Chineseworldnet Correlations

CWNOF Stock

USD 0.0008 0.01 92.98%

The current 90-days correlation between ChineseworldnetCom and Oracle Commodity Holding is 0.07 (i.e., Significant diversification). The correlation of Chineseworldnet 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.

Chineseworldnet Correlation With Market

Good diversification

The correlation between ChineseworldnetCom and DJI is -0.07 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding ChineseworldnetCom and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to Chineseworldnet could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Chineseworldnet 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 Chineseworldnet - 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 ChineseworldnetCom to buy it.

Moving against Chineseworldnet Pink Sheet

0.51	AIQUF	LAir Liquide SA	Pair Corr
0.4	TRP	TC Energy Corp	Pair Corr
0.35	ASX	ASE Industrial Holding	Pair Corr
0.34	BLE	BlackRock MIT II	Pair Corr
0.33	MOG-A	Moog Inc	Pair Corr
0.31	ENBP	ENB Financial Corp	Pair Corr
0.31	ITW	Illinois Tool Works	Pair Corr
0.52	OXY	Occidental Petroleum Aggressive Push	Pair Corr
0.46	HBANM	Huntington Bancshares	Pair Corr
0.37	FKKFY	Fukuoka Financial	Pair Corr
0.37	E	Eni SpA ADR Earnings Call Tomorrow	Pair Corr
0.36	TWODF	Taylor Wimpey plc Earnings Call Next Week	Pair Corr
0.36	PRTS	CarPartsCom Earnings Call Next Week	Pair Corr
0.35	DFKCY	Daifuku Co	Pair Corr
0.34	DAR	Darling Ingredients	Pair Corr
0.33	GEL	Genesis Energy LP	Pair Corr

Related Correlations Analysis

	SITS	NRCD	SHGI	ABVN	QUAN	CSTXF	SOLCF	SMEV	SSPLF	ORLCF
SITS		0.42	0.37	0.59	0.64	0.2	0.7	-0.4	-0.41	-0.58	SITS
NRCD	0.42		0.25	0.31	0.52	0.43	0.6	-0.3	-0.21	-0.28	NRCD
SHGI	0.37	0.25		0.51	0.55	0.01	0.44	-0.08	-0.39	-0.45	SHGI
ABVN	0.59	0.31	0.51		0.73	0.39	0.65	-0.66	-0.28	-0.51	ABVN
QUAN	0.64	0.52	0.55	0.73		0.43	0.79	-0.35	-0.51	-0.68	QUAN
CSTXF	0.2	0.43	0.01	0.39	0.43		0.45	-0.43	0.11	-0.18	CSTXF
SOLCF	0.7	0.6	0.44	0.65	0.79	0.45		-0.49	-0.43	-0.61	SOLCF
SMEV	-0.4	-0.3	-0.08	-0.66	-0.35	-0.43	-0.49		0.06	0.13	SMEV
SSPLF	-0.41	-0.21	-0.39	-0.28	-0.51	0.11	-0.43	0.06		0.54	SSPLF
ORLCF	-0.58	-0.28	-0.45	-0.51	-0.68	-0.18	-0.61	0.13	0.54		ORLCF
	SITS	NRCD	SHGI	ABVN	QUAN	CSTXF	SOLCF	SMEV	SSPLF	ORLCF

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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

SOLCF	+ 0.79	QUAN
QUAN	+ 0.73	ABVN
SOLCF	+ 0.7	SITS
SOLCF	+ 0.65	ABVN
QUAN	+ 0.64	SITS
SOLCF	+ 0.6	NRCD

High negative correlations

ORLCF	- 0.68	QUAN
SMEV	- 0.66	ABVN
ORLCF	- 0.61	SOLCF
ORLCF	- 0.58	SITS
SSPLF	- 0.51	QUAN
ORLCF	- 0.51	ABVN

Risk-Adjusted Indicators

There is a big difference between Chineseworldnet Pink Sheet performing well and Chineseworldnet 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 Chineseworldnet'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
SITS	6.01	(0.03)	0.00	0.56	0.00	0.00	18.75	(12.11)	36.16
NRCD	0.40	(0.18)	0.00	0.62	0.00	0.00	0.00	0.00	13.46
SHGI	9.70	1.57	0.03	(0.64)	13.35	(41.41)	30.00	(46.15)	131.87
ABVN	0.50	(0.24)	0.00	(2.85)	0.00	0.00	0.00	0.00	9.09
QUAN	7.39	(0.50)	0.00	0.29	0.00	0.00	15.92	(16.22)	40.44
CSTXF	10.40	1.59	0.04	(0.27)	12.53	(27.59)	43.90	(29.58)	114.39
SOLCF	9.25	(1.57)	0.00	(0.28)	0.00	0.00	23.50	(23.53)	66.07
SMEV	1.91	0.44	0.06	(0.67)	1.89	(8.27)	7.55	(4.29)	29.54
SSPLF	5.70	1.23	0.00	0.94	0.00	0.00	31.58	(5.87)	114.10
ORLCF	6.31	0.65	0.08	1.00	7.21	(7.89)	13.04	(13.23)	68.46

Be your own money manager

Our tools can tell you how much better you can do entering a position in Chineseworldnet 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.

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