Grid Battery Correlations
| CELL Stock | 0.03 0.01 20.00% |
The current 90-days correlation between Grid Battery Metals and Strikepoint Gold is 0.2 (i.e., Modest diversification). The correlation of Grid Battery 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. If the correlation is 0, the equities are not correlated; they are entirely random.
Grid Battery Correlation With Market
Average diversification
The correlation between Grid Battery Metals and DJI is 0.14 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Grid Battery Metals and DJI in the same portfolio, assuming nothing else is changed.
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The ability to find closely correlated positions to Grid Battery could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Grid Battery 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 Grid Battery - 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 Grid Battery Metals to buy it.
Moving together with Grid Stock
Moving against Grid Stock
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| 0.85 | GOOG | Alphabet CDR | PairCorr |
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| 0.65 | BNE | Bonterra Energy Corp | PairCorr |
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| 0.49 | CGG | China Gold International | PairCorr |
| 0.46 | BAMI | Blue Ant Media | PairCorr |
| 0.45 | CN | Condor Resources | PairCorr |
| 0.32 | AMZN | Amazon CDR | PairCorr |
| 0.32 | PGDC | Patagonia Gold Corp | PairCorr |
| 0.31 | GZD | Grizzly Discoveries Earnings Call This Week | PairCorr |
| 0.82 | SAP | Saputo Inc | PairCorr |
| 0.79 | IGM | IGM Financial | PairCorr |
| 0.79 | WPK | Winpak | PairCorr |
| 0.77 | NPTH | NeuPath Health | PairCorr |
| 0.65 | VAU | Viva Gold Corp | PairCorr |
| 0.63 | GS | GOLDMAN SACHS CDR | PairCorr |
Related Correlations Analysis
| 0.14 | 0.04 | 0.21 | 0.62 | 0.55 | SKP | ||
| 0.14 | -0.08 | -0.04 | 0.07 | 0.18 | REX | ||
| 0.04 | -0.08 | 0.28 | 0.15 | -0.04 | MEK | ||
| 0.21 | -0.04 | 0.28 | 0.52 | 0.39 | VLI | ||
| 0.62 | 0.07 | 0.15 | 0.52 | 0.46 | DEC | ||
| 0.55 | 0.18 | -0.04 | 0.39 | 0.46 | GR | ||
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
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Risk-Adjusted Indicators
There is a big difference between Grid Stock performing well and Grid Battery 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 Grid Battery'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| SKP | 7.36 | 0.66 | 0.09 | 0.34 | 6.48 | 22.73 | 67.62 | |||
| REX | 4.93 | 0.16 | 0.02 | 0.21 | 5.46 | 13.04 | 32.39 | |||
| MEK | 9.83 | 1.48 | 0.06 | 0.53 | 10.26 | 33.33 | 75.00 | |||
| VLI | 7.38 | 1.19 | 0.00 | 1.41 | 0.00 | 50.00 | 83.33 | |||
| DEC | 3.58 | 0.38 | 0.00 | 1.78 | 0.00 | 25.00 | 58.33 | |||
| GR | 5.27 | (0.75) | 0.00 | (1.36) | 0.00 | 10.00 | 45.83 |
Be your own money manager
Our tools can tell you how much better you can do entering a position in Grid Battery 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.Did you try this?
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