Devolver Digital Correlations
| DEVO Stock | 23.50 0.50 2.08% |
The current 90-days correlation between Devolver Digital and GreenX Metals is 0.01 (i.e., Significant diversification). The correlation of Devolver Digital 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.
Devolver |
The ability to find closely correlated positions to Devolver Digital could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Devolver Digital 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 Devolver Digital - 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 Devolver Digital to buy it.
Moving against Devolver Stock
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| 0.72 | TBTG | Beauty Tech | PairCorr |
| 0.61 | 0QKU | Royal Bank | PairCorr |
| 0.6 | SMSD | Samsung Electronics | PairCorr |
| 0.58 | 0H6X | Telia Company | PairCorr |
| 0.56 | TIN | Cornish Metals plc | PairCorr |
| 0.5 | LGLD | LG ELECTRONICS INC | PairCorr |
| 0.46 | FOUR | 4Imprint Group Plc | PairCorr |
| 0.44 | SMSN | Samsung Electronics | PairCorr |
| 0.44 | BC94 | Samsung Electronics | PairCorr |
| 0.42 | HSBK | Halyk Bank | PairCorr |
| 0.39 | 0O5C | AT S Austria | PairCorr |
| 0.8 | ZEG | Zegona Communications Plc | PairCorr |
| 0.79 | 0R20 | Santacruz Silver Mining | PairCorr |
| 0.78 | FEML | Fidelity Emerging Markets | PairCorr |
| 0.74 | CGS | Castings PLC | PairCorr |
| 0.71 | 0NUG | Magyar Telekom Telec | PairCorr |
| 0.71 | IIG | Intuitive Investments | PairCorr |
| 0.71 | CRN | Cairn Homes PLC | PairCorr |
| 0.71 | 0DTF | Boiron SA | PairCorr |
| 0.68 | 0GUX | Skandinaviska Enskilda | PairCorr |
| 0.61 | 0M1K | Travel Leisure | PairCorr |
| 0.57 | ITV | ITV PLC | PairCorr |
| 0.54 | STJ | St Jamess Place | PairCorr |
| 0.51 | ECOR | Ecora Resources PLC | PairCorr |
| 0.51 | WG | John Wood Group | 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 Devolver Stock performing well and Devolver Digital 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 Devolver Digital'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| GRX | 1.79 | 0.47 | 0.11 | 0.82 | 1.68 | 4.19 | 16.35 | |||
| 0JDO | 2.16 | (0.14) | (0.02) | 0.01 | 2.89 | 4.62 | 13.25 | |||
| 0A2L | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
| 0R8S | 0.87 | (0.29) | 0.00 | 1.01 | 0.00 | 1.44 | 11.22 | |||
| CRTM | 1.88 | 0.70 | 0.15 | 29.17 | 1.53 | 5.26 | 12.54 | |||
| 0N7I | 1.01 | (0.04) | (0.05) | (0.01) | 1.52 | 2.16 | 8.25 | |||
| 0L8B | 2.02 | 0.45 | 0.18 | 0.78 | 2.01 | 4.54 | 8.98 | |||
| 0IN3 | 1.25 | 0.08 | 0.01 | 0.40 | 1.48 | 3.30 | 11.93 |
Be your own money manager
Our tools can tell you how much better you can do entering a position in Devolver Digital 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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