Covalon Technologies Correlations
| CVALF Stock | USD 2.53 0.14 5.24% |
The current 90-days correlation between Covalon Technologies and Biotron Limited is -0.11 (i.e., Good diversification). The correlation of Covalon Technologies 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.
Covalon Technologies Correlation With Market
Average diversification
The correlation between Covalon Technologies and DJI is 0.11 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Covalon Technologies and DJI in the same portfolio, assuming nothing else is changed.
Covalon |
The ability to find closely correlated positions to Covalon Technologies could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Covalon Technologies 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 Covalon Technologies - 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 Covalon Technologies to buy it.
Moving together with Covalon OTC Stock
| 0.78 | CVX | Chevron Corp Fiscal Year End 7th of February 2025 | PairCorr |
| 0.68 | JPM | JPMorgan Chase Sell-off Trend | PairCorr |
| 0.61 | CSCO | Cisco Systems Aggressive Push | PairCorr |
| 0.75 | BAC | Bank of America Aggressive Push | PairCorr |
| 0.69 | WMT | Walmart Aggressive Push | PairCorr |
| 0.73 | AXP | American Express Fiscal Year End 24th of January 2025 | PairCorr |
| 0.64 | AA | Alcoa Corp Fiscal Year End 15th of January 2025 | PairCorr |
Moving against Covalon OTC Stock
| 0.84 | JNJ | Johnson Johnson Sell-off Trend | PairCorr |
| 0.83 | PFE | Pfizer Inc Aggressive Push | PairCorr |
| 0.82 | TCHH | Trustcash Holdings | PairCorr |
| 0.71 | TLK | Telkom Indonesia Tbk | PairCorr |
| 0.67 | MRK | Merck Company Fiscal Year End 6th of February 2025 | PairCorr |
| 0.65 | BA | Boeing Fiscal Year End 29th of January 2025 | PairCorr |
| 0.62 | HYMTF | Hyundai Motor | PairCorr |
| 0.49 | SHG | Shinhan Financial | PairCorr |
| 0.43 | EC | Ecopetrol SA ADR | PairCorr |
| 0.34 | WF | Woori Financial Group | PairCorr |
Related Correlations Analysis
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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
| High negative correlations
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Risk-Adjusted Indicators
There is a big difference between Covalon OTC Stock performing well and Covalon Technologies 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 Covalon Technologies' 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| BITRF | 3.09 | (0.70) | 0.00 | 0.44 | 0.00 | 1.34 | 62.53 | |||
| BIOAF | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
| CPMV | 6.66 | 0.82 | 0.04 | 1.84 | 9.11 | 25.71 | 81.86 | |||
| CRPOF | 123.42 | 63.51 | 8.56 | (6.60) | 0.00 | 10.53 | 4,159 | |||
| CMVLF | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
| RVXCF | 3.84 | (0.28) | 0.00 | (0.20) | 0.00 | 25.00 | 50.00 | |||
| DMTTF | 5.51 | 0.17 | (0.01) | (0.02) | 7.43 | 11.80 | 56.62 | |||
| APTCF | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
| CHNXF | 3.23 | (0.73) | 0.00 | 40.27 | 0.00 | 0.00 | 109.39 |
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Covalon Technologies Corporate Management
Elected by the shareholders, the Covalon Technologies' board of directors comprises two types of representatives: Covalon Technologies inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Covalon. The board's role is to monitor Covalon Technologies' management team and ensure that shareholders' interests are well served. Covalon Technologies' inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, Covalon Technologies' outside directors are responsible for providing unbiased perspectives on the board's policies.
| Simon Smith | Chief Ltd | Profile | |
| Ron Hebert | VP Marketing | Profile | |
| Greg Leszczynski | VP HR | Profile | |
| Hamed Abbasian | VP Devel | Profile | |
| Gerry Arambula | Pres Ltd | Profile |