Computer Modelling Correlations
| CMG Stock | CAD 4.07 0.03 0.73% |
The current 90-days correlation between Computer Modelling and TECSYS Inc is 0.05 (i.e., Significant diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Computer Modelling moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Computer Modelling Group moves in either direction, the perfectly negatively correlated security will move in the opposite direction.
Computer Modelling Correlation With Market
Very good diversification
The correlation between Computer Modelling Group and DJI is -0.44 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Computer Modelling Group and DJI in the same portfolio, assuming nothing else is changed.
Computer |
The ability to find closely correlated positions to Computer Modelling could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Computer Modelling 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 Computer Modelling - 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 Computer Modelling Group to buy it.
Moving together with Computer Stock
Moving against Computer Stock
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| 0.49 | PESO | Pesorama | PairCorr |
| 0.45 | IFA | iFabric Corp | PairCorr |
| 0.4 | SLF-PJ | Sun Life Financial | PairCorr |
| 0.38 | FFU | F4 Uranium Corp | PairCorr |
| 0.81 | NIM | Nicola Mining | PairCorr |
| 0.8 | OYL | CGX Energy | PairCorr |
| 0.79 | NAR | North Arrow Minerals | PairCorr |
| 0.68 | BPF-UN | Boston Pizza Royalties | PairCorr |
| 0.67 | HLF | High Liner Foods | PairCorr |
| 0.66 | BN-PFI | Brookfield | PairCorr |
| 0.65 | BN-PC | Brookfield | PairCorr |
| 0.64 | PML | Panoro Minerals | PairCorr |
| 0.61 | MU | Micron Technology | PairCorr |
| 0.59 | GIG | XAU Resources | 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 Computer Stock performing well and Computer Modelling 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 Computer Modelling'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| TCS | 1.74 | (0.45) | 0.00 | 74.51 | 0.00 | 2.07 | 12.66 | |||
| REAL | 2.22 | 0.09 | (0.01) | (0.06) | 2.86 | 4.73 | 25.28 | |||
| DND | 2.66 | 0.66 | 0.14 | 0.74 | 2.00 | 7.90 | 54.37 | |||
| FLT | 4.35 | 0.56 | 0.10 | 1.62 | 4.19 | 12.50 | 26.06 | |||
| BLN | 1.59 | (0.06) | 0.00 | (1.62) | 0.00 | 3.14 | 9.38 | |||
| TC | 2.44 | (0.32) | 0.00 | (0.43) | 0.00 | 5.06 | 14.65 | |||
| CVO | 2.45 | 0.10 | 0.01 | 1.70 | 3.62 | 4.57 | 21.21 | |||
| XTRA | 2.98 | (0.17) | 0.00 | (0.15) | 0.00 | 8.06 | 19.86 | |||
| WNDR | 1.71 | 0.40 | 0.06 | (0.43) | 1.79 | 3.57 | 14.14 | |||
| NCI | 2.77 | (0.11) | 0.00 | 0.17 | 0.00 | 5.00 | 15.15 |
Be your own money manager
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