Filtronic Plc Correlations

FLTCF Stock

USD 2.03 0.05 2.53%

The current 90-days correlation between Filtronic plc and Altigen Communications is 0.06 (i.e., Significant diversification). The correlation of Filtronic Plc 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.

Filtronic Plc Correlation With Market

Good diversification

The correlation between Filtronic plc and DJI is -0.09 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Filtronic plc and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Filtronic Pink Sheet

0.81	SATS	EchoStar	Pair Corr
0.66	WMT	Walmart Common Stock	Pair Corr
0.7	ACN	Accenture plc Sell-off Trend	Pair Corr
0.64	NGENF	NervGen Pharma Corp	Pair Corr

Moving against Filtronic Pink Sheet

0.35	JD	JD Inc Adr	Pair Corr
0.78	BASE	Couchbase	Pair Corr
0.67	ADVWW	Advantage Solutions	Pair Corr
0.47	KTRIF	KTRIF	Pair Corr

Related Correlations Analysis

	ATGN	CYCA	HAPBF	UCLE	LCTC	APYP	ROBOF	CBRI	SEAC	VISL
ATGN		-0.5	0.66	-0.49	0.64	0.63	0.62	0.54	0.04	0.28	ATGN
CYCA	-0.5		-0.45	0.38	-0.46	-0.47	-0.3	-0.24	0.09	-0.42	CYCA
HAPBF	0.66	-0.45		-0.67	0.54	0.89	0.44	0.36	0.2	-0.03	HAPBF
UCLE	-0.49	0.38	-0.67		-0.24	-0.59	-0.16	-0.1	-0.24	0.26	UCLE
LCTC	0.64	-0.46	0.54	-0.24		0.64	0.88	0.66	-0.26	0.51	LCTC
APYP	0.63	-0.47	0.89	-0.59	0.64		0.51	0.35	0.14	-0.03	APYP
ROBOF	0.62	-0.3	0.44	-0.16	0.88	0.51		0.84	-0.12	0.45	ROBOF
CBRI	0.54	-0.24	0.36	-0.1	0.66	0.35	0.84		0.12	0.31	CBRI
SEAC	0.04	0.09	0.2	-0.24	-0.26	0.14	-0.12	0.12		-0.55	SEAC
VISL	0.28	-0.42	-0.03	0.26	0.51	-0.03	0.45	0.31	-0.55		VISL
	ATGN	CYCA	HAPBF	UCLE	LCTC	APYP	ROBOF	CBRI	SEAC	VISL

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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

APYP	+ 0.89	HAPBF
ROBOF	+ 0.88	LCTC
CBRI	+ 0.84	ROBOF
HAPBF	+ 0.66	ATGN
CBRI	+ 0.66	LCTC
LCTC	+ 0.64	ATGN

High negative correlations

UCLE	- 0.67	HAPBF
APYP	- 0.59	UCLE
VISL	- 0.55	SEAC
CYCA	- 0.5	ATGN
UCLE	- 0.49	ATGN
APYP	- 0.47	CYCA

Risk-Adjusted Indicators

There is a big difference between Filtronic Pink Sheet performing well and Filtronic Plc 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 Filtronic Plc'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
ATGN	2.26	(0.29)	0.00	0.37	0.00	0.00	5.26	(5.26)	34.04
CYCA	924.48	505.64	12.09	(1.13)	0.00	(2,008)	30.00	(25.17)	14,925
HAPBF	6.93	(0.45)	0.00	0.24	0.00	0.00	12.50	(16.67)	51.94
UCLE	22.05	5.68	0.17	3.88	18.55	(54.15)	59.09	(46.15)	271.15
LCTC	0.77	(0.28)	0.00	1.57	0.00	0.00	1.61	(2.24)	13.01
APYP	5.30	(1.07)	0.00	(0.47)	0.00	0.00	14.35	(11.52)	45.93
ROBOF	3.92	(2.13)	0.00	(1.16)	0.00	0.00	0.00	0.00	93.33
CBRI	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
SEAC	4.04	0.39	0.02	(10.62)	7.92	(8.23)	7.95	(8.21)	120.35
VISL	5.39	0.01	0.00	0.08	6.09	(6.65)	12.90	(9.79)	39.23

Be your own money manager

Our tools can tell you how much better you can do entering a position in Filtronic Plc 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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