys Technologies 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.

Accsys Technologies Correlation With Market

Good diversification

The correlation between Accsys Technologies PLC and DJI is -0.05 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Accsys Technologies PLC and DJI in the same portfolio, assuming nothing else is changed.

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

Moving against Accsys Stock

0.79	0I9F	Digital Realty Trust	Pair Corr
0.74	DEC	Diversified Energy	Pair Corr
0.62	0K7U	News Corp Cl	Pair Corr
0.41	0K1R	Viridian Therapeutics	Pair Corr
0.36	0KIT	Pinnacle West Capital	Pair Corr

Related Correlations Analysis

	BIRG	0HF6	0GDR	0IBC	0ILW	0KS3	0LEE
BIRG		-0.81	0.75	-0.73	-0.64	0.52	-0.49	BIRG
0HF6	-0.81		-0.78	0.95	0.65	-0.52	0.49	0HF6
0GDR	0.75	-0.78		-0.68	-0.71	0.37	-0.62	0GDR
0IBC	-0.73	0.95	-0.68		0.47	-0.49	0.28	0IBC
0ILW	-0.64	0.65	-0.71	0.47		-0.47	0.79	0ILW
0KS3	0.52	-0.52	0.37	-0.49	-0.47		-0.29	0KS3
0LEE	-0.49	0.49	-0.62	0.28	0.79	-0.29		0LEE
	BIRG	0HF6	0GDR	0IBC	0ILW	0KS3	0LEE

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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

0IBC	+ 0.95	0HF6
0LEE	+ 0.79	0ILW
0GDR	+ 0.75	BIRG
0ILW	+ 0.65	0HF6
0KS3	+ 0.52	BIRG
0LEE	+ 0.49	0HF6

High negative correlations

0HF6	- 0.81	BIRG
0GDR	- 0.78	0HF6
0IBC	- 0.73	BIRG
0ILW	- 0.71	0GDR
0IBC	- 0.68	0GDR
0ILW	- 0.64	BIRG

Risk-Adjusted Indicators

There is a big difference between Accsys Stock performing well and Accsys Technologies 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 Accsys Technologies' 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
BIRG	2.02	(0.25)	0.00	(0.98)	0.00	0.00	3.93	(4.61)	14.38
0HF6	1.10	0.24	0.25	0.28	0.75	(1.35)	2.37	(1.45)	11.16
0GDR	0.62	(0.13)	0.00	(0.51)	0.00	0.00	0.98	(1.33)	4.26
0IBC	1.82	0.22	0.23	0.20	1.37	(2.27)	3.67	(2.76)	19.66
0ILW	0.72	0.08	(0.02)	1.77	1.02	(0.69)	1.51	(1.69)	4.48
0KS3	1.00	0.11	(0.02)	(0.33)	1.35	(1.00)	2.37	(2.09)	7.18
0LEE	1.23	0.11	0.02	0.33	2.99	(1.22)	3.02	(2.04)	17.87

Be your own money manager

Our tools can tell you how much better you can do entering a position in Accsys Technologies 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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Accsys Technologies Corporate Management

Elected by the shareholders, the Accsys Technologies' board of directors comprises two types of representatives: Accsys Technologies inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Accsys. The board's role is to monitor Accsys Technologies' management team and ensure that shareholders' interests are well served. Accsys Technologies' inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, Accsys Technologies' outside directors are responsible for providing unbiased perspectives on the board's policies.

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