Swelect Energy Correlations

SWELECTES

964.15 18.50 1.88%

The current 90-days correlation between Swelect Energy Systems and Kingfa Science Technology is 0.01 (i.e., Significant diversification). The correlation of Swelect Energy 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.

Swelect Energy Correlation With Market

Significant diversification

The correlation between Swelect Energy Systems and DJI is 0.09 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Swelect Energy Systems and DJI in the same portfolio, assuming nothing else is changed.

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

Moving against Swelect Stock

0.71	UNIONBANK	Union Bank	Pair Corr
0.67	MANINFRA	Man Infraconstruction	Pair Corr
0.67	DIXON	Dixon Technologies	Pair Corr
0.66	UNIDT	United Drilling Tools	Pair Corr
0.63	E2E	E2E Networks Limited	Pair Corr
0.38	DATAMATICS	Datamatics Global	Pair Corr

Related Correlations Analysis

	KINGFA	RICOAUTO	GATECHDVR	COSMOFIRST	DELTAMAGNT	TBZ	PARAGMILK	HEUBACHIND	CHEMCON	ARVIND
KINGFA		0.16	0.37	0.73	0.5	0.14	-0.27	0.21	-0.14	0.55	KINGFA
RICOAUTO	0.16		0.67	-0.33	-0.16	0.53	0.61	0.36	0.88	-0.09	RICOAUTO
GATECHDVR	0.37	0.67		0.04	0.17	0.47	0.41	0.22	0.66	0.37	GATECHDVR
COSMOFIRST	0.73	-0.33	0.04		0.71	-0.1	-0.46	-0.01	-0.56	0.71	COSMOFIRST
DELTAMAGNT	0.5	-0.16	0.17	0.71		0.09	-0.01	0.0	-0.28	0.7	DELTAMAGNT
TBZ	0.14	0.53	0.47	-0.1	0.09		0.51	0.22	0.61	0.05	TBZ
PARAGMILK	-0.27	0.61	0.41	-0.46	-0.01	0.51		0.27	0.76	-0.28	PARAGMILK
HEUBACHIND	0.21	0.36	0.22	-0.01	0.0	0.22	0.27		0.26	-0.01	HEUBACHIND
CHEMCON	-0.14	0.88	0.66	-0.56	-0.28	0.61	0.76	0.26		-0.25	CHEMCON
ARVIND	0.55	-0.09	0.37	0.71	0.7	0.05	-0.28	-0.01	-0.25		ARVIND
	KINGFA	RICOAUTO	GATECHDVR	COSMOFIRST	DELTAMAGNT	TBZ	PARAGMILK	HEUBACHIND	CHEMCON	ARVIND

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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

CHEMCON	+ 0.88	RICOAUTO
CHEMCON	+ 0.76	PARAGMILK
COSMOFIRST	+ 0.73	KINGFA
DELTAMAGNT	+ 0.71	COSMOFIRST
ARVIND	+ 0.71	COSMOFIRST
ARVIND	+ 0.7	DELTAMAGNT

High negative correlations

CHEMCON	- 0.56	COSMOFIRST
PARAGMILK	- 0.46	COSMOFIRST
COSMOFIRST	- 0.33	RICOAUTO
ARVIND	- 0.28	PARAGMILK
CHEMCON	- 0.28	DELTAMAGNT
PARAGMILK	- 0.27	KINGFA

Risk-Adjusted Indicators

There is a big difference between Swelect Stock performing well and Swelect Energy 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 Swelect Energy'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
KINGFA	2.06	0.25	0.12	0.42	1.77	(2.78)	4.98	(3.65)	10.87
RICOAUTO	2.09	(0.21)	0.00	(1.07)	0.00	0.00	3.36	(4.75)	27.84
GATECHDVR	1.98	(0.16)	0.00	(3.93)	0.00	0.00	4.00	(5.32)	12.29
COSMOFIRST	2.38	0.44	0.13	(0.96)	2.54	(2.52)	5.20	(5.49)	21.02
DELTAMAGNT	2.97	0.28	0.08	(8.53)	2.96	(3.44)	8.07	(4.79)	21.29
TBZ	2.47	(0.21)	0.00	(1.15)	0.00	0.00	6.01	(5.66)	16.19
PARAGMILK	2.03	(0.14)	0.00	(0.38)	0.00	0.00	4.25	(4.83)	12.83
HEUBACHIND	0.77	(0.33)	0.00	(0.80)	0.00	0.00	0.60	(1.03)	17.83
CHEMCON	1.17	(0.24)	0.00	(6.88)	0.00	0.00	2.23	(3.49)	7.46
ARVIND	2.47	0.25	0.10	0.55	2.25	(3.21)	4.27	(3.78)	24.08

Be your own money manager

Our tools can tell you how much better you can do entering a position in Swelect Energy 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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