Raytech Holding Correlations

RAY Stock

1.83 0.53 40.77%

The current 90-days correlation between Raytech Holding and Park Electrochemical is 0.12 (i.e., Average diversification). The correlation of Raytech Holding 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.

Raytech Holding Correlation With Market

Good diversification

The correlation between Raytech Holding Limited and DJI is -0.04 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Raytech Holding Limited and DJI in the same portfolio, assuming nothing else is changed.

Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in Raytech Holding Limited. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in nation.

Moving against Raytech Stock

0.5	JD	JD Inc Adr	Pair Corr
0.45	VIPS	Vipshop Holdings	Pair Corr
0.43	AZO	AutoZone	Pair Corr
0.4	EYE	National Vision Holdings	Pair Corr
0.53	ORLY	OReilly Automotive	Pair Corr
0.52	GPC	Genuine Parts	Pair Corr
0.48	MELI	MercadoLibre	Pair Corr
0.41	PDD	PDD Holdings	Pair Corr
0.34	JWN	Nordstrom	Pair Corr

Related Correlations Analysis

	PKE	ELVA	STSFF	VCSA	EFRMF	COIN	UBER
PKE		0.34	0.61	-0.25	0.0	0.85	-0.46	PKE
ELVA	0.34		0.24	0.45	0.0	0.07	-0.01	ELVA
STSFF	0.61	0.24		-0.19	0.0	0.55	-0.39	STSFF
VCSA	-0.25	0.45	-0.19		0.0	-0.39	0.7	VCSA
EFRMF	0.0	0.0	0.0	0.0		0.0	0.0	EFRMF
COIN	0.85	0.07	0.55	-0.39	0.0		-0.42	COIN
UBER	-0.46	-0.01	-0.39	0.7	0.0	-0.42		UBER
	PKE	ELVA	STSFF	VCSA	EFRMF	COIN	UBER

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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

COIN	+ 0.85	PKE
UBER	+ 0.7	VCSA
STSFF	+ 0.61	PKE
COIN	+ 0.55	STSFF
VCSA	+ 0.45	ELVA
ELVA	+ 0.34	PKE

High negative correlations

UBER	- 0.46	PKE
UBER	- 0.42	COIN
COIN	- 0.39	VCSA
UBER	- 0.39	STSFF
VCSA	- 0.25	PKE
VCSA	- 0.19	STSFF

Risk-Adjusted Indicators

There is a big difference between Raytech Stock performing well and Raytech Holding 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 Raytech Holding'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
PKE	1.31	(0.09)	0.00	(0.14)	0.00	0.00	2.27	(2.98)	7.97
ELVA	3.01	0.27	0.08	0.45	3.28	(3.46)	7.54	(4.58)	17.61
STSFF	0.62	(0.07)	0.00	(0.25)	0.00	0.00	0.56	0.00	25.31
VCSA	2.04	0.55	0.22	2.22	1.85	(2.86)	4.72	(4.36)	31.66
EFRMF	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
COIN	3.61	(0.48)	0.00	(0.25)	0.00	0.00	6.94	(8.14)	26.02
UBER	1.88	0.40	0.18	0.75	2.03	(2.05)	4.72	(3.13)	12.75

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