Wetouch Technology Correlations

WETH Stock

USD 1.69 0.02 1.17%

The current 90-days correlation between Wetouch Technology Common and New York City is 0.18 (i.e., Average diversification). The correlation of Wetouch Technology 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.

Wetouch Technology Correlation With Market

Excellent diversification

The correlation between Wetouch Technology Common and DJI is -0.55 (i.e., Excellent diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Wetouch Technology Common and DJI in the same portfolio, assuming nothing else is changed.

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

Moving against Wetouch OTC Stock

0.64	PPERY	Bank Mandiri Persero	Pair Corr
0.53	VTAGY	Vantage Towers AG	Pair Corr
0.48	CLLNY	Cellnex Telecom SA	Pair Corr
0.47	TLKMF	Telkom Indonesia Tbk	Pair Corr
0.46	CBRE	CBRE Group Class Earnings Call This Week	Pair Corr
0.43	CLNXF	Cellnex Telecom SA	Pair Corr
0.8	AVHNY	Ackermans Van Haaren	Pair Corr
0.74	CMG	Chipotle Mexican Grill	Pair Corr
0.67	GS	Goldman Sachs Group	Pair Corr
0.63	BCEPF	BCE Inc	Pair Corr
0.61	SKYX	SKYX Platforms Corp	Pair Corr
0.55	NWTG	Newton Golf Symbol Change	Pair Corr
0.47	EMMA	Emmaus Life Sciences	Pair Corr
0.41	PTAIY	Astra International Tbk	Pair Corr
0.41	LINE	Lineage Common Stock	Pair Corr
0.76	ZDZT	Zhengduozhe Technology	Pair Corr
0.5	HNI	HNI Corp Earnings Call This Week	Pair Corr
0.49	THXPF	Thor Explorations	Pair Corr
0.46	GROY	Gold Royalty Corp	Pair Corr
0.46	ABOS	Acumen Pharmaceuticals	Pair Corr
0.42	OLN	Olin	Pair Corr

Related Correlations Analysis

	AIRE	LGPS	OMH	GYRO	NYC	AHT	DUO	LRE	FTHM	ALBT
AIRE		0.84	-0.42	0.67	-0.49	0.05	0.88	0.17	0.49	0.79	AIRE
LGPS	0.84		-0.6	0.76	-0.61	-0.01	0.84	0.11	0.31	0.81	LGPS
OMH	-0.42	-0.6		-0.66	0.74	0.3	-0.46	0.15	0.36	-0.45	OMH
GYRO	0.67	0.76	-0.66		-0.71	-0.19	0.71	-0.15	0.09	0.68	GYRO
NYC	-0.49	-0.61	0.74	-0.71		0.38	-0.58	0.3	0.18	-0.63	NYC
AHT	0.05	-0.01	0.3	-0.19	0.38		0.03	0.63	0.23	0.1	AHT
DUO	0.88	0.84	-0.46	0.71	-0.58	0.03		-0.01	0.37	0.81	DUO
LRE	0.17	0.11	0.15	-0.15	0.3	0.63	-0.01		0.29	0.04	LRE
FTHM	0.49	0.31	0.36	0.09	0.18	0.23	0.37	0.29		0.23	FTHM
ALBT	0.79	0.81	-0.45	0.68	-0.63	0.1	0.81	0.04	0.23		ALBT
	AIRE	LGPS	OMH	GYRO	NYC	AHT	DUO	LRE	FTHM	ALBT

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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

DUO	+ 0.88	AIRE
LGPS	+ 0.84	AIRE
DUO	+ 0.84	LGPS
ALBT	+ 0.81	LGPS
ALBT	+ 0.81	DUO
ALBT	+ 0.79	AIRE

High negative correlations

NYC	- 0.71	GYRO
GYRO	- 0.66	OMH
ALBT	- 0.63	NYC
NYC	- 0.61	LGPS
OMH	- 0.6	LGPS
DUO	- 0.58	NYC

Risk-Adjusted Indicators

There is a big difference between Wetouch OTC Stock performing well and Wetouch Technology OTC Stock 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 Wetouch Technology'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
AIRE	4.95	(0.78)	0.00	(0.15)	0.00	0.00	10.87	(10.64)	31.67
LGPS	2.65	(0.60)	0.00	1.54	0.00	0.00	5.75	(5.83)	26.89
OMH	5.54	0.40	0.06	0.18	7.67	(6.50)	12.87	(11.88)	49.81
GYRO	0.91	(0.10)	0.00	0.46	0.00	0.00	3.46	(2.89)	10.25
NYC	3.26	0.20	0.02	(0.29)	4.30	(3.34)	5.61	(6.65)	21.83
AHT	4.27	(0.32)	0.00	(0.07)	0.00	0.00	8.06	(8.79)	53.36
DUO	4.54	(0.87)	0.00	(0.24)	0.00	0.00	8.47	(9.61)	35.96
LRE	3.84	0.09	0.01	0.95	4.81	(4.98)	8.45	(6.71)	55.69
FTHM	4.59	(0.33)	0.00	(0.07)	0.00	0.00	11.58	(8.91)	32.95
ALBT	5.69	(0.97)	0.00	(0.93)	0.00	0.00	12.96	(14.12)	48.54

Be your own money manager

Our tools can tell you how much better you can do entering a position in Wetouch Technology 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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