AAC TECHNOLOGHLDGADR Correlations

A2X Stock

4.04 0.34 9.19%

The current 90-days correlation between AAC TECHNOLOGHLDGADR and Cisco Systems is 0.08 (i.e., Significant diversification). The correlation of AAC TECHNOLOGHLDGADR 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.

AAC TECHNOLOGHLDGADR Correlation With Market

Modest diversification

The correlation between AAC TECHNOLOGHLDGADR and DJI is 0.2 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding AAC TECHNOLOGHLDGADR and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with AAC Stock

0.64	FZM	ZTE Corporation	Pair Corr
0.61	2HP	Hewlett Packard Ente Earnings Call Today	Pair Corr
0.62	E908	Lyxor 1	Pair Corr

Moving against AAC Stock

0.53	DBPD	Xtrackers ShortDAX	Pair Corr
0.45	SG9	Strix Group Plc	Pair Corr
0.31	0KJ	ABERFORTH SMCOS TRLS	Pair Corr

Related Correlations Analysis

	CIS	ERCG	8SP	6NM	39O1	2DG	TLX	TM9	INVN	IUI1
CIS		0.92	-0.8	-0.31	0.02	-0.89	-0.25	-0.07	0.89	0.89	CIS
ERCG	0.92		-0.69	-0.21	0.21	-0.76	-0.45	-0.04	0.76	0.74	ERCG
8SP	-0.8	-0.69		0.66	0.32	0.73	0.24	0.26	-0.75	-0.85	8SP
6NM	-0.31	-0.21	0.66		0.45	0.22	0.22	0.23	-0.31	-0.43	6NM
39O1	0.02	0.21	0.32	0.45		0.17	-0.22	0.46	-0.05	-0.26	39O1
2DG	-0.89	-0.76	0.73	0.22	0.17		0.11	0.18	-0.81	-0.88	2DG
TLX	-0.25	-0.45	0.24	0.22	-0.22	0.11		-0.01	-0.09	-0.06	TLX
TM9	-0.07	-0.04	0.26	0.23	0.46	0.18	-0.01		-0.05	-0.26	TM9
INVN	0.89	0.76	-0.75	-0.31	-0.05	-0.81	-0.09	-0.05		0.86	INVN
IUI1	0.89	0.74	-0.85	-0.43	-0.26	-0.88	-0.06	-0.26	0.86		IUI1
	CIS	ERCG	8SP	6NM	39O1	2DG	TLX	TM9	INVN	IUI1

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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

ERCG	+ 0.92	CIS
INVN	+ 0.89	CIS
IUI1	+ 0.89	CIS
IUI1	+ 0.86	INVN
INVN	+ 0.76	ERCG
IUI1	+ 0.74	ERCG

High negative correlations

2DG	- 0.89	CIS
IUI1	- 0.88	2DG
IUI1	- 0.85	8SP
INVN	- 0.81	2DG
8SP	- 0.8	CIS
2DG	- 0.76	ERCG

Risk-Adjusted Indicators

There is a big difference between AAC Stock performing well and AAC TECHNOLOGHLDGADR 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 AAC TECHNOLOGHLDGADR'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
CIS	0.84	0.22	0.24	0.37	0.50	(1.05)	2.00	(1.38)	6.13
ERCG	1.36	0.63	0.39	(2.15)	0.49	(1.79)	2.79	(2.08)	23.35
8SP	2.10	(0.08)	0.00	0.28	0.00	0.00	3.38	(4.74)	20.22
6NM	1.23	0.12	(0.02)	(0.27)	1.76	(1.32)	2.79	(2.69)	9.64
39O1	3.77	0.19	0.04	0.34	3.51	(5.27)	8.41	(5.38)	34.42
2DG	3.89	(1.59)	0.00	(2.90)	0.00	0.00	6.45	(8.57)	52.42
TLX	0.97	0.00	(0.06)	0.00	1.13	(1.12)	2.67	(1.64)	7.58
TM9	2.78	(0.03)	(0.02)	0.04	4.26	(3.08)	5.56	(6.43)	36.50
INVN	2.16	0.26	0.04	(1.02)	2.54	(2.55)	5.61	(4.98)	14.01
IUI1	1.27	0.25	0.13	0.88	1.09	(1.49)	3.28	(1.96)	10.01

Be your own money manager

Our tools can tell you how much better you can do entering a position in AAC TECHNOLOGHLDGADR 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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