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Correlation Matrix

Typically, diversification allows investors to combine positions across different asset classes to reduce overall portfolio risk. Correlation between positions in your portfolio represents the degree of relationship between the price movements of corresponding instruments. A correlation of about +1.0 implies that the prices move in tandem. A correlation of -1.0 means that prices move in opposite directions. A correlation of close to zero suggests that the price movements of assets are uncorrelated.

	GENGF	TNEYF	MEGEF	CRLFF	SPGYF	CEIEF
GENGF		-0.33	0.47	0.74	0.26	0.89	GENGF
TNEYF	-0.33		0.39	0.01	0.38	-0.43	TNEYF
MEGEF	0.47	0.39		0.69	0.86	0.28	MEGEF
CRLFF	0.74	0.01	0.69		0.42	0.62	CRLFF
SPGYF	0.26	0.38	0.86	0.42		0.07	SPGYF
CEIEF	0.89	-0.43	0.28	0.62	0.07		CEIEF
	GENGF	TNEYF	MEGEF	CRLFF	SPGYF	CEIEF

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High positive correlations

CEIEF	+ 0.89	GENGF
SPGYF	+ 0.86	MEGEF
CRLFF	+ 0.74	GENGF
CRLFF	+ 0.69	MEGEF
CEIEF	+ 0.62	CRLFF
MEGEF	+ 0.47	GENGF

High negative correlations

CEIEF	- 0.43	TNEYF
TNEYF	- 0.33	GENGF

Risk-Adjusted Indicators

There is a big difference between a company's stock performing well and the company itself 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 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
GENGF	1.78	(0.38)	0.00	(0.42)	0.00	0.00	2.70	(4.65)	11.28
TNEYF	1.83	0.17	0.04	0.48	2.23	(1.91)	3.81	(3.33)	10.79
MEGEF	1.77	(0.17)	0.00	(0.29)	0.00	0.00	3.98	(3.96)	8.90
CRLFF	1.09	(0.10)	0.00	(0.33)	0.00	0.00	1.99	(2.34)	5.44
SPGYF	1.40	(0.03)	(0.06)	0.00	1.96	(1.29)	2.25	(3.43)	8.34
CEIEF	0.92	(0.16)	0.00	(1.86)	0.00	0.00	2.00	(3.39)	10.92

