Oxford Instruments Correlations

OXINF Stock

USD 23.79 0.00 0.00%

The current 90-days correlation between Oxford Instruments plc and Sanken Electric Co is 0.01 (i.e., Significant diversification). The correlation of Oxford Instruments 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.

Oxford Instruments Correlation With Market

Significant diversification

The correlation between Oxford Instruments plc and DJI is 0.05 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Oxford Instruments plc and DJI in the same portfolio, assuming nothing else is changed.

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

Moving against Oxford Pink Sheet

0.66	KB	KB Financial Group	Pair Corr
0.54	TER	Teradyne	Pair Corr
0.52	AMAT	Applied Materials	Pair Corr
0.52	FINN	First National	Pair Corr
0.4	LRCX	Lam Research Corp Aggressive Push	Pair Corr
0.4	HYMTF	Hyundai Motor	Pair Corr
0.38	ASMLF	ASML Holding NV	Pair Corr
0.38	KLAC	KLA Tencor	Pair Corr
0.33	ASML	ASML Holding NV	Pair Corr
0.76	ACRE	Ares Commercial Real	Pair Corr
0.76	MATV	Mativ Holdings	Pair Corr
0.7	ISUZY	Isuzu Motors	Pair Corr
0.67	XMTR	Xometry	Pair Corr
0.63	GOOGL	Alphabet Class A Sell-off Trend	Pair Corr
0.52	BNEFF	Bonterra Energy Corp	Pair Corr
0.39	ADSE	Ads Tec Energy	Pair Corr
0.37	AATV	Adaptive Ad Systems	Pair Corr
0.34	AGPPF	Anglo American Platinum	Pair Corr
0.76	PHAR	Pharming Group NV	Pair Corr
0.67	CSIQ	Canadian Solar	Pair Corr
0.61	HL	Hecla Mining	Pair Corr
0.57	SGML	Sigma Lithium Resources	Pair Corr

Related Correlations Analysis

	PYPTF	SANJF	MITNF	MSTSX	ABHYX	LBHIX	SCAXF	VIASP	RRTLX	JRBEX
PYPTF		0.05	0.0	0.42	-0.09	-0.52	-0.81	-0.11	0.11	-0.21	PYPTF
SANJF	0.05		0.0	0.06	0.58	0.09	0.2	0.69	0.12	0.36	SANJF
MITNF	0.0	0.0		0.0	0.0	0.0	0.0	0.0	0.0	0.0	MITNF
MSTSX	0.42	0.06	0.0		-0.05	-0.29	-0.31	-0.09	0.69	0.07	MSTSX
ABHYX	-0.09	0.58	0.0	-0.05		0.2	0.51	0.67	0.22	0.61	ABHYX
LBHIX	-0.52	0.09	0.0	-0.29	0.2		0.63	0.34	-0.21	0.51	LBHIX
SCAXF	-0.81	0.2	0.0	-0.31	0.51	0.63		0.36	0.05	0.61	SCAXF
VIASP	-0.11	0.69	0.0	-0.09	0.67	0.34	0.36		-0.02	0.54	VIASP
RRTLX	0.11	0.12	0.0	0.69	0.22	-0.21	0.05	-0.02		0.22	RRTLX
JRBEX	-0.21	0.36	0.0	0.07	0.61	0.51	0.61	0.54	0.22		JRBEX
	PYPTF	SANJF	MITNF	MSTSX	ABHYX	LBHIX	SCAXF	VIASP	RRTLX	JRBEX

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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

VIASP	+ 0.69	SANJF
RRTLX	+ 0.69	MSTSX
VIASP	+ 0.67	ABHYX
SCAXF	+ 0.63	LBHIX
JRBEX	+ 0.61	ABHYX
JRBEX	+ 0.61	SCAXF

High negative correlations

SCAXF	- 0.81	PYPTF
LBHIX	- 0.52	PYPTF
SCAXF	- 0.31	MSTSX
LBHIX	- 0.29	MSTSX
RRTLX	- 0.21	LBHIX
JRBEX	- 0.21	PYPTF

Risk-Adjusted Indicators

There is a big difference between Oxford Pink Sheet performing well and Oxford Instruments 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 Oxford Instruments' 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
PYPTF	0.89	(0.20)	0.00	3.83	0.00	0.00	0.00	0.00	37.51
SANJF	0.70	0.27	0.00	1.35	0.00	0.00	0.00	0.00	27.26
MITNF	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
MSTSX	0.66	(0.13)	0.00	(1.70)	0.00	0.00	0.91	(1.15)	9.75
ABHYX	0.09	0.01	(0.25)	(3.46)	0.00	(0.18)	0.23	(0.12)	0.92
LBHIX	8.92	4.78	18.21	(1.09)	0.00	(16.87)	0.47	(0.24)	299.19
SCAXF	13.14	6.19	0.00	0.59	0.00	0.00	0.00	0.00	376.19
VIASP	0.38	0.03	(0.04)	0.38	0.48	(0.40)	0.94	(0.74)	2.95
RRTLX	0.31	(0.08)	0.00	(0.18)	0.00	0.00	0.61	(0.61)	5.37
JRBEX	0.33	0.00	(0.06)	0.06	0.38	(0.34)	0.68	(0.64)	1.73

Be your own money manager

Our tools can tell you how much better you can do entering a position in Oxford Instruments 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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