Spectra Systems Correlations

SPSY Stock

236.00 2.00 0.84%

The current 90-days correlation between Spectra Systems Corp and Samsung Electronics Co is 0.16 (i.e., Average diversification). The correlation of Spectra Systems 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.

Spectra Systems Correlation With Market

Good diversification

The correlation between Spectra Systems Corp and DJI is -0.09 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Spectra Systems Corp and DJI in the same portfolio, assuming nothing else is changed.

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

Moving against Spectra Stock

0.56	BLU	Blue Star Capital	Pair Corr
0.44	ATY	Athelney Trust plc	Pair Corr
0.34	70GD	70GD	Pair Corr
0.39	PREM	Premier African Minerals	Pair Corr
0.33	BAR	Eclectic Bar Group	Pair Corr
0.32	0R1O	Amazon Inc	Pair Corr
0.32	0JSC	Bath Body Works	Pair Corr
0.32	EZJ	EasyJet PLC	Pair Corr
0.31	TYT	Toyota Motor Corp	Pair Corr

Related Correlations Analysis

	SMSD	SMSN	HYUD	TYT	RIGD	SBID	HSBK
SMSD		0.98	0.88	-0.49	0.9	-0.64	-0.79	SMSD
SMSN	0.98		0.88	-0.48	0.91	-0.61	-0.84	SMSN
HYUD	0.88	0.88		-0.66	0.88	-0.63	-0.88	HYUD
TYT	-0.49	-0.48	-0.66		-0.49	0.29	0.68	TYT
RIGD	0.9	0.91	0.88	-0.49		-0.5	-0.77	RIGD
SBID	-0.64	-0.61	-0.63	0.29	-0.5		0.59	SBID
HSBK	-0.79	-0.84	-0.88	0.68	-0.77	0.59		HSBK
	SMSD	SMSN	HYUD	TYT	RIGD	SBID	HSBK

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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

SMSN	+ 0.98	SMSD
RIGD	+ 0.91	SMSN
RIGD	+ 0.9	SMSD
HYUD	+ 0.88	SMSD
HYUD	+ 0.88	SMSN
RIGD	+ 0.88	HYUD

High negative correlations

HSBK	- 0.88	HYUD
HSBK	- 0.84	SMSN
HSBK	- 0.79	SMSD
HSBK	- 0.77	RIGD
TYT	- 0.66	HYUD
SBID	- 0.64	SMSD

Risk-Adjusted Indicators

There is a big difference between Spectra Stock performing well and Spectra Systems 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 Spectra Systems' 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
SMSD	1.66	(0.39)	0.00	2.15	0.00	0.00	3.81	(3.51)	10.50
SMSN	1.74	(0.34)	0.00	(15.77)	0.00	0.00	3.19	(4.00)	13.39
HYUD	1.85	(0.29)	0.00	(2.13)	0.00	0.00	3.67	(4.07)	11.89
TYT	0.94	0.10	0.03	2.55	1.44	(1.66)	2.39	(2.42)	10.47
RIGD	0.94	(0.33)	0.00	1.72	0.00	0.00	1.51	(2.70)	6.39
SBID	1.11	0.03	0.01	0.16	1.27	(1.27)	2.44	(2.30)	8.15
HSBK	1.02	0.13	0.08	2.56	1.09	(1.15)	2.39	(2.30)	8.48

Be your own money manager

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