Basanite Correlations

BASA Stock

USD 0.04 0.01 37.93%

The current 90-days correlation between Basanite and CEMATRIX is 0.03 (i.e., Significant diversification). The correlation of Basanite 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.

Basanite Correlation With Market

Good diversification

The correlation between Basanite and DJI is -0.07 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Basanite and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Basanite OTC Stock

0.87	AHCHY	Anhui Conch Cement	Pair Corr
0.86	AHCHF	Anhui Conch Cement	Pair Corr
0.64	NVDA	NVIDIA	Pair Corr
0.84	META	Meta Platforms	Pair Corr

Moving against Basanite OTC Stock

0.55	EATBF	Eat Beyond Global	Pair Corr
0.58	AMIX	Autonomix Medical, Common	Pair Corr

Related Correlations Analysis

	XYIGF	CTXXF	AHCHY	CXMSF	CBUMY	AHCHF	BZZUY	WBRBY	HCMLY	SUM
XYIGF		-0.6	0.53	-0.46	0.62	0.57	0.31	-0.79	0.51	0.67	XYIGF
CTXXF	-0.6		-0.81	0.3	-0.8	-0.81	-0.4	0.53	-0.55	-0.46	CTXXF
AHCHY	0.53	-0.81		-0.2	0.95	0.95	0.23	-0.47	0.48	0.4	AHCHY
CXMSF	-0.46	0.3	-0.2		-0.34	-0.14	-0.3	0.57	-0.36	-0.62	CXMSF
CBUMY	0.62	-0.8	0.95	-0.34		0.9	0.36	-0.61	0.54	0.55	CBUMY
AHCHF	0.57	-0.81	0.95	-0.14	0.9		0.17	-0.47	0.4	0.31	AHCHF
BZZUY	0.31	-0.4	0.23	-0.3	0.36	0.17		-0.35	0.76	0.68	BZZUY
WBRBY	-0.79	0.53	-0.47	0.57	-0.61	-0.47	-0.35		-0.35	-0.61	WBRBY
HCMLY	0.51	-0.55	0.48	-0.36	0.54	0.4	0.76	-0.35		0.82	HCMLY
SUM	0.67	-0.46	0.4	-0.62	0.55	0.31	0.68	-0.61	0.82		SUM
	XYIGF	CTXXF	AHCHY	CXMSF	CBUMY	AHCHF	BZZUY	WBRBY	HCMLY	SUM

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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

CBUMY	+ 0.95	AHCHY
AHCHF	+ 0.95	AHCHY
AHCHF	+ 0.9	CBUMY
SUM	+ 0.82	HCMLY
HCMLY	+ 0.76	BZZUY
SUM	+ 0.68	BZZUY

High negative correlations

AHCHF	- 0.81	CTXXF
AHCHY	- 0.81	CTXXF
CBUMY	- 0.8	CTXXF
WBRBY	- 0.79	XYIGF
SUM	- 0.62	CXMSF
SUM	- 0.61	WBRBY

Risk-Adjusted Indicators

There is a big difference between Basanite OTC Stock performing well and Basanite 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 Basanite'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
XYIGF	1.41	0.35	0.00	0.51	0.00	0.00	1.85	(1.85)	43.86
CTXXF	3.20	(0.08)	0.00	0.78	0.00	0.00	10.53	(9.52)	39.02
AHCHY	2.55	0.33	0.07	1.67	3.08	(2.90)	5.94	(4.19)	22.18
CXMSF	2.34	(0.27)	0.00	(1.75)	0.00	0.00	6.78	(7.94)	19.40
CBUMY	3.17	0.73	0.10	9.84	3.67	(5.25)	9.50	(7.19)	43.17
AHCHF	3.55	0.47	0.04	(0.90)	4.32	(4.75)	8.96	(8.22)	28.42
BZZUY	1.23	0.04	0.04	0.15	1.10	(2.12)	3.19	(2.38)	11.35
WBRBY	2.45	(0.25)	0.00	(1.08)	0.00	0.00	4.71	(5.27)	13.45
HCMLY	0.85	0.04	(0.01)	0.18	0.93	(0.92)	1.86	(1.71)	6.48
SUM	1.71	0.23	0.14	0.26	1.74	(1.92)	4.18	(2.73)	9.88

Be your own money manager

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