Murata Manufacturing Correlations

MRAAY Stock

USD 8.24 0.09 1.08%

The current 90-days correlation between Murata Manufacturing and Celestica is -0.23 (i.e., Very good diversification). 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. If the correlation is 0, the equities are not correlated; they are entirely random.

Murata Manufacturing Correlation With Market

Good diversification

The correlation between Murata Manufacturing 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 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 to buy it.

Moving together with Murata Pink Sheet

0.88	SOTGY	Sunny Optical Technology	Pair Corr
0.64	MZHOF	Mizuho Financial Normal Trading	Pair Corr
0.73	WM	Waste Management	Pair Corr
0.77	GLU	Gabelli Global Utility	Pair Corr
0.7	PLTR	Palantir Technologies Aggressive Push	Pair Corr
0.75	IBM	International Business	Pair Corr
0.71	CSCO	Cisco Systems	Pair Corr
0.75	T	ATT Inc Sell-off Trend	Pair Corr
0.82	MCD	McDonalds	Pair Corr
0.7	DD	Dupont De Nemours	Pair Corr
0.69	JNJ	Johnson Johnson Sell-off Trend	Pair Corr

Moving against Murata Pink Sheet

0.63	PPERY	Bank Mandiri Persero	Pair Corr
0.57	PPERF	Bank Mandiri Persero	Pair Corr
0.52	PBCRY	Bank Central Asia	Pair Corr
0.46	APH	Amphenol Tech Boost	Pair Corr
0.36	BKRKY	Bank Rakyat	Pair Corr
0.8	MRK	Merck Company	Pair Corr
0.56	CAT	Caterpillar	Pair Corr
0.51	MSFT	Microsoft Aggressive Push	Pair Corr

Related Correlations Analysis

	CLS	FLEX	OSIS	DAIO	MEI	BHE	BELFB	OLED	WBX	KULR
CLS		0.84	0.53	0.77	0.39	0.13	0.26	-0.48	0.36	0.07	CLS
FLEX	0.84		0.18	0.87	0.72	0.55	0.35	-0.48	0.64	0.42	FLEX
OSIS	0.53	0.18		0.24	-0.19	-0.55	0.18	-0.13	-0.29	-0.42	OSIS
DAIO	0.77	0.87	0.24		0.61	0.31	0.28	-0.48	0.62	0.38	DAIO
MEI	0.39	0.72	-0.19	0.61		0.77	0.67	-0.19	0.76	0.55	MEI
BHE	0.13	0.55	-0.55	0.31	0.77		0.34	-0.09	0.66	0.67	BHE
BELFB	0.26	0.35	0.18	0.28	0.67	0.34		0.11	0.42	0.2	BELFB
OLED	-0.48	-0.48	-0.13	-0.48	-0.19	-0.09	0.11		-0.12	-0.2	OLED
WBX	0.36	0.64	-0.29	0.62	0.76	0.66	0.42	-0.12		0.48	WBX
KULR	0.07	0.42	-0.42	0.38	0.55	0.67	0.2	-0.2	0.48		KULR
	CLS	FLEX	OSIS	DAIO	MEI	BHE	BELFB	OLED	WBX	KULR

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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

DAIO	+ 0.87	FLEX
FLEX	+ 0.84	CLS
DAIO	+ 0.77	CLS
BHE	+ 0.77	MEI
WBX	+ 0.76	MEI
MEI	+ 0.72	FLEX

High negative correlations

BHE	- 0.55	OSIS
OLED	- 0.48	DAIO
OLED	- 0.48	FLEX
OLED	- 0.48	CLS
KULR	- 0.42	OSIS
WBX	- 0.29	OSIS

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
CLS	4.08	0.27	0.03	0.10	7.02	(3.74)	8.16	(7.29)	32.59
FLEX	2.03	0.05	0.01	0.00	3.35	(1.83)	3.63	(4.80)	16.57
OSIS	2.02	0.23	0.08	0.12	2.37	(2.14)	4.92	(4.10)	19.95
DAIO	2.05	(0.15)	0.00	(2.26)	0.00	0.00	4.35	(3.47)	17.38
MEI	3.17	(0.70)	0.00	(0.31)	0.00	0.00	5.37	(6.72)	38.95
BHE	1.50	(0.20)	0.00	(0.25)	0.00	0.00	2.85	(3.52)	10.57
BELFB	1.69	(0.15)	0.00	(0.24)	0.00	0.00	3.66	(3.23)	12.43
OLED	1.77	0.00	0.00	(0.03)	0.00	0.00	3.53	(4.32)	13.32
WBX	4.69	(0.32)	0.00	(0.89)	0.00	0.00	10.42	(10.20)	45.36
KULR	8.55	1.02	0.12	0.28	7.36	(11.75)	28.08	(14.25)	60.30

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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