Harmonic Drive Correlations

HSYDF Stock

USD 25.00 0.76 2.95%

The current 90-days correlation between Harmonic Drive Systems and Pfeiffer Vacuum Technology is -0.05 (i.e., Good diversification). The correlation of Harmonic Drive 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.

Harmonic Drive Correlation With Market

Poor diversification

The correlation between Harmonic Drive Systems and DJI is 0.71 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Harmonic Drive Systems and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Harmonic OTC Stock

0.62	BFS	Saul Centers	Pair Corr
0.74	MEEEF	Metal Energy Corp	Pair Corr
0.64	TOGOF	TomaGold	Pair Corr
0.68	YLLXF	Yellow Cake plc Downward Rally	Pair Corr
0.72	TATT	Tat Techno	Pair Corr
0.62	BLAGF	Blue Lagoon Resources	Pair Corr
0.76	GS	Goldman Sachs Group	Pair Corr

Moving against Harmonic OTC Stock

0.67	PBCRY	Bank Central Asia	Pair Corr
0.66	PTAIF	PT Astra International	Pair Corr
0.6	AAPL	Apple Inc	Pair Corr
0.44	MSFT	Microsoft Sell-off Trend	Pair Corr
0.37	BKRKF	PT Bank Rakyat Earnings Call This Week	Pair Corr
0.59	AFIIQ	Armstrong Flooring	Pair Corr
0.58	WELL	Welltower Earnings Call Tomorrow	Pair Corr

Related Correlations Analysis

	PFFVF	ECTXF	DEUZF	DUERF	BYPLF	WKRCF	RUSMF	ATCD	FMMFF	IMDXF
PFFVF		0.78	0.55	-0.14	0.76	-0.26	0.6	0.06	0.23	0.62	PFFVF
ECTXF	0.78		0.84	-0.28	0.9	0.0	0.86	0.08	0.44	0.79	ECTXF
DEUZF	0.55	0.84		-0.21	0.6	0.36	0.84	0.15	0.29	0.86	DEUZF
DUERF	-0.14	-0.28	-0.21		-0.19	0.24	-0.51	0.12	-0.09	-0.19	DUERF
BYPLF	0.76	0.9	0.6	-0.19		-0.19	0.71	0.06	0.49	0.63	BYPLF
WKRCF	-0.26	0.0	0.36	0.24	-0.19		0.04	-0.07	-0.09	0.28	WKRCF
RUSMF	0.6	0.86	0.84	-0.51	0.71	0.04		0.16	0.34	0.81	RUSMF
ATCD	0.06	0.08	0.15	0.12	0.06	-0.07	0.16		0.03	0.03	ATCD
FMMFF	0.23	0.44	0.29	-0.09	0.49	-0.09	0.34	0.03		0.2	FMMFF
IMDXF	0.62	0.79	0.86	-0.19	0.63	0.28	0.81	0.03	0.2		IMDXF
	PFFVF	ECTXF	DEUZF	DUERF	BYPLF	WKRCF	RUSMF	ATCD	FMMFF	IMDXF

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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

BYPLF	+ 0.9	ECTXF
RUSMF	+ 0.86	ECTXF
IMDXF	+ 0.86	DEUZF
DEUZF	+ 0.84	ECTXF
RUSMF	+ 0.84	DEUZF
IMDXF	+ 0.81	RUSMF

High negative correlations

RUSMF	- 0.51	DUERF
DUERF	- 0.28	ECTXF
WKRCF	- 0.26	PFFVF
DUERF	- 0.21	DEUZF
WKRCF	- 0.19	BYPLF
IMDXF	- 0.19	DUERF

Risk-Adjusted Indicators

There is a big difference between Harmonic OTC Stock performing well and Harmonic Drive 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 Harmonic Drive'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
PFFVF	0.42	0.06	0.00	(0.16)	0.00	0.00	0.00	(0.33)	16.41
ECTXF	0.19	0.08	0.00	1.00	0.00	0.00	0.00	0.00	4.38
DEUZF	1.09	0.25	0.00	0.53	0.00	0.00	1.12	(0.22)	17.59
DUERF	0.24	(0.14)	0.00	(0.76)	0.00	0.00	0.00	0.00	8.15
BYPLF	0.50	0.27	0.00	(0.69)	0.00	0.00	0.00	0.00	16.86
WKRCF	1.01	(0.05)	0.00	1.35	0.00	0.00	0.00	0.00	52.08
RUSMF	0.92	0.25	0.09	0.90	1.08	(1.40)	2.02	(1.71)	9.69
ATCD	0.12	(0.02)	0.00	(0.66)	0.00	0.00	0.00	0.00	4.00
FMMFF	2.62	1.32	0.00	18.55	0.00	0.00	0.00	0.00	87.95
IMDXF	1.31	0.28	0.00	(1.31)	0.00	0.00	4.20	(1.96)	25.83

Be your own money manager

Our tools can tell you how much better you can do entering a position in Harmonic Drive 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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