Tokyo Electron Correlations

TOELF Stock

USD 276.00 3.20 1.17%

The current 90-days correlation between Tokyo Electron and Vulcan Materials is 0.15 (i.e., Average diversification). The correlation of Tokyo Electron 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.

Tokyo Electron Correlation With Market

Poor diversification

The correlation between Tokyo Electron and DJI is 0.72 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Tokyo Electron and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Tokyo Pink Sheet

0.91	ASML	ASML Holding NV Earnings Call Today	Pair Corr
0.91	LRCX	Lam Research Corp Earnings Call Today	Pair Corr
0.91	ASMLF	ASML Holding NV Earnings Call Today	Pair Corr
0.84	AMAT	Applied Materials	Pair Corr
0.92	KLAC	KLA Tencor	Pair Corr
0.97	TOELY	Tokyo Electron	Pair Corr
0.81	TER	Teradyne Earnings Call This Week	Pair Corr
0.9	ASMIY	ASM International	Pair Corr
0.85	ENTG	Entegris	Pair Corr
0.65	ACN	Accenture plc	Pair Corr
0.81	MARUF	Marubeni Earnings Call This Week	Pair Corr
0.62	SEBC	Southeastern Banking Corp	Pair Corr
0.77	SBSW	Sibanye Gold	Pair Corr
0.67	PNXPF	Planet Ventures	Pair Corr
0.7	KB	KB Financial Group	Pair Corr
0.77	DCI	Donaldson	Pair Corr
0.85	AEM	Agnico Eagle Mines	Pair Corr
0.64	YASKY	Yaskawa Electric Corp	Pair Corr

Moving against Tokyo Pink Sheet

0.53	GRLF	Green Leaf Innovations	Pair Corr
0.47	PKKFF	Tenet Fintech Group	Pair Corr

Related Correlations Analysis

	REOP	VMC	PRGS	KSRBF	JUTOY	MTLS	CGNT
REOP		0.51	0.21	0.58	0.43	-0.54	0.73	REOP
VMC	0.51		0.11	0.48	0.58	-0.31	0.49	VMC
PRGS	0.21	0.11		-0.08	-0.2	-0.05	0.29	PRGS
KSRBF	0.58	0.48	-0.08		0.77	-0.6	0.71	KSRBF
JUTOY	0.43	0.58	-0.2	0.77		-0.49	0.52	JUTOY
MTLS	-0.54	-0.31	-0.05	-0.6	-0.49		-0.47	MTLS
CGNT	0.73	0.49	0.29	0.71	0.52	-0.47		CGNT
	REOP	VMC	PRGS	KSRBF	JUTOY	MTLS	CGNT

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

JUTOY	+ 0.77	KSRBF
CGNT	+ 0.73	REOP
CGNT	+ 0.71	KSRBF
KSRBF	+ 0.58	REOP
JUTOY	+ 0.58	VMC
CGNT	+ 0.52	JUTOY

High negative correlations

MTLS	- 0.6	KSRBF
MTLS	- 0.54	REOP
MTLS	- 0.49	JUTOY
CGNT	- 0.47	MTLS
MTLS	- 0.31	VMC
JUTOY	- 0.2	PRGS

Risk-Adjusted Indicators

There is a big difference between Tokyo Pink Sheet performing well and Tokyo Electron 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 Tokyo Electron'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
REOP	0.88	0.08	0.01	0.27	1.30	(2.77)	2.56	(3.10)	9.45
VMC	1.09	(0.05)	(0.02)	0.02	1.69	(0.96)	2.10	(2.58)	8.21
PRGS	1.59	(0.22)	0.00	(0.09)	0.00	0.00	3.20	(3.74)	11.37
KSRBF	0.19	0.04	0.00	2.23	0.00	0.00	0.00	0.00	6.16
JUTOY	0.54	(0.02)	0.00	0.04	0.00	0.00	0.00	0.00	15.00
MTLS	2.33	(0.07)	0.00	(0.01)	0.00	0.00	5.02	(4.04)	18.56
CGNT	1.57	0.17	0.06	0.33	2.13	(1.62)	3.70	(3.75)	13.68

Be your own money manager

Our tools can tell you how much better you can do entering a position in Tokyo Electron 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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