Advanced Micro Correlations

AMD Stock

208.45 8.81 4.41%

The correlation of Advanced Micro 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.

Advanced Micro Correlation With Market

Good diversification

The correlation between Advanced Micro Devices and DJI is -0.15 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Advanced Micro Devices and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Advanced Stock

0.68

HK2C

Hong Kong Exchanges

Pair Corr

Moving against Advanced Stock

0.35	XMF	STOMO MITSUI FINL	Pair Corr
0.34	RWL	ROCKWELL AUTOMATION Earnings Call This Week	Pair Corr
0.6	IC1H	InterContinental Hotels	Pair Corr
0.47	XTP	Sino AG	Pair Corr
0.37	XCA	CREDIT AGRICOLE Earnings Call Tomorrow	Pair Corr
0.36	NAQ	Nasdaq Inc	Pair Corr

Related Correlations Analysis

	Z85	45P	AS7	XSFA	B2X	2G0	07M	ZVF
Z85		-0.36	-0.23	-0.69	-0.24	0.64	0.44	0.43	Z85
45P	-0.36		0.63	0.39	0.62	-0.59	-0.78	-0.29	45P
AS7	-0.23	0.63		0.54	0.76	-0.52	-0.68	-0.11	AS7
XSFA	-0.69	0.39	0.54		0.38	-0.81	-0.47	-0.23	XSFA
B2X	-0.24	0.62	0.76	0.38		-0.5	-0.81	-0.37	B2X
2G0	0.64	-0.59	-0.52	-0.81	-0.5		0.7	0.43	2G0
07M	0.44	-0.78	-0.68	-0.47	-0.81	0.7		0.47	07M
ZVF	0.43	-0.29	-0.11	-0.23	-0.37	0.43	0.47		ZVF
	Z85	45P	AS7	XSFA	B2X	2G0	07M	ZVF

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

B2X	+ 0.76	AS7
07M	+ 0.7	2G0
2G0	+ 0.64	Z85
AS7	+ 0.63	45P
B2X	+ 0.62	45P
XSFA	+ 0.54	AS7

High negative correlations

07M	- 0.81	B2X
2G0	- 0.81	XSFA
07M	- 0.78	45P
XSFA	- 0.69	Z85
07M	- 0.68	AS7
2G0	- 0.59	45P

Risk-Adjusted Indicators

There is a big difference between Advanced Stock performing well and Advanced Micro 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 Advanced Micro'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
Z85	1.13	(0.08)	0.00	(0.07)	0.00	0.00	2.38	(2.19)	8.32
45P	3.68	(0.32)	0.00	(0.15)	0.00	0.00	9.00	(9.09)	65.61
AS7	0.96	(0.17)	0.00	(0.41)	0.00	0.00	2.38	(2.32)	5.35
XSFA	1.22	(0.07)	0.00	0.54	0.00	0.00	2.88	(3.89)	13.36
B2X	1.50	(0.44)	0.00	(1.04)	0.00	0.00	4.04	(3.70)	8.98
2G0	2.24	0.15	0.03	1.22	3.20	(2.54)	4.95	(4.25)	17.99
07M	1.69	0.45	0.00	0.74	0.00	0.00	7.69	(5.88)	19.22
ZVF	1.18	(0.01)	(0.01)	0.03	1.67	(4.37)	4.35	(4.17)	8.71

Be your own money manager

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