Sunny Optical Correlations

SOTGY Stock

USD 74.38 1.03 1.40%

The current 90-days correlation between Sunny Optical Technology and Fabrinet is -0.03 (i.e., Good diversification). The correlation of Sunny Optical 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. If the correlation is 0, the equities are not correlated; they are entirely random.

Sunny Optical Correlation With Market

Average diversification

The correlation between Sunny Optical Technology 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 Sunny Optical Technology and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Sunny Pink Sheet

0.64	FLEX	Flex	Pair Corr
0.69	JBL	Jabil Circuit	Pair Corr
0.62	CRWD	Crowdstrike Holdings Earnings Call Tomorrow	Pair Corr
0.7	STLD	Steel Dynamics Fiscal Year End 28th of January 2025	Pair Corr

Moving against Sunny Pink Sheet

0.43	AMIX	Autonomix Medical, Common	Pair Corr
0.4	MRAAY	Murata Manufacturing	Pair Corr

Related Correlations Analysis

	FN	FLEX	SANM	PLXS	BHE	CTS	JBL	CLS	VICR	OLED
FN		0.53	0.36	0.44	0.51	0.49	0.57	0.43	0.44	-0.01	FN
FLEX	0.53		0.84	0.96	0.92	0.87	0.92	0.95	0.93	-0.54	FLEX
SANM	0.36	0.84		0.89	0.92	0.97	0.68	0.86	0.88	-0.7	SANM
PLXS	0.44	0.96	0.89		0.95	0.91	0.91	0.96	0.97	-0.56	PLXS
BHE	0.51	0.92	0.92	0.95		0.94	0.87	0.88	0.92	-0.46	BHE
CTS	0.49	0.87	0.97	0.91	0.94		0.76	0.87	0.91	-0.64	CTS
JBL	0.57	0.92	0.68	0.91	0.87	0.76		0.85	0.87	-0.3	JBL
CLS	0.43	0.95	0.86	0.96	0.88	0.87	0.85		0.95	-0.67	CLS
VICR	0.44	0.93	0.88	0.97	0.92	0.91	0.87	0.95		-0.61	VICR
OLED	-0.01	-0.54	-0.7	-0.56	-0.46	-0.64	-0.3	-0.67	-0.61		OLED
	FN	FLEX	SANM	PLXS	BHE	CTS	JBL	CLS	VICR	OLED

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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

CTS	+ 0.97	SANM
VICR	+ 0.97	PLXS
PLXS	+ 0.96	FLEX
CLS	+ 0.96	PLXS
CLS	+ 0.95	FLEX
BHE	+ 0.95	PLXS

High negative correlations

OLED	- 0.7	SANM
OLED	- 0.67	CLS
OLED	- 0.64	CTS
OLED	- 0.61	VICR
OLED	- 0.56	PLXS
OLED	- 0.54	FLEX

Risk-Adjusted Indicators

There is a big difference between Sunny Pink Sheet performing well and Sunny Optical 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 Sunny Optical'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
FN	2.46	(0.40)	0.00	(0.07)	0.00	0.00	4.68	(6.81)	16.19
FLEX	1.86	0.18	0.16	0.21	1.67	(2.40)	5.67	(2.91)	10.62
SANM	1.46	(0.01)	0.08	0.12	1.42	(1.70)	2.44	(2.64)	15.90
PLXS	1.40	0.19	0.18	0.22	1.18	(1.57)	3.38	(1.91)	12.92
BHE	1.66	(0.02)	0.07	0.11	1.78	(1.86)	3.32	(3.84)	13.28
CTS	1.56	(0.07)	0.05	0.09	1.65	(1.78)	3.28	(2.79)	15.09
JBL	1.33	0.12	0.13	0.19	1.21	(1.58)	2.80	(2.04)	15.06
CLS	2.53	0.64	0.21	0.48	2.75	(2.81)	5.42	(4.03)	20.61
VICR	2.52	0.40	0.19	0.32	2.29	(3.02)	8.87	(4.27)	21.20
OLED	1.68	(0.34)	0.00	(0.10)	0.00	0.00	3.04	(3.47)	15.98

Be your own money manager

Our tools can tell you how much better you can do entering a position in Sunny Optical 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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