AXIL Brands Correlations

AXIL Stock

6.67 0.05 0.74%

The current 90-days correlation between AXIL Brands and CarMax Inc is -0.07 (i.e., Good diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as AXIL Brands moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if AXIL Brands moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

AXIL Brands Correlation With Market

Poor diversification

The correlation between AXIL Brands and DJI is 0.64 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding AXIL Brands and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with AXIL OTC Stock

0.63	FCAP	First Capital	Pair Corr
0.7	BA	Boeing	Pair Corr
0.71	AA	Alcoa Corp	Pair Corr

Moving against AXIL OTC Stock

0.52	HPQ	HP Inc Aggressive Push	Pair Corr
0.46	AAPL	Apple Inc	Pair Corr
0.35	MSFT	Microsoft Sell-off Trend	Pair Corr

Related Correlations Analysis

	BRRAY	MSTSX	ABHYX	RRTLX	KNF	KLKNF	GBEN	QUAYX	SEGG	KMX
BRRAY		0.81	0.9	0.83	0.38	0.77	0.0	0.65	-0.13	0.85	BRRAY
MSTSX	0.81		0.71	0.97	0.3	0.86	0.0	0.72	-0.33	0.79	MSTSX
ABHYX	0.9	0.71		0.74	0.4	0.58	0.0	0.49	-0.2	0.71	ABHYX
RRTLX	0.83	0.97	0.74		0.37	0.89	0.0	0.79	-0.34	0.84	RRTLX
KNF	0.38	0.3	0.4	0.37		0.27	0.0	0.57	-0.42	0.6	KNF
KLKNF	0.77	0.86	0.58	0.89	0.27		0.0	0.72	-0.27	0.84	KLKNF
GBEN	0.0	0.0	0.0	0.0	0.0	0.0		0.0	0.0	0.0	GBEN
QUAYX	0.65	0.72	0.49	0.79	0.57	0.72	0.0		-0.24	0.83	QUAYX
SEGG	-0.13	-0.33	-0.2	-0.34	-0.42	-0.27	0.0	-0.24		-0.32	SEGG
KMX	0.85	0.79	0.71	0.84	0.6	0.84	0.0	0.83	-0.32		KMX
	BRRAY	MSTSX	ABHYX	RRTLX	KNF	KLKNF	GBEN	QUAYX	SEGG	KMX

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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

RRTLX	+ 0.97	MSTSX
ABHYX	+ 0.9	BRRAY
KLKNF	+ 0.89	RRTLX
KLKNF	+ 0.86	MSTSX
KMX	+ 0.85	BRRAY
KMX	+ 0.84	RRTLX

High negative correlations

SEGG	- 0.42	KNF
SEGG	- 0.34	RRTLX
SEGG	- 0.33	MSTSX
KMX	- 0.32	SEGG
SEGG	- 0.27	KLKNF
SEGG	- 0.24	QUAYX

Risk-Adjusted Indicators

There is a big difference between AXIL OTC Stock performing well and AXIL Brands OTC Stock 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 AXIL Brands' 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
BRRAY	5.76	1.99	0.18	0.69	3.11	(29.13)	17.76	(10.94)	120.98
MSTSX	0.66	0.21	0.20	1.58	0.27	(0.81)	1.45	(1.01)	12.28
ABHYX	0.07	0.01	(0.28)	0.46	0.00	(0.16)	0.23	(0.12)	0.92
RRTLX	0.28	0.05	(0.01)	0.23	0.00	(0.36)	0.58	(0.49)	3.30
KNF	1.95	0.01	0.04	0.09	2.36	(2.19)	4.35	(3.57)	11.48
KLKNF	2.40	1.41	0.00	(0.71)	0.00	0.00	3.58	0.00	56.35
GBEN	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
QUAYX	1.20	(0.03)	0.00	0.06	1.61	(1.16)	2.08	(2.41)	6.54
SEGG	10.78	(0.17)	0.00	(0.18)	0.00	0.00	28.00	(16.76)	101.30
KMX	2.36	0.10	0.03	0.13	5.19	(2.25)	5.33	(3.79)	24.33

AXIL Brands 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 AXIL Brands otc stock to make a market-neutral strategy. Peer analysis of AXIL Brands could also be used in its relative valuation, which is a method of valuing AXIL Brands by comparing valuation metrics with similar companies.

Barloworld Ltd ADR Morningstar Unconstrained Allocation High Yield Municipal Fund T Rowe Price Knife River Klckner Co SE Global Resource Ener Ab Small Cap Lottery CarMax Inc American Airlines Group Alcoa Corp Apple Inc Best Buy Co Citigroup

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