SERI INDUSTRIAL Correlations

PCHP Stock

1.69 0.03 1.74%

The current 90-days correlation between SERI INDUSTRIAL EO and Perdoceo Education is 0.11 (i.e., Average diversification). The correlation of SERI INDUSTRIAL 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.

SERI INDUSTRIAL Correlation With Market

Good diversification

The correlation between SERI INDUSTRIAL EO and DJI is -0.02 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding SERI INDUSTRIAL EO and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with SERI Stock

0.76	APC	Apple Inc	Pair Corr
0.76	APC	Apple Inc	Pair Corr
0.76	APC	Apple Inc	Pair Corr
0.76	APC	Apple Inc	Pair Corr
0.76	APC	Apple Inc	Pair Corr
0.76	APC	Apple Inc	Pair Corr
0.88	MSF	Microsoft	Pair Corr
0.88	MSF	Microsoft	Pair Corr
0.87	MSF	Microsoft	Pair Corr
0.87	MSF	Microsoft	Pair Corr
0.8	DBPD	Xtrackers ShortDAX	Pair Corr

Moving against SERI Stock

0.88	TKA	thyssenkrupp AG	Pair Corr
0.84	JYS1	JYSKE BANK	Pair Corr
0.83	BSN	Danone SA	Pair Corr
0.83	5TP	BLUE LABEL	Pair Corr
0.8	DBPE	Xtrackers LevDAX	Pair Corr
0.78	3RE	Rejlerkoncernen AB	Pair Corr
0.62	KEI	KEISEI EL RAILWAY Split	Pair Corr
0.62	E908	Lyxor 1	Pair Corr
0.61	TLLB	Trelleborg AB	Pair Corr
0.52	ROM	Rohm Co	Pair Corr
0.46	MRG	Outcrop Silver Gold	Pair Corr

Related Correlations Analysis

	CE1	ERT	1C6	MEC	LGLG	UWV	TG9	CEK
CE1		-0.17	0.22	0.73	0.51	0.49	0.77	-0.81	CE1
ERT	-0.17		-0.58	0.35	0.41	0.13	0.11	-0.2	ERT
1C6	0.22	-0.58		-0.31	-0.2	0.12	-0.14	0.07	1C6
MEC	0.73	0.35	-0.31		0.8	0.49	0.78	-0.85	MEC
LGLG	0.51	0.41	-0.2	0.8		0.4	0.54	-0.79	LGLG
UWV	0.49	0.13	0.12	0.49	0.4		0.57	-0.51	UWV
TG9	0.77	0.11	-0.14	0.78	0.54	0.57		-0.77	TG9
CEK	-0.81	-0.2	0.07	-0.85	-0.79	-0.51	-0.77		CEK
	CE1	ERT	1C6	MEC	LGLG	UWV	TG9	CEK

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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

LGLG	+ 0.8	MEC
TG9	+ 0.78	MEC
TG9	+ 0.77	CE1
MEC	+ 0.73	CE1
TG9	+ 0.57	UWV
TG9	+ 0.54	LGLG

High negative correlations

CEK	- 0.85	MEC
CEK	- 0.81	CE1
CEK	- 0.79	LGLG
CEK	- 0.77	TG9
1C6	- 0.58	ERT
CEK	- 0.51	UWV

Risk-Adjusted Indicators

There is a big difference between SERI Stock performing well and SERI INDUSTRIAL 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 SERI INDUSTRIAL'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
CE1	1.47	(0.22)	0.00	1.64	0.00	0.00	2.43	(3.39)	9.14
ERT	1.41	(0.23)	0.00	(10.57)	0.00	0.00	2.87	(2.39)	13.88
1C6	1.82	0.03	0.04	(0.21)	2.20	(2.46)	4.38	(4.54)	15.50
MEC	2.02	(0.32)	0.00	(0.94)	0.00	0.00	4.81	(4.88)	11.54
LGLG	1.55	(0.19)	0.00	0.16	0.00	0.00	3.51	(3.88)	13.65
UWV	2.90	(0.02)	0.00	(0.09)	0.00	0.00	6.21	(5.70)	24.40
TG9	1.82	(0.10)	0.00	(17.80)	0.00	0.00	3.82	(5.23)	11.64
CEK	2.85	0.77	0.19	0.96	3.24	(3.49)	11.11	(5.08)	28.29

SERI INDUSTRIAL Related Equities

One of the popular trading techniques among algorithmic traders is to use market-neutral strategies where every trade hedges away some risk. Because there are two separate transactions required, even if one position performs unexpectedly, the other equity can make up some of the losses. Below are some of the equities that can be combined with SERI INDUSTRIAL stock to make a market-neutral strategy. Peer analysis of SERI INDUSTRIAL could also be used in its relative valuation, which is a method of valuing SERI INDUSTRIAL by comparing valuation metrics with similar companies.

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