TECO 2030 Correlations

TECFF Stock

USD 0 0.00 0.00%

The current 90-days correlation between TECO 2030 ASA and Luxfer Holdings PLC is -0.07 (i.e., Good diversification). The correlation of TECO 2030 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.

The ability to find closely correlated positions to TECO 2030 could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace TECO 2030 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 TECO 2030 - 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 TECO 2030 ASA to buy it.

Moving together with TECO Pink Sheet

0.62	ITW	Illinois Tool Works	Pair Corr
0.64	HPQ	HP Inc	Pair Corr
0.61	DIS	Walt Disney	Pair Corr

Moving against TECO Pink Sheet

0.54	SSNLF	Samsung Electronics	Pair Corr
0.45	MBFJF	Mitsubishi UFJ Financial	Pair Corr
0.36	SMAWF	Siemens AG Class	Pair Corr
0.66	BA	Boeing	Pair Corr
0.35	PFE	Pfizer Inc	Pair Corr

Related Correlations Analysis

	SBGSY	NRXXY	XJNGF	NRDXF	SMCAY	SBGSF	ATLKY	FANUY	SIEGY	EPAC
SBGSY		-0.02	0.22	0.05	0.14	0.96	0.31	0.16	0.0	0.08	SBGSY
NRXXY	-0.02		0.18	0.65	0.12	-0.05	-0.54	-0.52	0.0	0.19	NRXXY
XJNGF	0.22	0.18		-0.28	0.67	0.15	-0.47	-0.51	0.0	-0.28	XJNGF
NRDXF	0.05	0.65	-0.28		-0.11	0.05	-0.09	-0.06	0.0	0.22	NRDXF
SMCAY	0.14	0.12	0.67	-0.11		0.08	-0.26	-0.39	0.0	0.17	SMCAY
SBGSF	0.96	-0.05	0.15	0.05	0.08		0.33	0.19	0.0	0.07	SBGSF
ATLKY	0.31	-0.54	-0.47	-0.09	-0.26	0.33		0.86	0.0	0.3	ATLKY
FANUY	0.16	-0.52	-0.51	-0.06	-0.39	0.19	0.86		0.0	0.06	FANUY
SIEGY	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0		0.0	SIEGY
EPAC	0.08	0.19	-0.28	0.22	0.17	0.07	0.3	0.06	0.0		EPAC
	SBGSY	NRXXY	XJNGF	NRDXF	SMCAY	SBGSF	ATLKY	FANUY	SIEGY	EPAC

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

Please upgrade your account to get full access to Macroaxis premium features

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

SBGSF	+ 0.96	SBGSY
FANUY	+ 0.86	ATLKY
SMCAY	+ 0.67	XJNGF
NRDXF	+ 0.65	NRXXY
ATLKY	+ 0.33	SBGSF
ATLKY	+ 0.31	SBGSY

High negative correlations

ATLKY	- 0.54	NRXXY
FANUY	- 0.52	NRXXY
FANUY	- 0.51	XJNGF
ATLKY	- 0.47	XJNGF
FANUY	- 0.39	SMCAY
EPAC	- 0.28	XJNGF

Risk-Adjusted Indicators

There is a big difference between TECO Pink Sheet performing well and TECO 2030 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 TECO 2030'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
SBGSY	1.54	(0.05)	0.00	0.40	0.00	0.00	2.66	(3.45)	12.73
NRXXY	0.83	(0.18)	0.00	0.84	0.00	0.00	0.00	0.00	11.92
XJNGF	4.02	0.46	0.06	1.13	4.68	(9.31)	19.40	(7.87)	49.58
NRDXF	0.91	(0.06)	0.00	0.29	0.00	0.00	2.39	0.00	18.06
SMCAY	1.39	(0.28)	0.00	(0.63)	0.00	0.00	2.79	(3.05)	10.59
SBGSF	2.06	(0.06)	0.00	0.18	0.00	0.00	4.62	(3.61)	14.12
ATLKY	1.11	0.14	0.09	0.29	1.42	(1.10)	2.24	(2.55)	6.23
FANUY	1.20	0.14	0.09	0.19	1.44	(1.41)	3.07	(2.46)	11.40
SIEGY	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
EPAC	1.27	(0.03)	0.00	(0.07)	0.00	0.00	2.10	(2.83)	5.93

Be your own money manager

Our tools can tell you how much better you can do entering a position in TECO 2030 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.

Did you try this?

Run Premium Stories Now

Premium Stories

Follow Macroaxis premium stories from verified contributors across different equity types, categories and coverage scope

All Next

Launch Module

TECO 2030 Corporate Management

Tore Enger	Group Officer	Profile
TorErik Hoftun	VP Operations	Profile
Erling Hoftun	Chief AS	Profile
Bettina Nowak	Chief Inc	Profile
Shyam Thapa	Chief Officer	Profile
Pal Johnsen	Chief Officer	Profile
Arild Eiken	Chief Officer	Profile

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2024 Macroaxis LLC