MERCURY SYSTEM Correlations

MCY Stock

EUR 59.50 2.00 3.48%

The current 90-days correlation between MERCURY SYSTEM and EAGLE MATERIALS is 0.16 (i.e., Average diversification). The correlation of MERCURY SYSTEM 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.

MERCURY SYSTEM Correlation With Market

Good diversification

The correlation between MERCURY SYSTEM and DJI is -0.19 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding MERCURY SYSTEM and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with MERCURY Stock

0.87	APC	Apple Inc	Pair Corr
0.85	APC	Apple Inc	Pair Corr
0.81	APC	Apple Inc	Pair Corr
0.86	APC	Apple Inc	Pair Corr

Moving against MERCURY Stock

0.75	E908	Lyxor 1	Pair Corr
0.7	3HB	HYBRIGENICS A	Pair Corr
0.48	W5E	Peel Mining Limited	Pair Corr

Related Correlations Analysis

	BE4A	E5M	TP3	2FB	HDI	AP2	0HF	T86
BE4A		0.79	0.61	0.82	0.74	-0.41	0.6	0.89	BE4A
E5M	0.79		0.74	0.92	0.85	-0.29	0.76	0.73	E5M
TP3	0.61	0.74		0.79	0.75	-0.43	0.83	0.61	TP3
2FB	0.82	0.92	0.79		0.92	-0.52	0.75	0.82	2FB
HDI	0.74	0.85	0.75	0.92		-0.68	0.63	0.77	HDI
AP2	-0.41	-0.29	-0.43	-0.52	-0.68		-0.23	-0.44	AP2
0HF	0.6	0.76	0.83	0.75	0.63	-0.23		0.52	0HF
T86	0.89	0.73	0.61	0.82	0.77	-0.44	0.52		T86
	BE4A	E5M	TP3	2FB	HDI	AP2	0HF	T86

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

2FB	+ 0.92	E5M
HDI	+ 0.92	2FB
T86	+ 0.89	BE4A
HDI	+ 0.85	E5M
0HF	+ 0.83	TP3
2FB	+ 0.82	BE4A

High negative correlations

AP2	- 0.68	HDI
AP2	- 0.52	2FB
T86	- 0.44	AP2
AP2	- 0.43	TP3
AP2	- 0.41	BE4A
AP2	- 0.29	E5M

Risk-Adjusted Indicators

There is a big difference between MERCURY Stock performing well and MERCURY SYSTEM 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 MERCURY SYSTEM'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
BE4A	1.94	0.18	0.06	0.31	2.27	(2.64)	5.35	(4.02)	17.85
E5M	1.48	0.17	0.05	0.95	1.76	(1.67)	3.49	(2.84)	10.17
TP3	1.02	(0.02)	(0.05)	0.04	1.14	(1.28)	2.67	(1.90)	7.73
2FB	1.61	0.02	0.03	0.10	1.62	(1.81)	4.34	(2.62)	9.89
HDI	1.12	0.16	0.07	1.42	1.16	(1.37)	2.90	(1.96)	6.73
AP2	1.46	(0.12)	0.00	(0.28)	0.00	0.00	2.74	(2.21)	18.17
0HF	2.78	0.10	0.02	0.26	3.21	(3.03)	5.60	(5.08)	22.77
T86	1.75	0.19	0.07	0.36	2.07	(2.32)	4.17	(2.94)	16.00

Be your own money manager

Our tools can tell you how much better you can do entering a position in MERCURY SYSTEM 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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