YASKAWA ELEC Correlations

YEC0 Stock

EUR 44.20 1.80 3.91%

The current 90-days correlation between YASKAWA ELEC UNSP and Sumitomo Rubber Industries is -0.22 (i.e., Very good diversification). The correlation of YASKAWA ELEC 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.

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

Moving together with YASKAWA Stock

0.78	NVAW	Delta Electronics Public	Pair Corr
0.81	1ZB	Bloom Energy	Pair Corr
0.91	74F	LIFE BANC SPLIT	Pair Corr
0.73	HHP2	Hon Hai Precision Earnings Call Today	Pair Corr
0.81	ERT	ELECTRONIC ARTS	Pair Corr
0.85	FP3	NextEra Energy	Pair Corr
0.8	AIR	Airbus SE	Pair Corr
0.67	UCE	Ultra Clean Holdings	Pair Corr
0.75	OUTA	OUTOKUMPU	Pair Corr
0.79	AEU	PRYSMIAN	Pair Corr
0.65	TYIA	Johnson Controls Int	Pair Corr
0.61	SMA	SmarTone Telecommunicatio	Pair Corr
0.9	PEO	EXELON	Pair Corr
0.68	TL0	Tesla Inc	Pair Corr
0.76	LGX1	China Resources Gas	Pair Corr
0.81	IXD1	Industria de Diseno	Pair Corr
0.76	GLW	Corning Incorporated	Pair Corr

Moving against YASKAWA Stock

0.82	SG9	Strix Group Plc	Pair Corr
0.74	XTP	Sino AG	Pair Corr
0.35	0KJ	ABERFORTH SMCOS TRLS	Pair Corr
0.45	LNLB	Li Ning Company	Pair Corr
0.4	SDP	Summit Hotel Properties	Pair Corr
0.39	M3C	MBISHI CHEM HLDGS	Pair Corr
0.34	ORW	ONESPAWORLD HLDGS	Pair Corr

Related Correlations Analysis

	LC0A	ZCG	EZM	108	E6U	TP3	OD7B	VMC
LC0A		-0.32	0.47	0.12	0.2	-0.24	0.37	0.6	LC0A
ZCG	-0.32		-0.12	-0.35	-0.7	0.13	-0.2	-0.38	ZCG
EZM	0.47	-0.12		0.05	-0.14	-0.35	0.54	0.15	EZM
108	0.12	-0.35	0.05		0.28	-0.45	0.53	0.0	108
E6U	0.2	-0.7	-0.14	0.28		0.11	-0.02	0.29	E6U
TP3	-0.24	0.13	-0.35	-0.45	0.11		-0.63	-0.14	TP3
OD7B	0.37	-0.2	0.54	0.53	-0.02	-0.63		0.16	OD7B
VMC	0.6	-0.38	0.15	0.0	0.29	-0.14	0.16		VMC
	LC0A	ZCG	EZM	108	E6U	TP3	OD7B	VMC

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

VMC	+ 0.6	LC0A
OD7B	+ 0.54	EZM
OD7B	+ 0.53	108
EZM	+ 0.47	LC0A
OD7B	+ 0.37	LC0A
VMC	+ 0.29	E6U

High negative correlations

E6U	- 0.7	ZCG
OD7B	- 0.63	TP3
TP3	- 0.45	108
VMC	- 0.38	ZCG
TP3	- 0.35	EZM
108	- 0.35	ZCG

Risk-Adjusted Indicators

There is a big difference between YASKAWA Stock performing well and YASKAWA ELEC 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 YASKAWA ELEC'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
LC0A	1.59	0.03	(0.04)	(1.00)	2.03	(2.13)	3.61	(3.68)	12.45
ZCG	1.89	0.23	0.01	(0.27)	2.30	(2.39)	3.85	(4.69)	22.90
EZM	1.43	0.10	0.02	0.34	1.66	(1.69)	3.39	(2.53)	11.83
108	0.94	0.06	(0.03)	1.31	1.11	(1.43)	2.02	(2.51)	5.91
E6U	2.21	(0.26)	0.00	(0.03)	0.00	0.00	5.41	(5.11)	23.31
TP3	0.69	(0.14)	0.00	(0.17)	0.00	0.00	1.28	(1.65)	6.15
OD7B	2.50	0.52	0.14	9.53	2.67	(2.75)	6.61	(3.81)	15.13
VMC	0.94	0.02	(0.06)	(0.77)	1.13	(1.31)	1.79	(2.34)	5.50

Be your own money manager

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