Balance Labs Correlations

BLNC Stock

USD 1.55 0.00 0.00%

The correlation of Balance Labs 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.

Balance Labs Correlation With Market

Significant diversification

The correlation between Balance Labs and DJI is 0.08 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Balance Labs and DJI in the same portfolio, assuming nothing else is changed.

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

Moving against Balance Pink Sheet

0.54	PPERY	Bank Mandiri Persero	Pair Corr
0.46	PBCRY	Bank Central Asia	Pair Corr
0.45	PTBRY	Bank Negara Indonesia	Pair Corr
0.39	JPSTF	JAPAN POST BANK	Pair Corr
0.31	MBFJF	Mitsubishi UFJ Financial Normal Trading	Pair Corr
0.55	FTI	TechnipFMC PLC Sell-off Trend	Pair Corr
0.5	LMND	Lemonade	Pair Corr
0.49	TGI	Triumph Group	Pair Corr
0.45	PFE	Pfizer Inc	Pair Corr
0.42	BHC	Bausch Health Companies	Pair Corr
0.42	TGS	Transportadora de Gas	Pair Corr
0.39	TPB	Turning Point Brands	Pair Corr
0.35	DGWR	Critic Clothing	Pair Corr
0.34	MZHOF	Mizuho Financial	Pair Corr
0.33	OODH	Orion Diversified Holding	Pair Corr
0.45	AER	AerCap Holdings NV	Pair Corr
0.43	UTRS	Minerva Surgical	Pair Corr
0.42	NAUT	Nautilus Biotechnology	Pair Corr
0.38	FEMY	Femasys	Pair Corr

Related Correlations Analysis

	KMNCF	YJGJ	VIAAY	ECLMF	SECUF	ROOOF	APEUF	JANL	AQUEF	GNOLF
KMNCF		-0.12	0.0	0.13	0.23	0.48	0.23	-0.58	0.31	0.32	KMNCF
YJGJ	-0.12		0.0	0.27	-0.3	-0.26	-0.54	-0.26	-0.4	-0.47	YJGJ
VIAAY	0.0	0.0		0.0	0.0	0.0	0.0	0.0	0.0	0.0	VIAAY
ECLMF	0.13	0.27	0.0		0.07	0.56	0.44	0.28	0.65	0.52	ECLMF
SECUF	0.23	-0.3	0.0	0.07		0.52	0.46	-0.07	0.38	0.44	SECUF
ROOOF	0.48	-0.26	0.0	0.56	0.52		0.79	0.11	0.81	0.82	ROOOF
APEUF	0.23	-0.54	0.0	0.44	0.46	0.79		0.39	0.87	0.92	APEUF
JANL	-0.58	-0.26	0.0	0.28	-0.07	0.11	0.39		0.37	0.33	JANL
AQUEF	0.31	-0.4	0.0	0.65	0.38	0.81	0.87	0.37		0.93	AQUEF
GNOLF	0.32	-0.47	0.0	0.52	0.44	0.82	0.92	0.33	0.93		GNOLF
	KMNCF	YJGJ	VIAAY	ECLMF	SECUF	ROOOF	APEUF	JANL	AQUEF	GNOLF

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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

GNOLF	+ 0.93	AQUEF
GNOLF	+ 0.92	APEUF
AQUEF	+ 0.87	APEUF
GNOLF	+ 0.82	ROOOF
AQUEF	+ 0.81	ROOOF
APEUF	+ 0.79	ROOOF

High negative correlations

JANL	- 0.58	KMNCF
APEUF	- 0.54	YJGJ
GNOLF	- 0.47	YJGJ
AQUEF	- 0.4	YJGJ
SECUF	- 0.3	YJGJ
JANL	- 0.26	YJGJ

Risk-Adjusted Indicators

There is a big difference between Balance Pink Sheet performing well and Balance Labs 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 Balance Labs' 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	Treynor Ratio	Potential Upside	Value @Risk	Maximum Drawdown
KMNCF	0.31	(0.18)	(0.94)	0.00	0.00	10.26
YJGJ	15.04	7.49	(0.90)	0.00	0.00	299.89
VIAAY	0.00	0.00	0.00	0.00	0.00	0.00
ECLMF	0.95	0.17	2.98	0.00	0.00	35.38
SECUF	0.79	(0.10)	1.14	2.22	(2.58)	10.80
ROOOF	3.24	(0.33)	(0.25)	5.88	(5.26)	28.71
APEUF	1.90	(0.35)	1.92	4.35	(5.56)	15.76
JANL	0.86	0.20	(1.07)	0.00	0.00	17.65
AQUEF	0.30	(0.18)	(0.56)	0.00	0.00	10.00
GNOLF	1.34	(0.66)	0.93	0.00	0.00	33.11

Be your own money manager

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