Keyence Correlations

KEE Stock

EUR 396.00 4.20 1.07%

The current 90-days correlation between Keyence and Keysight Technologies is 0.03 (i.e., Significant diversification). The correlation of Keyence 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.

Keyence Correlation With Market

Average diversification

The correlation between Keyence and DJI is 0.18 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Keyence and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Keyence Stock

0.63

HX1A

PT Hexindo Adiperkasa

Pair Corr

Moving against Keyence Stock

0.7	TYZ	Teledyne Technologies	Pair Corr
0.64	GQ9	SPDR Gold Shares	Pair Corr
0.51	TB5	Trimble	Pair Corr
0.51	LIE	Sun Life Financial	Pair Corr
0.41	1KT	Keysight Technologies	Pair Corr
0.67	UIPN	Unipol Gruppo Finanziario	Pair Corr
0.63	2WY	Wyndham Hotels Resorts	Pair Corr
0.62	FFH	Fifth Third Bancorp	Pair Corr
0.59	M5V	EHEALTH	Pair Corr
0.57	ADH2	Air Canada	Pair Corr
0.56	WX7	Corporate Office Pro	Pair Corr
0.56	APC	Apple Inc	Pair Corr
0.55	WD5A	TRAVEL LEISURE DL	Pair Corr
0.55	NOA3	Nokia	Pair Corr
0.52	EQN2	Equinix	Pair Corr
0.48	PPB	Flutter Entertainment PLC	Pair Corr
0.44	SYY	Sysco	Pair Corr
0.34	SK3	Smurfit Kappa Group	Pair Corr
0.71	M4I	Mastercard	Pair Corr
0.69	RC2	RCM TECHNOLOGIES	Pair Corr
0.69	2CDA	Controladora Vuela Compaa	Pair Corr
0.68	PCG6	PG E P6	Pair Corr
0.65	HI91	Hilton Worldwide Holdings	Pair Corr
0.65	3FNA	ADRIATIC METALS LS	Pair Corr

Related Correlations Analysis

	KEE	1KT	HXGC	F03	TYZ	TB5	CGZ	MKT	1GSN
KEE		-0.41	0.42	-0.29	-0.7	-0.51	-0.19	-0.17	0.02	KEE
1KT	-0.41		-0.3	0.83	0.81	0.89	0.23	0.82	0.01	1KT
HXGC	0.42	-0.3		-0.24	-0.57	-0.44	-0.62	-0.38	-0.07	HXGC
F03	-0.29	0.83	-0.24		0.59	0.7	0.14	0.79	0.04	F03
TYZ	-0.7	0.81	-0.57	0.59		0.9	0.46	0.69	0.07	TYZ
TB5	-0.51	0.89	-0.44	0.7	0.9		0.33	0.84	-0.01	TB5
CGZ	-0.19	0.23	-0.62	0.14	0.46	0.33		0.41	0.66	CGZ
MKT	-0.17	0.82	-0.38	0.79	0.69	0.84	0.41		0.22	MKT
1GSN	0.02	0.01	-0.07	0.04	0.07	-0.01	0.66	0.22		1GSN
	KEE	1KT	HXGC	F03	TYZ	TB5	CGZ	MKT	1GSN

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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

TB5	+ 0.9	TYZ
TB5	+ 0.89	1KT
MKT	+ 0.84	TB5
F03	+ 0.83	1KT
MKT	+ 0.82	1KT
TYZ	+ 0.81	1KT

High negative correlations

TYZ	- 0.7	KEE
CGZ	- 0.62	HXGC
TYZ	- 0.57	HXGC
TB5	- 0.51	KEE
TB5	- 0.44	HXGC
1KT	- 0.41	KEE

Risk-Adjusted Indicators

There is a big difference between Keyence Stock performing well and Keyence 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 Keyence'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
KEE	1.27	(0.15)	0.00	(0.35)	0.00	0.00	2.78	(2.91)	8.60
1KT	1.53	0.18	0.12	0.23	1.31	(1.84)	3.56	(2.22)	10.15
HXGC	1.63	0.04	0.00	(0.59)	2.02	(2.04)	3.47	(3.98)	10.67
F03	0.91	0.05	0.03	0.12	0.97	(1.15)	2.58	(1.40)	6.78
TYZ	0.97	0.22	0.21	0.46	0.65	(1.18)	2.91	(1.51)	8.12
TB5	1.26	0.36	0.34	0.21	0.63	(1.55)	1.96	(1.91)	20.38
CGZ	1.40	(0.06)	0.00	(0.11)	0.00	0.00	3.43	(2.92)	9.90
MKT	1.90	0.00	0.00	0.03	2.39	(2.13)	4.44	(3.98)	12.67
1GSN	1.48	(0.08)	0.00	(13.83)	0.00	0.00	2.56	(3.14)	12.79

Be your own money manager

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