EVS Broadcast Correlations

5E1 Stock

30.70 0.65 2.16%

The current 90-days correlation between EVS Broadcast Equipment and Suntory Beverage Food is -0.16 (i.e., Good diversification). The correlation of EVS Broadcast 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.

EVS Broadcast Correlation With Market

Significant diversification

The correlation between EVS Broadcast Equipment and DJI is 0.06 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding EVS Broadcast Equipment and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with EVS Stock

0.72	APC	Apple Inc	Pair Corr
0.72	APC	Apple Inc	Pair Corr
0.73	APC	Apple Inc	Pair Corr
0.73	APC	Apple Inc	Pair Corr
0.73	APC	Apple Inc	Pair Corr
0.72	APC	Apple Inc	Pair Corr
0.75	MSF	Microsoft	Pair Corr
0.75	MSF	Microsoft	Pair Corr
0.74	MSF	Microsoft	Pair Corr
0.75	MSF	Microsoft	Pair Corr
0.63	CYL	CryoLife	Pair Corr
0.62	CYL	CRYOLIFE	Pair Corr
0.72	DBPE	Xtrackers LevDAX	Pair Corr
0.7	E908	Lyxor 1	Pair Corr

Moving against EVS Stock

0.82	EII	Eisai Earnings Call This Week	Pair Corr
0.76	DBPD	Xtrackers ShortDAX	Pair Corr

Related Correlations Analysis

	7SN	BBEA	PSM	NY70	YT2A	3LN	YE42
7SN		0.76	0.04	0.37	-0.04	-0.06	-0.1	7SN
BBEA	0.76		-0.18	0.59	-0.08	-0.01	-0.18	BBEA
PSM	0.04	-0.18		-0.38	0.03	-0.55	0.12	PSM
NY70	0.37	0.59	-0.38		0.28	0.62	-0.64	NY70
YT2A	-0.04	-0.08	0.03	0.28		0.47	-0.54	YT2A
3LN	-0.06	-0.01	-0.55	0.62	0.47		-0.64	3LN
YE42	-0.1	-0.18	0.12	-0.64	-0.54	-0.64		YE42
	7SN	BBEA	PSM	NY70	YT2A	3LN	YE42

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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

BBEA	+ 0.76	7SN
3LN	+ 0.62	NY70
NY70	+ 0.59	BBEA
3LN	+ 0.47	YT2A
NY70	+ 0.37	7SN
YT2A	+ 0.28	NY70

High negative correlations

YE42	- 0.64	3LN
YE42	- 0.64	NY70
3LN	- 0.55	PSM
YE42	- 0.54	YT2A
NY70	- 0.38	PSM
YE42	- 0.18	BBEA

Risk-Adjusted Indicators

There is a big difference between EVS Stock performing well and EVS Broadcast 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 EVS Broadcast'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
7SN	1.20	(0.06)	0.00	0.36	0.00	0.00	1.85	(2.43)	9.82
BBEA	1.37	(0.21)	0.00	(0.54)	0.00	0.00	2.43	(2.85)	7.21
PSM	1.67	(0.12)	0.00	(0.69)	0.00	0.00	3.35	(3.68)	16.69
NY70	0.95	0.09	0.01	11.74	1.17	(2.06)	3.60	(2.89)	8.84
YT2A	0.92	(0.02)	0.00	(0.39)	0.00	0.00	1.89	(1.62)	5.36
3LN	1.21	0.35	0.18	1.95	1.03	(1.34)	3.31	(2.32)	11.66
YE42	1.28	(0.14)	0.00	(3.11)	0.00	0.00	2.94	(5.63)	14.05

Be your own money manager

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