Advantest Correlations

ADTTF Stock

USD 155.10 0.00 0.00%

The current 90-days correlation between Advantest and Keyence is 0.08 (i.e., Significant diversification). The correlation of Advantest 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.

Advantest Correlation With Market

Poor diversification

The correlation between Advantest and DJI is 0.67 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Advantest and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Advantest Pink Sheet

0.82	ASML	ASML Holding NV	Pair Corr
0.81	LRCX	Lam Research Corp	Pair Corr
0.76	AMAT	Applied Materials Sell-off Trend	Pair Corr
0.83	ASMLF	ASML Holding NV	Pair Corr
0.68	KLAC	KLA Tencor	Pair Corr
0.76	TOELY	Tokyo Electron	Pair Corr
0.77	TOELF	Tokyo Electron	Pair Corr
0.8	TER	Teradyne	Pair Corr
0.83	ENTG	Entegris	Pair Corr
0.8	ASMIY	ASM International Earnings Call Today	Pair Corr
0.73	MTNOF	MTN Group Limited	Pair Corr
0.65	STNE	StoneCo	Pair Corr
0.72	GOLD	Gold Inc Symbol Change	Pair Corr
0.63	PSA-PJ	Public Storage	Pair Corr
0.88	FGFI	First Greenwich Financial	Pair Corr
0.78	FGBIP	First Guaranty Bancshares	Pair Corr
0.79	NPKI	NPK International	Pair Corr
0.86	SRXXF	SPARX Group	Pair Corr
0.88	SYANY	Sydbank AS ADR	Pair Corr
0.84	SBFFF	SBM Offshore NV	Pair Corr
0.71	WGO	Winnebago Industries	Pair Corr
0.75	PAC	Grupo Aeroportuario del	Pair Corr
0.84	MT	ArcelorMittal SA ADR	Pair Corr
0.71	MDDVF	Medical Developments	Pair Corr
0.86	BCPC	Balchem	Pair Corr
0.68	CSBI	Carroll Shelby Inter	Pair Corr
0.85	EE	Excelerate Energy Earnings Call Tomorrow	Pair Corr

Moving against Advantest Pink Sheet

0.69

PBCRF

PT Bank Central

Pair Corr

Related Correlations Analysis

	TOELY	NTDOY	HNHPF	NTDOF	KYCCF	IFNNY	IFNNF	NETTF	ASMXF	VEMLY
TOELY		-0.82	0.2	-0.82	0.77	0.96	0.93	-0.3	0.95	0.84	TOELY
NTDOY	-0.82		-0.02	1.0	-0.65	-0.85	-0.86	0.28	-0.81	-0.7	NTDOY
HNHPF	0.2	-0.02		-0.03	0.46	0.28	0.23	-0.16	0.0	-0.03	HNHPF
NTDOF	-0.82	1.0	-0.03		-0.66	-0.85	-0.85	0.29	-0.8	-0.69	NTDOF
KYCCF	0.77	-0.65	0.46	-0.66		0.79	0.78	-0.37	0.72	0.61	KYCCF
IFNNY	0.96	-0.85	0.28	-0.85	0.79		0.97	-0.39	0.91	0.83	IFNNY
IFNNF	0.93	-0.86	0.23	-0.85	0.78	0.97		-0.38	0.92	0.84	IFNNF
NETTF	-0.3	0.28	-0.16	0.29	-0.37	-0.39	-0.38		-0.28	-0.52	NETTF
ASMXF	0.95	-0.81	0.0	-0.8	0.72	0.91	0.92	-0.28		0.89	ASMXF
VEMLY	0.84	-0.7	-0.03	-0.69	0.61	0.83	0.84	-0.52	0.89		VEMLY
	TOELY	NTDOY	HNHPF	NTDOF	KYCCF	IFNNY	IFNNF	NETTF	ASMXF	VEMLY

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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

NTDOF	+ 1.0	NTDOY
IFNNF	+ 0.97	IFNNY
IFNNY	+ 0.96	TOELY
ASMXF	+ 0.95	TOELY
IFNNF	+ 0.93	TOELY
ASMXF	+ 0.92	IFNNF

High negative correlations

IFNNF	- 0.86	NTDOY
IFNNF	- 0.85	NTDOF
IFNNY	- 0.85	NTDOF
IFNNY	- 0.85	NTDOY
NTDOF	- 0.82	TOELY
NTDOY	- 0.82	TOELY

Risk-Adjusted Indicators

There is a big difference between Advantest Pink Sheet performing well and Advantest 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 Advantest'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
TOELY	2.19	0.46	0.16	0.41	2.66	(2.41)	4.76	(4.44)	14.79
NTDOY	1.82	(0.71)	0.00	(0.63)	0.00	0.00	2.69	(5.16)	13.77
HNHPF	1.50	0.03	0.02	0.11	1.74	(1.71)	3.26	(2.59)	10.03
NTDOF	1.97	(0.65)	0.00	(1.58)	0.00	0.00	2.75	(4.79)	14.31
KYCCF	1.83	0.19	0.08	0.33	1.94	(2.12)	4.81	(3.96)	11.03
IFNNY	1.80	0.42	0.22	0.39	1.73	(2.10)	4.09	(3.18)	9.19
IFNNF	1.69	0.60	0.22	2.58	1.84	(2.12)	4.95	(3.54)	11.48
NETTF	0.79	(0.17)	0.00	2.85	0.00	0.00	0.45	(2.14)	25.64
ASMXF	2.10	0.54	0.14	1.27	1.92	(3.88)	5.23	(4.11)	17.49
VEMLY	1.66	0.23	0.03	(1.92)	2.30	(3.28)	4.82	(6.64)	17.42

Be your own money manager

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