SOCKET MOBILE Correlations

Stocks . Germany . 
Stock . SOCKET MOBILE NEW
SNB1 Stock  EUR 1.26  0.01  0.79%   
The current 90-days correlation between SOCKET MOBILE NEW and Apple Inc is -0.04 (i.e., Good diversification). The correlation of SOCKET MOBILE 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.

SOCKET MOBILE Correlation With Market

Significant diversification

The correlation between SOCKET MOBILE NEW and DJI is 0.05 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding SOCKET MOBILE NEW and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to SOCKET MOBILE could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace SOCKET MOBILE 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 SOCKET MOBILE - 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 SOCKET MOBILE NEW to buy it.

Moving together with SOCKET Stock

  0.76APC Apple IncPairCorr
  0.76APC Apple IncPairCorr
  0.76APC Apple IncPairCorr
  0.76APC Apple IncPairCorr
  0.75APC Apple IncPairCorr
  0.76APC Apple IncPairCorr
  0.76MSF MicrosoftPairCorr
  0.76MSF MicrosoftPairCorr
  0.75MSF MicrosoftPairCorr
  0.76MSF MicrosoftPairCorr
  0.9WMT WalmartPairCorr
  0.9WMT WalmartPairCorr
  0.75AMZ Amazon IncPairCorr
  0.74AMZ Amazon IncPairCorr

Moving against SOCKET Stock

  0.73VOWB VOLKSWAGEN AG VZPairCorr
  0.72VOW Volkswagen AGPairCorr
  0.69VOW3 Volkswagen AG VZOPairCorr
  0.69VOW3 Volkswagen AGPairCorr
  0.51DBPD Xtrackers ShortDAXPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between SOCKET Stock performing well and SOCKET MOBILE 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 SOCKET MOBILE'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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
APC  0.93  0.22  0.16 (1.70) 1.02 
(1.00)
 1.81 
(1.96)
 5.21 
APC  0.88  0.22  0.17 (5.05) 1.03 
(0.95)
 1.88 
(1.73)
 5.24 
APC  0.89  0.22  0.18 (1.04) 0.92 
(0.95)
 2.06 
(1.83)
 4.57 
APC  0.94  0.22  0.14  2.26  1.18 
(0.96)
 2.22 
(2.12)
 6.45 
APC  0.99  0.22  0.18 (0.85) 0.89 
(1.14)
 2.83 
(2.01)
 5.24 
APC  0.90  0.22  0.16 (1.89) 1.12 
(0.96)
 1.88 
(1.78)
 6.46 
MSF  0.96  0.10  0.06 (1.29) 1.29 
(1.13)
 2.55 
(1.61)
 8.71 
MSF  1.02  0.10  0.06 (0.52) 1.39 
(1.13)
 2.35 
(1.92)
 9.11 
MSF  1.03  0.11  0.06 (0.77) 1.51 
(1.18)
 2.42 
(1.93)
 11.42 
MSF  0.90  0.10  0.05 (1.00) 1.34 
(0.97)
 2.04 
(1.84)
 8.79 

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Our tools can tell you how much better you can do entering a position in SOCKET MOBILE 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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