Richtech Robotics Correlations
| RR Stock | 1.33 0.02 1.48% |
The correlation of Richtech Robotics 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 Richtech Robotics moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Richtech Robotics Class 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 Richtech Robotics Class 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 Richtech Robotics Class and NYA in the same portfolio, assuming nothing else is changed.
Richtech |
The ability to find closely correlated positions to Richtech Robotics could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Richtech Robotics 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 Richtech Robotics - 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 Richtech Robotics Class to buy it.
Moving against Richtech Stock
| 0.59 | EPAC | Enerpac Tool Group Financial Report 19th of June 2024 | PairCorr |
| 0.55 | CXT | Crane NXT | PairCorr |
| 0.5 | CR | Crane Company | 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 Richtech Stock performing well and Richtech Robotics 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 Richtech Robotics' 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| ALCC | 2.78 | 0.91 | 0.22 | 3.77 | 2.46 | 12.57 | 34.29 | |||
| CVII | 0.09 | 0.00 | (0.55) | 0.20 | 0.00 | 0.19 | 0.56 | |||
| 444859BR2 | 0.71 | 0.13 | 0.05 | 0.71 | 1.07 | 1.73 | 8.02 | |||
| AQUI | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
| BRRAY | 1.18 | 0.16 | 0.00 | (0.41) | 0.00 | 2.12 | 35.79 | |||
| MSTSX | 0.48 | 0.08 | 0.01 | 0.72 | 0.61 | 1.07 | 3.20 | |||
| ABHYX | 0.14 | 0.01 | (0.22) | 3.54 | 0.13 | 0.34 | 1.14 | |||
| LBHIX | 0.18 | 0.00 | (0.23) | 0.00 | 0.19 | 0.48 | 0.98 | |||
| SCAXF | 4.41 | 2.35 | 0.00 | (1.58) | 0.00 | 0.00 | 147.93 | |||
| VIASP | 1.36 | 0.29 | 0.10 | (2.75) | 1.77 | 3.96 | 13.41 |
Be your own money manager
Our tools can tell you how much better you can do entering a position in Richtech Robotics 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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Richtech Robotics Corporate Executives
Elected by the shareholders, the Richtech Robotics' board of directors comprises two types of representatives: Richtech Robotics inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Richtech. The board's role is to monitor Richtech Robotics' management team and ensure that shareholders' interests are well served. Richtech Robotics' inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, Richtech Robotics' outside directors are responsible for providing unbiased perspectives on the board's policies.
| Zhenqiang Huang | CFO CoFounder | Profile |
Already Invested in Richtech Robotics Class?
The danger of trading Richtech Robotics Class 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 Richtech Robotics 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 Richtech Robotics. The Sharpe ratio is calculated by using standard deviation and excess return to determine reward per unit of risk. To understand how volatile Richtech Robotics Class 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 Richtech Robotics Class is a strong investment it is important to analyze Richtech Robotics' 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 Richtech Robotics' future performance. For an informed investment choice regarding Richtech Stock, refer to the following important reports: Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in Richtech Robotics Class. Also, note that the market value of any company could be tightly coupled with the direction of predictive economic indicators such as signals in metropolitan statistical area. You can also try the Options Analysis module to analyze and evaluate options and option chains as a potential hedge for your portfolios.
Complementary Tools for Richtech Stock analysis
When running Richtech Robotics' price analysis, check to measure Richtech Robotics' 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 Richtech Robotics is operating at the current time. Most of Richtech Robotics' value examination focuses on studying past and present price action to predict the probability of Richtech Robotics' future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Richtech Robotics' price. Additionally, you may evaluate how the addition of Richtech Robotics to your portfolios can decrease your overall portfolio volatility.
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Is Richtech Robotics' 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 Richtech Robotics. If investors know Richtech 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 Richtech Robotics listed above have to be considered, but the key to understanding future value is determining which factors weigh more heavily than others.
The market value of Richtech Robotics Class is measured differently than its book value, which is the value of Richtech that is recorded on the company's balance sheet. Investors also form their own opinion of Richtech Robotics' value that differs from its market value or its book value, called intrinsic value, which is Richtech Robotics' 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 Richtech Robotics' market value can be influenced by many factors that don't directly affect Richtech Robotics' 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 Richtech Robotics' value and its price as these two are different measures arrived at by different means. Investors typically determine if Richtech Robotics is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Richtech Robotics' 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.