Emera Maine Correlations
| BANGNDelisted Preferred Stock | USD 98.25 0.00 0.00% |
The current 90-days correlation between Emera Maine PFD and Drilling Tools International is 0.08 (i.e., Significant diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Emera Maine moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Emera Maine PFD moves in either direction, the perfectly negatively correlated security will move in the opposite direction.
Emera Maine Correlation With Market
Average diversification
The correlation between Emera Maine PFD and DJI is 0.18 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Emera Maine PFD and DJI in the same portfolio, assuming nothing else is changed.
Emera |
The ability to find closely correlated positions to Emera Maine could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Emera Maine 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 Emera Maine - 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 Emera Maine PFD to buy it.
Moving together with Emera Pink Sheet
| 0.65 | CVPBF | CP ALL Public | PairCorr |
| 0.94 | NMPWP | Niagara Mohawk Power | PairCorr |
| 0.7 | SCVPF | Siam Cement | PairCorr |
| 0.65 | GVA | Granite Construction | PairCorr |
| 0.68 | NVDA | NVIDIA | PairCorr |
| 0.77 | LLYVK | Liberty Media | PairCorr |
| 0.81 | EXK | Endeavour Silver Corp | PairCorr |
Moving against Emera Pink Sheet
| 0.63 | BKRKF | PT Bank Rakyat | PairCorr |
| 0.58 | PPERF | Bank Mandiri Persero | PairCorr |
| 0.5 | BKRKY | Bank Rakyat | PairCorr |
| 0.37 | PPERY | Bank Mandiri Persero | PairCorr |
| 0.31 | ELCPF | EDP Energias | PairCorr |
| 0.48 | SHG | Shinhan Financial | PairCorr |
| 0.4 | PHIL | PHI Group | 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 Emera Pink Sheet performing well and Emera Maine 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 Emera Maine'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| AMKR | 1.94 | (0.56) | 0.00 | (0.14) | 0.00 | 3.95 | 10.30 | |||
| NE | 1.84 | (0.30) | 0.00 | (0.07) | 0.00 | 3.36 | 14.22 | |||
| RDCM | 2.30 | 0.31 | 0.06 | 1.17 | 3.12 | 5.40 | 19.90 | |||
| NOW | 1.35 | 0.24 | 0.18 | 0.34 | 1.17 | 3.04 | 8.12 | |||
| DTI | 2.13 | (0.40) | 0.00 | (0.10) | 0.00 | 4.91 | 18.51 | |||
| WDC | 1.68 | (0.04) | 0.01 | 0.09 | 1.82 | 4.52 | 11.83 | |||
| SDRL | 1.91 | (0.21) | 0.00 | (0.08) | 0.00 | 3.83 | 13.44 | |||
| WNW | 2.54 | (0.12) | 0.00 | (0.05) | 0.00 | 6.25 | 29.28 |
Emera Maine 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 Emera Maine pink sheet to make a market-neutral strategy. Peer analysis of Emera Maine could also be used in its relative valuation, which is a method of valuing Emera Maine by comparing valuation metrics with similar companies.
| Risk & Return | Correlation |
Still Interested in Emera Maine PFD?
Investing in delisted pink sheets can be risky, as the pink sheet 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.