HOYA Correlations
HYB Stock | EUR 112.65 3.15 2.88% |
The correlation of HOYA 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 HOYA moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if HOYA Corporation 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.
Significant diversification
The correlation between HOYA Corp. and NYA is 0.02 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding HOYA Corp. and NYA in the same portfolio, assuming nothing else is changed.
HOYA |
The ability to find closely correlated positions to HOYA could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace HOYA 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 HOYA - 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 HOYA Corporation to buy it.
Moving against HOYA Stock
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0.5 | SSU | Samsung Electronics | PairCorr |
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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
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Risk-Adjusted Indicators
There is a big difference between HOYA Stock performing well and HOYA 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 HOYA'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 | ||
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951 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
2DG | 4.73 | 0.22 | 0.02 | (0.30) | 5.71 | 13.04 | 47.58 | |||
TLX | 1.12 | 0.22 | 0.16 | 0.32 | 1.14 | 2.83 | 6.25 | |||
TM9 | 2.45 | 0.18 | 0.03 | 0.82 | 4.35 | 7.02 | 35.83 | |||
NOH1 | 2.83 | 1.41 | 0.68 | (10.99) | 1.02 | 5.42 | 62.47 | |||
VOW | 1.21 | (0.04) | 0.00 | (0.09) | 0.00 | 2.42 | 9.36 | |||
RS6 | 1.02 | (0.12) | 0.00 | (0.75) | 0.00 | 2.01 | 12.72 | |||
RRU | 1.89 | 0.31 | 0.13 | 1.33 | 1.93 | 4.01 | 9.83 |
Be your own money manager
Our tools can tell you how much better you can do entering a position in HOYA 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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HOYA Corporate Management
Elected by the shareholders, the HOYA's board of directors comprises two types of representatives: HOYA inside directors who are chosen from within the company, and outside directors, selected externally and held independent of HOYA. The board's role is to monitor HOYA's management team and ensure that shareholders' interests are well served. HOYA's inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, HOYA's outside directors are responsible for providing unbiased perspectives on the board's policies.
Tomoko Nakagawa | Ex Officer | Profile | |
Eiichiro Ikeda | President, Officer | Profile | |
Augustine JD | Chief Officer | Profile | |
Ryo Hirooka | CFO Officer | Profile | |
Taishi Arashida | Officer IR | Profile |
Already Invested in HOYA Corporation?
The danger of trading HOYA Corporation 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 HOYA 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 HOYA. The Sharpe ratio is calculated by using standard deviation and excess return to determine reward per unit of risk. To understand how volatile HOYA 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.
Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in HOYA Corporation. Also, note that the market value of any company could be tightly coupled with the direction of predictive economic indicators such as signals in board of governors. You can also try the Odds Of Bankruptcy module to get analysis of equity chance of financial distress in the next 2 years.
Complementary Tools for HOYA Stock analysis
When running HOYA's price analysis, check to measure HOYA'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 HOYA is operating at the current time. Most of HOYA's value examination focuses on studying past and present price action to predict the probability of HOYA's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move HOYA's price. Additionally, you may evaluate how the addition of HOYA to your portfolios can decrease your overall portfolio volatility.
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