Everspin Technologies Correlations

Stocks . Germany . 
Stock . Everspin Technologies
E5N Stock  EUR 5.90  0.05  0.85%   
The current 90-days correlation between Everspin Technologies and Micron Technology is 0.35 (i.e., Weak diversification). The correlation of Everspin Technologies 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.

Everspin Technologies Correlation With Market

Significant diversification

The correlation between Everspin Technologies 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 Everspin Technologies and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to Everspin Technologies could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Everspin Technologies 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 Everspin Technologies - 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 Everspin Technologies to buy it.

Moving together with Everspin Stock

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Moving against Everspin Stock

  0.74CXT Carmat SAPairCorr

Related Correlations Analysis

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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   
S9M
+ 0.94
MTE
RMB
+ 0.92
MTE
S9M
+ 0.92
RMB
E5N
+ 0.86
RMB
E5N
+ 0.79
S9M
E5N
+ 0.72
MTE
  
High negative correlations   
6RI
- 0.05
MTE

Risk-Adjusted Indicators

There is a big difference between Everspin Stock performing well and Everspin Technologies 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 Everspin Technologies' 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.

Be your own money manager

Our tools can tell you how much better you can do entering a position in Everspin Technologies 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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Everspin Technologies Corporate Management

Elected by the shareholders, the Everspin Technologies' board of directors comprises two types of representatives: Everspin Technologies inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Everspin. The board's role is to monitor Everspin Technologies' management team and ensure that shareholders' interests are well served. Everspin Technologies' inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, Everspin Technologies' outside directors are responsible for providing unbiased perspectives on the board's policies.
David SchrenkVP DevelProfile
Aparna OkaCo ControllerProfile
Kerry NagelVP TechnologyProfile
Anuj AggarwalChief OfficerProfile
Amit ShahVP OperationsProfile
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