Sumco Corp Correlations

SUOPY Stock

USD 14.80 0.26 1.73%

The current 90-days correlation between Sumco Corp ADR and Asm Pacific Technology is 0.21 (i.e., Modest diversification). The correlation of Sumco Corp 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.

Sumco Corp Correlation With Market

Modest diversification

The correlation between Sumco Corp ADR and DJI is 0.27 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Sumco Corp ADR and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Sumco Pink Sheet

0.89	PPERY	Bank Mandiri Persero	Pair Corr
0.87	PPERF	Bank Mandiri Persero	Pair Corr
0.68	BKRKF	PT Bank Rakyat Earnings Call This Week	Pair Corr
0.64	TLKMF	Telkom Indonesia Tbk	Pair Corr
0.67	TLK	Telkom Indonesia Tbk	Pair Corr
0.71	PTAIY	Astra International Tbk	Pair Corr
0.65	PTAIF	PT Astra International	Pair Corr
0.76	PBCRF	PT Bank Central	Pair Corr
0.84	PBCRY	Bank Central Asia	Pair Corr

Moving against Sumco Pink Sheet

0.74	TER	Teradyne	Pair Corr
0.61	ASML	ASML Holding NV	Pair Corr
0.6	ASMLF	ASML Holding NV	Pair Corr
0.45	ASMXF	ASM International Upward Rally	Pair Corr
0.39	TOELY	Tokyo Electron Earnings Call This Week	Pair Corr
0.37	TOELF	Tokyo Electron Earnings Call This Week	Pair Corr
0.85	PLTR	Palantir Technologies Earnings Call This Week	Pair Corr
0.74	VIST	Vista Oil Gas	Pair Corr
0.73	V	Visa Class A	Pair Corr
0.71	LPTH	LightPath Technologies Earnings Call This Week	Pair Corr
0.7	GILT	Gilat Satellite Networks	Pair Corr
0.31	CHKP	Check Point Software Earnings Call This Week	Pair Corr

Related Correlations Analysis

	LSRCF	ASMVY	DSCSY	TOELF	DINRF	AIXXF	LSRCY	ADTTF
LSRCF		0.78	-0.22	-0.36	0.89	0.35	0.91	-0.52	LSRCF
ASMVY	0.78		-0.15	-0.1	0.63	0.63	0.82	-0.64	ASMVY
DSCSY	-0.22	-0.15		0.46	-0.33	-0.21	-0.17	0.26	DSCSY
TOELF	-0.36	-0.1	0.46		-0.55	0.04	-0.33	0.05	TOELF
DINRF	0.89	0.63	-0.33	-0.55		0.21	0.87	-0.39	DINRF
AIXXF	0.35	0.63	-0.21	0.04	0.21		0.3	-0.24	AIXXF
LSRCY	0.91	0.82	-0.17	-0.33	0.87	0.3		-0.62	LSRCY
ADTTF	-0.52	-0.64	0.26	0.05	-0.39	-0.24	-0.62		ADTTF
	LSRCF	ASMVY	DSCSY	TOELF	DINRF	AIXXF	LSRCY	ADTTF

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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

LSRCY	+ 0.91	LSRCF
DINRF	+ 0.89	LSRCF
LSRCY	+ 0.87	DINRF
LSRCY	+ 0.82	ASMVY
ASMVY	+ 0.78	LSRCF
DINRF	+ 0.63	ASMVY

High negative correlations

ADTTF	- 0.64	ASMVY
ADTTF	- 0.62	LSRCY
DINRF	- 0.55	TOELF
ADTTF	- 0.52	LSRCF
ADTTF	- 0.39	DINRF
TOELF	- 0.36	LSRCF

Risk-Adjusted Indicators

There is a big difference between Sumco Pink Sheet performing well and Sumco Corp 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 Sumco Corp'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
LSRCF	1.23	(0.45)	0.00	0.97	0.00	0.00	0.28	(4.89)	27.67
ASMVY	1.71	(0.33)	0.00	(1.61)	0.00	0.00	4.09	(3.63)	9.23
DSCSY	2.55	0.31	0.07	4.64	2.97	(2.77)	5.02	(4.85)	23.41
TOELF	2.74	0.06	0.00	0.24	2.83	(3.46)	6.91	(4.72)	17.54
DINRF	4.10	(0.82)	0.00	(0.81)	0.00	0.00	7.26	(11.57)	28.56
AIXXF	2.17	(0.17)	0.00	1.51	0.00	0.00	4.65	(6.31)	14.45
LSRCY	1.91	(0.56)	0.00	(1.37)	0.00	0.00	3.13	(4.87)	13.38
ADTTF	1.02	0.40	0.00	(1.19)	0.00	0.00	0.00	0.00	25.45

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Our tools can tell you how much better you can do entering a position in Sumco Corp 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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