Austin Engineering Correlations
| AUSTF Stock | USD 0.22 0.01 4.76% |
The correlation of Austin 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.
Austin Engineering Correlation With Market
Poor diversification
The correlation between Austin Engineering Limited and DJI is 0.63 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Austin Engineering Limited and DJI in the same portfolio, assuming nothing else is changed.
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The ability to find closely correlated positions to Austin 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 Austin 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 Austin 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 Austin Engineering Limited to buy it.
Moving together with Austin Pink Sheet
| 0.65 | CAT | Caterpillar | PairCorr |
| 0.66 | DE | Deere Company | PairCorr |
| 0.73 | PCAR | PACCAR Inc | PairCorr |
| 0.76 | VLVLY | Volvo AB ADR | PairCorr |
| 0.75 | VOLVF | Volvo AB ser | PairCorr |
| 0.73 | DTRUY | Daimler Truck Holding | PairCorr |
| 0.71 | DTGHF | Daimler Truck Holding | PairCorr |
| 0.62 | KMTUF | Komatsu | PairCorr |
| 0.66 | JOE | St Joe Company Earnings Call Tomorrow | PairCorr |
| 0.68 | KGC | Kinross Gold | PairCorr |
| 0.67 | LPG | Dorian LPG | PairCorr |
| 0.75 | MT | ArcelorMittal SA ADR | PairCorr |
| 0.75 | ASML | ASML Holding NV | PairCorr |
| 0.7 | LSIIF | Lisi SA Earnings Call This Week | PairCorr |
| 0.65 | JBLU | JetBlue Airways Corp | PairCorr |
| 0.7 | MTNOF | MTN Group Limited | PairCorr |
| 0.64 | PILBF | Pilbara Minerals | PairCorr |
| 0.71 | PNC | PNC Financial Services | PairCorr |
| 0.75 | FGBIP | First Guaranty Bancshares | PairCorr |
| 0.64 | ELTLF | Elementos Limited | PairCorr |
Moving against Austin Pink Sheet
| 0.51 | VOLAF | AB Volvo | PairCorr |
| 0.5 | GLABF | Gemina Laboratories | PairCorr |
| 0.32 | ZTLLF | Zonetail | PairCorr |
| 0.5 | LOWLF | Lowell Farms | PairCorr |
Related Correlations Analysis
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
| High negative correlations
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Risk-Adjusted Indicators
There is a big difference between Austin Pink Sheet performing well and Austin 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 Austin 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| SKUYF | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
| SCTTF | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
| TGHLF | 0.49 | 0.07 | 0.01 | (2.65) | 0.48 | 1.50 | 6.04 | |||
| ADFJF | 2.15 | 0.56 | 0.23 | 0.60 | 1.57 | 7.81 | 19.03 | |||
| BYYLF | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
| CHMX | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
| ICTSF | 1.27 | 0.22 | 0.03 | (0.51) | 1.72 | 5.26 | 14.20 | |||
| DBMG | 1.89 | 0.88 | 0.00 | 0.63 | 0.00 | 0.00 | 48.84 | |||
| QNTFF | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
| DIGTF | 1.76 | 0.01 | 0.00 | 0.06 | 0.00 | 0.00 | 58.12 |
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