Raytech Holding Correlations

RAY Stock

1.28 0.09 6.57%

The current 90-days correlation between Raytech Holding and Unum Group is 0.08 (i.e., Significant diversification). The correlation of Raytech Holding 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.

Raytech Holding Correlation With Market

Significant diversification

The correlation between Raytech Holding Limited and DJI is 0.03 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Raytech Holding Limited and DJI in the same portfolio, assuming nothing else is changed.

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Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in Raytech Holding Limited. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in nation.

Moving against Raytech Stock

0.66	EPSM	Epsium Enterprise	Pair Corr
0.61	EYE	National Vision Holdings	Pair Corr
0.61	LAD	Lithia Motors	Pair Corr
0.57	ASO	Academy Sports Outdoors	Pair Corr
0.55	PHH	Park Ha Biological	Pair Corr
0.54	ABG	Asbury Automotive	Pair Corr
0.52	WEYS	Weyco Group	Pair Corr
0.46	BBY	Best Buy	Pair Corr
0.67	SPWH	Sportsmans	Pair Corr
0.66	UCAR	U Power Limited	Pair Corr
0.64	VC	Visteon Corp	Pair Corr
0.63	BC	Brunswick	Pair Corr
0.62	DOOO	BRP Inc	Pair Corr
0.61	BH	Biglari Holdings	Pair Corr
0.57	IH	Ihuman Inc	Pair Corr
0.56	CPNG	Coupang LLC	Pair Corr
0.49	BOOT	Boot Barn Holdings	Pair Corr
0.48	LI	Li Auto	Pair Corr
0.48	RL	Ralph Lauren Corp	Pair Corr
0.42	GM	General Motors Aggressive Push	Pair Corr
0.4	ARHS	Arhaus Inc	Pair Corr

Related Correlations Analysis

	UNM	PINXF	DIISY	PLMR	RDN	AIZN	BUD	WDKA
UNM		0.43	0.55	0.61	0.65	0.58	0.6	0.0	UNM
PINXF	0.43		0.83	0.6	0.75	0.63	0.82	0.0	PINXF
DIISY	0.55	0.83		0.6	0.78	0.77	0.86	0.0	DIISY
PLMR	0.61	0.6	0.6		0.44	0.4	0.85	0.0	PLMR
RDN	0.65	0.75	0.78	0.44		0.82	0.68	0.0	RDN
AIZN	0.58	0.63	0.77	0.4	0.82		0.63	0.0	AIZN
BUD	0.6	0.82	0.86	0.85	0.68	0.63		0.0	BUD
WDKA	0.0	0.0	0.0	0.0	0.0	0.0	0.0		WDKA
	UNM	PINXF	DIISY	PLMR	RDN	AIZN	BUD	WDKA

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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

BUD	+ 0.86	DIISY
BUD	+ 0.85	PLMR
DIISY	+ 0.83	PINXF
BUD	+ 0.82	PINXF
AIZN	+ 0.82	RDN
RDN	+ 0.78	DIISY

High negative correlations

WDKA	- 0.0	BUD
WDKA	- 0.0	AIZN
WDKA	- 0.0	RDN
WDKA	- 0.0	PLMR
WDKA	- 0.0	DIISY
WDKA	- 0.0	PINXF

Risk-Adjusted Indicators

There is a big difference between Raytech Stock performing well and Raytech Holding 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 Raytech Holding'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
UNM	1.46	0.05	(0.02)	3.24	2.54	(1.33)	2.34	(2.24)	13.07
PINXF	1.35	0.49	0.00	(4.87)	0.00	0.00	0.00	0.00	47.22
DIISY	1.13	0.32	0.05	(0.47)	1.36	(2.47)	3.27	(2.33)	12.92
PLMR	1.84	0.11	0.00	(0.54)	2.57	(1.79)	3.42	(3.70)	14.68
RDN	1.35	0.17	0.04	(39.05)	1.76	(1.39)	2.71	(3.05)	9.48
AIZN	0.83	0.17	0.07	(3.69)	0.67	(1.07)	2.33	(1.73)	5.83
BUD	1.02	0.21	0.07	(1.02)	1.02	(1.09)	2.29	(2.04)	6.90
WDKA	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00

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