QualTek Services Correlations
| QTEKDelisted Stock | USD 0.01 0.00 0.00% |
The correlation of QualTek Services 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 QualTek Services moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if QualTek Services 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 QualTek Services and NYA is 0.14 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding QualTek Services and NYA in the same portfolio, assuming nothing else is changed.
QualTek |
The ability to find closely correlated positions to QualTek Services could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace QualTek Services 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 QualTek Services - 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 QualTek Services to buy it.
Moving together with QualTek Stock
| 0.79 | PME | Pingtan Marine Enterprise | PairCorr |
| 0.85 | BA | Boeing Earnings Call Today | PairCorr |
| 0.7 | MCD | McDonalds Earnings Call This Week | PairCorr |
Moving against QualTek Stock
| 0.93 | CAT | Caterpillar Earnings Call Tomorrow | PairCorr |
| 0.9 | AXP | American Express Financial Report 19th of July 2024 | PairCorr |
| 0.89 | BAC | Bank of America Aggressive Push | PairCorr |
| 0.89 | DIS | Walt Disney Report 8th of May 2024 | PairCorr |
| 0.88 | JPM | JPMorgan Chase Financial Report 12th of July 2024 | PairCorr |
| 0.82 | CVX | Chevron Corp Earnings Call This Week | PairCorr |
| 0.73 | MACAU | Moringa Acquisition Corp | PairCorr |
| 0.73 | TRV | The Travelers Companies Financial Report 18th of July 2024 | PairCorr |
| 0.72 | DD | Dupont De Nemours Earnings Call This Week | PairCorr |
| 0.67 | MSFT | Microsoft Earnings Call Tomorrow | PairCorr |
| 0.65 | AA | Alcoa Corp Financial Report 17th of July 2024 | PairCorr |
| 0.62 | IBM | International Business Earnings Call Today | PairCorr |
| 0.51 | WINVU | WinVest Acquisition Corp | PairCorr |
| 0.46 | MRK | Merck Company Earnings Call Tomorrow | PairCorr |
| 0.42 | QDROU | Quadro Acquisition One | 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 QualTek Stock performing well and QualTek Services 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 QualTek Services' 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| KORE | 4.76 | (0.23) | 0.00 | (0.16) | 0.00 | 10.00 | 41.80 | |||
| CNSL | 0.36 | (0.14) | 0.00 | (1.38) | 0.00 | 0.70 | 2.61 | |||
| TV | 2.22 | 0.03 | 0.00 | 0.11 | 3.08 | 4.56 | 21.27 | |||
| FNGR | 4.25 | 0.14 | 0.05 | 0.14 | 4.56 | 9.56 | 26.45 | |||
| IDT | 1.00 | 0.08 | 0.05 | 0.20 | 1.09 | 2.24 | 6.48 | |||
| CCOI | 1.50 | (0.23) | 0.00 | (0.24) | 0.00 | 2.65 | 12.84 | |||
| LBRDA | 1.78 | (0.71) | 0.00 | (0.42) | 0.00 | 2.78 | 20.87 | |||
| RBBN | 2.07 | (0.32) | 0.00 | (0.08) | 0.00 | 4.48 | 13.46 |
QualTek Services Related Equities
One of the popular trading techniques among algorithmic traders is to use market-neutral strategies where every trade hedges away some risk. Because there are two separate transactions required, even if one position performs unexpectedly, the other equity can make up some of the losses. Below are some of the equities that can be combined with QualTek Services stock to make a market-neutral strategy. Peer analysis of QualTek Services could also be used in its relative valuation, which is a method of valuing QualTek Services by comparing valuation metrics with similar companies.
| Risk & Return | Correlation |
QualTek Services Corporate Management
Elected by the shareholders, the QualTek Services' board of directors comprises two types of representatives: QualTek Services inside directors who are chosen from within the company, and outside directors, selected externally and held independent of QualTek. The board's role is to monitor QualTek Services' management team and ensure that shareholders' interests are well served. QualTek Services' inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, QualTek Services' outside directors are responsible for providing unbiased perspectives on the board's policies.
| Jay Heaberlin | Pres Wireline | Profile | |
| Elizabeth Downey | Chief Officer | Profile | |
| Christopher Hisey | CEO Director | Profile | |
| Adam Spittler | Chief Officer | Profile | |
| Paul Kestenbaum | G Counsel | Profile | |
| Tom Mix | Pres Logistics | Profile | |
| Michael Williams | Chief Officer | Profile |
Still Interested in QualTek Services?
Investing in delisted delisted stocks can be risky, as the stock is no longer traded on a public exchange and can therefore be difficult to sell. Delisting typically occurs when a company has failed to meet exchange requirements or has been acquired. Before investing, it's important to thoroughly research the company, including its financial health and prospects for the future, as well as the reasons for its delisting. Additionally, it may be difficult to find accurate and up-to-date information on the company and its stock.
Check out Your Equity Center to better understand how to build diversified portfolios. Also, note that the market value of any company could be tightly coupled with the direction of predictive economic indicators such as signals in income. Note that the QualTek Services information on this page should be used as a complementary analysis to other QualTek Services' 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 Volatility Analysis module to get historical volatility and risk analysis based on latest market data.
Other Consideration for investing in QualTek Stock
If you are still planning to invest in QualTek Services check if it may still be traded through OTC markets such as Pink Sheets or OTC Bulletin Board. You may also purchase it directly from the company, but this is not always possible and may require contacting the company directly. Please note that delisted stocks are often considered to be more risky investments, as they are no longer subject to the same regulatory and reporting requirements as listed stocks. Therefore, it is essential to carefully research the QualTek Services' history and understand the potential risks before investing.
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