Innovative Technology Correlations
| ITD Stock | 16,300 -50.00 -0.31% |
The current 90-days correlation between Innovative Technology and Hochiminh City Metal is -0.02 (i.e., Good diversification).The correlation of Innovative Technology is a statistical measure of how it moves in relation to other instruments. The correlation coefficient ranges between -1 and +1. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5.
Correlation Against Market - Innovative Technology
Significant diversification
Across the chosen horizon, ITD and DJI show a correlation of 0.06 and fall into the Significant diversification bucket. Used correctly, the chart supports evaluation of whether adding the second position genuinely diversifies the first.
Innovative |
The correlation structure for Innovative Technology captures its relationship with related exposures. The information reflects historical correlation patterns across reporting windows. Regulatory frameworks may restrict substantially identical replacements under wash sale rules. The data is provided for reference within the analytical framework.
Moving together with Innovative Stock
Moving against Innovative Stock
| 0.73 | ABS | Binhthuan Agriculture | PairCorr |
| 0.58 | FIT | FIT INVEST JSC | PairCorr |
| 0.56 | AME | Alphanam ME | PairCorr |
| 0.55 | AAM | Mekong Fisheries JSC | PairCorr |
| 0.47 | ABT | Bentre Aquaproduct Import | PairCorr |
| 0.38 | AAA | An Phat Plastic | PairCorr |
Related Correlations Analysis
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
| High negative correlations
|
Risk-Adjusted Indicators
Evaluating Innovative Stock requires separating price momentum from underlying business quality relative to competitors. Without reviewing risk-adjusted indicators, investors may overweight recent returns and underweight the volatility required to achieve them. 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| VC6 | 3.47 | 0.12 | 0.04 | -1.09 | 4.55 | 8.84 | 19.08 | |||
| BCE | 0.51 | 0.00 | 0.08 | -0.11 | 0.64 | 1.71 | 5.90 | |||
| ICG | 1.57 | 0.02 | 0.00 | -0.04 | 0.00 | 6.18 | 17.08 | |||
| DC4 | 1.06 | -0.27 | 0.00 | -2.24 | 0.00 | 1.98 | 10.79 | |||
| PPC | 0.93 | 0.11 | 0.17 | -0.43 | 1.02 | 2.35 | 8.97 | |||
| MCO | 1.93 | -0.62 | 0.00 | 1.01 | 0.00 | 3.92 | 10.25 | |||
| HMC | 0.88 | -0.08 | 0.00 | 0.11 | 0.00 | 1.77 | 9.66 |
Be your own money manager
Optimization tools can help investors judge whether capital allocated to Innovative Technology Development is being used efficiently relative to other opportunities in the same equity universe. This is most useful when investors want to improve risk-adjusted return instead of simply owning more ideas at once.
Did you try this?
Run Fundamental Analysis Now
Fundamental AnalysisView fundamental data based on most recent published financial statements |
| All Next | Launch Module |