New Focus Correlations
| NWFAF Stock | USD 0.02 0.01 22.92% |
The correlation of New Focus 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 New Focus moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if New Focus Auto 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 New Focus Auto and NYA is 0.04 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding New Focus Auto and NYA in the same portfolio, assuming nothing else is changed.
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The ability to find closely correlated positions to New Focus could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace New Focus 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 New Focus - 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 New Focus Auto to buy it.
Moving against New Pink Sheet
| 0.54 | BAC | Bank of America Sell-off Trend | PairCorr |
| 0.49 | NTNX | Nutanix Report 22nd of May 2024 | PairCorr |
| 0.48 | GE | GE Aerospace Financial Report 23rd of July 2024 | PairCorr |
| 0.44 | XOM | Exxon Mobil Corp Earnings Call Tomorrow | PairCorr |
| 0.43 | JPM | JPMorgan Chase Financial Report 12th of July 2024 | PairCorr |
| 0.43 | HPQ | HP Inc Financial Report 4th of June 2024 | 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 New Pink Sheet performing well and New Focus 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 New Focus' 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| SVTE | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
| OPTI | 7.62 | (0.81) | 0.00 | 1.68 | 0.00 | 20.00 | 50.79 | |||
| AXL | 1.93 | (0.19) | (0.03) | 0.00 | 2.52 | 4.53 | 11.67 | |||
| MOD | 2.32 | 0.34 | 0.15 | 0.28 | 2.38 | 5.17 | 12.37 | |||
| LIDR | 5.24 | 0.17 | 0.00 | (0.13) | 6.62 | 13.42 | 61.01 |
Be your own money manager
Our tools can tell you how much better you can do entering a position in New Focus 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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New Focus Corporate Directors
New Focus corporate directors refer to members of a New Focus board of directors. The board of directors generally takes responsibility for the New Focus' affairs and long-term direction of the entity. A corporate director does not make decisions for the corporation on his own. As a member of the board of directors, she or he must function as a part of a group that makes decisions on behalf of the business only by the board of directors' meetings. To pass a resolution, a majority of New Focus' board members must vote for the resolution. The New Focus board of directors' duties also include the election, removal, and supervision of officers, including the adoption, amendment, and repeal of bylaws.| Yunling Lin | Director and General Manager of Zhejiang Autoboom | Profile | |
| Jinglei Du | Non-Executive Director | Profile | |
| Lei Lin | Independent Non-Executive Director | Profile | |
| Ngai Li | Non-Executive Director | Profile |
Already Invested in New Focus Auto?
The danger of trading New Focus Auto 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 New Focus 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 New Focus. The Sharpe ratio is calculated by using standard deviation and excess return to determine reward per unit of risk. To understand how volatile New Focus Auto 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 Correlation Analysis to better understand how to build diversified portfolios, which includes a position in New Focus Auto. Also, note that the market value of any company could be tightly coupled with the direction of predictive economic indicators such as signals in nation. Note that the New Focus Auto information on this page should be used as a complementary analysis to other New Focus' statistical models used to find the right mix of equity instruments to add to your existing portfolios or create a brand new portfolio. You can also try the Cryptocurrency Center module to build and monitor diversified portfolio of extremely risky digital assets and cryptocurrency.
Complementary Tools for New Pink Sheet analysis
When running New Focus' price analysis, check to measure New Focus' 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 New Focus is operating at the current time. Most of New Focus' value examination focuses on studying past and present price action to predict the probability of New Focus' future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move New Focus' price. Additionally, you may evaluate how the addition of New Focus to your portfolios can decrease your overall portfolio volatility.
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