Made Tech Correlations

MTEC Stock

41.25 1.25 3.13%

The current 90-days correlation between Made Tech Group and Primary Health Properties is -0.11 (i.e., Good diversification). 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

Very poor diversification

The correlation between Made Tech Group and DJI is 0.8 (i.e., Very 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	LLPD	Lloyds Banking Group	Pair Corr
0.77	LLOY	Lloyds Banking Group	Pair Corr
0.85	SANB	SANTANDER UK 8	Pair Corr
0.73	TEM	Templeton Emerging	Pair Corr
0.73	0QYC	First Majestic Silver	Pair Corr
0.71	ZNWD	Zinnwald Lithium PLC	Pair Corr
0.69	SPDM	iShares Physical Pal	Pair Corr
0.67	0R1A	Applied Materials	Pair Corr
0.8	0HJR	Avery Dennison Corp	Pair Corr
0.76	0LVK	Westlake Chemical Corp	Pair Corr
0.77	SSIT	Seraphim Space Investment	Pair Corr
0.75	0GUX	Skandinaviska Enskilda	Pair Corr
0.79	WGLD	WisdomTree Core Physical	Pair Corr
0.66	RICA	Ruffer Investment	Pair Corr
0.66	0K2K	Molson Coors Beverage	Pair Corr
0.76	SLP	Sylvania Platinum	Pair Corr
0.67	LAND	Land Securities Group	Pair Corr
0.87	HSBA	HSBC Holdings PLC	Pair Corr
0.71	FEVR	Fevertree Drinks Plc	Pair Corr
0.78	GMET	Golden Metal Resources	Pair Corr
0.89	FLK	Fletcher King Plc	Pair Corr
0.87	MNTN	Schiehallion Fund	Pair Corr
0.7	PIP	PipeHawk plc	Pair Corr
0.8	IGG	IG Group Holdings	Pair Corr

Moving against Made Stock

0.62	CHP	Caledonian Holdings PLC	Pair Corr
0.38	TRP	Tower Resources plc	Pair Corr
0.7	0NUT	Nextensa NV	Pair Corr

Related Correlations Analysis

	0KBL	0KT6	0LCX	SPI	0R0O	0L8F	PHP
0KBL		-0.48	-0.48	0.32	-0.33	0.23	0.31	0KBL
0KT6	-0.48		0.49	-0.4	0.54	-0.45	-0.48	0KT6
0LCX	-0.48	0.49		-0.48	0.85	-0.85	-0.71	0LCX
SPI	0.32	-0.4	-0.48		-0.55	0.19	0.38	SPI
0R0O	-0.33	0.54	0.85	-0.55		-0.76	-0.6	0R0O
0L8F	0.23	-0.45	-0.85	0.19	-0.76		0.78	0L8F
PHP	0.31	-0.48	-0.71	0.38	-0.6	0.78		PHP
	0KBL	0KT6	0LCX	SPI	0R0O	0L8F	PHP

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

0R0O	+ 0.85	0LCX
PHP	+ 0.78	0L8F
0R0O	+ 0.54	0KT6
0LCX	+ 0.49	0KT6
PHP	+ 0.38	SPI
SPI	+ 0.32	0KBL

High negative correlations

0L8F	- 0.85	0LCX
0L8F	- 0.76	0R0O
PHP	- 0.71	0LCX
PHP	- 0.6	0R0O
0R0O	- 0.55	SPI
SPI	- 0.48	0LCX

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
0KBL	1.07	0.10	0.01	(20.43)	1.18	(1.24)	1.93	(2.04)	8.30
0KT6	2.13	0.04	0.00	0.14	2.72	(2.29)	4.95	(4.06)	19.13
0LCX	1.57	(0.20)	0.00	(0.61)	0.00	0.00	3.04	(4.46)	12.31
SPI	1.64	(0.06)	0.00	0.17	0.00	0.00	3.02	(2.48)	20.23
0R0O	1.60	(0.09)	0.00	0.30	0.00	0.00	3.81	(2.71)	23.77
0L8F	1.96	0.60	0.28	(57.83)	1.38	(2.49)	4.08	(3.60)	22.30
PHP	0.68	0.20	0.14	(1.39)	0.50	(0.83)	1.78	(1.54)	6.31

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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