MOBILE FACTORY Correlations

2MF Stock

EUR 5.15 0.05 0.96%

The current 90-days correlation between MOBILE FACTORY INC and Tower Semiconductor is -0.09 (i.e., Good diversification). The correlation of MOBILE FACTORY 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.

MOBILE FACTORY Correlation With Market

Good diversification

The correlation between MOBILE FACTORY INC and DJI is -0.17 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding MOBILE FACTORY INC and DJI in the same portfolio, assuming nothing else is changed.

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

Moving against MOBILE Stock

0.67	71BA	Bilibili	Pair Corr
0.49	7NX	NEXON Co	Pair Corr
0.49	7NX	NEXON	Pair Corr
0.43	NTOA	Nintendo	Pair Corr
0.41	NTO	Nintendo	Pair Corr
0.36	AC8	Aristocrat Leisure	Pair Corr

Related Correlations Analysis

	TOW	C8U	BSI	SMG	VNX	MKN2	M1W	ZYR1
TOW		0.67	0.74	0.84	0.87	0.0	0.49	0.68	TOW
C8U	0.67		0.84	0.64	0.74	0.0	0.91	0.56	C8U
BSI	0.74	0.84		0.81	0.88	0.0	0.8	0.65	BSI
SMG	0.84	0.64	0.81		0.86	0.0	0.57	0.6	SMG
VNX	0.87	0.74	0.88	0.86		0.0	0.69	0.69	VNX
MKN2	0.0	0.0	0.0	0.0	0.0		0.0	0.0	MKN2
M1W	0.49	0.91	0.8	0.57	0.69	0.0		0.46	M1W
ZYR1	0.68	0.56	0.65	0.6	0.69	0.0	0.46		ZYR1
	TOW	C8U	BSI	SMG	VNX	MKN2	M1W	ZYR1

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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

M1W	+ 0.91	C8U
VNX	+ 0.88	BSI
VNX	+ 0.87	TOW
VNX	+ 0.86	SMG
SMG	+ 0.84	TOW
BSI	+ 0.84	C8U

High negative correlations

ZYR1	- 0.0	MKN2
M1W	- 0.0	MKN2
MKN2	- 0.0	VNX
MKN2	- 0.0	SMG
MKN2	- 0.0	BSI
MKN2	- 0.0	C8U

Risk-Adjusted Indicators

There is a big difference between MOBILE Stock performing well and MOBILE FACTORY 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 MOBILE FACTORY'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
TOW	2.01	0.50	0.20	2.27	1.71	(2.47)	5.72	(3.05)	9.56
C8U	3.50	0.88	0.19	(11.55)	3.52	(4.09)	9.84	(6.06)	19.23
BSI	2.10	0.58	0.19	(3.54)	1.86	(2.62)	5.50	(3.59)	16.34
SMG	2.37	0.45	0.18	0.53	1.97	(3.30)	5.78	(3.95)	26.57
VNX	1.64	0.37	0.14	1.57	1.44	(2.33)	4.48	(2.54)	13.61
MKN2	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
M1W	3.40	0.65	0.09	(14.42)	3.54	(5.53)	8.51	(6.06)	30.92
ZYR1	2.60	0.21	0.01	(6.90)	3.20	(3.39)	6.33	(6.13)	18.02

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