Safetech Innovations Correlations
| SAFE Stock | 0.90 0.01 1.12% |
The current 90-days correlation between Safetech Innovations and IHUNT TECHNOLOGY IMPORT EXPORT is -0.03 (i.e., Good diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Safetech Innovations moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Safetech Innovations SA moves in either direction, the perfectly negatively correlated security will move in the opposite direction.
Safetech Innovations Correlation With Market
Very good diversification
The correlation between Safetech Innovations SA and DJI is -0.39 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Safetech Innovations SA and DJI in the same portfolio, assuming nothing else is changed.
Safetech |
The ability to find closely correlated positions to Safetech Innovations could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Safetech Innovations 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 Safetech Innovations - 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 Safetech Innovations SA to buy it.
Moving against Safetech Stock
| 0.6 | RRC | Rompetrol Rafi | PairCorr |
| 0.53 | INFINITY | Infinity Capital Inv | PairCorr |
| 0.53 | EVER | Evergent Investments | PairCorr |
| 0.52 | EFO | Turism Hotelur | PairCorr |
| 0.43 | HUNT | IHUNT TECHNOLOGY IMPORT | PairCorr |
| 0.38 | PBK | Patria Bank SA | PairCorr |
| 0.36 | EBS | Erste Group Bank | PairCorr |
| 0.33 | PPL | Promateris SA | PairCorr |
Related Correlations Analysis
Risk-Adjusted Indicators
There is a big difference between Safetech Stock performing well and Safetech Innovations 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 Safetech Innovations' 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| INFINITY | 1.16 | 0.39 | 0.23 | (9.60) | 0.86 | 3.73 | 8.31 | |||
| EFO | 2.45 | 0.22 | 0.02 | (0.24) | 3.09 | 5.88 | 25.74 | |||
| TRANSI | 1.45 | 0.46 | 0.19 | (0.65) | 0.95 | 3.92 | 8.08 | |||
| EVER | 1.21 | 0.43 | 0.24 | 1.55 | 0.74 | 3.64 | 10.19 | |||
| HUNT | 1.88 | 0.60 | 0.16 | (1.56) | 1.19 | 5.56 | 22.80 |
Safetech Innovations Related Equities
One of the popular trading techniques among algorithmic traders is to use market-neutral strategies where every trade hedges away some risk. Because there are two separate transactions required, even if one position performs unexpectedly, the other equity can make up some of the losses. Below are some of the equities that can be combined with Safetech Innovations stock to make a market-neutral strategy. Peer analysis of Safetech Innovations could also be used in its relative valuation, which is a method of valuing Safetech Innovations by comparing valuation metrics with similar companies.
| Risk & Return | Correlation |