Deswell Industries Correlations
| DSWL Stock | USD 2.44 0.04 1.67% |
The correlation of Deswell Industries 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 Deswell Industries moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Deswell Industries 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.
Average diversification
The correlation between Deswell Industries and NYA is 0.1 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Deswell Industries and NYA in the same portfolio, assuming nothing else is changed.
Deswell |
The ability to find closely correlated positions to Deswell Industries could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Deswell Industries 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 Deswell Industries - 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 Deswell Industries to buy it.
Moving together with Deswell Stock
| 0.75 | SNT | Senstar Technologies | PairCorr |
| 0.73 | INSG | Inseego Corp Trending | PairCorr |
| 0.71 | SILC | Silicom | PairCorr |
Moving against Deswell Stock
| 0.82 | AUDC | AudioCodes | PairCorr |
| 0.8 | MOB | Mobilicom Limited | PairCorr |
| 0.75 | AVNW | Aviat Networks Fiscal Year End 28th of August 2024 | PairCorr |
| 0.72 | FEIM | Frequency Electronics | PairCorr |
| 0.66 | CMTL | Comtech Telecommunicatio Tech Boost | PairCorr |
| 0.66 | DV | DoubleVerify Holdings Earnings Call This Week | PairCorr |
| 0.65 | ITI | Iteris Inc Earnings Call This Week | PairCorr |
| 0.58 | MINM | Minim Inc Financial Report 11th of November 2024 | PairCorr |
| 0.57 | SYTA | Siyata MobileInc Report 21st of May 2024 | PairCorr |
| 0.55 | MITQ | Moving iMage Technologies | PairCorr |
| 0.52 | S | SentinelOne Financial Report 6th of June 2024 | PairCorr |
| 0.51 | AKTS | Akoustis Technologies Fiscal Year End 4th of September 2024 | PairCorr |
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
| High negative correlations
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Risk-Adjusted Indicators
There is a big difference between Deswell Stock performing well and Deswell Industries 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 Deswell Industries' 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| IEHC | 2.66 | 0.04 | 0.01 | 0.11 | 3.77 | 8.33 | 27.56 | |||
| LGL | 2.47 | (0.26) | 0.00 | (0.36) | 0.00 | 5.39 | 15.41 | |||
| MPAD | 0.68 | (0.07) | 0.00 | 0.21 | 0.00 | 1.85 | 11.40 | |||
| SGMA | 1.96 | 0.57 | 0.21 | (1.33) | 1.57 | 5.48 | 15.41 | |||
| DAKT | 1.70 | 0.61 | 0.25 | 1.18 | 1.52 | 3.62 | 14.25 | |||
| MPTI | 3.35 | (0.39) | 0.00 | (0.15) | 0.00 | 7.45 | 31.63 | |||
| INRD | 2.49 | (0.05) | 0.00 | (0.38) | 0.00 | 10.37 | 48.83 | |||
| TTMI | 1.58 | 0.11 | 0.13 | 0.14 | 1.30 | 3.96 | 14.31 | |||
| LINK | 3.40 | (0.65) | 0.00 | 2.13 | 0.00 | 6.67 | 26.29 | |||
| MEI | 2.89 | (0.68) | 0.00 | 0.84 | 0.00 | 4.54 | 33.72 |
Be your own money manager
Our tools can tell you how much better you can do entering a position in Deswell Industries 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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Already Invested in Deswell Industries?
The danger of trading Deswell Industries 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 Deswell Industries 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 Deswell Industries. The Sharpe ratio is calculated by using standard deviation and excess return to determine reward per unit of risk. To understand how volatile Deswell Industries 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 Deswell Industries is a strong investment it is important to analyze Deswell Industries' competitive position within its industry, examining market share, product or service uniqueness, and competitive advantages. Beyond financials and market position, potential investors should also consider broader economic conditions, industry trends, and any regulatory or geopolitical factors that may impact Deswell Industries' future performance. For an informed investment choice regarding Deswell Stock, refer to the following important reports: Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in Deswell Industries. Also, note that the market value of any company could be tightly coupled with the direction of predictive economic indicators such as signals in housing. For more information on how to buy Deswell Stock please use our How to buy in Deswell Stock guide.You can also try the Latest Portfolios module to quick portfolio dashboard that showcases your latest portfolios.
Complementary Tools for Deswell Stock analysis
When running Deswell Industries' price analysis, check to measure Deswell Industries' 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 Deswell Industries is operating at the current time. Most of Deswell Industries' value examination focuses on studying past and present price action to predict the probability of Deswell Industries' future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Deswell Industries' price. Additionally, you may evaluate how the addition of Deswell Industries to your portfolios can decrease your overall portfolio volatility.
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Is Deswell Industries' 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 Deswell Industries. If investors know Deswell 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 Deswell Industries 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 (0.32) | Dividend Share 0.2 | Earnings Share 0.39 | Revenue Per Share 4.432 | Quarterly Revenue Growth (0.15) |
The market value of Deswell Industries is measured differently than its book value, which is the value of Deswell that is recorded on the company's balance sheet. Investors also form their own opinion of Deswell Industries' value that differs from its market value or its book value, called intrinsic value, which is Deswell Industries' 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 Deswell Industries' market value can be influenced by many factors that don't directly affect Deswell Industries' 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 Deswell Industries' value and its price as these two are different measures arrived at by different means. Investors typically determine if Deswell Industries is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Deswell Industries' 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.