ADENTRA Correlations

ADEN Stock

38.16 0.05 0.13%

The current 90-days correlation between ADENTRA and Wajax is 0.1 (i.e., Average diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as ADENTRA moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if ADENTRA moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

ADENTRA Correlation With Market

Very weak diversification

The correlation between ADENTRA and DJI is 0.41 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding ADENTRA and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with ADENTRA Stock

0.82	NXR-UN	Nexus Real Estate	Pair Corr
0.72	VAX	Vantex Resources	Pair Corr
0.62	GMG	Graphene Manufacturing	Pair Corr
0.64	IE	Ivanhoe Energy	Pair Corr
0.64	ENB-PFU	Enbridge Pref L	Pair Corr

Related Correlations Analysis

	WJX	BDI	ALC	DXT	MAL	GDI	ZDC	DIV	MTL	AFN
WJX		0.18	0.87	0.89	0.56	0.5	-0.43	0.81	0.74	-0.71	WJX
BDI	0.18		0.18	0.36	0.78	0.77	-0.22	0.44	0.58	0.25	BDI
ALC	0.87	0.18		0.93	0.49	0.43	-0.64	0.9	0.83	-0.76	ALC
DXT	0.89	0.36	0.93		0.63	0.56	-0.6	0.93	0.87	-0.68	DXT
MAL	0.56	0.78	0.49	0.63		0.82	-0.3	0.65	0.76	-0.08	MAL
GDI	0.5	0.77	0.43	0.56	0.82		-0.33	0.65	0.73	-0.14	GDI
ZDC	-0.43	-0.22	-0.64	-0.6	-0.3	-0.33		-0.7	-0.6	0.58	ZDC
DIV	0.81	0.44	0.9	0.93	0.65	0.65	-0.7		0.91	-0.61	DIV
MTL	0.74	0.58	0.83	0.87	0.76	0.73	-0.6	0.91		-0.46	MTL
AFN	-0.71	0.25	-0.76	-0.68	-0.08	-0.14	0.58	-0.61	-0.46		AFN
	WJX	BDI	ALC	DXT	MAL	GDI	ZDC	DIV	MTL	AFN

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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

DXT	+ 0.93	ALC
DIV	+ 0.93	DXT
MTL	+ 0.91	DIV
DIV	+ 0.9	ALC
DXT	+ 0.89	WJX
ALC	+ 0.87	WJX

High negative correlations

AFN	- 0.76	ALC
AFN	- 0.71	WJX
DIV	- 0.7	ZDC
AFN	- 0.68	DXT
ZDC	- 0.64	ALC
AFN	- 0.61	DIV

Risk-Adjusted Indicators

There is a big difference between ADENTRA Stock performing well and ADENTRA 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 ADENTRA'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
WJX	1.07	0.29	0.22	0.55	0.80	(1.25)	2.08	(2.10)	10.71
BDI	1.02	0.09	0.04	0.22	1.13	(1.21)	2.61	(1.62)	8.78
ALC	0.89	0.16	0.09	0.73	0.81	(1.08)	2.59	(1.36)	5.96
DXT	1.07	0.37	0.25	1.27	0.72	(1.37)	2.36	(1.64)	7.20
MAL	1.68	0.38	0.18	0.49	1.66	(1.93)	4.59	(2.79)	11.78
GDI	1.46	0.39	0.29	0.65	0.74	(1.97)	3.01	(2.24)	24.02
ZDC	2.78	(0.07)	0.00	0.06	4.29	(2.91)	4.94	(4.31)	23.80
DIV	0.76	0.13	0.04	0.81	0.98	(0.84)	1.44	(1.85)	8.71
MTL	0.74	0.24	0.19	0.46	0.76	(0.86)	1.60	(1.41)	5.03
AFN	3.02	(0.30)	0.00	(0.01)	0.00	0.00	5.56	(4.87)	44.10

Be your own money manager

Our tools can tell you how much better you can do entering a position in ADENTRA 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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ADENTRA Corporate Executives

Elected by the shareholders, the ADENTRA's board of directors comprises two types of representatives: ADENTRA inside directors who are chosen from within the company, and outside directors, selected externally and held independent of ADENTRA. The board's role is to monitor ADENTRA's management team and ensure that shareholders' interests are well served. ADENTRA's inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, ADENTRA's outside directors are responsible for providing unbiased perspectives on the board's policies.

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