Murata Manufacturing Correlations

MRAAF Stock

USD 17.99 0.22 1.24%

The current 90-days correlation between Murata Manufacturing and Flex is 0.04 (i.e., Significant diversification). The correlation of Murata Manufacturing 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.

Murata Manufacturing Correlation With Market

Good diversification

The correlation between Murata Manufacturing Co and DJI is -0.06 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Murata Manufacturing Co and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Murata Pink Sheet

0.79

MRAAY

Murata Manufacturing

Pair Corr

Moving against Murata Pink Sheet

0.73	MRVL	Marvell Technology Earnings Call This Week	Pair Corr
0.69	ADSK	Autodesk	Pair Corr
0.69	ALAB	Astera Labs, Common	Pair Corr
0.67	ZM	Zoom Video Communications	Pair Corr
0.66	GM	General Motors	Pair Corr
0.64	APH	Amphenol Sell-off Trend	Pair Corr
0.63	GLW	Corning Incorporated	Pair Corr
0.63	CRWD	Crowdstrike Holdings	Pair Corr
0.59	FLEX	Flex	Pair Corr
0.58	NVDA	NVIDIA	Pair Corr
0.56	STLD	Steel Dynamics Fiscal Year End 28th of January 2025	Pair Corr
0.51	JBL	Jabil Circuit	Pair Corr
0.45	RCAT	Red Cat Holdings Trending	Pair Corr
0.43	APLD	Applied Blockchain Trending	Pair Corr
0.41	HNHPF	Hon Hai Precision	Pair Corr

Related Correlations Analysis

	LGL	DAIO	SANM	PLXS	FLEX	BHE	CTS	JBL	CLS
LGL		-0.28	0.08	0.19	0.14	0.13	0.04	0.2	0.2	LGL
DAIO	-0.28		0.57	0.55	0.57	0.58	0.58	0.48	0.54	DAIO
SANM	0.08	0.57		0.9	0.85	0.93	0.98	0.69	0.87	SANM
PLXS	0.19	0.55	0.9		0.96	0.96	0.92	0.91	0.97	PLXS
FLEX	0.14	0.57	0.85	0.96		0.91	0.88	0.92	0.95	FLEX
BHE	0.13	0.58	0.93	0.96	0.91		0.94	0.87	0.89	BHE
CTS	0.04	0.58	0.98	0.92	0.88	0.94		0.77	0.88	CTS
JBL	0.2	0.48	0.69	0.91	0.92	0.87	0.77		0.86	JBL
CLS	0.2	0.54	0.87	0.97	0.95	0.89	0.88	0.86		CLS
	LGL	DAIO	SANM	PLXS	FLEX	BHE	CTS	JBL	CLS

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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

CTS	+ 0.98	SANM
CLS	+ 0.97	PLXS
FLEX	+ 0.96	PLXS
BHE	+ 0.96	PLXS
CLS	+ 0.95	FLEX
CTS	+ 0.94	BHE

High negative correlations

DAIO

- 0.28

LGL

Risk-Adjusted Indicators

There is a big difference between Murata Pink Sheet performing well and Murata Manufacturing 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 Murata Manufacturing'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
LGL	2.46	0.18	0.01	(0.60)	2.92	(2.96)	5.41	(4.17)	20.78
DAIO	2.11	(0.14)	(0.04)	0.01	2.49	(2.35)	4.51	(3.36)	19.29
SANM	1.41	(0.06)	0.04	0.09	1.43	(1.64)	2.35	(2.64)	15.90
PLXS	1.36	0.15	0.15	0.20	1.20	(1.53)	3.38	(1.91)	12.92
FLEX	1.80	0.12	0.12	0.18	1.67	(2.33)	5.67	(2.91)	10.39
BHE	1.62	(0.05)	0.05	0.09	1.79	(1.78)	3.16	(3.84)	13.28
CTS	1.54	(0.08)	0.04	0.08	1.65	(1.73)	2.78	(2.79)	15.09
JBL	1.35	0.13	0.14	0.20	1.20	(1.61)	2.80	(2.04)	15.06
CLS	2.59	0.59	0.19	0.46	2.80	(2.85)	5.42	(4.03)	20.71

Be your own money manager

Our tools can tell you how much better you can do entering a position in Murata Manufacturing 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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