Micro-Mechanics (Holdings) Correlations
| MCRNF Stock | USD 1.17 0.00 0.00% |
The current 90-days correlation between Micro-Mechanics (Holdings) and Applied Materials is -0.11 (i.e., Good diversification). The correlation of Micro-Mechanics (Holdings) 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.
Micro-Mechanics (Holdings) Correlation With Market
Significant diversification
The correlation between Micro Mechanics and DJI is 0.05 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Micro Mechanics and DJI in the same portfolio, assuming nothing else is changed.
Micro-Mechanics |
The ability to find closely correlated positions to Micro-Mechanics (Holdings) could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Micro-Mechanics (Holdings) 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 Micro-Mechanics (Holdings) - 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 Micro Mechanics to buy it.
Moving together with Micro-Mechanics Pink Sheet
| 0.8 | CBIO | Catalyst Biosciences | PairCorr |
| 0.72 | KSCP | Knightscope | PairCorr |
| 0.82 | ALAB | Astera Labs, Common Tech Boost | PairCorr |
| 0.77 | EXK | Endeavour Silver Corp | PairCorr |
| 0.77 | STLD | Steel Dynamics Fiscal Year End 28th of January 2025 | PairCorr |
| 0.74 | CRWD | Crowdstrike Holdings Earnings Call This Week | PairCorr |
| 0.76 | NDAQ | Nasdaq Inc | PairCorr |
| 0.75 | ZM | Zoom Video Communications Earnings Call Tomorrow | PairCorr |
| 0.86 | MRVL | Marvell Technology Earnings Call This Week | PairCorr |
| 0.82 | NVDA | NVIDIA | PairCorr |
| 0.79 | GM | General Motors Aggressive Push | PairCorr |
| 0.75 | CFLT | Confluent | PairCorr |
| 0.8 | BAC | Bank of America Fiscal Year End 10th of January 2025 | PairCorr |
Moving against Micro-Mechanics Pink Sheet
| 0.88 | ASMLF | ASML Holding NV | PairCorr |
| 0.88 | ASML | ASML Holding NV Fiscal Year End 22nd of January 2025 | PairCorr |
| 0.87 | ASMXF | ASM International | PairCorr |
| 0.86 | KLAC | KLA Tencor | PairCorr |
| 0.8 | TER | Teradyne | PairCorr |
| 0.75 | TOELY | Tokyo Electron | PairCorr |
| 0.68 | TOELF | Tokyo Electron | PairCorr |
| 0.63 | LRCX | Lam Research Corp Aggressive Push | PairCorr |
| 0.57 | AMAT | Applied Materials | PairCorr |
| 0.5 | CRGP | Calissio Resources | PairCorr |
| 0.57 | PHIL | PHI Group | PairCorr |
Related Correlations Analysis
| Click cells to compare fundamentals | Check Volatility | Backtest Portfolio |
Risk-Adjusted Indicators
There is a big difference between Micro-Mechanics Pink Sheet performing well and Micro-Mechanics (Holdings) 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 Micro-Mechanics (Holdings)'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| AMAT | 1.95 | (0.36) | 0.00 | (0.11) | 0.00 | 4.31 | 16.93 | |||
| KLAC | 1.99 | (0.49) | 0.00 | (0.18) | 0.00 | 3.24 | 20.36 | |||
| ASML | 2.02 | (0.56) | 0.00 | (0.32) | 0.00 | 3.76 | 22.75 | |||
| ACLS | 2.00 | (0.80) | 0.00 | (0.26) | 0.00 | 3.99 | 14.28 | |||
| TER | 2.01 | (0.50) | 0.00 | (0.13) | 0.00 | 3.61 | 16.21 |
Be your own money manager
Our tools can tell you how much better you can do entering a position in Micro-Mechanics (Holdings) 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.Did you try this?
Run Commodity Channel Now
Commodity ChannelUse Commodity Channel Index to analyze current equity momentum |
| All Next | Launch Module |