Electro Sensors Correlations

ELSE Stock

USD 3.85 0.06 1.53%

The current 90-days correlation between Electro Sensors and Nanalysis Scientific Corp is 0.05 (i.e., Significant diversification). The correlation of Electro Sensors 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.

Electro Sensors Correlation With Market

Significant diversification

The correlation between Electro Sensors and DJI is 0.06 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Electro Sensors and DJI in the same portfolio, assuming nothing else is changed.

Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in Electro Sensors. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in state.

For information on how to trade Electro Stock refer to our How to Trade Electro Stock guide.

Moving against Electro Stock

0.52	AATC	Autoscope Technologies	Pair Corr
0.36	BKSY	Blacksky Technology	Pair Corr

Related Correlations Analysis

	NSCIF	GNSS	KRKNF	MIND	SEPJF	MLAB	ESE
NSCIF		-0.17	-0.18	-0.14	0.27	-0.41	-0.32	NSCIF
GNSS	-0.17		0.89	-0.73	-0.76	0.56	0.65	GNSS
KRKNF	-0.18	0.89		-0.75	-0.64	0.74	0.56	KRKNF
MIND	-0.14	-0.73	-0.75		0.43	-0.51	-0.19	MIND
SEPJF	0.27	-0.76	-0.64	0.43		-0.45	-0.45	SEPJF
MLAB	-0.41	0.56	0.74	-0.51	-0.45		0.42	MLAB
ESE	-0.32	0.65	0.56	-0.19	-0.45	0.42		ESE
	NSCIF	GNSS	KRKNF	MIND	SEPJF	MLAB	ESE

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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

KRKNF	+ 0.89	GNSS
MLAB	+ 0.74	KRKNF
ESE	+ 0.65	GNSS
MLAB	+ 0.56	GNSS
ESE	+ 0.56	KRKNF
SEPJF	+ 0.43	MIND

High negative correlations

SEPJF	- 0.76	GNSS
MIND	- 0.75	KRKNF
MIND	- 0.73	GNSS
SEPJF	- 0.64	KRKNF
MLAB	- 0.51	MIND
ESE	- 0.45	SEPJF

Risk-Adjusted Indicators

There is a big difference between Electro Stock performing well and Electro Sensors 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 Electro Sensors' 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
NSCIF	2.48	(0.19)	0.00	(2.23)	0.00	0.00	6.90	(6.67)	27.73
GNSS	2.05	0.67	0.24	(3.18)	1.73	(2.55)	6.31	(3.53)	14.00
KRKNF	2.56	0.48	0.14	0.69	2.58	(3.29)	7.69	(5.60)	16.70
MIND	2.53	(0.41)	0.00	(0.57)	0.00	0.00	4.93	(4.85)	13.68
SEPJF	1.71	(0.31)	0.00	(0.22)	0.00	0.00	4.76	(5.10)	16.31
MLAB	2.46	0.14	0.09	0.15	2.72	(2.67)	5.38	(4.91)	14.79
ESE	1.21	(0.01)	0.02	0.08	1.53	(1.30)	2.86	(2.40)	7.94

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