SKYWORKS SOLUTIONS Correlations

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EUR 63.39 0.86 1.34%

The current 90-days correlation between SKYWORKS SOLUTIONS and Tianjin Capital Environmental is -0.15 (i.e., Good diversification). The correlation of SKYWORKS SOLUTIONS 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.

SKYWORKS SOLUTIONS Correlation With Market

Good diversification

The correlation between SKYWORKS SOLUTIONS and DJI is -0.1 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding SKYWORKS SOLUTIONS and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with SKYWORKS Stock

0.7	MSF	Microsoft	Pair Corr
0.68	MSF	Microsoft	Pair Corr
0.68	MSF	Microsoft	Pair Corr
0.69	MSF	Microsoft	Pair Corr
0.69	MSF	Microsoft	Pair Corr
0.72	PQ9	PT Bank Mandiri	Pair Corr
0.61	PQ9	BANK MANDIRI	Pair Corr

Moving against SKYWORKS Stock

0.47	SSU	Samsung Electronics	Pair Corr
0.45	SSU	Samsung Electronics	Pair Corr
0.33	SSUN	Samsung Electronics	Pair Corr

Related Correlations Analysis

	TIA	KGZ	FWQ	XFB	EDJ	DY2	V1M	LA5
TIA		0.36	-0.11	0.37	0.12	0.04	0.0	0.35	TIA
KGZ	0.36		-0.15	0.62	0.79	0.06	0.0	0.93	KGZ
FWQ	-0.11	-0.15		-0.21	0.11	0.21	0.0	-0.11	FWQ
XFB	0.37	0.62	-0.21		0.35	0.2	0.0	0.61	XFB
EDJ	0.12	0.79	0.11	0.35		0.05	0.0	0.82	EDJ
DY2	0.04	0.06	0.21	0.2	0.05		0.0	0.08	DY2
V1M	0.0	0.0	0.0	0.0	0.0	0.0		0.0	V1M
LA5	0.35	0.93	-0.11	0.61	0.82	0.08	0.0		LA5
	TIA	KGZ	FWQ	XFB	EDJ	DY2	V1M	LA5

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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

LA5	+ 0.93	KGZ
LA5	+ 0.82	EDJ
EDJ	+ 0.79	KGZ
XFB	+ 0.62	KGZ
LA5	+ 0.61	XFB
XFB	+ 0.37	TIA

High negative correlations

XFB	- 0.21	FWQ
FWQ	- 0.15	KGZ
LA5	- 0.11	FWQ
FWQ	- 0.11	TIA
LA5	- 0.0	V1M
V1M	- 0.0	DY2

Risk-Adjusted Indicators

There is a big difference between SKYWORKS Stock performing well and SKYWORKS SOLUTIONS 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 SKYWORKS SOLUTIONS'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
TIA	0.87	0.00	0.00	0.00	1.15	(2.63)	2.63	(2.56)	5.27
KGZ	2.05	0.60	0.22	11.00	1.82	(2.86)	5.36	(3.59)	26.08
FWQ	1.60	(0.04)	0.00	0.04	0.00	0.00	5.56	(5.26)	11.76
XFB	2.02	0.27	0.09	(0.76)	2.39	(2.29)	4.92	(4.25)	13.00
EDJ	1.87	0.47	0.13	(0.66)	2.69	(2.23)	3.05	(3.10)	28.43
DY2	1.29	0.06	0.04	0.09	1.52	(1.44)	2.97	(1.94)	8.94
V1M	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
LA5	2.04	0.66	0.30	1.62	1.62	(2.78)	6.42	(3.31)	11.28

Be your own money manager

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