Sensor Technologies Correlations

MOOIF Stock

USD 0.0007 0.00 0.00%

The correlation of Sensor Technologies 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.

Sensor Technologies Correlation With Market

Pay attention - limited upside

The correlation between Sensor Technologies Corp and DJI is -0.83 (i.e., Pay attention - limited upside) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Sensor Technologies Corp and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Sensor Pink Sheet

0.82	PBCRY	Bank Central Asia	Pair Corr
0.9	BROGF	BROGF	Pair Corr

Moving against Sensor Pink Sheet

0.79	CTSH	Cognizant Technology	Pair Corr
0.75	NCRRP	NCR Corp Pref	Pair Corr
0.74	ACN	Accenture plc	Pair Corr
0.68	INFY	Infosys Ltd ADR	Pair Corr
0.67	GNTX	Gentex	Pair Corr
0.56	RCKY	Rocky Brands	Pair Corr
0.5	KB	KB Financial Group Earnings Call This Week	Pair Corr
0.48	FISV	Fiserv Common Stock Symbol Change	Pair Corr
0.48	PPERY	Bank Mandiri Persero	Pair Corr
0.43	SHG	Shinhan Financial Earnings Call This Week	Pair Corr
0.42	CAPMF	Capgemini SE Earnings Call This Week	Pair Corr
0.4	CGEMY	Capgemini SE ADR Earnings Call This Week	Pair Corr
0.9	FIBK	First Interstate Ban	Pair Corr
0.87	BNKHF	BOC Hong Kong	Pair Corr
0.79	OBYCF	Obayashi Earnings Call This Week	Pair Corr
0.76	YLLXF	Yellow Cake plc	Pair Corr
0.76	ENS	Enersys Earnings Call This Week	Pair Corr
0.74	APETF	Alpha Esports Tech	Pair Corr
0.71	OMC	Omnicom Group Earnings Call This Week	Pair Corr
0.7	SECVY	Seche Environnement	Pair Corr
0.69	AROC	Archrock Symbol Change	Pair Corr
0.69	THO	Thor Industries	Pair Corr
0.63	RILYL	B Riley Financial	Pair Corr
0.61	FCAP	First Capital Normal Trading	Pair Corr
0.56	TFLM	TFLM	Pair Corr
0.54	JUPGF	Jupiter Gold	Pair Corr
0.43	NFG	National Fuel Gas	Pair Corr
0.36	SHPHF	Sihuan Pharmaceutical	Pair Corr
0.32	GGLDF	Getchell Gold Corp	Pair Corr
0.32	IVVD	Invivyd	Pair Corr

Related Correlations Analysis

	SPOFF	LGLOF	MLBEF	SIMTF	EAGRF	CYBL	CCTC	SCIA	BGRDF	LTCH
SPOFF		0.0	-0.44	0.67	-0.6	-0.73	0.0	0.8	-0.23	0.78	SPOFF
LGLOF	0.0		0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	LGLOF
MLBEF	-0.44	0.0		-0.31	0.57	0.44	0.0	-0.49	0.33	-0.5	MLBEF
SIMTF	0.67	0.0	-0.31		-0.43	-0.44	0.0	0.54	-0.05	0.59	SIMTF
EAGRF	-0.6	0.0	0.57	-0.43		0.75	0.0	-0.79	0.08	-0.75	EAGRF
CYBL	-0.73	0.0	0.44	-0.44	0.75		0.0	-0.88	0.21	-0.77	CYBL
CCTC	0.0	0.0	0.0	0.0	0.0	0.0		0.0	0.0	0.0	CCTC
SCIA	0.8	0.0	-0.49	0.54	-0.79	-0.88	0.0		-0.21	0.88	SCIA
BGRDF	-0.23	0.0	0.33	-0.05	0.08	0.21	0.0	-0.21		-0.25	BGRDF
LTCH	0.78	0.0	-0.5	0.59	-0.75	-0.77	0.0	0.88	-0.25		LTCH
	SPOFF	LGLOF	MLBEF	SIMTF	EAGRF	CYBL	CCTC	SCIA	BGRDF	LTCH

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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

LTCH	+ 0.88	SCIA
SCIA	+ 0.8	SPOFF
LTCH	+ 0.78	SPOFF
CYBL	+ 0.75	EAGRF
SIMTF	+ 0.67	SPOFF
LTCH	+ 0.59	SIMTF

High negative correlations

SCIA	- 0.88	CYBL
SCIA	- 0.79	EAGRF
LTCH	- 0.77	CYBL
LTCH	- 0.75	EAGRF
CYBL	- 0.73	SPOFF
EAGRF	- 0.6	SPOFF

Risk-Adjusted Indicators

There is a big difference between Sensor Pink Sheet performing well and Sensor Technologies 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 Sensor Technologies' 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
SPOFF	5.84	1.26	0.16	(3.13)	5.28	(8.97)	13.04	(11.54)	40.60
LGLOF	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
MLBEF	16.59	1.84	0.09	0.43	15.64	(32.28)	47.60	(31.13)	124.11
SIMTF	7.87	3.88	0.00	(24.33)	0.00	0.00	0.00	0.00	271.14
EAGRF	1.56	(0.43)	0.00	0.59	0.00	0.00	0.00	(4.76)	32.21
CYBL	6.19	(1.48)	0.00	(2.39)	0.00	0.00	13.64	(11.11)	41.91
CCTC	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
SCIA	1.75	0.32	0.10	0.85	2.04	(2.31)	5.50	(4.79)	13.39
BGRDF	10.46	2.48	0.20	0.33	8.24	(22.53)	14.63	(16.67)	276.75
LTCH	4.62	0.76	0.06	(0.28)	5.16	(10.21)	16.67	(8.33)	38.10

Be your own money manager

Our tools can tell you how much better you can do entering a position in Sensor Technologies 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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