BYD Electronic Correlations

BYDIF Stock

USD 4.35 0.25 6.10%

The current 90-days correlation between BYD Electronic and Sunny Optical Technology is -0.21 (i.e., Very good diversification). The correlation of BYD Electronic 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.

BYD Electronic Correlation With Market

Very good diversification

The correlation between BYD Electronic and DJI is -0.22 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding BYD Electronic and DJI in the same portfolio, assuming nothing else is changed.

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

Moving against BYD Pink Sheet

0.41	GLW	Corning Incorporated	Pair Corr
0.34	BNEFF	Bonterra Energy Corp	Pair Corr
0.33	LYTS	LSI Industries	Pair Corr
0.32	LINE	Lineage Common Stock Earnings Call This Week	Pair Corr
0.42	ABOS	Acumen Pharmaceuticals	Pair Corr
0.37	HNI	HNI Corp Earnings Call Today	Pair Corr
0.36	PLX	Protalix Biotherapeutics	Pair Corr
0.34	BCEPF	BCE Inc	Pair Corr
0.32	TLOFF	Talon Metals Corp	Pair Corr

Related Correlations Analysis

	SOTGY	MNBEF	SNPTF	RXLSF	RXEEY	DINRF	CCOEY	NCSYF	CCOEF	SHMZF
SOTGY		-0.4	0.6	-0.73	-0.69	0.45	0.69	0.31	0.5	-0.24	SOTGY
MNBEF	-0.4		-0.5	0.42	0.6	-0.44	-0.21	0.05	-0.2	0.09	MNBEF
SNPTF	0.6	-0.5		-0.62	-0.66	0.19	0.46	0.21	0.24	-0.11	SNPTF
RXLSF	-0.73	0.42	-0.62		0.91	-0.7	-0.84	-0.18	-0.73	0.36	RXLSF
RXEEY	-0.69	0.6	-0.66	0.91		-0.76	-0.72	-0.08	-0.7	0.35	RXEEY
DINRF	0.45	-0.44	0.19	-0.7	-0.76		0.48	-0.08	0.73	-0.41	DINRF
CCOEY	0.69	-0.21	0.46	-0.84	-0.72	0.48		0.2	0.72	-0.27	CCOEY
NCSYF	0.31	0.05	0.21	-0.18	-0.08	-0.08	0.2		-0.03	-0.58	NCSYF
CCOEF	0.5	-0.2	0.24	-0.73	-0.7	0.73	0.72	-0.03		-0.27	CCOEF
SHMZF	-0.24	0.09	-0.11	0.36	0.35	-0.41	-0.27	-0.58	-0.27		SHMZF
	SOTGY	MNBEF	SNPTF	RXLSF	RXEEY	DINRF	CCOEY	NCSYF	CCOEF	SHMZF

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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

RXEEY	+ 0.91	RXLSF
CCOEF	+ 0.73	DINRF
CCOEF	+ 0.72	CCOEY
CCOEY	+ 0.69	SOTGY
SNPTF	+ 0.6	SOTGY
RXEEY	+ 0.6	MNBEF

High negative correlations

CCOEY	- 0.84	RXLSF
DINRF	- 0.76	RXEEY
CCOEF	- 0.73	RXLSF
RXLSF	- 0.73	SOTGY
CCOEY	- 0.72	RXEEY
CCOEF	- 0.7	RXEEY

Risk-Adjusted Indicators

There is a big difference between BYD Pink Sheet performing well and BYD Electronic 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 BYD Electronic'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
SOTGY	2.34	(0.30)	0.00	(0.55)	0.00	0.00	4.62	(5.89)	16.09
MNBEF	4.94	(1.26)	0.00	(6.98)	0.00	0.00	4.00	(13.18)	53.63
SNPTF	0.44	(0.14)	0.00	1.40	0.00	0.00	0.00	0.00	17.45
RXLSF	1.10	0.34	0.10	(9.63)	0.88	(3.13)	3.42	(2.56)	10.65
RXEEY	1.37	0.27	0.12	0.59	1.79	(1.48)	3.03	(2.98)	9.93
DINRF	5.04	(0.45)	0.00	4.10	0.00	0.00	12.36	(14.56)	41.07
CCOEY	2.04	(0.32)	0.00	(0.38)	0.00	0.00	6.00	(4.37)	17.47
NCSYF	1.63	(0.49)	0.00	(1.02)	0.00	0.00	1.85	(7.28)	20.55
CCOEF	1.80	(0.31)	0.00	0.33	0.00	0.00	5.44	(8.64)	25.11
SHMZF	0.15	0.06	0.00	10.06	0.00	0.00	0.00	0.00	5.43

Be your own money manager

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