AAC TECHNOLOGHLDGADR Correlations

A2X Stock

4.10 0.04 0.99%

The correlation of AAC TECHNOLOGHLDGADR 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.

AAC TECHNOLOGHLDGADR Correlation With Market

Modest diversification

The correlation between AAC TECHNOLOGHLDGADR and DJI is 0.2 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding AAC TECHNOLOGHLDGADR and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with AAC Stock

0.67	CIS	Cisco Systems	Pair Corr
0.67	CIS	Cisco Systems	Pair Corr
0.66	MTLA	Motorola Solutions	Pair Corr
0.7	2HP	Hewlett Packard Ente	Pair Corr
0.64	ERCG	Telefonaktiebolaget	Pair Corr
0.64	ERCB	Telefonaktiebolaget	Pair Corr
0.74	WDC	WESTERN DIGITAL	Pair Corr
0.73	WDC	WESTERN DIGITAL	Pair Corr
0.72	WDC	WESTERN DIGITAL	Pair Corr
0.68	WDC	WESTERN DIGITAL	Pair Corr
0.72	WDC	Western Digital	Pair Corr
0.77	CYL	CryoLife	Pair Corr
0.78	CYL	CRYOLIFE	Pair Corr
0.63	E908	Lyxor 1	Pair Corr

Moving against AAC Stock

0.65	EII	Eisai Co	Pair Corr
0.53	DBPD	Xtrackers ShortDAX	Pair Corr

Related Correlations Analysis

	CIS	CIS	MTLA	NOA3	NOAA	FZM	2HP	ERCA	ERCG	ERCB
CIS		1.0	0.95	0.62	0.61	0.68	0.91	0.88	0.9	0.89	CIS
CIS	1.0		0.95	0.62	0.61	0.68	0.9	0.89	0.9	0.9	CIS
MTLA	0.95	0.95		0.42	0.43	0.59	0.88	0.76	0.78	0.78	MTLA
NOA3	0.62	0.62	0.42		0.94	0.59	0.5	0.8	0.79	0.79	NOA3
NOAA	0.61	0.61	0.43	0.94		0.56	0.51	0.79	0.78	0.77	NOAA
FZM	0.68	0.68	0.59	0.59	0.56		0.79	0.59	0.78	0.78	FZM
2HP	0.91	0.9	0.88	0.5	0.51	0.79		0.73	0.82	0.82	2HP
ERCA	0.88	0.89	0.76	0.8	0.79	0.59	0.73		0.93	0.93	ERCA
ERCG	0.9	0.9	0.78	0.79	0.78	0.78	0.82	0.93		1.0	ERCG
ERCB	0.89	0.9	0.78	0.79	0.77	0.78	0.82	0.93	1.0		ERCB
	CIS	CIS	MTLA	NOA3	NOAA	FZM	2HP	ERCA	ERCG	ERCB

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Risk-Adjusted Indicators

There is a big difference between AAC Stock performing well and AAC TECHNOLOGHLDGADR 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 AAC TECHNOLOGHLDGADR'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
CIS	0.98	0.30	0.18	1.46	0.71	(1.08)	2.07	(1.75)	7.07
CIS	0.79	0.30	0.25	1.09	0.41	(0.98)	1.92	(1.23)	6.13
MTLA	1.08	0.23	0.13	0.97	0.79	(1.31)	2.89	(1.68)	9.70
NOA3	1.00	0.02	(0.07)	(0.15)	1.53	(1.12)	2.09	(1.57)	15.91
NOAA	1.52	0.01	(0.05)	0.35	1.94	(1.82)	3.20	(3.46)	16.32
FZM	3.04	0.29	0.07	0.37	4.09	(3.80)	7.49	(4.35)	39.74
2HP	1.84	0.19	0.05	0.50	2.41	(1.96)	4.49	(3.62)	12.96
ERCA	1.08	0.18	0.10	0.44	0.78	(1.75)	2.00	(1.56)	18.76
ERCG	1.40	0.58	0.37	15.77	0.55	(1.81)	2.79	(2.08)	23.35
ERCB	1.41	0.56	0.36	3.91	0.55	(1.77)	2.45	(1.63)	26.14

Be your own money manager

Our tools can tell you how much better you can do entering a position in AAC TECHNOLOGHLDGADR 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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