Made Tech Correlations

MTEC Stock

29.50 0.25 0.85%

The current 90-days correlation between Made Tech Group and Samsung Electronics Co is -0.01 (i.e., Good diversification). The correlation of Made Tech 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.

Made Tech Correlation With Market

Significant diversification

The correlation between Made Tech Group 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 Made Tech Group and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Made Stock

0.72	0HWH	Cheniere Energy	Pair Corr
0.71	0I6K	DR Horton	Pair Corr
0.83	0HBH	Air Products Chemicals	Pair Corr

Moving against Made Stock

0.86	0R15	SoftBank Group Corp	Pair Corr
0.85	ATR	Schroders Investment	Pair Corr
0.83	TEK	Tekcapital plc	Pair Corr
0.8	0XVE	BE Semiconductor Ind	Pair Corr
0.79	TYT	Toyota Motor Corp	Pair Corr
0.79	AEO	Aeorema Communications	Pair Corr
0.78	BRWM	Blackrock World Mining	Pair Corr
0.78	FCIT	FC Investment Trust	Pair Corr
0.77	HLMA	Halma PLC Earnings Call This Week	Pair Corr
0.76	EMH	European Metals Holdings	Pair Corr
0.73	AEP	Anglo Eastern Planta	Pair Corr
0.72	0P4F	Ford Motor	Pair Corr
0.68	0QM2	Berner Kantonalbank	Pair Corr
0.67	0L7G	Snap On	Pair Corr
0.64	0R1E	Nintendo	Pair Corr
0.59	0QP1	Chocoladefabriken Lindt	Pair Corr
0.56	0QYH	3D Systems Corp	Pair Corr
0.56	PEYS	Princess Private Equity Earnings Call This Week	Pair Corr
0.38	0Y9S	Check Point Software	Pair Corr
0.36	0J8P	IDEXX Laboratories	Pair Corr

Related Correlations Analysis

	SMSN	BC94	SMSD	TYT	RIGD	GTCO	GTCO	0RUK	0M69
SMSN		1.0	1.0	0.82	0.62	-0.37	-0.18	0.0	0.25	SMSN
BC94	1.0		1.0	0.81	0.62	-0.37	-0.19	0.0	0.25	BC94
SMSD	1.0	1.0		0.83	0.66	-0.36	-0.17	0.0	0.23	SMSD
TYT	0.82	0.81	0.83		0.76	-0.39	-0.05	0.0	0.27	TYT
RIGD	0.62	0.62	0.66	0.76		-0.41	0.0	0.0	0.24	RIGD
GTCO	-0.37	-0.37	-0.36	-0.39	-0.41		-0.08	0.0	-0.22	GTCO
GTCO	-0.18	-0.19	-0.17	-0.05	0.0	-0.08		0.0	-0.01	GTCO
0RUK	0.0	0.0	0.0	0.0	0.0	0.0	0.0		0.0	0RUK
0M69	0.25	0.25	0.23	0.27	0.24	-0.22	-0.01	0.0		0M69
	SMSN	BC94	SMSD	TYT	RIGD	GTCO	GTCO	0RUK	0M69

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

BC94	+ 1.0	SMSN
SMSD	+ 1.0	SMSN
SMSD	+ 1.0	BC94
TYT	+ 0.83	SMSD
TYT	+ 0.82	SMSN
TYT	+ 0.81	BC94

High negative correlations

GTCO	- 0.41	RIGD
GTCO	- 0.39	TYT
GTCO	- 0.37	BC94
GTCO	- 0.37	SMSN
GTCO	- 0.36	SMSD
0M69	- 0.22	GTCO

Risk-Adjusted Indicators

There is a big difference between Made Stock performing well and Made Tech 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 Made Tech'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
SMSN	1.90	0.34	0.16	0.33	2.01	(2.34)	4.48	(3.03)	11.94
BC94	1.79	0.35	0.17	0.41	1.80	(2.15)	4.54	(2.94)	12.37
SMSD	1.58	0.30	0.13	0.49	1.84	(1.90)	3.51	(3.52)	10.35
TYT	1.12	0.23	0.06	(1.42)	1.40	(1.49)	3.26	(3.46)	10.12
RIGD	0.85	0.11	0.03	0.88	1.20	(0.95)	1.89	(1.41)	8.26
GTCO	2.94	(0.20)	0.00	(0.21)	0.00	0.00	8.57	(8.55)	27.99
GTCO	121.77	56.74	2.09	2.52	17.13	(143.62)	9.45	(12.50)	4,185
0RUK	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
0M69	16.69	4.72	0.10	1.11	14.82	(114.46)	130.42	(56.60)	202.56

Be your own money manager

Our tools can tell you how much better you can do entering a position in Made Tech 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 Performance Analysis Now

Performance Analysis

Check effects of mean-variance optimization against your current asset allocation

All Next

Launch Module

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2025 Macroaxis LLC