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Competitive Analysis

Better Than Average

Worse Than Peers

View Performance Chart

	GENGF	TNEYF	MEGEF	CRLFF	SPGYF	CEIEF
	2.56 0.38 Gear	3.77 3.30 Tamarack	5.17 17.60 MEG	1.26 4.71 Cardinal	3.21 7.23 Whitecap	1.85 0.53 Coelacanth
Market Volatility (90 Days Market Risk)	Abnormally volatile	Moderately volatile	Not too volatile	Somewhat reliable	Somewhat reliable	Dangerous
Market Performance (90 Days Performance)	Very Weak	Modest	Very Weak	Very Weak	Very Weak	Very Weak
Odds of Financial Distress (Probability Of Bankruptcy)	Low	Low	Low	Low	Low	Low
Current Valuation (Equity Enterprise Value)	Over Valued	Over Valued	Fairly Valued	Fairly Valued	Over Valued	Over Valued
Buy or Sell Advice (Average Analysts Consensus)	Not Available	Not Available	Not Available	Not Available	Not Available	Not Available
Trade Advice (90 Days Macroaxis Advice)	Strong Sell	Strong Sell	Strong Sell	Strong Sell	Strong Sell	Strong Sell
Current Ratio	1.13 X	0.88 X	1.61 X	1.00 X	1.05 X	N/A
Net Asset	318.76 M	2.33 B	7.59 B	1.08 B	6.88 B	N/A
Profit Margin	0.76 %	0.41 %	0.15 %	0.39 %	0.44 %	N/A
EBITDA	87.47 M	753.59 M	1.06 B	377.14 M	2.96 B	N/A
Operating Margin	0.57 %	0.58 %	0.26 %	0.40 %	0.59 %	N/A
Current Valuation	207.79 M	1.93 B	5.24 B	865.29 M	5.94 B	211.37 M
Price To Book	1.21 X	1.36 X	1.19 X	1.35 X	1.25 X	N/A
Five Year Return	N/A	N/A	N/A	10.70 %	5.98 %	N/A
Beta	4.13	2.77	2.91	3.19	2.93	N/A
Number Of Employees	30	74	411	21	453	7
Shares Outstanding	259.7 M	556.94 M	298 M	155.74 M	610.7 M	425.11 M
Cash Flow From Operations	51.88 M	297.89 M	690 M	125.12 M	1.12 B	N/A
Annual Yield	0.11 %	0.03 %	N/A	0.1 %	0.05 %	N/A
Total Debt	26.36 M	477.44 M	2.48 B	154.96 M	1.06 B	535 K
Return On Equity	0.71	0.3	0.23	0.3	0.37	N/A
Z Score	4.8	2.4	1.2	3.0	2.4	N/A
Return On Asset	0.2	0.15	0.14	0.14	0.16	N/A
Book Value Per Share	0.89 X	3.79 X	14.65 X	5.38 X	7.94 X	0.23 X
Total Asset	318.76 M	2.33 B	7.59 B	1.08 B	6.88 B	N/A
Debt To Equity	0.02 %	0.17 %	0.53 %	0.08 %	0.19 %	0.01 %
Last Dividend Paid	0.04	0.082	N/A	0.2	0.34	N/A
Shares Owned By Institutions	9.62 %	37.80 %	35.84 %	4.69 %	24.10 %	16.60 %
Market Capitalization	212.95 M	1.93 B	5.16 B	861.54 M	5 B	243.37 M
Price To Earning	2.58 X	7.15 X	7.81 X	2.94 X	14.90 X	N/A
Price To Sales	1.23 X	1.68 X	0.64 X	1.44 X	1.21 X	N/A
Net Income	80.5 M	390.51 M	283 M	284.42 M	1.78 B	N/A
Earnings Per Share	0.36 X	0.77 X	2.29 X	1.05 X	1.87 X	N/A
Shares Owned By Insiders	6.80 %	1.15 %	0.58 %	22.62 %	0.24 %	30.47 %
Revenue	129.03 M	701.05 M	4.4 B	448.75 M	2.69 B	N/A
Cash And Equivalents	520.94 K	97.51 M	244 M	6.7 M	197.95 M	72.75 M
Cash Per Share	N/A	0.22 X	0.80 X	0.04 X	0.32 X	0.17 X
Gross Profit	79.4 M	481.06 M	1.75 B	206.77 M	1.63 B	N/A
Day Typical Price	0.38	3.29	17.78	4.72	7.24	0.53
Accumulation Distribution	3543.59	0.0091	1381.99	23.81	297.67	923.61
Market Facilitation Index	N/A	0.03	0.0	0.0	0.0	N/A
Daily Balance Of Power	(0.50)	4.0	(1.25)	(3.00)	(3.00)	(1.00)
Period Momentum Indicator	(0.01)	0.12	(0.96)	(0.06)	(0.24)	(0.01)
Rate Of Daily Change	0.97	1.04	0.95	0.99	0.97	0.98
Day Median Price	0.38	3.29	17.87	4.72	7.24	0.54
Price Action Indicator	(0.01)	0.075	(0.74)	(0.04)	(0.13)	(0.01)
Coefficient Of Variation	(862.71)	993.56	(1,997)	(2,157)	19301.98	(1,213)
Mean Deviation	1.78	1.83	1.77	1.09	1.4	0.9155
Jensen Alpha	(0.38)	0.1676	(0.17)	(0.1)	(0.03)	(0.16)
Total Risk Alpha	(0.67)	(0.14)	(0.46)	(0.28)	(0.27)	(0.43)
Sortino Ratio	N/A	0.0423	N/A	N/A	(0.06)	N/A
Downside Variance	N/A	6.07	N/A	N/A	4.3	N/A
Standard Deviation	2.45	2.31	2.2	1.34	1.75	1.75
Kurtosis	0.2965	0.115	(0.01)	(0.05)	(0.06)	4.55
Potential Upside	2.7	3.81	3.98	1.99	2.25	2.0
Treynor Ratio	(0.42)	0.4784	(0.29)	(0.33)	(0)	(1.86)
Maximum Drawdown	11.28	10.79	8.9	5.44	8.34	10.92
Variance	6.01	5.35	4.85	1.81	3.05	3.07
Market Risk Adjusted Performance	(0.41)	0.4884	(0.28)	(0.32)	0.0064	(1.85)
Risk Adjusted Performance	(0.08)	0.0836	(0.03)	(0.03)	0.0096	(0.06)
Skewness	(0.31)	(0.06)	(0.07)	(0.67)	(0.43)	0.1474
Semi Deviation	N/A	2.23	N/A	N/A	1.96	N/A
Information Ratio	(0.17)	0.045	(0.11)	(0.14)	(0.07)	(0.16)
Value At Risk	(4.65)	(3.33)	(3.96)	(2.34)	(3.43)	(3.39)
Expected Short fall	N/A	(1.91)	N/A	N/A	(1.29)	N/A
Downside Deviation	N/A	2.46	N/A	N/A	2.07	N/A
Semi Variance	N/A	4.99	N/A	N/A	3.85	N/A

