Oxford Instruments Correlations

OXINF Stock

USD 29.08 5.29 22.24%

The current 90-days correlation between Oxford Instruments plc and ams AG 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

Average diversification

The correlation between Oxford Instruments plc and DJI is 0.1 (i.e., Average 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 together with Oxford Pink Sheet

0.61	ASML	ASML Holding NV	Pair Corr
0.62	ASMLF	ASML Holding NV	Pair Corr
0.62	TOELY	Tokyo Electron	Pair Corr
0.71	ASMIY	ASM International	Pair Corr
0.7	ENTG	Entegris Tech Boost	Pair Corr
0.7	PK	Park Hotels Resorts	Pair Corr
0.64	TATT	Tat Techno	Pair Corr
0.61	RKLB	Rocket Lab USA Aggressive Push	Pair Corr
0.74	BLAGF	Blue Lagoon Resources	Pair Corr
0.71	NVO	Novo Nordisk AS Buyout Trend	Pair Corr

Moving against Oxford Pink Sheet

0.33	KODK	Eastman Kodak	Pair Corr
0.32	AMPY	Amplify Energy Corp	Pair Corr
0.31	KZIA	Kazia Therapeutics	Pair Corr
0.31	CSCO	Cisco Systems Sell-off Trend	Pair Corr

Related Correlations Analysis

	AUKUF	SILXY	ASMVY	SLOIY	SSLLF	AITUY	SFDMY	ASAAF	SILXF	ATEAY
AUKUF		0.24	0.32	0.89	0.45	0.0	0.0	-0.61	0.24	-0.67	AUKUF
SILXY	0.24		-0.17	0.36	0.27	0.0	0.0	-0.16	0.98	0.02	SILXY
ASMVY	0.32	-0.17		0.34	-0.28	0.0	0.0	-0.43	-0.18	-0.05	ASMVY
SLOIY	0.89	0.36	0.34		0.47	0.0	0.0	-0.64	0.35	-0.61	SLOIY
SSLLF	0.45	0.27	-0.28	0.47		0.0	0.0	-0.33	0.27	-0.55	SSLLF
AITUY	0.0	0.0	0.0	0.0	0.0		0.0	0.0	0.0	0.0	AITUY
SFDMY	0.0	0.0	0.0	0.0	0.0	0.0		0.0	0.0	0.0	SFDMY
ASAAF	-0.61	-0.16	-0.43	-0.64	-0.33	0.0	0.0		-0.14	0.48	ASAAF
SILXF	0.24	0.98	-0.18	0.35	0.27	0.0	0.0	-0.14		0.03	SILXF
ATEAY	-0.67	0.02	-0.05	-0.61	-0.55	0.0	0.0	0.48	0.03		ATEAY
	AUKUF	SILXY	ASMVY	SLOIY	SSLLF	AITUY	SFDMY	ASAAF	SILXF	ATEAY

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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

SILXF	+ 0.98	SILXY
SLOIY	+ 0.89	AUKUF
ATEAY	+ 0.48	ASAAF
SSLLF	+ 0.47	SLOIY
SSLLF	+ 0.45	AUKUF
SLOIY	+ 0.36	SILXY

High negative correlations

ATEAY	- 0.67	AUKUF
ASAAF	- 0.64	SLOIY
ATEAY	- 0.61	SLOIY
ASAAF	- 0.61	AUKUF
ATEAY	- 0.55	SSLLF
ASAAF	- 0.43	ASMVY

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
AUKUF	1.23	(0.27)	0.00	2.67	0.00	0.00	3.25	(4.39)	30.50
SILXY	4.10	(0.19)	(0.01)	0.00	6.98	(3.99)	10.64	(8.34)	43.92
ASMVY	2.00	0.19	0.06	0.40	2.38	(2.12)	4.29	(4.24)	16.81
SLOIY	1.42	(0.57)	0.00	3.09	0.00	0.00	0.00	0.00	43.28
SSLLF	0.35	(0.15)	0.00	1.52	0.00	0.00	0.00	0.00	11.75
AITUY	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
SFDMY	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
ASAAF	1.16	0.64	0.00	(0.80)	0.00	0.00	0.00	0.00	39.51
SILXF	3.81	(0.16)	(0.01)	0.02	6.09	(4.24)	7.80	(7.05)	38.49
ATEAY	0.89	0.26	0.00	(1.27)	0.00	0.00	4.54	(0.68)	17.19

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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