SMARTOPTICS GRP Correlations

3YL Stock

2.61 0.02 0.76%

The current 90-days correlation between SMARTOPTICS GRP AS and Kintetsu Group Holdings is 0.12 (i.e., Average diversification). The correlation of SMARTOPTICS GRP 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.

SMARTOPTICS GRP Correlation With Market

Poor diversification

The correlation between SMARTOPTICS GRP AS and DJI is 0.78 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding SMARTOPTICS GRP AS and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with SMARTOPTICS Stock

0.62	PQ9	BANK MANDIRI	Pair Corr
0.75	O3I	FLOW TRADERS LTD	Pair Corr
0.63	NPV	Nippon Carbon	Pair Corr
0.79	ENR	Siemens Energy AG	Pair Corr
0.7	7YZ	THARISA NON LIST	Pair Corr
0.61	UN0	Uniper SE	Pair Corr
0.79	SZL	SOLSTAD OFFSHORE	Pair Corr
0.64	TCW	TOKYU STRUCTION	Pair Corr
0.84	NEF	Neste Oyj	Pair Corr
0.74	LPK	LPKF Laser Electronics	Pair Corr
0.69	DJDA	DIeteren Group SA	Pair Corr
0.74	7GA	Gestamp Automoción	Pair Corr
0.83	6IC	Iridium Communications	Pair Corr
0.79	H3M	Hochschild Mining plc	Pair Corr
0.61	PRHA	Prosegur Compaa de	Pair Corr
0.74	NCO	Nedbank Group Limited	Pair Corr
0.8	WCE	CECO ENVIRONMENTAL	Pair Corr
0.61	ENI	Eni SpA	Pair Corr

Moving against SMARTOPTICS Stock

0.75	BYRA	BANK RAKYAT IND	Pair Corr
0.56	4AH1	PT Ace Hardware	Pair Corr
0.53	BZG2	PT Bank Central	Pair Corr
0.32	BYRA	BANK RAKYAT IND	Pair Corr
0.79	DBPD	Xtrackers ShortDAX	Pair Corr

Related Correlations Analysis

	94P	DVDG	BTC1	RS6	9K1	9TO	SVKB	FUC	8SP	KKI
94P		0.14	-0.17	0.13	0.23	0.09	0.09	0.26	0.01	-0.08	94P
DVDG	0.14		-0.75	0.95	0.76	0.94	0.94	0.82	-0.18	0.91	DVDG
BTC1	-0.17	-0.75		-0.72	-0.69	-0.69	-0.75	-0.43	0.36	-0.63	BTC1
RS6	0.13	0.95	-0.72		0.71	0.92	0.95	0.81	-0.14	0.93	RS6
9K1	0.23	0.76	-0.69	0.71		0.76	0.75	0.57	-0.07	0.63	9K1
9TO	0.09	0.94	-0.69	0.92	0.76		0.9	0.8	-0.1	0.9	9TO
SVKB	0.09	0.94	-0.75	0.95	0.75	0.9		0.75	-0.1	0.92	SVKB
FUC	0.26	0.82	-0.43	0.81	0.57	0.8	0.75		-0.16	0.74	FUC
8SP	0.01	-0.18	0.36	-0.14	-0.07	-0.1	-0.1	-0.16		-0.1	8SP
KKI	-0.08	0.91	-0.63	0.93	0.63	0.9	0.92	0.74	-0.1		KKI
	94P	DVDG	BTC1	RS6	9K1	9TO	SVKB	FUC	8SP	KKI

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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

RS6	+ 0.95	DVDG
SVKB	+ 0.95	RS6
9TO	+ 0.94	DVDG
SVKB	+ 0.94	DVDG
KKI	+ 0.93	RS6
9TO	+ 0.92	RS6

High negative correlations

SVKB	- 0.75	BTC1
BTC1	- 0.75	DVDG
RS6	- 0.72	BTC1
9TO	- 0.69	BTC1
9K1	- 0.69	BTC1
KKI	- 0.63	BTC1

Risk-Adjusted Indicators

There is a big difference between SMARTOPTICS Stock performing well and SMARTOPTICS GRP 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 SMARTOPTICS GRP'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	1.79	0.06	0.01	0.32	2.08	(1.99)	3.44	(3.49)	11.80
DVDG	0.46	0.15	0.16	0.75	0.32	(0.53)	1.00	(0.65)	3.06
BTC1	2.30	(0.62)	0.00	(0.79)	0.00	0.00	3.98	(5.63)	14.40
RS6	1.23	0.37	0.26	(1.90)	0.79	(1.53)	3.18	(1.57)	5.55
9K1	1.52	0.25	0.10	2.69	1.65	(2.01)	3.87	(2.79)	12.62
9TO	2.06	0.54	0.20	(8.58)	1.91	(2.68)	5.26	(2.82)	13.02
SVKB	1.16	0.43	0.24	0.78	1.19	(1.31)	3.05	(2.01)	6.58
FUC	2.50	0.32	0.13	0.36	2.26	(3.13)	5.00	(4.35)	20.87
8SP	1.12	(0.15)	0.00	(0.15)	0.00	0.00	2.84	(1.39)	23.94
KKI	1.18	0.19	0.07	1.30	1.62	(1.39)	2.67	(1.96)	11.85

Be your own money manager

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

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

Ronald Hubsch	VP Chain	Profile
Markus Torgersen	Head Accounting	Profile
Kent Lidstrom	Chief Officer	Profile
Bjrn Andersson	Senior Devices	Profile
Stefan Karlsson	Chief Officer	Profile
Per Burman	Chief Officer	Profile
Magnus Grenfeldt	Chief Officer	Profile

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