Knowles Correlations

1K3 Stock

EUR 18.20 0.20 1.09%

The current 90-days correlation between Knowles and ULTRA CLEAN HLDGS is -0.06 (i.e., Good diversification). The correlation of Knowles 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.

Knowles Correlation With Market

Very weak diversification

The correlation between Knowles and DJI is 0.47 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Knowles and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Knowles Stock

0.84	CIS	Cisco Systems	Pair Corr
0.84	CIS	Cisco Systems	Pair Corr
0.86	MTLA	Motorola Solutions	Pair Corr
0.84	2HP	Hewlett Packard Ente	Pair Corr
0.68	ERCA	Telefonaktiebolaget	Pair Corr
0.66	ERCG	Telefonaktiebolaget	Pair Corr
0.65	ERCB	Telefonaktiebolaget	Pair Corr

Moving against Knowles Stock

0.76	TG4	Oxurion NV	Pair Corr
0.42	DBPD	Xtrackers ShortDAX	Pair Corr

Related Correlations Analysis

	UCE	IC1B	0XHR	LC0A	7RD	PL0	9FM	M7O
UCE		0.49	0.66	0.58	0.39	0.35	0.0	0.05	UCE
IC1B	0.49		0.87	0.46	0.87	0.94	-0.04	-0.07	IC1B
0XHR	0.66	0.87		0.55	0.74	0.8	-0.1	0.01	0XHR
LC0A	0.58	0.46	0.55		0.46	0.37	0.17	0.17	LC0A
7RD	0.39	0.87	0.74	0.46		0.88	-0.11	-0.13	7RD
PL0	0.35	0.94	0.8	0.37	0.88		-0.1	-0.21	PL0
9FM	0.0	-0.04	-0.1	0.17	-0.11	-0.1		0.51	9FM
M7O	0.05	-0.07	0.01	0.17	-0.13	-0.21	0.51		M7O
	UCE	IC1B	0XHR	LC0A	7RD	PL0	9FM	M7O

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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

PL0	+ 0.94	IC1B
PL0	+ 0.88	7RD
0XHR	+ 0.87	IC1B
7RD	+ 0.87	IC1B
PL0	+ 0.8	0XHR
7RD	+ 0.74	0XHR

High negative correlations

M7O	- 0.21	PL0
M7O	- 0.13	7RD
9FM	- 0.11	7RD
9FM	- 0.1	PL0
9FM	- 0.1	0XHR
M7O	- 0.07	IC1B

Risk-Adjusted Indicators

There is a big difference between Knowles Stock performing well and Knowles 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 Knowles' 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
UCE	2.49	0.20	0.01	(0.47)	3.15	(2.82)	4.60	(6.51)	18.95
IC1B	1.34	0.33	0.17	0.44	1.31	(1.77)	2.78	(3.02)	14.21
0XHR	1.60	0.02	0.05	0.14	1.50	(2.27)	4.93	(3.01)	9.49
LC0A	3.03	0.36	0.04	(0.46)	3.36	(3.86)	6.54	(6.14)	24.41
7RD	1.64	0.17	0.04	0.43	1.66	(2.50)	4.24	(3.39)	11.52
PL0	1.56	0.33	0.17	0.64	1.26	(2.14)	3.65	(2.16)	15.83
9FM	0.82	0.07	(0.06)	(0.12)	1.24	(0.97)	1.68	(1.60)	9.22
M7O	1.97	0.16	0.00	(0.86)	2.50	(3.57)	4.26	(6.00)	20.72

Be your own money manager

Our tools can tell you how much better you can do entering a position in Knowles 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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Knowles Corporate Management

Elected by the shareholders, the Knowles' board of directors comprises two types of representatives: Knowles inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Knowles. The board's role is to monitor Knowles' management team and ensure that shareholders' interests are well served. Knowles' inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, Knowles' outside directors are responsible for providing unbiased perspectives on the board's policies.

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