Caring Brands Correlations

CBRA Stock

0.93 0.08 7.92%

The correlation of Caring Brands 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.

Caring Brands Correlation With Market

Modest diversification

The correlation between Caring Brands and DJI is 0.2 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Caring Brands and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to Caring 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 Caring 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 Caring 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 Caring Brands to buy it.

Moving together with Caring OTC Stock

0.81	MSFT	Microsoft	Pair Corr
0.77	HD	Home Depot	Pair Corr
0.75	HPQ	HP Inc	Pair Corr

Moving against Caring OTC Stock

0.85	MRK	Merck Company	Pair Corr
0.82	CSCO	Cisco Systems	Pair Corr
0.75	GOOG	Alphabet Class C Sell-off Trend	Pair Corr
0.71	WSFS	WSFS Financial	Pair Corr
0.68	WMT	Walmart Common Stock Sell-off Trend	Pair Corr
0.67	DD	Dupont De Nemours	Pair Corr
0.62	BMYMP	Bristol Myers Squibb	Pair Corr
0.62	ATI	Allegheny Technologies	Pair Corr
0.62	ACN	Accenture plc	Pair Corr
0.61	MCD	McDonalds	Pair Corr
0.55	VZ	Verizon Communications	Pair Corr
0.51	CAT	Caterpillar	Pair Corr
0.5	F	Ford Motor	Pair Corr
0.5	BAC	Bank of America	Pair Corr
0.43	AAPL	Apple Inc	Pair Corr
0.41	AXP	American Express	Pair Corr
0.35	JPM	JPMorgan Chase	Pair Corr

Related Correlations Analysis

	PCNEF	ATGGF	PLNH	MEDXF	SNANF	MDXHF	NICXF	ETST	DBCCF	CLTEF
PCNEF		0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	PCNEF
ATGGF	0.0		-0.05	-0.09	-0.81	0.25	0.0	-0.58	-0.74	0.15	ATGGF
PLNH	0.0	-0.05		0.09	-0.05	-0.01	0.0	0.09	0.03	0.27	PLNH
MEDXF	0.0	-0.09	0.09		0.02	0.47	0.0	-0.09	-0.1	-0.3	MEDXF
SNANF	0.0	-0.81	-0.05	0.02		-0.12	0.0	0.57	0.7	-0.14	SNANF
MDXHF	0.0	0.25	-0.01	0.47	-0.12		0.0	-0.14	-0.34	-0.32	MDXHF
NICXF	0.0	0.0	0.0	0.0	0.0	0.0		0.0	0.0	0.0	NICXF
ETST	0.0	-0.58	0.09	-0.09	0.57	-0.14	0.0		0.43	0.11	ETST
DBCCF	0.0	-0.74	0.03	-0.1	0.7	-0.34	0.0	0.43		-0.05	DBCCF
CLTEF	0.0	0.15	0.27	-0.3	-0.14	-0.32	0.0	0.11	-0.05		CLTEF
	PCNEF	ATGGF	PLNH	MEDXF	SNANF	MDXHF	NICXF	ETST	DBCCF	CLTEF

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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

DBCCF	+ 0.7	SNANF
ETST	+ 0.57	SNANF
MDXHF	+ 0.47	MEDXF
DBCCF	+ 0.43	ETST
CLTEF	+ 0.27	PLNH
MDXHF	+ 0.25	ATGGF

High negative correlations

SNANF	- 0.81	ATGGF
DBCCF	- 0.74	ATGGF
ETST	- 0.58	ATGGF
DBCCF	- 0.34	MDXHF
CLTEF	- 0.32	MDXHF
CLTEF	- 0.3	MEDXF

Risk-Adjusted Indicators

There is a big difference between Caring OTC Stock performing well and Caring 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 Caring 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
PCNEF	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
ATGGF	1.87	1.02	0.00	(1.27)	0.00	0.00	0.00	0.00	60.00
PLNH	5.86	0.47	0.02	(0.24)	7.52	(11.68)	14.29	(10.53)	96.25
MEDXF	2.11	0.13	(0.01)	(0.23)	2.39	(2.57)	5.45	(4.50)	13.78
SNANF	4.14	(0.01)	(0.01)	0.08	5.58	(5.62)	9.09	(11.43)	43.05
MDXHF	5.62	2.71	0.00	1.74	0.00	0.00	0.00	0.00	172.73
NICXF	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
ETST	5.00	0.29	0.02	0.51	5.82	(11.46)	7.69	(12.50)	70.83
DBCCF	2.67	(0.19)	0.00	0.56	0.00	0.00	4.98	(5.51)	19.50
CLTEF	66.92	26.01	0.74	0.91	22.53	(189.90)	96.43	(57.14)	1,057

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

Precision System Science Actinogen Medical Limited Planet 13 Holdings Medexus Pharmaceuticals Sona Nanotech MedX Health Corp Nicox SA Earth Science Tech Decibel Cannabis Calliditas Therapeutics AB American Airlines Group Alcoa Corp Apple Inc Best Buy Co Citigroup

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