Nexteer Automotive Correlations

NTXVF Stock  USD 0.39  0.00  0.00%   
The current 90-days correlation between Nexteer Automotive and Adient PLC is -0.03 (i.e., Good diversification). The correlation of Nexteer Automotive 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.

Nexteer Automotive Correlation With Market

Good diversification

The correlation between Nexteer Automotive Group and DJI is -0.1 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Nexteer Automotive Group and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to Nexteer Automotive could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Nexteer Automotive 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 Nexteer Automotive - 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 Nexteer Automotive Group to buy it.

Moving together with Nexteer Pink Sheet

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  0.65CVX Chevron Corp Sell-off TrendPairCorr

Moving against Nexteer Pink Sheet

  0.31BRDCY Bridgestone Corp ADRPairCorr
  0.53JNJ Johnson Johnson Fiscal Year End 28th of January 2025 PairCorr
  0.41PFE Pfizer Inc Aggressive PushPairCorr
  0.36KO Coca Cola Sell-off TrendPairCorr
  0.33BA Boeing Fiscal Year End 29th of January 2025 PairCorr

Related Correlations Analysis

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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   
FOXFADNT
DANADNT
DANFOXF
MGAAXL
AXLALV
MGAALV
  
High negative correlations   
MGAFOXF
FOXFALV
BWAHLLY
MGAHLLY
DANMGA
ALVADNT

Risk-Adjusted Indicators

There is a big difference between Nexteer Pink Sheet performing well and Nexteer Automotive 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 Nexteer Automotive'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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
ADNT  1.92 (0.36) 0.00 (0.13) 0.00 
 4.08 
 10.66 
HLLY  2.03 (0.13) 0.00  0.64  0.00 
 3.65 
 10.31 
ECX  3.02  0.11  0.01  0.56  4.22 
 7.41 
 27.99 
ALV  1.55 (0.05) 0.00 (0.67) 0.00 
 2.80 
 8.85 
FOXF  1.97 (0.49) 0.00 (0.14) 0.00 
 3.31 
 15.31 
BWA  1.33 (0.10)(0.04) 0.03  1.68 
 2.84 
 7.85 
AXL  2.02 (0.17)(0.02) 0.04  2.19 
 5.00 
 12.38 
MGA  1.64 (0.03) 0.00  0.09  2.25 
 3.06 
 11.56 
DAN  2.78 (0.35) 0.00 (0.02) 0.00 
 5.53 
 22.77 
GNTX  1.14 (0.09)(0.08)(0.01) 1.43 
 2.24 
 7.93 

Be your own money manager

Our tools can tell you how much better you can do entering a position in Nexteer Automotive 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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Nexteer Automotive Corporate Management

Lynn PavlawkStrategic MarketingProfile
Ot BensonVP PresProfile
Zili LeiCEO ChairmanProfile
Tony WangInvestor DirectorProfile
Giuseppe ZichellaVP SalesProfile