NGK Insulators Correlations

NGKIF Stock

USD 23.58 0.92 3.76%

The current 90-days correlation between NGK Insulators and Haitian International Holdings is -0.34 (i.e., Very good diversification). The correlation of NGK Insulators 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.

NGK Insulators Correlation With Market

Very poor diversification

The correlation between NGK Insulators 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 NGK Insulators and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with NGK Pink Sheet

0.83	GEV	GE Vernova LLC	Pair Corr
0.73	SIEGY	Siemens AG ADR Earnings Call This Week	Pair Corr
0.75	SMAWF	Siemens AG Class Earnings Call This Week	Pair Corr
0.9	PH	Parker Hannifin	Pair Corr
0.84	EMR	Emerson Electric	Pair Corr
0.93	CMI	Cummins	Pair Corr
0.84	WMT	Walmart Common Stock Aggressive Push	Pair Corr
0.89	SAR	Saratoga Investment Corp	Pair Corr
0.66	VLKPF	Volkswagen AG VZO	Pair Corr
0.88	AA	Alcoa Corp	Pair Corr
0.85	XOM	Exxon Mobil Corp Aggressive Push	Pair Corr
0.85	DD	Dupont De Nemours Earnings Call This Week	Pair Corr
0.76	INTC	Intel Aggressive Push	Pair Corr
0.85	MRK	Merck Company Aggressive Push	Pair Corr
0.66	PFE	Pfizer Inc Aggressive Push	Pair Corr
0.77	CVX	Chevron Corp	Pair Corr

Moving against NGK Pink Sheet

0.64	HNHPF	Hon Hai Precision	Pair Corr
0.6	JD	JD Inc Adr	Pair Corr
0.77	MSFT	Microsoft	Pair Corr
0.5	MMM	3M Company	Pair Corr
0.32	IBM	International Business	Pair Corr

Related Correlations Analysis

	HAIIF	BCHHF	KRNNF	HSHZY	YMATF	HSHIF	YOKEF	MICLF	JGHAF	CYJBF
HAIIF		0.6	0.0	-0.1	0.14	0.0	0.0	-0.42	0.0	-0.47	HAIIF
BCHHF	0.6		0.0	-0.31	0.09	0.0	0.0	-0.28	0.0	-0.32	BCHHF
KRNNF	0.0	0.0		0.0	0.0	0.0	0.0	0.0	1.0	0.0	KRNNF
HSHZY	-0.1	-0.31	0.0		0.26	0.0	0.0	-0.62	0.0	-0.44	HSHZY
YMATF	0.14	0.09	0.0	0.26		0.0	0.0	-0.34	0.0	-0.28	YMATF
HSHIF	0.0	0.0	0.0	0.0	0.0		0.0	0.0	0.0	0.0	HSHIF
YOKEF	0.0	0.0	0.0	0.0	0.0	0.0		0.0	0.0	0.0	YOKEF
MICLF	-0.42	-0.28	0.0	-0.62	-0.34	0.0	0.0		0.0	0.79	MICLF
JGHAF	0.0	0.0	1.0	0.0	0.0	0.0	0.0	0.0		0.0	JGHAF
CYJBF	-0.47	-0.32	0.0	-0.44	-0.28	0.0	0.0	0.79	0.0		CYJBF
	HAIIF	BCHHF	KRNNF	HSHZY	YMATF	HSHIF	YOKEF	MICLF	JGHAF	CYJBF

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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

JGHAF	+ 1.0	KRNNF
CYJBF	+ 0.79	MICLF
BCHHF	+ 0.6	HAIIF
YMATF	+ 0.26	HSHZY
YMATF	+ 0.14	HAIIF
YMATF	+ 0.09	BCHHF

High negative correlations

MICLF	- 0.62	HSHZY
CYJBF	- 0.47	HAIIF
CYJBF	- 0.44	HSHZY
MICLF	- 0.42	HAIIF
MICLF	- 0.34	YMATF
CYJBF	- 0.32	BCHHF

Risk-Adjusted Indicators

There is a big difference between NGK Pink Sheet performing well and NGK Insulators 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 NGK Insulators' 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	Treynor Ratio	Potential Upside	Value @Risk	Maximum Drawdown
HAIIF	0.40	(0.20)	2.22	0.00	0.00	13.31
BCHHF	0.23	(0.05)	0.54	0.00	0.00	7.68
KRNNF	0.00	0.00	0.00	0.00	0.00	0.00
HSHZY	0.33	0.02	0.03	1.04	(1.03)	14.93
YMATF	4.47	1.14	23.33	15.35	(12.69)	17.54
HSHIF	0.00	0.00	0.00	0.00	0.00	0.00
YOKEF	13.53	6.84	4.77	31.90	(13.13)	22.23
MICLF	1.40	0.33	(2.30)	0.00	0.00	33.11
JGHAF	0.00	0.00	0.00	0.00	0.00	0.00
CYJBF	0.86	0.31	0.59	0.00	0.00	26.89

Be your own money manager

Our tools can tell you how much better you can do entering a position in NGK Insulators 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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