Tokyo Electron Correlations

TOELY Stock

USD 70.36 1.08 1.56%

The current 90-days correlation between Tokyo Electron and Tokyo Electron is 0.25 (i.e., Modest 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. If the correlation is 0, the equities are not correlated; they are entirely random.

Tokyo Electron Correlation With Market

Significant diversification

The correlation between Tokyo Electron Ltd and DJI is 0.02 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Tokyo Electron Ltd 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 Ltd to buy it.

Moving together with Tokyo Pink Sheet

0.9	ASMLF	ASML Holding NV	Pair Corr
0.89	ASML	ASML Holding NV Fiscal Year End 22nd of January 2025	Pair Corr
0.78	AMAT	Applied Materials	Pair Corr
0.82	LRCX	Lam Research Corp	Pair Corr
0.87	KLAC	KLA Tencor	Pair Corr
0.94	TOELF	Tokyo Electron	Pair Corr
0.84	ASMXF	ASM International	Pair Corr
0.8	TER	Teradyne	Pair Corr

Moving against Tokyo Pink Sheet

0.63	PTAIF	PT Astra International	Pair Corr
0.49	PANW	Palo Alto Networks	Pair Corr
0.49	EWTX	Edgewise Therapeutics	Pair Corr
0.46	ASMIY	ASM International	Pair Corr
0.45	SSNLF	Samsung Electronics	Pair Corr
0.41	RCAT	Red Cat Holdings Trending	Pair Corr
0.38	CLSK	CleanSpark Earnings Call This Week	Pair Corr
0.73	MRVL	Marvell Technology Earnings Call This Week	Pair Corr
0.7	IONQ	IONQ Inc Trending	Pair Corr
0.69	ENB	Enbridge	Pair Corr
0.68	SCHW	Charles Schwab Corp Fiscal Year End 15th of January 2025	Pair Corr
0.67	NFLX	Netflix Fiscal Year End 28th of January 2025	Pair Corr
0.66	GVA	Granite Construction	Pair Corr
0.65	LMND	Lemonade Trending	Pair Corr
0.62	AXON	Axon Enterprise	Pair Corr
0.61	PX	P10 Inc	Pair Corr
0.61	LUNR	Intuitive Machines Trending	Pair Corr
0.6	QUBT	Quantum Computing Upward Rally	Pair Corr
0.57	FTNT	Fortinet	Pair Corr
0.56	GNPX	Genprex	Pair Corr
0.54	DUOL	Duolingo	Pair Corr

Related Correlations Analysis

	ADTTF	DSCSY	TER	LSRCY	SUOPY	ASMVY	DINRF	TOELF	LSRCF	ASMIY
ADTTF		0.33	-0.91	-0.85	-0.83	-0.4	-0.87	-0.7	-0.86	0.76	ADTTF
DSCSY	0.33		-0.25	0.07	0.11	-0.01	-0.51	0.18	0.05	0.53	DSCSY
TER	-0.91	-0.25		0.84	0.85	0.45	0.79	0.79	0.84	-0.75	TER
LSRCY	-0.85	0.07	0.84		0.93	0.39	0.69	0.82	0.96	-0.58	LSRCY
SUOPY	-0.83	0.11	0.85	0.93		0.52	0.63	0.88	0.91	-0.6	SUOPY
ASMVY	-0.4	-0.01	0.45	0.39	0.52		0.18	0.6	0.33	-0.45	ASMVY
DINRF	-0.87	-0.51	0.79	0.69	0.63	0.18		0.44	0.72	-0.79	DINRF
TOELF	-0.7	0.18	0.79	0.82	0.88	0.6	0.44		0.79	-0.44	TOELF
LSRCF	-0.86	0.05	0.84	0.96	0.91	0.33	0.72	0.79		-0.6	LSRCF
ASMIY	0.76	0.53	-0.75	-0.58	-0.6	-0.45	-0.79	-0.44	-0.6		ASMIY
	ADTTF	DSCSY	TER	LSRCY	SUOPY	ASMVY	DINRF	TOELF	LSRCF	ASMIY

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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

LSRCF	+ 0.96	LSRCY
SUOPY	+ 0.93	LSRCY
LSRCF	+ 0.91	SUOPY
TOELF	+ 0.88	SUOPY
SUOPY	+ 0.85	TER
LSRCY	+ 0.84	TER

High negative correlations

TER	- 0.91	ADTTF
DINRF	- 0.87	ADTTF
LSRCF	- 0.86	ADTTF
LSRCY	- 0.85	ADTTF
SUOPY	- 0.83	ADTTF
ASMIY	- 0.79	DINRF

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
ADTTF	1.21	0.63	0.00	(6.85)	0.00	0.00	5.41	0.00	15.75
DSCSY	2.77	(0.32)	0.00	(0.07)	0.00	0.00	5.02	(6.32)	16.54
TER	2.02	(0.50)	0.00	(0.17)	0.00	0.00	3.61	(3.70)	16.21
LSRCY	2.36	(0.86)	0.00	(3.18)	0.00	0.00	4.00	(5.75)	21.10
SUOPY	2.08	(0.60)	0.00	(0.94)	0.00	0.00	3.27	(5.31)	17.64
ASMVY	1.74	(0.21)	0.00	1.23	0.00	0.00	4.69	(4.71)	12.88
DINRF	4.25	(0.38)	0.00	(0.38)	0.00	0.00	9.19	(11.57)	28.72
TOELF	2.72	(0.57)	0.00	(0.37)	0.00	0.00	6.28	(4.89)	18.02
LSRCF	1.56	(0.67)	0.00	4.60	0.00	0.00	0.28	(6.28)	19.72
ASMIY	2.27	0.63	0.21	(10.41)	2.15	(2.57)	4.09	(3.61)	17.73

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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