Murata Manufacturing Correlations

MRAAF Stock

USD 16.86 0.31 1.87%

The correlation of Murata Manufacturing 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.

Murata Manufacturing Correlation With Market

Good diversification

The correlation between Murata Manufacturing Co and DJI is -0.12 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Murata Manufacturing Co and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Murata Pink Sheet

0.61	SOTGY	Sunny Optical Technology	Pair Corr
0.62	T	ATT Inc Aggressive Push	Pair Corr
0.66	MCD	McDonalds	Pair Corr
0.62	JNJ	Johnson Johnson	Pair Corr

Moving against Murata Pink Sheet

0.55	PPERY	Bank Mandiri Persero	Pair Corr
0.48	APH	Amphenol	Pair Corr
0.48	PBCRY	Bank Central Asia	Pair Corr
0.47	PPERF	Bank Mandiri Persero	Pair Corr
0.46	BKRKY	Bank Rakyat	Pair Corr
0.53	MSFT	Microsoft Aggressive Push	Pair Corr
0.5	CAT	Caterpillar	Pair Corr
0.45	AXP	American Express	Pair Corr
0.38	MRK	Merck Company	Pair Corr
0.34	BAC	Bank of America Aggressive Push	Pair Corr
0.34	HPQ	HP Inc	Pair Corr

Related Correlations Analysis

	TTDKY	OMRNY	LGL	DAIO	SANM	PLXS	FLEX	BHE	CTS	JBL
TTDKY		0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	TTDKY
OMRNY	0.0		-0.02	0.36	0.03	0.26	0.37	0.31	0.45	0.25	OMRNY
LGL	0.0	-0.02		0.38	0.64	-0.2	0.45	-0.18	-0.27	0.66	LGL
DAIO	0.0	0.36	0.38		0.77	0.47	0.89	0.41	0.5	0.85	DAIO
SANM	0.0	0.03	0.64	0.77		0.09	0.78	0.07	0.03	0.89	SANM
PLXS	0.0	0.26	-0.2	0.47	0.09		0.59	0.97	0.93	0.31	PLXS
FLEX	0.0	0.37	0.45	0.89	0.78	0.59		0.58	0.54	0.92	FLEX
BHE	0.0	0.31	-0.18	0.41	0.07	0.97	0.58		0.92	0.31	BHE
CTS	0.0	0.45	-0.27	0.5	0.03	0.93	0.54	0.92		0.27	CTS
JBL	0.0	0.25	0.66	0.85	0.89	0.31	0.92	0.31	0.27		JBL
	TTDKY	OMRNY	LGL	DAIO	SANM	PLXS	FLEX	BHE	CTS	JBL

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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

BHE	+ 0.97	PLXS
CTS	+ 0.93	PLXS
JBL	+ 0.92	FLEX
CTS	+ 0.92	BHE
FLEX	+ 0.89	DAIO
JBL	+ 0.89	SANM

High negative correlations

CTS	- 0.27	LGL
PLXS	- 0.2	LGL
BHE	- 0.18	LGL
LGL	- 0.02	OMRNY
JBL	- 0.0	TTDKY
CTS	- 0.0	TTDKY

Risk-Adjusted Indicators

There is a big difference between Murata Pink Sheet performing well and Murata Manufacturing 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 Murata Manufacturing'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
TTDKY	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
OMRNY	1.51	(0.21)	0.00	(0.35)	0.00	0.00	3.03	(3.00)	9.75
LGL	3.03	0.19	0.05	0.25	3.25	(3.54)	6.69	(4.23)	18.65
DAIO	2.03	(0.17)	0.00	(0.14)	0.00	0.00	4.35	(3.47)	17.38
SANM	1.48	0.00	0.00	0.00	2.32	(1.41)	3.18	(3.21)	13.03
PLXS	1.38	(0.32)	0.00	(0.34)	0.00	0.00	2.35	(3.00)	12.43
FLEX	2.03	0.00	0.00	0.00	3.35	(1.83)	3.63	(4.80)	16.57
BHE	1.49	(0.22)	0.00	(0.23)	0.00	0.00	2.85	(3.52)	10.57
CTS	1.29	(0.36)	0.00	(0.31)	0.00	0.00	2.32	(3.56)	6.79
JBL	1.69	0.17	0.06	0.12	2.54	(1.65)	3.27	(3.42)	15.22

Be your own money manager

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