TOHOKU EL Correlations

TKT Stock

EUR 6.60 0.05 0.76%

The current 90-days correlation between TOHOKU EL PWR and AMAG Austria Metall is -0.01 (i.e., Good diversification). The correlation of TOHOKU EL 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.

TOHOKU EL Correlation With Market

Significant diversification

The correlation between TOHOKU EL PWR and DJI is 0.07 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding TOHOKU EL PWR and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with TOHOKU Stock

0.73	HNM	Ormat Technologies	Pair Corr
0.94	59K	CHUGOKU EL PWR	Pair Corr
0.91	6HO	HOKURIKU EL PWR	Pair Corr
0.63	AMZ	Amazon Inc	Pair Corr
0.88	HHP2	Hon Hai Precision	Pair Corr
0.89	VOWB	VOLKSWAGEN AG VZ	Pair Corr
0.88	VOW3	Volkswagen AG VZO	Pair Corr
0.88	VOW3	Volkswagen AG	Pair Corr
0.89	VOW	Volkswagen AG	Pair Corr
0.7	HUEC	Hubbell Incorporated	Pair Corr
0.78	36L	361 DEGREES INTL	Pair Corr
0.79	ABEA	Alphabet Class A	Pair Corr
0.77	IKP	INDAH KIAT PULP	Pair Corr

Moving against TOHOKU Stock

0.77	CSA	Accenture plc	Pair Corr
0.66	ETG	EnviTec Biogas AG	Pair Corr
0.64	OEW	VERBUND AG ADR	Pair Corr
0.63	E908	Lyxor 1	Pair Corr
0.52	FOT	Fortum Oyj	Pair Corr
0.33	DBPD	Xtrackers ShortDAX	Pair Corr

Related Correlations Analysis

	N9L	I43	AM8	WSV2	D2V	0UI	MSI	7JZ
N9L		-0.87	-0.04	0.43	0.82	0.39	0.9	-0.79	N9L
I43	-0.87		-0.01	-0.21	-0.6	-0.4	-0.74	0.72	I43
AM8	-0.04	-0.01		-0.21	-0.04	-0.05	-0.12	0.07	AM8
WSV2	0.43	-0.21	-0.21		0.47	0.01	0.57	-0.47	WSV2
D2V	0.82	-0.6	-0.04	0.47		0.23	0.82	-0.53	D2V
0UI	0.39	-0.4	-0.05	0.01	0.23		0.45	-0.06	0UI
MSI	0.9	-0.74	-0.12	0.57	0.82	0.45		-0.65	MSI
7JZ	-0.79	0.72	0.07	-0.47	-0.53	-0.06	-0.65		7JZ
	N9L	I43	AM8	WSV2	D2V	0UI	MSI	7JZ

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

MSI	+ 0.9	N9L
D2V	+ 0.82	N9L
MSI	+ 0.82	D2V
7JZ	+ 0.72	I43
MSI	+ 0.57	WSV2
D2V	+ 0.47	WSV2

High negative correlations

I43	- 0.87	N9L
7JZ	- 0.79	N9L
MSI	- 0.74	I43
7JZ	- 0.65	MSI
D2V	- 0.6	I43
7JZ	- 0.53	D2V

Risk-Adjusted Indicators

There is a big difference between TOHOKU Stock performing well and TOHOKU EL 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 TOHOKU EL'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
N9L	1.05	0.36	0.23	2.09	0.71	(1.41)	3.03	(1.58)	5.46
I43	1.71	(0.14)	0.00	0.36	0.00	0.00	3.26	(3.35)	9.48
AM8	0.66	0.00	0.00	0.13	0.00	0.00	1.29	(1.69)	5.02
WSV2	0.93	(0.07)	0.00	(0.09)	0.00	0.00	2.08	(1.90)	8.44
D2V	1.82	0.34	0.10	0.82	2.40	(2.34)	5.56	(2.63)	18.27
0UI	1.47	(0.01)	(0.04)	0.08	1.72	(1.72)	3.21	(3.03)	8.28
MSI	1.11	0.14	0.05	0.42	1.04	(1.56)	3.13	(2.00)	10.89
7JZ	2.44	(0.03)	0.00	0.16	0.00	0.00	6.09	(6.73)	16.26

Be your own money manager

Our tools can tell you how much better you can do entering a position in TOHOKU EL 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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