TenX Keane Correlations
| TENKR Stock | 0.24 0 1.83% |
The correlation of TenX Keane 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 perfect positive correlation (i.e., a correlation coefficient of +1) implies that as TenX Keane moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if TenX Keane Acquisition moves in either direction, the perfectly negatively correlated security will move in the opposite direction. If the correlation is 0, the equities are not correlated; they are entirely random. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.
Good diversification
The correlation between TenX Keane Acquisition and NYA is -0.06 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding TenX Keane Acquisition and NYA in the same portfolio, assuming nothing else is changed.
TenX |
The ability to find closely correlated positions to TenX Keane could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace TenX Keane 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 TenX Keane - 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 TenX Keane Acquisition to buy it.
Moving against TenX Stock
| 0.68 | MA | Mastercard | PairCorr |
| 0.66 | CG | Carlyle Group | PairCorr |
| 0.5 | V | Visa Class A Financial Report 23rd of July 2024 | PairCorr |
| 0.48 | AB | AllianceBernstein | PairCorr |
| 0.41 | QD | Qudian Inc | PairCorr |
Related Correlations Analysis
| Click cells to compare fundamentals | Check Volatility | Backtest Portfolio |
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
| High negative correlations
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Risk-Adjusted Indicators
There is a big difference between TenX Stock performing well and TenX Keane 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 TenX Keane'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| RFACR | 9.85 | 1.62 | 0.10 | (1.11) | 10.15 | 29.87 | 83.33 | |||
| ECX | 3.02 | (0.69) | 0.00 | (0.43) | 0.00 | 5.53 | 22.95 | |||
| V | 0.64 | (0.07) | 0.00 | (0.05) | 0.00 | 1.20 | 4.97 | |||
| DHIL | 1.03 | (0.14) | 0.00 | (0.05) | 0.00 | 2.19 | 11.38 | |||
| DIST | 0.12 | 0.00 | (0.16) | (0.17) | 0.19 | 0.28 | 1.96 | |||
| AB | 1.10 | (0.07) | (0.03) | 0.01 | 1.57 | 2.50 | 7.41 | |||
| AC | 0.79 | (0.10) | 0.00 | (0.25) | 0.00 | 1.58 | 4.75 | |||
| BK | 0.72 | (0.02) | (0.02) | 0.05 | 1.15 | 1.56 | 4.67 | |||
| BN | 1.17 | (0.01) | 0.03 | 0.06 | 1.63 | 2.35 | 7.60 | |||
| BX | 1.39 | (0.19) | 0.00 | (0.03) | 0.00 | 2.40 | 7.53 |
Be your own money manager
Our tools can tell you how much better you can do entering a position in TenX Keane 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.Did you try this?
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Instant RatingsDetermine any equity ratings based on digital recommendations. Macroaxis instant equity ratings are based on combination of fundamental analysis and risk-adjusted market performance |
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Already Invested in TenX Keane Acquisition?
The danger of trading TenX Keane Acquisition is mainly related to its market volatility and Company specific events. As an investor, you must understand the concept of risk-adjusted return before you start trading. The most common way to measure the risk of TenX Keane is by using the Sharpe ratio. The ratio expresses how much excess return you acquire for the extra volatility you endure for holding a more risker asset than TenX Keane. The Sharpe ratio is calculated by using standard deviation and excess return to determine reward per unit of risk. To understand how volatile TenX Keane Acquisition is, you must compare it to a benchmark. Traditionally, the risk-free rate of return is the rate of return on the shortest-dated U.S. Treasury, such as a 3-year bond.
When determining whether TenX Keane Acquisition is a good investment, qualitative aspects like company management, corporate governance, and ethical practices play a significant role. A comparison with peer companies also provides context and helps to understand if TenX Stock is undervalued or overvalued. This multi-faceted approach, blending both quantitative and qualitative analysis, forms a solid foundation for making an informed investment decision about Tenx Keane Acquisition Stock. Highlighted below are key reports to facilitate an investment decision about Tenx Keane Acquisition Stock: Check out World Market Map to better understand how to build diversified portfolios, which includes a position in TenX Keane Acquisition. Also, note that the market value of any company could be tightly coupled with the direction of predictive economic indicators such as signals in industry. You can also try the Portfolio Holdings module to check your current holdings and cash postion to detemine if your portfolio needs rebalancing.
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When running TenX Keane's price analysis, check to measure TenX Keane's market volatility, profitability, liquidity, solvency, efficiency, growth potential, financial leverage, and other vital indicators. We have many different tools that can be utilized to determine how healthy TenX Keane is operating at the current time. Most of TenX Keane's value examination focuses on studying past and present price action to predict the probability of TenX Keane's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move TenX Keane's price. Additionally, you may evaluate how the addition of TenX Keane to your portfolios can decrease your overall portfolio volatility.
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Is TenX Keane's industry expected to grow? Or is there an opportunity to expand the business' product line in the future? Factors like these will boost the valuation of TenX Keane. If investors know TenX will grow in the future, the company's valuation will be higher. The financial industry is built on trying to define current growth potential and future valuation accurately. All the valuation information about TenX Keane listed above have to be considered, but the key to understanding future value is determining which factors weigh more heavily than others.
Quarterly Earnings Growth 1.528 | Return On Assets (0.01) |
The market value of TenX Keane Acquisition is measured differently than its book value, which is the value of TenX that is recorded on the company's balance sheet. Investors also form their own opinion of TenX Keane's value that differs from its market value or its book value, called intrinsic value, which is TenX Keane's true underlying value. Investors use various methods to calculate intrinsic value and buy a stock when its market value falls below its intrinsic value. Because TenX Keane's market value can be influenced by many factors that don't directly affect TenX Keane's underlying business (such as a pandemic or basic market pessimism), market value can vary widely from intrinsic value.
Please note, there is a significant difference between TenX Keane's value and its price as these two are different measures arrived at by different means. Investors typically determine if TenX Keane is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, TenX Keane's price is the amount at which it trades on the open market and represents the number that a seller and buyer find agreeable to each party.