Oxford Instruments Correlations

OXINF Stock

USD 36.00 0.50 1.41%

The current 90-days correlation between Oxford Instruments plc and Appen Limited is -0.02 (i.e., Good 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

Poor diversification

The correlation between Oxford Instruments plc and DJI is 0.73 (i.e., Poor 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

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0.87	MDDVF	Medical Developments	Pair Corr
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Moving against Oxford Pink Sheet

0.75

PBCRF

PT Bank Central

Pair Corr

Related Correlations Analysis

	FRDSF	APPEF	TSPH	FHGDF	THNCF	TDMMF	ENADF	ARRXF
FRDSF		-0.82	0.2	0.65	-0.59	0.37	-0.78	-0.27	FRDSF
APPEF	-0.82		-0.23	-0.63	0.47	-0.31	0.8	0.05	APPEF
TSPH	0.2	-0.23		0.22	-0.18	-0.37	-0.42	-0.13	TSPH
FHGDF	0.65	-0.63	0.22		-0.93	-0.01	-0.85	-0.53	FHGDF
THNCF	-0.59	0.47	-0.18	-0.93		0.07	0.74	0.59	THNCF
TDMMF	0.37	-0.31	-0.37	-0.01	0.07		-0.04	0.21	TDMMF
ENADF	-0.78	0.8	-0.42	-0.85	0.74	-0.04		0.36	ENADF
ARRXF	-0.27	0.05	-0.13	-0.53	0.59	0.21	0.36		ARRXF
	FRDSF	APPEF	TSPH	FHGDF	THNCF	TDMMF	ENADF	ARRXF

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

ENADF	+ 0.8	APPEF
ENADF	+ 0.74	THNCF
FHGDF	+ 0.65	FRDSF
ARRXF	+ 0.59	THNCF
THNCF	+ 0.47	APPEF
TDMMF	+ 0.37	FRDSF

High negative correlations

THNCF	- 0.93	FHGDF
ENADF	- 0.85	FHGDF
APPEF	- 0.82	FRDSF
ENADF	- 0.78	FRDSF
FHGDF	- 0.63	APPEF
THNCF	- 0.59	FRDSF

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
FRDSF	2.39	(1.13)	0.00	0.48	0.00	0.00	0.00	0.00	80.00
APPEF	4.41	1.96	0.00	(1.79)	0.00	0.00	5.88	0.00	145.10
TSPH	6.09	(0.05)	0.00	(0.06)	0.00	0.00	14.29	(9.52)	82.72
FHGDF	1.61	(0.19)	0.00	(0.10)	0.00	0.00	0.00	0.00	53.33
THNCF	1.08	0.07	0.01	(0.34)	1.35	(3.04)	2.29	(2.04)	18.52
TDMMF	2.85	(0.66)	0.00	(0.66)	0.00	0.00	0.00	0.00	81.84
ENADF	0.17	0.08	0.00	(1.69)	0.00	0.00	0.00	0.00	3.73
ARRXF	4.48	0.35	0.03	(0.20)	5.65	(6.00)	9.09	(11.54)	29.10

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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