NXP Semiconductors Correlations

VNX Stock

EUR 214.00 5.00 2.28%

The current 90-days correlation between NXP Semiconductors and Darden Restaurants is 0.11 (i.e., Average diversification). The correlation of NXP Semiconductors 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.

NXP Semiconductors Correlation With Market

Very weak diversification

The correlation between NXP Semiconductors NV and DJI is 0.42 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding NXP Semiconductors NV and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with NXP Stock

0.7

E908

Lyxor 1

Pair Corr

Moving against NXP Stock

0.56

DBPD

Xtrackers ShortDAX

Pair Corr

Related Correlations Analysis

	2DG	DDN	RS6	QBI	HYEA	5AM	MEL	ITB	N4Q1	P5IB
2DG		-0.84	-0.89	-0.34	0.25	-0.1	-0.83	-0.87	-0.5	-0.14	2DG
DDN	-0.84		0.89	0.28	-0.31	0.15	0.78	0.79	0.46	-0.01	DDN
RS6	-0.89	0.89		0.19	-0.27	0.15	0.85	0.86	0.51	0.13	RS6
QBI	-0.34	0.28	0.19		0.07	0.13	0.17	0.23	0.16	0.04	QBI
HYEA	0.25	-0.31	-0.27	0.07		0.35	-0.31	-0.22	0.36	0.31	HYEA
5AM	-0.1	0.15	0.15	0.13	0.35		0.06	0.15	0.6	0.18	5AM
MEL	-0.83	0.78	0.85	0.17	-0.31	0.06		0.74	0.38	0.03	MEL
ITB	-0.87	0.79	0.86	0.23	-0.22	0.15	0.74		0.38	0.06	ITB
N4Q1	-0.5	0.46	0.51	0.16	0.36	0.6	0.38	0.38		0.52	N4Q1
P5IB	-0.14	-0.01	0.13	0.04	0.31	0.18	0.03	0.06	0.52		P5IB
	2DG	DDN	RS6	QBI	HYEA	5AM	MEL	ITB	N4Q1	P5IB

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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

RS6	+ 0.89	DDN
ITB	+ 0.86	RS6
MEL	+ 0.85	RS6
ITB	+ 0.79	DDN
MEL	+ 0.78	DDN
ITB	+ 0.74	MEL

High negative correlations

RS6	- 0.89	2DG
ITB	- 0.87	2DG
DDN	- 0.84	2DG
MEL	- 0.83	2DG
N4Q1	- 0.5	2DG
QBI	- 0.34	2DG

Risk-Adjusted Indicators

There is a big difference between NXP Stock performing well and NXP Semiconductors 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 NXP Semiconductors' 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
2DG	4.16	(1.39)	0.00	(0.70)	0.00	0.00	7.14	(8.57)	52.42
DDN	1.09	0.21	0.13	0.62	0.84	(1.38)	2.84	(1.73)	10.23
RS6	1.37	0.29	0.12	1.54	1.36	(1.60)	2.94	(2.17)	13.51
QBI	0.03	0.00	0.00	0.47	0.00	0.00	0.00	0.00	1.01
HYEA	2.12	0.03	(0.02)	0.27	3.08	(2.65)	5.08	(3.45)	22.02
5AM	5.22	0.33	0.03	0.55	5.98	(8.64)	13.33	(12.50)	33.04
MEL	1.00	0.05	(0.03)	0.39	1.16	(1.15)	2.53	(1.58)	6.59
ITB	0.92	0.35	0.20	(1.29)	0.60	(1.02)	2.62	(1.29)	5.83
N4Q1	1.34	0.06	0.00	0.23	1.69	(1.97)	3.88	(3.10)	9.39
P5IB	10.07	1.06	0.07	0.85	11.93	(14.02)	20.00	(16.67)	129.48

Be your own money manager

Our tools can tell you how much better you can do entering a position in NXP Semiconductors 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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