ContraFect Correlations
The correlation of ContraFect 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.
ContraFect Correlation With Market
Pay attention - limited upside
The correlation between ContraFect and DJI is -0.77 (i.e., Pay attention - limited upside) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding ContraFect and DJI in the same portfolio, assuming nothing else is changed.
ContraFect |
The ability to find closely correlated positions to ContraFect could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace ContraFect 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 ContraFect - 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 ContraFect to buy it.
Moving together with ContraFect Pink Sheet
Moving against ContraFect Pink Sheet
| 0.88 | BA | Boeing | PairCorr |
| 0.88 | AA | Alcoa Corp | PairCorr |
| 0.87 | TSM | Taiwan Semiconductor Aggressive Push | PairCorr |
| 0.78 | MRK | Merck Company | PairCorr |
| 0.77 | DD | Dupont De Nemours | PairCorr |
| 0.76 | XOM | Exxon Mobil Corp Aggressive Push | PairCorr |
| 0.69 | JNJ | Johnson Johnson | PairCorr |
| 0.68 | GOOG | Alphabet Class C | PairCorr |
| 0.64 | HD | Home Depot | PairCorr |
| 0.59 | BMYMP | Bristol Myers Squibb | PairCorr |
| 0.56 | GE | GE Aerospace | PairCorr |
| 0.5 | PFE | Pfizer Inc Aggressive Push | PairCorr |
| 0.39 | NFG | National Fuel Gas | PairCorr |
| 0.38 | META | Meta Platforms | PairCorr |
| 0.35 | VZ | Verizon Communications Aggressive Push | PairCorr |
| 0.32 | PG | Procter Gamble | PairCorr |
Related Correlations Analysis
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 ContraFect Pink Sheet performing well and ContraFect 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 ContraFect'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| EFTR | 6.03 | 0.92 | 0.00 | 1.18 | 0.00 | 0.00 | 266.67 | |||
| OMMH | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
| ADYX | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
| DMKPQ | 26.90 | 11.16 | 0.00 | 1.04 | 0.00 | 0.00 | 990.00 | |||
| BIMI | 1,140 | 575.25 | 0.00 | 6.15 | 0.00 | 0.00 | 33,999 | |||
| MILC | 5.97 | 1.23 | 0.00 | 0.50 | 0.00 | 0.00 | 150.00 | |||
| GRPI | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
| NMTRQ | 6.00 | 2.40 | 0.00 | (0.48) | 0.00 | 0.00 | 266.67 | |||
| ONCSQ | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
ContraFect 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 ContraFect pink sheet to make a market-neutral strategy. Peer analysis of ContraFect could also be used in its relative valuation, which is a method of valuing ContraFect by comparing valuation metrics with similar companies.
| Risk & Return | Correlation |