CEVA Correlations

PVJA Stock

EUR 28.00 0.60 2.19%

The current 90-days correlation between CEVA Inc and Computer And Technologies is 0.1 (i.e., Average diversification). The correlation of CEVA 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.

CEVA Correlation With Market

Average diversification

The correlation between CEVA Inc and DJI is 0.18 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding CEVA Inc and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with CEVA Stock

0.68	NVD	NVIDIA	Pair Corr
0.72	NVD	NVIDIA	Pair Corr
0.73	INL	Intel	Pair Corr
0.71	INL	Intel	Pair Corr
0.8	UF0	UDR Inc	Pair Corr
0.92	YMI	Yellow Pages Limited	Pair Corr

Moving against CEVA Stock

0.37

DBPD

Xtrackers ShortDAX

Pair Corr

Related Correlations Analysis

	2XT	AFW	CVB	I43	TQ4	PYA	AMK	VHY
2XT		0.06	-0.79	0.04	0.0	0.82	-0.57	-0.04	2XT
AFW	0.06		-0.16	-0.3	0.0	0.06	0.21	0.17	AFW
CVB	-0.79	-0.16		-0.06	0.0	-0.87	0.71	0.13	CVB
I43	0.04	-0.3	-0.06		0.0	0.32	0.0	0.04	I43
TQ4	0.0	0.0	0.0	0.0		0.0	0.0	0.0	TQ4
PYA	0.82	0.06	-0.87	0.32	0.0		-0.61	-0.18	PYA
AMK	-0.57	0.21	0.71	0.0	0.0	-0.61		0.45	AMK
VHY	-0.04	0.17	0.13	0.04	0.0	-0.18	0.45		VHY
	2XT	AFW	CVB	I43	TQ4	PYA	AMK	VHY

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

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

PYA	+ 0.82	2XT
AMK	+ 0.71	CVB
VHY	+ 0.45	AMK
PYA	+ 0.32	I43
AMK	+ 0.21	AFW
VHY	+ 0.17	AFW

High negative correlations

PYA	- 0.87	CVB
CVB	- 0.79	2XT
AMK	- 0.61	PYA
AMK	- 0.57	2XT
I43	- 0.3	AFW
VHY	- 0.18	PYA

Risk-Adjusted Indicators

There is a big difference between CEVA Stock performing well and CEVA 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 CEVA'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 Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
2XT	1.70	0.13	0.05	0.30	1.87	(2.02)	3.49	(3.87)	12.35
AFW	1.50	0.02	(0.01)	0.13	1.72	(1.69)	3.35	(2.65)	12.53
CVB	0.72	(0.17)	0.00	(0.56)	0.00	0.00	0.00	(4.76)	10.26
I43	1.12	0.02	(0.05)	0.64	1.64	(1.19)	2.53	(2.95)	7.95
TQ4	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
PYA	2.43	0.60	0.25	1.14	1.70	(3.33)	6.86	(3.09)	17.12
AMK	1.82	(0.34)	0.00	(0.21)	0.00	0.00	3.46	(4.25)	11.07
VHY	1.72	(0.12)	(0.02)	0.04	1.85	(1.97)	3.23	(3.40)	13.56

Be your own money manager

Our tools can tell you how much better you can do entering a position in CEVA 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.

Did you try this?

Run Cryptocurrency Center Now

Cryptocurrency Center

Build and monitor diversified portfolio of extremely risky digital assets and cryptocurrency

All Next

Launch Module

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2024 Macroaxis LLC