Electro Sensors Correlations

ELSE Stock

USD 4.58 0.05 1.10%

The correlation of Electro Sensors 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.

Electro Sensors Correlation With Market

Good diversification

The correlation between Electro Sensors and DJI is -0.1 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Electro Sensors and DJI in the same portfolio, assuming nothing else is changed.

Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in Electro Sensors. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in state.

For information on how to trade Electro Stock refer to our How to Trade Electro Stock guide.

Moving together with Electro Stock

0.66	KNW	Know Labs	Pair Corr
0.74	MKSI	MKS Instruments	Pair Corr
0.69	ODYS	Odysightai Common Stock	Pair Corr
0.77	SVRE	SaverOne 2014	Pair Corr
0.68	CGNX	Cognex	Pair Corr
0.76	COHR	Coherent	Pair Corr
0.71	AI	C3 Ai Inc	Pair Corr
0.65	BL	Blackline	Pair Corr

Moving against Electro Stock

0.77	ESE	ESCO Technologies	Pair Corr
0.52	SVREW	SaverOne 2014	Pair Corr
0.49	TDY	Teledyne Technologies	Pair Corr
0.43	GRMN	Garmin	Pair Corr
0.36	FARO	FARO Technologies	Pair Corr
0.62	JG	Aurora Mobile	Pair Corr
0.56	MQ	Marqeta	Pair Corr

Related Correlations Analysis

	MINDP	SOTK	VPG	KYCCF	LUNA	TRMB	CODAF	NSCIF	ACFN	GNSS
MINDP		0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	MINDP
SOTK	0.0		0.22	0.21	0.0	0.28	0.0	-0.22	0.0	0.05	SOTK
VPG	0.0	0.22		0.2	0.0	0.5	0.0	-0.18	0.0	0.68	VPG
KYCCF	0.0	0.21	0.2		0.0	0.59	0.0	-0.01	0.0	0.4	KYCCF
LUNA	0.0	0.0	0.0	0.0		0.0	0.0	0.0	0.0	0.0	LUNA
TRMB	0.0	0.28	0.5	0.59	0.0		0.0	-0.02	0.0	0.77	TRMB
CODAF	0.0	0.0	0.0	0.0	0.0	0.0		0.0	0.0	0.0	CODAF
NSCIF	0.0	-0.22	-0.18	-0.01	0.0	-0.02	0.0		0.0	0.14	NSCIF
ACFN	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0		0.0	ACFN
GNSS	0.0	0.05	0.68	0.4	0.0	0.77	0.0	0.14	0.0		GNSS
	MINDP	SOTK	VPG	KYCCF	LUNA	TRMB	CODAF	NSCIF	ACFN	GNSS

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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

GNSS	+ 0.77	TRMB
GNSS	+ 0.68	VPG
TRMB	+ 0.59	KYCCF
TRMB	+ 0.5	VPG
GNSS	+ 0.4	KYCCF
TRMB	+ 0.28	SOTK

High negative correlations

NSCIF	- 0.22	SOTK
NSCIF	- 0.18	VPG
NSCIF	- 0.02	TRMB
NSCIF	- 0.01	KYCCF
GNSS	- 0.0	ACFN
ACFN	- 0.0	NSCIF

Risk-Adjusted Indicators

There is a big difference between Electro Stock performing well and Electro Sensors 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 Electro Sensors' 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
MINDP	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
SOTK	2.19	(0.36)	0.00	(0.54)	0.00	0.00	4.64	(4.73)	15.16
VPG	1.65	(0.04)	0.00	(0.11)	0.00	0.00	3.57	(3.34)	14.71
KYCCF	1.99	(0.08)	0.00	0.21	0.00	0.00	4.84	(4.76)	11.50
LUNA	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
TRMB	1.26	0.01	0.00	(0.07)	0.00	0.00	2.02	(3.12)	5.78
CODAF	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NSCIF	2.17	0.01	0.02	(0.08)	2.84	(8.05)	9.52	(8.00)	24.49
ACFN	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
GNSS	3.27	0.18	0.02	0.02	4.34	(3.64)	7.29	(8.07)	32.38

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