Made Tech Correlations

MTEC Stock

39.00 0.25 0.64%

The correlation of Made Tech 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.

Made Tech Correlation With Market

Poor diversification

The correlation between Made Tech Group and DJI is 0.79 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Made Tech Group and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Made Stock

0.84	SMSD	Samsung Electronics	Pair Corr
0.83	SMSN	Samsung Electronics	Pair Corr
0.83	BC94	Samsung Electronics	Pair Corr
0.85	TYT	Toyota Motor Corp Earnings Call Today	Pair Corr
0.63	GTCO	Guaranty Trust Holding	Pair Corr
0.78	0LCV	Taiwan Semiconductor	Pair Corr
0.72	0NR2	Vallourec	Pair Corr
0.78	KGH	Knights Group Holdings	Pair Corr
0.76	PAF	Pan African Resources Earnings Call This Week	Pair Corr
0.67	CCC	Computacenter PLC	Pair Corr
0.72	SAFE	Safestore Holdings Plc	Pair Corr
0.77	INVP	Investec PLC	Pair Corr
0.87	JEDT	JPMorgan Euro Small	Pair Corr
0.63	NBS	Nationwide Building	Pair Corr
0.67	0QHX	Odfjell Drilling Earnings Call This Week	Pair Corr
0.78	0KU1	Raymond James Financial	Pair Corr
0.75	0LJB	Uniti Group	Pair Corr
0.68	0NIS	SBM Offshore NV	Pair Corr

Moving against Made Stock

0.66

RIGD

Reliance Industries

Pair Corr

Related Correlations Analysis

	BC94	SMSD	SMSN	TYT	KAP	HHPD	RIGD	RICO	0HCI	CEIR
BC94		1.0	1.0	0.83	0.91	-0.4	-0.8	0.23	0.45	0.0	BC94
SMSD	1.0		1.0	0.84	0.89	-0.37	-0.8	0.24	0.46	0.0	SMSD
SMSN	1.0	1.0		0.83	0.91	-0.4	-0.8	0.24	0.46	0.0	SMSN
TYT	0.83	0.84	0.83		0.65	-0.47	-0.61	0.48	0.27	0.0	TYT
KAP	0.91	0.89	0.91	0.65		-0.38	-0.89	0.14	0.65	0.0	KAP
HHPD	-0.4	-0.37	-0.4	-0.47	-0.38		0.22	-0.2	0.07	0.0	HHPD
RIGD	-0.8	-0.8	-0.8	-0.61	-0.89	0.22		-0.11	-0.75	0.0	RIGD
RICO	0.23	0.24	0.24	0.48	0.14	-0.2	-0.11		0.02	0.0	RICO
0HCI	0.45	0.46	0.46	0.27	0.65	0.07	-0.75	0.02		0.0	0HCI
CEIR	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0		CEIR
	BC94	SMSD	SMSN	TYT	KAP	HHPD	RIGD	RICO	0HCI	CEIR

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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

SMSD	+ 1.0	BC94
SMSN	+ 1.0	BC94
SMSN	+ 1.0	SMSD
KAP	+ 0.91	BC94
KAP	+ 0.91	SMSN
KAP	+ 0.89	SMSD

High negative correlations

RIGD	- 0.89	KAP
RIGD	- 0.8	SMSN
RIGD	- 0.8	SMSD
RIGD	- 0.8	BC94
0HCI	- 0.75	RIGD
RIGD	- 0.61	TYT

Risk-Adjusted Indicators

There is a big difference between Made Stock performing well and Made Tech 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 Made Tech'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
BC94	2.30	0.51	0.18	0.54	2.49	(2.52)	5.77	(4.16)	11.98
SMSD	2.20	0.36	0.13	0.37	2.31	(2.48)	5.44	(4.01)	12.16
SMSN	2.34	0.50	0.18	0.57	2.47	(2.61)	5.89	(3.86)	11.22
TYT	1.33	0.25	0.10	0.84	1.40	(1.63)	3.26	(2.89)	10.55
KAP	2.79	0.37	0.11	0.31	2.96	(3.03)	5.85	(5.24)	18.39
HHPD	1.64	(0.29)	0.00	(0.26)	0.00	0.00	3.27	(3.56)	11.57
RIGD	0.95	(0.07)	0.00	(0.30)	0.00	0.00	1.43	(2.57)	6.17
RICO	1.11	0.14	0.04	(0.89)	1.40	(1.88)	3.28	(2.80)	11.45
0HCI	1.91	(0.09)	0.00	(0.31)	0.00	0.00	4.44	(3.06)	15.00
CEIR	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00

Be your own money manager

Our tools can tell you how much better you can do entering a position in Made Tech 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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