THORNEY TECHS Correlations

TTG Stock

EUR 0.08 0 3.11%

The current 90-days correlation between THORNEY TECHS LTD and SERI INDUSTRIAL EO is 0.04 (i.e., Significant diversification). The correlation of THORNEY TECHS 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.

THORNEY TECHS Correlation With Market

Modest diversification

The correlation between THORNEY TECHS LTD and DJI is 0.22 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding THORNEY TECHS LTD and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with THORNEY Stock

0.76	APC	Apple Inc	Pair Corr
0.79	APC	Apple Inc	Pair Corr
0.77	APC	Apple Inc	Pair Corr
0.75	APC	Apple Inc	Pair Corr
0.77	APC	Apple Inc	Pair Corr
0.77	APC	Apple Inc	Pair Corr
0.66	MSF	Microsoft	Pair Corr
0.63	MSF	Microsoft	Pair Corr
0.63	MSF	Microsoft	Pair Corr
0.63	MSF	Microsoft	Pair Corr
0.65	E908	Lyxor 1	Pair Corr
0.75	DBPE	Xtrackers LevDAX	Pair Corr

Moving against THORNEY Stock

0.84	TG4	Oxurion NV	Pair Corr
0.75	DBPD	Xtrackers ShortDAX	Pair Corr
0.47	BUU	DevEx Resources	Pair Corr

Related Correlations Analysis

	PCHP	H4L1	CBR	3FNA	MZ8A	NB9	CBR	I43
PCHP		-0.54	0.45	-0.84	-0.39	-0.45	0.47	-0.65	PCHP
H4L1	-0.54		0.07	0.66	0.81	0.85	0.07	0.35	H4L1
CBR	0.45	0.07		-0.42	0.32	0.27	1.0	-0.39	CBR
3FNA	-0.84	0.66	-0.42		0.54	0.56	-0.43	0.71	3FNA
MZ8A	-0.39	0.81	0.32	0.54		0.87	0.31	0.2	MZ8A
NB9	-0.45	0.85	0.27	0.56	0.87		0.26	0.25	NB9
CBR	0.47	0.07	1.0	-0.43	0.31	0.26		-0.4	CBR
I43	-0.65	0.35	-0.39	0.71	0.2	0.25	-0.4		I43
	PCHP	H4L1	CBR	3FNA	MZ8A	NB9	CBR	I43

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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

CBR	+ 1.0	CBR
NB9	+ 0.87	MZ8A
NB9	+ 0.85	H4L1
MZ8A	+ 0.81	H4L1
I43	+ 0.71	3FNA
3FNA	+ 0.66	H4L1

High negative correlations

3FNA	- 0.84	PCHP
I43	- 0.65	PCHP
H4L1	- 0.54	PCHP
NB9	- 0.45	PCHP
CBR	- 0.43	3FNA
3FNA	- 0.42	CBR

Risk-Adjusted Indicators

There is a big difference between THORNEY Stock performing well and THORNEY TECHS 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 THORNEY TECHS'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
PCHP	2.95	(0.06)	(0.04)	0.01	2.96	(3.91)	7.86	(4.97)	17.91
H4L1	3.23	0.23	0.04	0.56	3.45	(3.85)	7.14	(5.88)	15.64
CBR	1.52	(0.07)	0.00	(0.05)	0.00	0.00	3.38	(3.31)	9.35
3FNA	3.14	0.55	0.10	(10.07)	3.78	(3.60)	7.61	(7.56)	27.81
MZ8A	1.45	0.30	0.12	0.86	1.32	(2.00)	3.89	(2.75)	8.12
NB9	1.73	0.26	0.09	0.66	1.60	(2.37)	4.02	(2.99)	16.85
CBR	1.53	(0.07)	0.00	(0.05)	0.00	0.00	3.45	(3.47)	9.35
I43	1.07	0.00	(0.07)	(0.10)	1.57	(1.15)	2.53	(2.95)	7.95

Be your own money manager

Our tools can tell you how much better you can do entering a position in THORNEY TECHS 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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