Hitachi Metals Correlations
| HMTLYDelisted Stock | USD 51.00 0.00 0.00% |
The current 90-days correlation between Hitachi Metals and Celsius Holdings is 0.06 (i.e., Significant diversification). The correlation of Hitachi Metals 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.
Hitachi Metals Correlation With Market
Average diversification
The correlation between Hitachi Metals and DJI is 0.15 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Hitachi Metals and DJI in the same portfolio, assuming nothing else is changed.
Hitachi |
The ability to find closely correlated positions to Hitachi Metals could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Hitachi Metals 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 Hitachi Metals - 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 Hitachi Metals to buy it.
Moving together with Hitachi Pink Sheet
| 0.83 | NPSCY | Nippon Steel Corp | PairCorr |
| 0.79 | NISTF | Nippon Steel | PairCorr |
| 0.79 | BKRKY | Bank Rakyat | PairCorr |
| 0.76 | TLK | Telkom Indonesia Tbk | PairCorr |
| 0.89 | EC | Ecopetrol SA ADR | PairCorr |
| 0.73 | PPERY | Bank Mandiri Persero | PairCorr |
| 0.68 | PPERF | Bank Mandiri Persero | PairCorr |
Moving against Hitachi Pink Sheet
| 0.86 | PTAIF | PT Astra International | PairCorr |
| 0.75 | STLD | Steel Dynamics Fiscal Year End 28th of January 2025 | PairCorr |
| 0.69 | SSNLF | Samsung Electronics | PairCorr |
| 0.66 | GGBR3 | Gerdau SA | PairCorr |
| 0.59 | AMSYF | ArcelorMittal SA | PairCorr |
| 0.39 | GGBR4 | Gerdau SA | PairCorr |
| 0.37 | TLKMF | Telkom Indonesia Tbk | PairCorr |
| 0.82 | AVTE | Aerovate Therapeutics | PairCorr |
| 0.8 | BAC | Bank of America Fiscal Year End 10th of January 2025 | PairCorr |
| 0.75 | IONQ | IONQ Inc | PairCorr |
| 0.74 | INMD | InMode | PairCorr |
| 0.72 | FUND | Sprott Focus Trust | PairCorr |
| 0.69 | NFLX | Netflix Fiscal Year End 28th of January 2025 | PairCorr |
| 0.69 | PLTR | Palantir Technologies Aggressive Push | PairCorr |
| 0.68 | PYPL | PayPal Holdings | PairCorr |
| 0.65 | GOOG | Alphabet Class C Aggressive Push | PairCorr |
| 0.61 | RUM | Rumble Inc Tech Boost | PairCorr |
| 0.61 | ICAD | icad inc | PairCorr |
| 0.6 | LUNR | Intuitive Machines | PairCorr |
| 0.58 | BFLY | Butterfly Network | PairCorr |
| 0.51 | BBAI | BigBearai Holdings | PairCorr |
| 0.51 | APLD | Applied Blockchain Buyout Trend | PairCorr |
| 0.49 | SOUN | SoundHound AI Aggressive Push | PairCorr |
| 0.35 | KOSS | Koss | PairCorr |
Related Correlations Analysis
| Click cells to compare fundamentals | Check Volatility | Backtest Portfolio |
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 Hitachi Pink Sheet performing well and Hitachi Metals 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 Hitachi Metals' 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| RERE | 3.40 | 0.36 | 0.09 | 0.63 | 3.32 | 10.26 | 22.96 | |||
| CELH | 2.84 | 0.01 | (0.03) | 0.54 | 3.07 | 6.16 | 21.65 | |||
| SSY | 3.24 | 0.04 | 0.00 | 0.19 | 3.71 | 8.75 | 21.90 | |||
| CDR-PB | 1.91 | 0.39 | 0.08 | (2.23) | 2.44 | 4.50 | 13.67 | |||
| MJWNY | 0.23 | 0.02 | 0.00 | 0.01 | 0.00 | 0.00 | 7.91 | |||
| CHWY | 2.00 | 0.00 | 0.00 | 0.10 | 2.37 | 5.10 | 16.46 | |||
| FRCOF | 1.13 | 0.17 | 0.00 | 1.53 | 0.00 | 4.76 | 23.45 | |||
| CATWF | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Hitachi Metals 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 Hitachi Metals pink sheet to make a market-neutral strategy. Peer analysis of Hitachi Metals could also be used in its relative valuation, which is a method of valuing Hitachi Metals by comparing valuation metrics with similar companies.
| Risk & Return | Correlation |
Still Interested in Hitachi Metals?
Investing in delisted pink sheets can be risky, as the pink sheet is no longer traded on a public exchange and can therefore be difficult to sell. Delisting typically occurs when a company has failed to meet exchange requirements or has been acquired. Before investing, it's important to thoroughly research the company, including its financial health and prospects for the future, as well as the reasons for its delisting. Additionally, it may be difficult to find accurate and up-to-date information on the company and its stock.