Birchtech Corp Correlations
| BCHT Stock | 2.28 0.04 1.79% |
The current 90-days correlation between Birchtech Corp and Rivian Automotive is -0.07 (i.e., Good diversification). The correlation of Birchtech Corp 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.
Birchtech Corp Correlation With Market
Very good diversification
The correlation between Birchtech Corp and DJI is -0.49 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Birchtech Corp and DJI in the same portfolio, assuming nothing else is changed.
Birchtech |
The ability to find closely correlated positions to Birchtech Corp could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Birchtech Corp 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 Birchtech Corp - 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 Birchtech Corp to buy it.
Moving together with Birchtech OTC Stock
| 0.83 | MSFT | Microsoft Aggressive Push | PairCorr |
| 0.63 | AMZN | Amazon Inc Aggressive Push | PairCorr |
Moving against Birchtech OTC Stock
| 0.93 | CLOEF | Cloetta AB ser | PairCorr |
| 0.86 | DTE | DTE Energy | PairCorr |
| 0.85 | BHPLF | BHP Group Limited | PairCorr |
| 0.85 | TKR | Timken Company | PairCorr |
| 0.84 | LTSK | Ladenburg Thalmann | PairCorr |
| 0.83 | TSM | Taiwan Semiconductor | PairCorr |
| 0.83 | OGE | OGE Energy | PairCorr |
| 0.82 | ARMK | Aramark Holdings | PairCorr |
| 0.82 | PSPSF | PSP Swiss Property | PairCorr |
| 0.8 | BIRDF | Bird Construction Earnings Call This Week | PairCorr |
| 0.79 | BMYMP | Bristol Myers Squibb | PairCorr |
| 0.78 | SWGAY | Swatch Group AG | PairCorr |
| 0.78 | GAM | General American Inv | PairCorr |
| 0.74 | EDRVF | EDP Renovaveis | PairCorr |
| 0.74 | TRNO | Terreno Realty | PairCorr |
| 0.48 | MLSPF | Melrose Industries PLC | PairCorr |
| 0.48 | OZK | Bank Ozk | PairCorr |
| 0.46 | TSEM | Tower Semiconductor | PairCorr |
| 0.33 | NVDA | NVIDIA | PairCorr |
| 0.89 | LIN | Linde plc Ordinary | PairCorr |
| 0.87 | RCIT | Reelcause | PairCorr |
| 0.87 | ASTE | Astec Industries | PairCorr |
| 0.86 | DAC | Danaos | PairCorr |
| 0.85 | SAPMF | Saipem SpA Earnings Call This Week | PairCorr |
| 0.85 | CP | Canadian Pacific Railway | PairCorr |
| 0.83 | BYM | BlackRock Municipal | PairCorr |
| 0.8 | APPCF | APAC Resources | PairCorr |
| 0.8 | PSWR | Prism Software | PairCorr |
| 0.78 | LONKF | Lonking Holdings | PairCorr |
| 0.78 | MARUY | Marubeni Corp ADR | 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 Birchtech OTC Stock performing well and Birchtech Corp OTC Stock 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 Birchtech Corp'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| XPEV | 2.46 | (0.39) | 0.00 | (0.44) | 0.00 | 6.18 | 16.73 | |||
| LI | 1.68 | (0.12) | 0.00 | (0.09) | 0.00 | 3.54 | 9.90 | |||
| PHM | 1.51 | 0.03 | 0.02 | 0.07 | 1.54 | 3.75 | 11.80 | |||
| HMC | 1.23 | (0.13) | 0.00 | (0.08) | 0.00 | 2.96 | 8.00 | |||
| ULTA | 1.46 | 0.32 | 0.20 | 0.65 | 1.27 | 2.81 | 16.26 | |||
| WSM | 1.69 | 0.08 | 0.05 | 0.08 | 1.80 | 3.85 | 11.23 | |||
| NIO | 2.37 | (0.17) | 0.00 | (0.22) | 0.00 | 4.71 | 11.98 | |||
| STLA | 2.26 | (0.40) | 0.00 | 0.83 | 0.00 | 4.41 | 29.67 | |||
| RIVN | 3.05 | 0.06 | 0.01 | 0.56 | 2.88 | 10.70 | 33.75 |
Birchtech Corp Related Equities
One of the popular trading techniques among algorithmic traders is to use market-neutral strategies where every trade hedges away some risk. Because there are two separate transactions required, even if one position performs unexpectedly, the other equity can make up some of the losses. Below are some of the equities that can be combined with Birchtech Corp otc stock to make a market-neutral strategy. Peer analysis of Birchtech Corp could also be used in its relative valuation, which is a method of valuing Birchtech Corp by comparing valuation metrics with similar companies.
| Risk & Return | Correlation |