Axcelis Technologies Correlations

XXA1 Stock

51.32 0.14 0.27%

The current 90-days correlation between Axcelis Technologies and AUSNUTRIA DAIRY is -0.01 (i.e., Good diversification). The correlation of Axcelis 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. If the correlation is 0, the equities are not correlated; they are entirely random.

Axcelis Technologies Correlation With Market

Good diversification

The correlation between Axcelis Technologies and DJI is -0.12 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Axcelis Technologies and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Axcelis Stock

0.61	APC	Apple Inc	Pair Corr
0.61	APC	Apple Inc	Pair Corr
0.61	APC	Apple Inc	Pair Corr
0.92	MSF	Microsoft	Pair Corr
0.92	MSF	Microsoft	Pair Corr
0.92	MSF	Microsoft	Pair Corr
0.92	MSF	Microsoft	Pair Corr
0.88	TEY	Teradyne	Pair Corr
0.72	03F	IDP EDUCATION LTD	Pair Corr
0.89	DBPD	Xtrackers ShortDAX	Pair Corr

Moving against Axcelis Stock

0.9	DBPE	Xtrackers LevDAX	Pair Corr
0.77	E908	Lyxor 1	Pair Corr
0.76	EUH	Eurasia Mining Plc	Pair Corr

Related Correlations Analysis

	6AH	C3W	8SF	FOJ1	LA3A	LWF	CE1	DVY
6AH		-0.42	0.24	-0.34	-0.34	-0.44	-0.63	-0.19	6AH
C3W	-0.42		-0.08	0.42	-0.17	0.69	0.68	0.18	C3W
8SF	0.24	-0.08		0.45	-0.11	0.12	-0.24	-0.16	8SF
FOJ1	-0.34	0.42	0.45		0.33	0.39	0.47	0.29	FOJ1
LA3A	-0.34	-0.17	-0.11	0.33		-0.13	0.46	0.64	LA3A
LWF	-0.44	0.69	0.12	0.39	-0.13		0.56	0.07	LWF
CE1	-0.63	0.68	-0.24	0.47	0.46	0.56		0.7	CE1
DVY	-0.19	0.18	-0.16	0.29	0.64	0.07	0.7		DVY
	6AH	C3W	8SF	FOJ1	LA3A	LWF	CE1	DVY

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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

DVY	+ 0.7	CE1
LWF	+ 0.69	C3W
CE1	+ 0.68	C3W
DVY	+ 0.64	LA3A
CE1	+ 0.56	LWF
CE1	+ 0.47	FOJ1

High negative correlations

CE1	- 0.63	6AH
LWF	- 0.44	6AH
C3W	- 0.42	6AH
LA3A	- 0.34	6AH
FOJ1	- 0.34	6AH
CE1	- 0.24	8SF

Risk-Adjusted Indicators

There is a big difference between Axcelis Stock performing well and Axcelis 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 Axcelis 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
6AH	0.77	0.28	0.00	0.72	0.00	0.00	0.00	0.00	21.64
C3W	2.06	(0.45)	0.00	(1.79)	0.00	0.00	3.45	(5.26)	27.76
8SF	1.20	0.06	0.05	0.12	1.55	(1.33)	2.71	(2.65)	8.66
FOJ1	0.96	(0.03)	0.00	(0.13)	0.00	0.00	2.65	(2.65)	8.13
LA3A	1.22	(0.03)	0.00	(0.45)	0.00	0.00	2.82	(2.22)	9.73
LWF	1.46	(0.06)	0.00	(0.33)	0.00	0.00	2.80	(3.33)	16.34
CE1	1.33	(0.18)	0.00	(0.77)	0.00	0.00	2.25	(3.39)	9.14
DVY	1.79	0.13	0.07	(1.34)	2.00	(2.42)	4.09	(3.51)	10.17

Be your own money manager

Our tools can tell you how much better you can do entering a position in Axcelis Technologies 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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