Market Neutrality

One of the main advantages of trading using market-neutral strategies is that 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.

Please note, the success of pairs trading depends heavily on the modeling and forecasting of the spread time series. However, in general, pair trading minimizes risk from directional movements in the market unless the strategy's equities are perfectly correlated. For example, if an entire industry or sector drops because of unexpected headlines, the first equity's short position will appreciate offsetting losses from the drop in the long position's value.

Five steps to successful analysis of competition

Competitive analysis is the process of researching and evaluating the competitive landscape of a business entity. It provides an understanding of the company's strengths, weaknesses, opportunities, and threats (SWOT) in relation to its competition. The competition analysis typically involves several steps, including:

Identifying the key players in the market: This involves identifying the major competitors across the sector or industry, both direct and indirect, as well as new entrants and disruptive technologies.
Assessing the strengths and weaknesses of each competitor: This involves evaluating each competitor's strengths and weaknesses in areas such as product offerings, market share, brand recognition, financial performance, and distribution channels.
Understanding the competitive environment: This involves evaluating the regulatory environment, economic conditions, and other factors that may impact the competitive landscape.
Identifying opportunities and threats: This involves using the information gathered during the analysis to identify opportunities and threats and developing a strategy to address them.
Evaluating the competitive landscape: This involves understanding the competitive dynamics of the market, such as pricing, marketing, and distribution strategies, as well as analyzing the competitive advantage of each competitor.

Competitive analysis is an essential tool for businesses to stay ahead of the competition and can be used to inform decision-making and strategy development. By understanding the competitive landscape and staying informed about the activities of competitors, a company can make more informed decisions and improve its overall performance.

Trending Themes

If you are a self-driven investor, you will appreciate our idea-generating investing themes. Our themes help you align your investments inspirations with your core values and are essential building blocks of your portfolios. A typical investing theme is an unweighted collection of up to 20 funds, stocks, ETFs, or cryptocurrencies that are programmatically selected from a pull of equities with common characteristics such as industry and growth potential, volatility, or market segment.

	Entertainment Invested over 90 shares	Go
	Macroaxis Index Invested few shares	Go
	Momentum Invested over 60 shares	Go
	Hedge Favorites Invested over 100 shares	Go
	Banking Invested over 20 shares	Go
	Warren Buffett Holdings Invested over 40 shares	Go
	Blockchain Invested few shares	Go
	Automobiles and Trucks Invested over 50 shares	Go
	Manufacturing Invested over 30 shares	Go
	Business Services Invested few shares	Go
	Baby Boomer Prospects Invested over 60 shares	Go
	ESG Investing Invested few shares	Go

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Note that this page's information should be used as a complementary analysis 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 Premium Stories module to follow Macroaxis premium stories from verified contributors across different equity types, categories and coverage scope.

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