SCANSOURCE Correlations

SC3 Stock

33.60 1.20 3.45%

The current 90-days correlation between SCANSOURCE and Apple Inc is 0.21 (i.e., Modest diversification). The correlation of SCANSOURCE 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.

SCANSOURCE Correlation With Market

Weak diversification

The correlation between SCANSOURCE and DJI is 0.3 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding SCANSOURCE and DJI in the same portfolio, assuming nothing else is changed.

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

Moving against SCANSOURCE Stock

0.64	SID	State Bank	Pair Corr
0.48	APC	Apple Inc	Pair Corr
0.47	LLD2	Lloyds Banking Group	Pair Corr
0.47	SUMB	SUMITOMO P SP	Pair Corr
0.46	APC	Apple Inc	Pair Corr
0.46	APC	Apple Inc	Pair Corr
0.46	APC	Apple Inc	Pair Corr
0.46	W8V	Bank of China	Pair Corr
0.37	KBIA	KB Financial Group	Pair Corr
0.32	OIXA	Orix Corp Ads	Pair Corr
0.7	IBE5	IBERDROLA ADR1 EO	Pair Corr
0.69	ZEGA	AstraZeneca PLC	Pair Corr
0.66	SDA	SEALED AIR	Pair Corr
0.53	HY9H	SK hynix	Pair Corr
0.53	4H7	TROPHY GAMES DEV	Pair Corr
0.48	PGZ	Healius Limited	Pair Corr
0.39	NRI	NORTHRIM BA DL	Pair Corr
0.39	AMV0	AUMOVIO N	Pair Corr
0.37	DWD	Morgan Stanley	Pair Corr
0.73	AMG	Amgen Inc	Pair Corr
0.65	8RR	ROCKHAVEN RESOURCES	Pair Corr
0.61	AK3	Akamai Technologies	Pair Corr
0.58	WSU	WashTec AG	Pair Corr

Related Correlations Analysis

	APC	APC	APC	APC	MSF	MSF	MSF	MSF	MSF	AMZ
APC		0.98	0.98	0.98	-0.5	-0.49	-0.54	-0.48	-0.5	0.6	APC
APC	0.98		1.0	0.99	-0.46	-0.45	-0.5	-0.44	-0.47	0.63	APC
APC	0.98	1.0		0.99	-0.45	-0.45	-0.49	-0.44	-0.46	0.63	APC
APC	0.98	0.99	0.99		-0.48	-0.47	-0.52	-0.46	-0.49	0.61	APC
MSF	-0.5	-0.46	-0.45	-0.48		0.99	0.98	0.96	0.99	0.11	MSF
MSF	-0.49	-0.45	-0.45	-0.47	0.99		0.97	0.97	1.0	0.11	MSF
MSF	-0.54	-0.5	-0.49	-0.52	0.98	0.97		0.96	0.98	0.09	MSF
MSF	-0.48	-0.44	-0.44	-0.46	0.96	0.97	0.96		0.98	0.12	MSF
MSF	-0.5	-0.47	-0.46	-0.49	0.99	1.0	0.98	0.98		0.09	MSF
AMZ	0.6	0.63	0.63	0.61	0.11	0.11	0.09	0.12	0.09		AMZ
	APC	APC	APC	APC	MSF	MSF	MSF	MSF	MSF	AMZ

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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

APC	+ 1.0	APC
MSF	+ 1.0	MSF
APC	+ 0.99	APC
APC	+ 0.99	APC
MSF	+ 0.99	MSF
MSF	+ 0.99	MSF

High negative correlations

MSF	- 0.54	APC
MSF	- 0.52	APC
MSF	- 0.5	APC
MSF	- 0.5	APC
MSF	- 0.5	APC
MSF	- 0.49	APC

Risk-Adjusted Indicators

There is a big difference between SCANSOURCE Stock performing well and SCANSOURCE 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 SCANSOURCE'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
APC	1.00	0.03	0.02	0.10	0.95	(1.28)	2.08	(1.72)	9.68
APC	1.07	0.05	0.03	0.13	1.22	(1.19)	1.86	(2.29)	9.13
APC	1.06	0.04	0.03	0.12	1.34	(1.14)	2.36	(2.06)	9.59
APC	1.06	0.02	0.02	0.10	1.25	(1.22)	1.80	(2.40)	9.21
MSF	0.89	(0.10)	0.00	(0.14)	0.00	0.00	1.97	(2.29)	5.77
MSF	0.85	(0.09)	0.00	(0.19)	0.00	0.00	1.94	(2.54)	5.57
MSF	1.04	(0.07)	0.00	(0.28)	0.00	0.00	2.26	(2.91)	6.23
MSF	0.98	(0.09)	0.00	(0.21)	0.00	0.00	1.66	(3.32)	6.86
MSF	0.81	(0.09)	0.00	(0.22)	0.00	0.00	1.93	(2.41)	5.00
AMZ	1.34	0.01	0.01	0.08	1.53	(1.43)	2.94	(2.44)	11.57

Be your own money manager

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