NANOSPHERE HEASCIENCES Correlations

2CG Stock

0.01 0.01 62.50%

The current 90-days correlation between NANOSPHERE HEASCIENCES and Toyota Tsusho Corp is -0.16 (i.e., Good diversification). The correlation of NANOSPHERE HEASCIENCES 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.

NANOSPHERE HEASCIENCES Correlation With Market

Weak diversification

The correlation between NANOSPHERE HEASCIENCES and DJI is 0.31 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding NANOSPHERE HEASCIENCES and DJI in the same portfolio, assuming nothing else is changed.

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

Moving against NANOSPHERE Stock

0.31

4AH1

PT Ace Hardware

Pair Corr

Related Correlations Analysis

	94P	8SP	INL	VOW	BTC1	RRU	RS6	9K1	3RKU	9TO
94P		0.05	0.06	0.53	-0.15	-0.06	0.11	0.22	0.05	0.1	94P
8SP	0.05		0.32	-0.15	0.07	0.28	0.24	0.26	0.52	0.29	8SP
INL	0.06	0.32		0.42	-0.45	0.77	0.83	0.56	-0.05	0.75	INL
VOW	0.53	-0.15	0.42		-0.34	0.5	0.52	0.39	-0.36	0.49	VOW
BTC1	-0.15	0.07	-0.45	-0.34		-0.28	-0.71	-0.68	-0.03	-0.69	BTC1
RRU	-0.06	0.28	0.77	0.5	-0.28		0.79	0.43	-0.18	0.76	RRU
RS6	0.11	0.24	0.83	0.52	-0.71	0.79		0.69	0.02	0.91	RS6
9K1	0.22	0.26	0.56	0.39	-0.68	0.43	0.69		0.21	0.72	9K1
3RKU	0.05	0.52	-0.05	-0.36	-0.03	-0.18	0.02	0.21		0.08	3RKU
9TO	0.1	0.29	0.75	0.49	-0.69	0.76	0.91	0.72	0.08		9TO
	94P	8SP	INL	VOW	BTC1	RRU	RS6	9K1	3RKU	9TO

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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

9TO	+ 0.91	RS6
RS6	+ 0.83	INL
RS6	+ 0.79	RRU
RRU	+ 0.77	INL
9TO	+ 0.76	RRU
9TO	+ 0.75	INL

High negative correlations

RS6	- 0.71	BTC1
9TO	- 0.69	BTC1
9K1	- 0.68	BTC1
BTC1	- 0.45	INL
3RKU	- 0.36	VOW
BTC1	- 0.34	VOW

Risk-Adjusted Indicators

There is a big difference between NANOSPHERE Stock performing well and NANOSPHERE HEASCIENCES 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 NANOSPHERE HEASCIENCES'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
94P	1.87	(0.02)	0.00	(0.12)	0.00	0.00	3.44	(3.93)	11.80
8SP	1.54	0.00	(0.01)	0.05	3.68	(1.72)	4.67	(2.27)	21.96
INL	3.13	0.35	0.08	0.33	4.12	(3.19)	8.76	(5.60)	24.14
VOW	0.66	0.15	0.06	(1.29)	0.70	(1.15)	2.02	(1.19)	6.95
BTC1	2.30	(0.62)	0.00	(0.79)	0.00	0.00	3.98	(5.63)	14.40
RRU	1.89	0.17	0.06	0.49	2.00	(1.98)	3.53	(3.25)	9.23
RS6	1.21	0.34	0.28	0.93	0.76	(1.53)	3.18	(1.57)	5.55
9K1	1.52	0.31	0.11	(0.39)	1.64	(2.01)	3.87	(2.79)	12.62
3RKU	2.38	0.11	0.02	0.51	2.63	(2.94)	4.91	(4.49)	12.82
9TO	2.06	0.54	0.20	(8.58)	1.91	(2.68)	5.26	(2.82)	13.02

Be your own money manager

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