Nexity Correlations

0KB3 Stock

8.94 0.05 0.56%

The current 90-days correlation between Nexity and Samsung Electronics Co is 0.07 (i.e., Significant diversification). The correlation of Nexity 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 correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak. If the correlation is 0, the equities are not correlated; they are entirely random.

Nexity Correlation With Market

Good diversification

The correlation between Nexity and DJI is -0.16 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Nexity and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to Nexity could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Nexity 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 Nexity - 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 Nexity to buy it.

Moving against Nexity Stock

0.8	MNG	MG Plc	Pair Corr
0.8	0RIH	Alphabet Class A	Pair Corr
0.79	ALK	Alkemy Capital Inves	Pair Corr
0.7	BAKK	Bakkavor Group PLC	Pair Corr
0.66	IDHC	Integrated Diagnostics	Pair Corr
0.55	RIGD	Reliance Industries	Pair Corr
0.53	NBPU	NB Private Equity	Pair Corr
0.53	AXB	Axis Bank	Pair Corr
0.46	APN	Applied Nutrition Plc	Pair Corr
0.45	AVCT	Avacta Group PLC	Pair Corr
0.34	HE1	Helium One Global	Pair Corr
0.32	0N4T	Nordea Bank Abp	Pair Corr
0.89	0UKI	Bank of Nova	Pair Corr
0.83	ESO	EPE Special Opportunities	Pair Corr
0.77	STAN	Standard Chartered PLC	Pair Corr
0.75	SYM	Symphony Environmental	Pair Corr
0.73	BIRG	Bank of Ireland	Pair Corr
0.72	BRLA	BlackRock Latin American	Pair Corr
0.69	SGLP	Invesco Physical Gold	Pair Corr
0.64	0QYU	Morgan Stanley	Pair Corr
0.63	JFJ	JPMorgan Japanese	Pair Corr
0.62	TUN	Tungsten West PLC	Pair Corr
0.59	CAML	Central Asia Metals	Pair Corr

Related Correlations Analysis

	SMSD	BC94	SMSN	TYT	RIGD	0R15	KAP
SMSD		0.35	0.35	0.36	0.3	-0.07	0.27	SMSD
BC94	0.35		1.0	0.66	0.54	0.0	0.06	BC94
SMSN	0.35	1.0		0.66	0.54	0.0	0.05	SMSN
TYT	0.36	0.66	0.66		0.65	0.2	-0.21	TYT
RIGD	0.3	0.54	0.54	0.65		0.66	0.05	RIGD
0R15	-0.07	0.0	0.0	0.2	0.66		0.23	0R15
KAP	0.27	0.06	0.05	-0.21	0.05	0.23		KAP
	SMSD	BC94	SMSN	TYT	RIGD	0R15	KAP

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

SMSN	+ 1.0	BC94
TYT	+ 0.66	BC94
TYT	+ 0.66	SMSN
0R15	+ 0.66	RIGD
RIGD	+ 0.65	TYT
RIGD	+ 0.54	BC94

High negative correlations

KAP	- 0.21	TYT
0R15	- 0.07	SMSD
0R15	- 0.0	SMSN
0R15	- 0.0	BC94

Risk-Adjusted Indicators

There is a big difference between Nexity Stock performing well and Nexity 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 Nexity's 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
SMSD	1.72	0.43	0.17	0.86	1.92	(1.95)	3.70	(3.79)	10.35
BC94	2.13	0.40	0.15	0.57	2.36	(2.38)	4.05	(3.83)	11.94
SMSN	2.13	0.40	0.15	0.55	2.34	(2.39)	4.05	(3.83)	11.94
TYT	1.25	0.21	0.06	4.96	1.48	(1.70)	3.36	(2.89)	10.12
RIGD	0.78	0.17	0.13	1.92	0.71	(0.93)	1.60	(1.14)	5.41
0R15	7.48	(2.26)	0.00	13.74	0.00	0.00	10.41	(15.39)	89.30
KAP	2.39	0.19	0.04	(0.79)	2.82	(2.72)	5.64	(5.24)	18.39

Be your own money manager

Our tools can tell you how much better you can do entering a position in Nexity 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.

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