Birchtech Corp Correlations

BCHT Stock

0.64 0.02 3.23%

The current 90-days correlation between Birchtech Corp and John B Sanfilippo is -0.08 (i.e., Good diversification). The correlation of Birchtech 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.

Birchtech Corp Correlation With Market

Significant diversification

The correlation between Birchtech Corp and DJI is 0.01 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Birchtech Corp and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to Birchtech 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 Birchtech 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 Birchtech 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 Birchtech Corp to buy it.

Moving together with Birchtech OTC Stock

0.75	NVDA	NVIDIA Aggressive Push	Pair Corr
0.73	MSFT	Microsoft Aggressive Push	Pair Corr
0.71	AMZN	Amazon Inc Aggressive Push	Pair Corr
0.62	GOOG	Alphabet Class C Aggressive Push	Pair Corr
0.71	META	Meta Platforms	Pair Corr
0.73	AVGO	Broadcom Aggressive Push	Pair Corr
0.81	AX	Axos Financial Earnings Call This Week	Pair Corr
0.76	PTHL	Pheton Holdings	Pair Corr
0.7	UTMD	Utah Medical Products Earnings Call Tomorrow	Pair Corr
0.79	CGXYY	China Galaxy Securities	Pair Corr
0.69	FPAFF	First Pacific	Pair Corr

Moving against Birchtech OTC Stock

0.54	372546AW1	GEORGE WASH UNIV	Pair Corr
0.49	07274NBG7	BAYNGR 5 15	Pair Corr

Related Correlations Analysis

	JBSS	TBEV	PEP	SFD	FIZZ	SCSC	ABEV	FMX
JBSS		0.0	0.8	-0.31	0.11	-0.33	-0.52	-0.17	JBSS
TBEV	0.0		0.0	0.0	0.0	0.0	0.0	0.0	TBEV
PEP	0.8	0.0		-0.27	0.24	-0.37	-0.55	-0.22	PEP
SFD	-0.31	0.0	-0.27		0.48	0.91	0.06	-0.04	SFD
FIZZ	0.11	0.0	0.24	0.48		0.42	0.13	0.36	FIZZ
SCSC	-0.33	0.0	-0.37	0.91	0.42		0.08	0.0	SCSC
ABEV	-0.52	0.0	-0.55	0.06	0.13	0.08		0.59	ABEV
FMX	-0.17	0.0	-0.22	-0.04	0.36	0.0	0.59		FMX
	JBSS	TBEV	PEP	SFD	FIZZ	SCSC	ABEV	FMX

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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

SCSC	+ 0.91	SFD
PEP	+ 0.8	JBSS
FMX	+ 0.59	ABEV
FIZZ	+ 0.48	SFD
SCSC	+ 0.42	FIZZ
FMX	+ 0.36	FIZZ

High negative correlations

ABEV	- 0.55	PEP
ABEV	- 0.52	JBSS
SCSC	- 0.37	PEP
SCSC	- 0.33	JBSS
SFD	- 0.31	JBSS
SFD	- 0.27	PEP

Risk-Adjusted Indicators

There is a big difference between Birchtech OTC Stock performing well and Birchtech Corp OTC Stock 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 Birchtech 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
JBSS	1.41	(0.13)	0.00	(0.02)	0.00	0.00	2.93	(3.25)	8.57
TBEV	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
PEP	1.05	(0.07)	(0.10)	0.01	1.27	(1.17)	2.20	(1.61)	8.97
SFD	1.28	0.17	0.11	0.34	1.01	(1.50)	3.52	(2.12)	11.05
FIZZ	1.22	0.02	(0.02)	0.17	1.25	(1.37)	2.99	(2.27)	6.95
SCSC	1.30	0.28	0.20	0.50	0.91	(1.55)	3.75	(1.64)	9.57
ABEV	1.02	0.06	(0.05)	1.20	1.23	(1.13)	2.21	(2.01)	6.36
FMX	1.03	0.03	(0.08)	(1.98)	1.25	(1.07)	2.29	(2.13)	5.62

Birchtech Corp Related Equities

One of the popular trading techniques among algorithmic traders is to use market-neutral strategies where every trade hedges away some risk. Because there are two separate transactions required, even if one position performs unexpectedly, the other equity can make up some of the losses. Below are some of the equities that can be combined with Birchtech Corp otc stock to make a market-neutral strategy. Peer analysis of Birchtech Corp could also be used in its relative valuation, which is a method of valuing Birchtech Corp by comparing valuation metrics with similar companies.

John B Sanfilippo High Performance Beverages PepsiCo Smithfield Foods, Common National Beverage Corp ScanSource Ambev SA ADR Fomento Economico Mexicano American Airlines Group Alcoa Corp Apple Inc Best Buy Co Citigroup SentinelOne CVS Health Corp

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