Aida Engineering Correlations

ADERY Stock

USD 77.56 0.00 0.00%

The correlation of Aida Engineering 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.

Aida Engineering Correlation With Market

Very poor diversification

The correlation between Aida Engineering Ltd and DJI is 0.8 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Aida Engineering Ltd and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Aida Pink Sheet

0.79	SIEGY	Siemens AG ADR	Pair Corr
0.69	PH	Parker Hannifin	Pair Corr
0.79	SMAWF	Siemens AG Class	Pair Corr
0.73	EMR	Emerson Electric	Pair Corr
0.78	FMCB	Farmers Merchants Bancorp	Pair Corr
0.67	UAA	Under Armour A	Pair Corr
0.75	PALAF	Paladin Energy Downward Rally	Pair Corr
0.69	STRS	Stratus Properties	Pair Corr
0.65	SOJE	Southern Company	Pair Corr
0.78	MSGE	Madison Square Garden	Pair Corr
0.65	FNV	Franco Nevada	Pair Corr
0.76	TOELF	Tokyo Electron	Pair Corr
0.65	BNL	Broadstone Net Lease	Pair Corr

Moving against Aida Pink Sheet

0.59	NDEKY	Nitto Denko Corp	Pair Corr
0.5	ERHE	ERHC Energy	Pair Corr

Related Correlations Analysis

	HBGRF	SEIGY	NLLSY	DURYY	NLLSF	SSMFF	ENJPY	WJXFF	CHFFY	SEIGF
HBGRF		-0.31	-0.44	0.27	-0.08	0.42	0.0	-0.11	0.24	0.0	HBGRF
SEIGY	-0.31		0.42	0.27	-0.37	0.16	0.0	0.57	-0.01	0.0	SEIGY
NLLSY	-0.44	0.42		-0.38	-0.1	-0.57	0.0	-0.05	0.16	0.0	NLLSY
DURYY	0.27	0.27	-0.38		-0.22	0.77	0.0	0.56	-0.11	0.0	DURYY
NLLSF	-0.08	-0.37	-0.1	-0.22		-0.29	0.0	-0.39	-0.02	0.0	NLLSF
SSMFF	0.42	0.16	-0.57	0.77	-0.29		0.0	0.49	-0.09	0.0	SSMFF
ENJPY	0.0	0.0	0.0	0.0	0.0	0.0		0.0	0.0	-1.0	ENJPY
WJXFF	-0.11	0.57	-0.05	0.56	-0.39	0.49	0.0		-0.46	0.0	WJXFF
CHFFY	0.24	-0.01	0.16	-0.11	-0.02	-0.09	0.0	-0.46		0.0	CHFFY
SEIGF	0.0	0.0	0.0	0.0	0.0	0.0	-1.0	0.0	0.0		SEIGF
	HBGRF	SEIGY	NLLSY	DURYY	NLLSF	SSMFF	ENJPY	WJXFF	CHFFY	SEIGF

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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

SSMFF	+ 0.77	DURYY
WJXFF	+ 0.57	SEIGY
WJXFF	+ 0.56	DURYY
WJXFF	+ 0.49	SSMFF
SSMFF	+ 0.42	HBGRF
NLLSY	+ 0.42	SEIGY

High negative correlations

SEIGF	- 1.0	ENJPY
SSMFF	- 0.57	NLLSY
CHFFY	- 0.46	WJXFF
NLLSY	- 0.44	HBGRF
WJXFF	- 0.39	NLLSF
DURYY	- 0.38	NLLSY

Risk-Adjusted Indicators

There is a big difference between Aida Pink Sheet performing well and Aida Engineering 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 Aida Engineering'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
HBGRF	0.82	(0.09)	0.00	(0.07)	0.00	0.00	0.00	0.00	43.16
SEIGY	0.49	0.03	0.00	0.43	0.00	0.00	0.00	0.00	21.18
NLLSY	0.67	(0.15)	0.00	0.71	0.00	0.00	1.44	(2.97)	10.85
DURYY	1.19	0.34	0.00	0.28	0.00	0.00	0.00	0.00	43.73
NLLSF	3.28	0.12	0.01	(0.29)	3.68	(5.81)	4.76	(8.33)	28.70
SSMFF	0.09	0.04	0.00	(0.78)	0.00	0.00	0.00	0.00	3.00
ENJPY	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
WJXFF	0.85	0.37	0.19	(5.42)	0.00	(2.23)	2.88	(0.90)	4.93
CHFFY	0.43	(0.24)	0.00	(0.67)	0.00	0.00	0.00	0.00	0.00
SEIGF	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00

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

Mitsuru Hirasawa	Chair Off	Profile
Yasuyuki Kaneoya	Ex GmbH	Profile
Yoshinori Ozaki	Managing Headquarters	Profile
Naoki Nakatsuka	Exec Headquarters	Profile
Teck Yap	Operating Director	Profile
Toshihiko Suzuki	COO, VP	Profile

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