Scott Technology Correlations

SCTTF Stock

USD 1.14 0.00 0.00%

The correlation of Scott 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.

Scott Technology Correlation With Market

Good diversification

The correlation between Scott Technology Limited and DJI is -0.11 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Scott Technology Limited and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to Scott 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 Scott 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 Scott 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 Scott Technology Limited to buy it.

Moving together with Scott Pink Sheet

0.78	PH	Parker Hannifin Earnings Call This Week	Pair Corr
0.73	CMI	Cummins	Pair Corr
0.67	VLKAF	Volkswagen AG	Pair Corr
0.69	VWAGY	Volkswagen AG 110	Pair Corr
0.63	VLKPF	Volkswagen AG VZO	Pair Corr
0.64	PITAF	Poste Italiane SpA	Pair Corr
0.78	DVNHF	Frontier Services	Pair Corr

Moving against Scott Pink Sheet

0.86	JD	JD Inc Adr	Pair Corr
0.74	SBGSY	Schneider Electric	Pair Corr
0.69	ETN	Eaton PLC	Pair Corr
0.64	SBGSF	Schneider Electric	Pair Corr
0.56	HNHPF	Hon Hai Precision	Pair Corr
0.37	CNNA	Cann American Corp	Pair Corr
0.35	TRRGF	Transatlantic Mining Corp	Pair Corr

Related Correlations Analysis

	SKUYF	BYYLF	AUSTF	AMROF	CRAWA	ADFJF	ICTSF	AUUMF	CHMX	DIGTF
SKUYF		0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	SKUYF
BYYLF	0.0		0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	BYYLF
AUSTF	0.0	0.0		0.41	-0.73	0.08	0.4	0.35	0.6	0.23	AUSTF
AMROF	0.0	0.0	0.41		-0.26	0.15	0.0	-0.2	0.19	0.03	AMROF
CRAWA	0.0	0.0	-0.73	-0.26		-0.08	-0.4	-0.52	-0.67	-0.2	CRAWA
ADFJF	0.0	0.0	0.08	0.15	-0.08		-0.77	0.43	-0.46	-0.75	ADFJF
ICTSF	0.0	0.0	0.4	0.0	-0.4	-0.77		-0.05	0.84	0.77	ICTSF
AUUMF	0.0	0.0	0.35	-0.2	-0.52	0.43	-0.05		0.13	-0.28	AUUMF
CHMX	0.0	0.0	0.6	0.19	-0.67	-0.46	0.84	0.13		0.64	CHMX
DIGTF	0.0	0.0	0.23	0.03	-0.2	-0.75	0.77	-0.28	0.64		DIGTF
	SKUYF	BYYLF	AUSTF	AMROF	CRAWA	ADFJF	ICTSF	AUUMF	CHMX	DIGTF

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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

CHMX	+ 0.84	ICTSF
DIGTF	+ 0.77	ICTSF
DIGTF	+ 0.64	CHMX
CHMX	+ 0.6	AUSTF
AUUMF	+ 0.43	ADFJF
AMROF	+ 0.41	AUSTF

High negative correlations

ICTSF	- 0.77	ADFJF
DIGTF	- 0.75	ADFJF
CRAWA	- 0.73	AUSTF
CHMX	- 0.67	CRAWA
AUUMF	- 0.52	CRAWA
CHMX	- 0.46	ADFJF

Risk-Adjusted Indicators

There is a big difference between Scott Pink Sheet performing well and Scott Technology 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 Scott 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
SKUYF	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
BYYLF	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
AUSTF	2.32	0.16	0.00	0.93	0.00	0.00	5.88	0.00	53.33
AMROF	6.66	0.60	0.07	0.39	6.77	(11.26)	18.75	(11.76)	63.81
CRAWA	1.18	0.15	0.02	(0.60)	1.56	(2.06)	4.88	(2.33)	14.71
ADFJF	1.94	0.11	0.04	0.19	2.07	(2.88)	4.37	(3.98)	18.32
ICTSF	1.30	(0.29)	0.00	3.39	0.00	0.00	2.56	(6.75)	13.26
AUUMF	0.47	(0.09)	0.00	(0.21)	0.00	0.00	0.00	(1.73)	14.66
CHMX	2.98	(1.51)	0.00	9.45	0.00	0.00	0.00	0.00	99.79
DIGTF	1.73	(0.78)	0.00	0.92	0.00	0.00	0.00	0.00	58.12

Be your own money manager

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

Cameron Mathewson	Chief Officer	Profile
John Kippenberger	CEO Director	Profile
Casey Jenkins	Director People	Profile
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