Nidec Correlations

NNDNF Stock

USD 14.88 0.22 1.50%

The correlation of Nidec 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.

Nidec Correlation With Market

Very weak diversification

The correlation between Nidec and DJI is 0.49 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Nidec and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Nidec Pink Sheet

0.61	GE	GE Aerospace	Pair Corr
0.77	SBGSY	Schneider Electric	Pair Corr
0.77	SBGSF	Schneider Electric	Pair Corr
0.65	PH	Parker Hannifin	Pair Corr
0.87	ITW	Illinois Tool Works Earnings Call This Week	Pair Corr
0.61	ATLPF	Atlas Copco AB Earnings Call This Week	Pair Corr
0.83	HNHPF	Hon Hai Precision	Pair Corr
0.76	CSCO	Cisco Systems	Pair Corr
0.77	HPQ	HP Inc Sell-off Trend	Pair Corr
0.77	MMM	3M Company Earnings Call This Week	Pair Corr
0.81	AA	Alcoa Corp Sell-off Trend	Pair Corr
0.79	CVX	Chevron Corp Earnings Call This Week	Pair Corr
0.89	DD	Dupont De Nemours Earnings Call This Week	Pair Corr
0.7	CAT	Caterpillar Earnings Call Tomorrow	Pair Corr
0.85	PFE	Pfizer Inc Earnings Call This Week	Pair Corr

Moving against Nidec Pink Sheet

0.31

HTZ

Hertz Global Holdings Earnings Call Tomorrow

Pair Corr

Related Correlations Analysis

	YOKEF	DFKCY	NJDCY	SIEGY	ETN	YOKEY	BBRW	VWSYF	SMNEY	NRDXF
YOKEF		0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	YOKEF
DFKCY	0.0		0.0	0.0	-0.6	-0.55	0.0	0.39	0.43	0.57	DFKCY
NJDCY	0.0	0.0		0.0	0.0	0.0	0.0	0.0	0.0	0.0	NJDCY
SIEGY	0.0	0.0	0.0		0.0	0.0	0.0	0.0	0.0	0.0	SIEGY
ETN	0.0	-0.6	0.0	0.0		0.63	0.0	-0.1	-0.22	-0.51	ETN
YOKEY	0.0	-0.55	0.0	0.0	0.63		0.0	-0.28	-0.02	-0.25	YOKEY
BBRW	0.0	0.0	0.0	0.0	0.0	0.0		0.0	0.0	0.0	BBRW
VWSYF	0.0	0.39	0.0	0.0	-0.1	-0.28	0.0		0.37	0.6	VWSYF
SMNEY	0.0	0.43	0.0	0.0	-0.22	-0.02	0.0	0.37		0.4	SMNEY
NRDXF	0.0	0.57	0.0	0.0	-0.51	-0.25	0.0	0.6	0.4		NRDXF
	YOKEF	DFKCY	NJDCY	SIEGY	ETN	YOKEY	BBRW	VWSYF	SMNEY	NRDXF

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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

YOKEY	+ 0.63	ETN
NRDXF	+ 0.6	VWSYF
NRDXF	+ 0.57	DFKCY
SMNEY	+ 0.43	DFKCY
NRDXF	+ 0.4	SMNEY
VWSYF	+ 0.39	DFKCY

High negative correlations

ETN	- 0.6	DFKCY
YOKEY	- 0.55	DFKCY
NRDXF	- 0.51	ETN
VWSYF	- 0.28	YOKEY
NRDXF	- 0.25	YOKEY
SMNEY	- 0.22	ETN

Risk-Adjusted Indicators

There is a big difference between Nidec Pink Sheet performing well and Nidec 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 Nidec'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
YOKEF	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
DFKCY	2.03	0.50	0.19	0.32	2.32	(2.29)	4.11	(4.74)	17.00
NJDCY	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
SIEGY	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
ETN	2.26	(0.32)	0.00	3.30	0.00	0.00	3.45	(5.07)	19.37
YOKEY	1.76	0.11	0.05	0.08	2.38	(3.67)	6.06	(4.32)	17.89
BBRW	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
VWSYF	3.00	0.08	0.08	(0.69)	3.83	(3.12)	6.08	(4.90)	21.55
SMNEY	3.58	0.83	0.14	0.31	4.38	(3.69)	7.03	(5.27)	21.43
NRDXF	1.58	0.35	0.00	3.14	0.00	0.00	6.74	(1.71)	40.28

Be your own money manager

Our tools can tell you how much better you can do entering a position in Nidec 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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Nidec Corporate Management

Maki Okajima	CIO, Executive Officer	Profile
Masahiro Nagayasu	Gen Department	Profile
Toru Takahashi	VP Officer	Profile
Koseki Toshihiko	CTO VP	Profile
Fumiaki Ushio	VP Officer	Profile

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