Tungray Technologies Correlations

TRSG Stock

1.74 0.02 1.14%

The current 90-days correlation between Tungray Technologies and BlueScope Steel Ltd is -0.12 (i.e., Good diversification). The correlation of Tungray Technologies 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.

Tungray Technologies Correlation With Market

Modest diversification

The correlation between Tungray Technologies Class and DJI is 0.2 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Tungray Technologies Class and DJI in the same portfolio, assuming nothing else is changed.

Check out World Market Map to better understand how to build diversified portfolios, which includes a position in Tungray Technologies Class. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in state.

Moving together with Tungray Stock

0.68	HPQ	HP Inc	Pair Corr
0.63	WBX	Wallbox NV	Pair Corr
0.7	AIRG	Airgain	Pair Corr
0.67	S	SentinelOne	Pair Corr
0.7	CRM	Salesforce	Pair Corr
0.64	TDC	Teradata Corp	Pair Corr
0.66	PATH	Uipath Inc	Pair Corr
0.66	SLNH	Soluna Holdings	Pair Corr
0.65	PPERF	Bank Mandiri Persero	Pair Corr
0.65	PPERY	Bank Mandiri Persero Normal Trading	Pair Corr
0.66	PBCRF	PT Bank Central	Pair Corr
0.68	BKRKY	Bank Rakyat Normal Trading	Pair Corr
0.69	TLK	Telkom Indonesia Tbk	Pair Corr

Moving against Tungray Stock

0.65	MQ	Marqeta	Pair Corr
0.33	ALTR	Altair Engineering	Pair Corr
0.31	JG	Aurora Mobile	Pair Corr
0.63	VZ	Verizon Communications	Pair Corr
0.62	JNJ	Johnson Johnson	Pair Corr
0.62	TRV	The Travelers Companies	Pair Corr
0.59	T	ATT Inc Aggressive Push	Pair Corr
0.51	WM	Waste Management	Pair Corr
0.5	XOM	Exxon Mobil Corp Earnings Call This Week	Pair Corr
0.5	MCD	McDonalds	Pair Corr
0.41	300131	ShenZhen Yitoa Intel	Pair Corr
0.4	CWCO	Consolidated Water	Pair Corr
0.4	IBM	International Business	Pair Corr
0.34	PG	Procter Gamble	Pair Corr

Related Correlations Analysis

	BLSFY	IIIN	GLW	TX	CENX	SEVT	SLOFF
BLSFY		0.4	0.0	0.45	0.11	0.0	0.0	BLSFY
IIIN	0.4		0.68	0.12	0.23	0.0	0.0	IIIN
GLW	0.0	0.68		-0.26	0.31	0.0	0.0	GLW
TX	0.45	0.12	-0.26		0.11	0.0	0.0	TX
CENX	0.11	0.23	0.31	0.11		0.0	0.0	CENX
SEVT	0.0	0.0	0.0	0.0	0.0		1.0	SEVT
SLOFF	0.0	0.0	0.0	0.0	0.0	1.0		SLOFF
	BLSFY	IIIN	GLW	TX	CENX	SEVT	SLOFF

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

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

SLOFF	+ 1.0	SEVT
GLW	+ 0.68	IIIN
TX	+ 0.45	BLSFY
IIIN	+ 0.4	BLSFY
CENX	+ 0.31	GLW
CENX	+ 0.23	IIIN

High negative correlations

TX	- 0.26	GLW
SLOFF	- 0.0	CENX
SEVT	- 0.0	CENX
SLOFF	- 0.0	TX
SEVT	- 0.0	TX
SLOFF	- 0.0	GLW

Risk-Adjusted Indicators

There is a big difference between Tungray Stock performing well and Tungray Technologies 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 Tungray Technologies' 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
BLSFY	2.01	0.36	0.10	0.43	2.31	(3.11)	4.82	(3.36)	20.68
IIIN	1.85	0.01	0.01	0.01	2.03	(1.96)	3.63	(3.01)	14.41
GLW	1.64	0.00	0.00	0.00	2.41	(1.63)	3.43	(3.45)	13.45
TX	1.38	0.15	0.10	1.17	1.40	(1.56)	2.58	(2.71)	7.72
CENX	3.51	0.11	0.02	0.07	4.95	(3.81)	8.04	(7.35)	23.49
SEVT	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
SLOFF	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00

Tungray Technologies Corporate Management

Yuan Gong	Chief Officer	Profile
Wee Lee	Chief Officer	Profile
Lei Yao	Chief Officer	Profile
Hangyu Qian	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