Akoustis Technologies Correlations
| AKTS Stock | USD 0.58 0.01 1.69% |
The correlation of Akoustis Technologies is a statistical measure of how it moves in relation to other equities. 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 Akoustis Technologies moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Akoustis Technologies 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.
Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Akoustis Technologies. Also, note that the market value of any company could be tightly coupled with the direction of predictive economic indicators such as signals in real. Akoustis |
The ability to find closely correlated positions to Akoustis 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 Akoustis 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 Akoustis 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 Akoustis Technologies to buy it.
Moving together with Akoustis Stock
| + | 0.72 | EXTR | Extreme Networks | Fiscal Quarter End 31st of December 2023 | PairCorr | |
| + | 0.69 | BDC | Belden Inc | Fiscal Quarter End 31st of December 2023 | PairCorr | |
| + | 0.79 | GLW | Corning Incorporated | Fiscal Quarter End 31st of December 2023 | PairCorr | |
| + | 0.78 | OCC | Optical Cable | Report 28th of December 2023 | PairCorr | |
| + | 0.73 | KODK | Eastman Kodak | Potential Growth | PairCorr | |
| + | 0.66 | CSCO | Cisco Systems | Fiscal Quarter End 31st of January 2024 | PairCorr | |
| + | 0.7 | BB | BlackBerry | Report 19th of December 2023 | PairCorr | |
| + | 0.79 | JG | Aurora Mobile | Fiscal Quarter End 31st of December 2023 | PairCorr |
Moving against Akoustis Stock
| - | 0.69 | ESMT | EngageSmart LLC | Fiscal Quarter End 31st of December 2023 | PairCorr |
Related Correlations Analysis
RBC | CHD | UG | EML | MRRTY | NCRA | EL | ||
RBC | 0.47 | 0.68 | 0.63 | 0.76 | -0.07 | 0.26 | RBC | |
CHD | 0.47 | 0.66 | 0.48 | 0.54 | 0.42 | 0.39 | CHD | |
UG | 0.68 | 0.66 | 0.84 | 0.77 | 0.24 | 0.24 | UG | |
EML | 0.63 | 0.48 | 0.84 | 0.66 | 0.25 | 0.15 | EML | |
MRRTY | 0.76 | 0.54 | 0.77 | 0.66 | -0.22 | -0.17 | MRRTY | |
NCRA | -0.07 | 0.42 | 0.24 | 0.25 | -0.22 | 0.56 | NCRA | |
EL | 0.26 | 0.39 | 0.24 | 0.15 | -0.17 | 0.56 | EL | |
RBC | CHD | UG | EML | MRRTY | NCRA | EL |
| 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 |
Risk-Adjusted Indicators
There is a big difference between Akoustis Stock performing well and Akoustis 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 Akoustis 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.| Mean Deviation | Jensen Alpha | Sortino Ratio | Treynor Ratio | Semi Deviation | Information Ratio | Expected Shortfall | Potential Upside | Value @Risk | Maximum Drawdown | ||
|---|---|---|---|---|---|---|---|---|---|---|---|
| RBC | 1.35 | 0.19 | 0.08 | 0.15 | 2.07 | 0.1 | (1.39) | 2.57 | (2.13) | 11.79 | |
| CHD | 0.99 | (0.04) | 0.00 | (0.28) | 0.00 | (0.0255) | 0.00 | 1.88 | (1.97) | 8.15 | |
| UG | 2.45 | 0.06 | 0.02 | (0.84) | 2.46 | 0.0137 | (3.30) | 3.90 | (4.31) | 32.46 | |
| EML | 1.17 | 0.01 | 0.01 | 0.01 | 1.22 | 0.0073 | (1.45) | 2.42 | (2.55) | 10.11 | |
| MRRTY | 2.62 | 0.42 | 0.11 | 0.35 | 3.00 | 0.11 | (3.21) | 6.35 | (5.38) | 21.49 | |
| NCRA | 2.50 | (0.11) | 0.00 | 0.39 | 0.00 | (0.0261) | 0.00 | 6.94 | (4.67) | 29.00 | |
| EL | 2.08 | (0.24) | 0.00 | (0.13) | 0.00 | (0.07) | 0.00 | 3.33 | (4.04) | 21.67 |
Be your own money manager
Our tools can tell you how much better you can do entering a position in Akoustis 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.Did you try this?
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Akoustis Technologies Corporate Executives
Elected by the shareholders, the Akoustis Technologies' board of directors comprises two types of representatives: Akoustis Technologies inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Akoustis. The board's role is to monitor Akoustis Technologies' management team and ensure that shareholders' interests are well served. Akoustis 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, Akoustis Technologies' outside directors are responsible for providing unbiased perspectives on the board's policies.
| Cindy Payne | CFO, Treasurer | Profile |
Already Invested in Akoustis Technologies?
The danger of trading Akoustis Technologies 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 Akoustis Technologies 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 Akoustis Technologies. The Shape ratio is calculated by using standard deviation and excess return to determine reward per unit of risk. To understand how volatile Akoustis Technologies 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 Akoustis Technologies is a strong investment it is important to analyze Akoustis Technologies' 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 Akoustis Technologies' future performance. For an informed investment choice regarding Akoustis Stock, refer to the following important reports: Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Akoustis Technologies. Also, note that the market value of any company could be tightly coupled with the direction of predictive economic indicators such as signals in real. For more information on how to buy Akoustis Stock please use our How to Invest in Akoustis Technologies guide.You can also try the ETF Categories module to list of ETF categories grouped based on various criteria, such as the investment strategy or type of investments.
Complementary Tools for Akoustis Stock analysis
When running Akoustis Technologies' price analysis, check to measure Akoustis Technologies' 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 Akoustis Technologies is operating at the current time. Most of Akoustis Technologies' value examination focuses on studying past and present price action to predict the probability of Akoustis Technologies' future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Akoustis Technologies' price. Additionally, you may evaluate how the addition of Akoustis Technologies to your portfolios can decrease your overall portfolio volatility.
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Is Akoustis Technologies' 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 Akoustis Technologies. If investors know Akoustis 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 Akoustis Technologies listed above have to be considered, but the key to understanding future value is determining which factors weigh more heavily than others.
Earnings Share (0.95) | Revenue Per Share 0.424 | Quarterly Revenue Growth 0.258 | Return On Assets (0.32) | Return On Equity (0.84) |
The market value of Akoustis Technologies is measured differently than its book value, which is the value of Akoustis that is recorded on the company's balance sheet. Investors also form their own opinion of Akoustis Technologies' value that differs from its market value or its book value, called intrinsic value, which is Akoustis Technologies' 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 Akoustis Technologies' market value can be influenced by many factors that don't directly affect Akoustis Technologies' 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 Akoustis Technologies' value and its price as these two are different measures arrived at by different means. Investors typically determine if Akoustis Technologies is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Akoustis Technologies' 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.