Tokyo Electron Correlations
| TOELF Stock | USD 280.59 7.87 2.89% |
The current 90-days correlation between Tokyo Electron and 24SevenOffice Group AB is -0.11 (i.e., Good 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
Very poor diversification
The correlation between Tokyo Electron and DJI is 0.8 (i.e., Very 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.
Tokyo |
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
| 0.95 | ASML | ASML Holding NV Sell-off Trend | PairCorr |
| 0.95 | LRCX | Lam Research Corp Aggressive Push | PairCorr |
| 0.91 | AMAT | Applied Materials Buyout Trend | PairCorr |
| 0.95 | ASMLF | ASML Holding NV | PairCorr |
| 0.93 | ENTG | Entegris | PairCorr |
| 0.9 | KLAC | KLA Tencor | PairCorr |
| 0.98 | TOELY | Tokyo Electron | PairCorr |
| 0.84 | TER | Teradyne | PairCorr |
| 0.96 | ASMIY | ASM International | PairCorr |
| 0.88 | FINN | First National | PairCorr |
| 0.62 | HYMTF | Hyundai Motor | PairCorr |
| 0.78 | SKM | SK Telecom | PairCorr |
| 0.71 | SHG | Shinhan Financial | PairCorr |
| 0.73 | CINGW | Cingulate Warrants | PairCorr |
| 0.66 | BMBOY | Grupo Bimbo SAB | PairCorr |
| 0.73 | SFNC | Simmons First National | PairCorr |
| 0.91 | MDALF | MDA | PairCorr |
| 0.62 | ALLE | Allegion PLC Earnings Call This Week | PairCorr |
| 0.63 | SPEG | Silver Pegasus Acqui | PairCorr |
| 0.67 | GNTX | Gentex | PairCorr |
| 0.78 | ACFN | Acorn Energy Common Tech Boost | PairCorr |
| 0.85 | ULBI | Ultralife | PairCorr |
| 0.86 | LYTS | LSI Industries | PairCorr |
| 0.88 | PPCLY | PPC Ltd ADR | PairCorr |
| 0.84 | SJ | Scienjoy Holding Corp | PairCorr |
| 0.68 | PAZRF | Plaza Retail REIT | PairCorr |
| 0.88 | F-PC | Ford Motor | PairCorr |
Moving against Tokyo Pink Sheet
Related Correlations Analysis
| -0.49 | 0.21 | -0.33 | 0.0 | 0.01 | 0.23 | CWGL | ||
| -0.49 | -0.37 | 0.34 | 0.0 | 0.33 | -0.29 | ONL | ||
| 0.21 | -0.37 | -0.8 | 0.0 | 0.33 | 0.81 | MRT | ||
| -0.33 | 0.34 | -0.8 | 0.0 | -0.47 | -0.66 | EVTZF | ||
| 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | DWWEF | ||
| 0.01 | 0.33 | 0.33 | -0.47 | 0.0 | 0.34 | BDN | ||
| 0.23 | -0.29 | 0.81 | -0.66 | 0.0 | 0.34 | TFSVF | ||
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
| High negative correlations
|
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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| CWGL | 0.83 | (0.09) | 0.00 | (0.97) | 0.00 | 1.81 | 6.11 | |||
| ONL | 2.24 | 0.06 | 0.02 | 0.13 | 2.27 | 4.48 | 24.81 | |||
| MRT | 1.95 | (0.24) | 0.00 | (1.10) | 0.00 | 2.79 | 20.93 | |||
| EVTZF | 1.06 | 0.41 | 0.00 | 1.80 | 0.00 | 3.24 | 12.59 | |||
| DWWEF | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
| BDN | 1.78 | (0.08) | 0.00 | (0.08) | 0.00 | 3.90 | 15.16 | |||
| TFSVF | 0.37 | (0.20) | 0.00 | (2.54) | 0.00 | 0.00 | 12.50 |
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.Did you try this?
Run Share Portfolio Now
Share PortfolioTrack or share privately all of your investments from the convenience of any device |
| All Next | Launch Module |