NEC ADR Correlations

NECPY Stock

16.48 1.82 9.95%

The current 90-days correlation between NEC ADR and Spark I Acquisition is -0.19 (i.e., Good diversification). The correlation of NEC ADR 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.

NEC ADR Correlation With Market

Good diversification

The correlation between NEC ADR and DJI is -0.16 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding NEC ADR and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with NEC Stock

Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in NEC ADR. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in employment.

For more information on how to buy NEC Stock please use our How to Invest in NEC ADR guide.

Moving together with NEC Stock

0.62	CTSH	Cognizant Technology	Pair Corr
0.73	IRNRF	Iron Road Limited	Pair Corr
0.66	RCIAF	Rogers Communications	Pair Corr
0.61	DLMAF	Dollarama	Pair Corr
0.67	PYPD	PolyPid	Pair Corr
0.64	RL	Ralph Lauren Corp	Pair Corr

Moving against NEC Stock

0.77	FISV	Fiserv, Common Stock Symbol Change	Pair Corr
0.7	EPGG	Empire Global Gaming	Pair Corr
0.65	CHHE	China Health Industries	Pair Corr
0.73	747262AW3	QVC 545 percent	Pair Corr
0.41	LUNR	Intuitive Machines Trending	Pair Corr
0.4	VHAI	VHAI	Pair Corr
0.84	PVSP	Pervasip Corp	Pair Corr

Related Correlations Analysis

	SPKL	CGCT	SSEAU	FERA	CIIT	SIMA	PACH	KFIIR	POLE
SPKL		-0.59	-0.15	-0.65	0.57	-0.61	-0.86	-0.71	0.0	SPKL
CGCT	-0.59		0.3	0.31	-0.51	0.48	0.5	0.56	0.03	CGCT
SSEAU	-0.15	0.3		0.23	0.22	0.25	0.25	0.08	0.37	SSEAU
FERA	-0.65	0.31	0.23		-0.2	0.52	0.8	0.44	0.07	FERA
CIIT	0.57	-0.51	0.22	-0.2		-0.29	-0.51	-0.63	0.41	CIIT
SIMA	-0.61	0.48	0.25	0.52	-0.29		0.64	0.51	-0.04	SIMA
PACH	-0.86	0.5	0.25	0.8	-0.51	0.64		0.72	-0.04	PACH
KFIIR	-0.71	0.56	0.08	0.44	-0.63	0.51	0.72		-0.15	KFIIR
POLE	0.0	0.03	0.37	0.07	0.41	-0.04	-0.04	-0.15		POLE
	SPKL	CGCT	SSEAU	FERA	CIIT	SIMA	PACH	KFIIR	POLE

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

PACH	+ 0.8	FERA
KFIIR	+ 0.72	PACH
PACH	+ 0.64	SIMA
CIIT	+ 0.57	SPKL
KFIIR	+ 0.56	CGCT
SIMA	+ 0.52	FERA

High negative correlations

PACH	- 0.86	SPKL
KFIIR	- 0.71	SPKL
FERA	- 0.65	SPKL
KFIIR	- 0.63	CIIT
SIMA	- 0.61	SPKL
CGCT	- 0.59	SPKL

Risk-Adjusted Indicators

There is a big difference between NEC Stock performing well and NEC ADR 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 NEC ADR'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
SPKL	0.63	(0.08)	0.00	0.94	0.00	0.00	1.71	(1.56)	5.35
CGCT	0.11	0.03	(0.28)	2.59	0.00	(0.28)	0.20	(0.10)	1.78
SSEAU	0.11	0.00	(0.10)	0.06	0.18	(0.48)	0.49	(0.10)	2.34
FERA	0.28	0.01	(0.07)	(0.06)	0.46	(0.68)	0.97	(0.96)	4.72
CIIT	7.98	(0.38)	0.00	(0.09)	0.00	0.00	22.22	(20.00)	75.59
SIMA	0.15	0.01	(0.19)	(0.78)	0.12	(0.28)	0.48	(0.38)	1.42
PACH	0.12	0.01	(0.37)	(0.56)	0.00	(0.19)	0.30	(0.20)	0.89
KFIIR	5.45	0.93	0.06	(0.42)	6.25	(9.81)	12.50	(10.00)	46.05
POLE	0.33	0.00	(0.09)	0.13	0.52	(0.53)	0.95	(0.93)	4.71

NEC ADR Corporate Management

Yuko Yamamoto	Chief SVP	Profile
Masakazu Yamashina	Corporate Officer	Profile
Hiroshi Kodama	Corporate Officer	Profile
Koji Tamefusa	Corporate Officer	Profile
Mayuko Tatewaki	Corporate Division	Profile
Hidetoshi Uriu	Chief Officer	Profile

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