Furukawa Electric Correlations

FUWAF Stock

USD 48.30 0.00 0.00%

The current 90-days correlation between Furukawa Electric and Energizer Holdings is 0.08 (i.e., Significant diversification). The correlation of Furukawa Electric 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.

Furukawa Electric Correlation With Market

Average diversification

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

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

Moving together with Furukawa Pink Sheet

0.78	LGRDY	Legrand SA ADR	Pair Corr
0.67	SIGL	Signal Advance	Pair Corr
0.64	HNRC	Houston Natural Resources	Pair Corr
0.67	SUNFF	Sun Life Financial	Pair Corr
0.67	GLU	Gabelli Global Utility	Pair Corr
0.77	WM	Waste Management	Pair Corr

Moving against Furukawa Pink Sheet

0.87	SLF	Sun Life Financial	Pair Corr
0.76	GLUC	Glucose Health	Pair Corr
0.69	VRT	Vertiv Holdings	Pair Corr
0.32	GLE	Global Engine Group	Pair Corr
0.31	PRYMY	Prysmian SPA ADR	Pair Corr

Related Correlations Analysis

	FREY	NVT	HUBB	AEIS	VRT	ENR	NEOV	HAYW	ESP	NVX
FREY		0.69	0.71	0.48	0.75	0.72	0.81	0.42	0.75	0.89	FREY
NVT	0.69		0.95	0.72	0.77	0.81	0.72	0.6	0.65	0.85	NVT
HUBB	0.71	0.95		0.63	0.77	0.92	0.78	0.7	0.71	0.87	HUBB
AEIS	0.48	0.72	0.63		0.48	0.43	0.43	0.34	0.38	0.54	AEIS
VRT	0.75	0.77	0.77	0.48		0.64	0.55	0.27	0.65	0.79	VRT
ENR	0.72	0.81	0.92	0.43	0.64		0.87	0.78	0.68	0.86	ENR
NEOV	0.81	0.72	0.78	0.43	0.55	0.87		0.69	0.6	0.86	NEOV
HAYW	0.42	0.6	0.7	0.34	0.27	0.78	0.69		0.53	0.51	HAYW
ESP	0.75	0.65	0.71	0.38	0.65	0.68	0.6	0.53		0.71	ESP
NVX	0.89	0.85	0.87	0.54	0.79	0.86	0.86	0.51	0.71		NVX
	FREY	NVT	HUBB	AEIS	VRT	ENR	NEOV	HAYW	ESP	NVX

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

Please upgrade your account to get full access to Macroaxis premium features

Risk-Adjusted Indicators

There is a big difference between Furukawa Pink Sheet performing well and Furukawa Electric 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 Furukawa Electric'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	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
FREY	4.94	0.01	(0.02)	5.51	(5.62)	12.10	(8.76)	30.45
NVT	1.84	(0.31)	(0.31)	0.00	0.00	3.32	(4.58)	19.05
HUBB	1.53	(0.34)	(0.33)	0.00	0.00	2.61	(3.57)	11.92
AEIS	2.12	(0.12)	(0.12)	0.00	0.00	3.80	(5.23)	17.80
VRT	3.93	(0.23)	0.75	0.00	0.00	6.53	(8.44)	36.57
ENR	1.04	(0.28)	(0.64)	0.00	0.00	1.73	(2.76)	6.06
NEOV	5.02	(0.76)	0.35	0.00	0.00	10.34	(10.09)	39.40
HAYW	1.41	(0.15)	(0.18)	0.00	0.00	3.10	(3.53)	8.16
ESP	1.71	(0.01)	(0.07)	0.00	0.00	3.04	(3.33)	15.86
NVX	3.54	(0.28)	(8.29)	0.00	0.00	6.16	(7.59)	19.62

Be your own money manager

Our tools can tell you how much better you can do entering a position in Furukawa Electric 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.

Did you try this?

Run Premium Stories Now

Premium Stories

Follow Macroaxis premium stories from verified contributors across different equity types, categories and coverage scope

All Next

Launch Module

Furukawa Electric Corporate Management

Ryoji Ono	Corp Division	Profile
Keiichi Kobayashi	Managing Execu Officer, Mgr of Copper Strip & Highly-functional Materials Biz, Mgr of Copper Strip Reconstruction Project in Copper Strip & Highly-functional Materials Biz Division	Profile
Mami Masuda	Fin, Dept	Profile
Shigenobu Abe	Executive Officer, Assistant Manager of Automotive Products Business	Profile
Satoshi Miyamoto	GM VP	Profile
Hideya Moridaira	GM VP	Profile

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2024 Macroaxis LLC