Sharp Corp Correlations

SHCAY Stock

USD 1.05 0.01 0.94%

The current 90-days correlation between Sharp Corp ADR and Sharp is 0.06 (i.e., Significant diversification). The correlation of Sharp Corp 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.

Sharp Corp Correlation With Market

Significant diversification

The correlation between Sharp Corp ADR and DJI is 0.08 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Sharp Corp ADR and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Sharp Pink Sheet

0.91	BRK-A	Berkshire Hathaway	Pair Corr
0.92	APDN	Applied DNA Sciences	Pair Corr

Moving against Sharp Pink Sheet

0.9	MCHB	Mechanics Bank	Pair Corr
0.9	CAT	Caterpillar	Pair Corr
0.89	GE	GE Aerospace	Pair Corr
0.88	IBM	International Business Earnings Call Today	Pair Corr
0.87	MSFT	Microsoft Earnings Call This Week	Pair Corr
0.87	JPM	JPMorgan Chase	Pair Corr
0.85	BAC	Bank of America Aggressive Push	Pair Corr
0.85	CVX	Chevron Corp	Pair Corr
0.84	DIS	Walt Disney	Pair Corr
0.82	AA	Alcoa Corp	Pair Corr
0.82	PFE	Pfizer Inc	Pair Corr
0.81	BA	Boeing Earnings Call This Week	Pair Corr
0.74	DD	Dupont De Nemours Earnings Call This Week	Pair Corr
0.67	UAVS	Ageagle Aerial Systems Buyout Trend	Pair Corr
0.62	INTC	Intel Earnings Call Tomorrow	Pair Corr
0.58	XOM	Exxon Mobil Corp	Pair Corr
0.42	JNJ	Johnson Johnson	Pair Corr
0.37	VLCN	Volcon Inc Trending	Pair Corr
0.36	COCXF	Chocoladefabriken Lindt	Pair Corr

Related Correlations Analysis

	SHCAF	TCLHF	CSIOY	XIACF	SSNLF	FJTSY	TOSBF	SEKEY	MIELY
SHCAF		-0.46	0.01	-0.71	0.0	-0.43	0.0	0.79	-0.83	SHCAF
TCLHF	-0.46		-0.17	0.44	0.0	0.34	0.0	-0.32	0.51	TCLHF
CSIOY	0.01	-0.17		0.06	0.0	-0.43	0.0	0.05	-0.1	CSIOY
XIACF	-0.71	0.44	0.06		0.0	0.5	0.0	-0.46	0.89	XIACF
SSNLF	0.0	0.0	0.0	0.0		0.0	0.0	0.0	0.0	SSNLF
FJTSY	-0.43	0.34	-0.43	0.5	0.0		0.0	-0.21	0.63	FJTSY
TOSBF	0.0	0.0	0.0	0.0	0.0	0.0		0.0	0.0	TOSBF
SEKEY	0.79	-0.32	0.05	-0.46	0.0	-0.21	0.0		-0.58	SEKEY
MIELY	-0.83	0.51	-0.1	0.89	0.0	0.63	0.0	-0.58		MIELY
	SHCAF	TCLHF	CSIOY	XIACF	SSNLF	FJTSY	TOSBF	SEKEY	MIELY

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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

MIELY	+ 0.89	XIACF
SEKEY	+ 0.79	SHCAF
MIELY	+ 0.63	FJTSY
MIELY	+ 0.51	TCLHF
FJTSY	+ 0.5	XIACF
XIACF	+ 0.44	TCLHF

High negative correlations

MIELY	- 0.83	SHCAF
XIACF	- 0.71	SHCAF
MIELY	- 0.58	SEKEY
SEKEY	- 0.46	XIACF
TCLHF	- 0.46	SHCAF
FJTSY	- 0.43	CSIOY

Risk-Adjusted Indicators

There is a big difference between Sharp Pink Sheet performing well and Sharp Corp 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 Sharp Corp'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
SHCAF	0.62	(0.36)	0.00	(1.75)	0.00	0.00	0.00	0.00	15.79
TCLHF	13.67	2.49	0.12	2.17	13.25	(25.06)	35.79	(29.17)	74.76
CSIOY	1.72	0.10	(0.04)	(0.23)	2.37	(1.79)	3.83	(4.14)	9.43
XIACF	2.02	0.36	0.22	0.47	1.42	(2.55)	4.80	(2.53)	13.53
SSNLF	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
FJTSY	1.39	0.05	(0.03)	0.29	1.58	(1.51)	3.26	(2.80)	9.27
TOSBF	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
SEKEY	1.27	(0.15)	0.00	(0.06)	0.00	0.00	2.64	(3.65)	10.65
MIELY	1.39	0.22	0.09	0.49	1.63	(1.53)	3.41	(1.89)	10.88

Be your own money manager

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

HsinShu Chen	Sr Group	Profile
Yasufumi Sugahara	Ex BU	Profile
PoHsuan Wu	Pres Director	Profile
Michael Kelly	VP America	Profile
Yoshio Kosaka	Exec Group	Profile
James Sanduski	Pres America	Profile

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