Defentect Correlations
| DFTC Stock | USD 0.01 0.00 0.00% |
The current 90-days correlation between Defentect Group and Pennexx Foods is -0.05 (i.e., Good diversification). The correlation of Defentect 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.
Defentect Correlation With Market
Good diversification
The correlation between Defentect Group 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 Defentect Group and DJI in the same portfolio, assuming nothing else is changed.
Defentect |
The ability to find closely correlated positions to Defentect could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Defentect 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 Defentect - 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 Defentect Group to buy it.
Moving together with Defentect Pink Sheet
| 0.63 | PPERY | Bank Mandiri Persero | PairCorr |
| 0.8 | PBCRY | Bank Central Asia | PairCorr |
| 0.67 | TLK | Telkom Indonesia Tbk | PairCorr |
| 0.78 | KYOCF | Kyocera | PairCorr |
Moving against Defentect Pink Sheet
| 0.53 | UBER | Uber Technologies | PairCorr |
| 0.5 | SAPGF | SAP SE | PairCorr |
| 0.49 | SAP | SAP SE ADR | PairCorr |
| 0.38 | CDNS | Cadence Design Systems | PairCorr |
| 0.34 | INTU | Intuit Inc | PairCorr |
| 0.62 | PTAIF | PT Astra International | PairCorr |
| 0.52 | ONDS | Ondas Holdings Aggressive Push | PairCorr |
| 0.46 | 26442TAG2 | US26442TAG22 | PairCorr |
| 0.42 | WOLF | Wolfspeed, | PairCorr |
| 0.34 | RYSKF | Reysas Tasimacilik | PairCorr |
| 0.31 | SKYT | Skywater Technology Tech Boost | PairCorr |
| 0.37 | AVTBF | Avant Brands | 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 Defentect Pink Sheet performing well and Defentect 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 Defentect'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| PNNX | 5.08 | 0.23 | 0.01 | (1.29) | 6.56 | 22.22 | 58.02 | |||
| VCLD | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
| NEOM | 31.24 | 16.64 | 0.00 | (1.44) | 0.00 | 0.00 | 1,000.00 | |||
| WRMA | 31.85 | 11.14 | 0.24 | (1.10) | 20.59 | 135.29 | 419.77 | |||
| EHVVF | 12.70 | 1.65 | 0.08 | (1.42) | 13.13 | 35.71 | 103.03 | |||
| DVNCF | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
| CGUD | 7.57 | 1.37 | 0.07 | 0.82 | 7.61 | 28.57 | 91.27 | |||
| ANDI | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
| MANZF | 3.07 | (1.56) | 0.00 | 1.90 | 0.00 | 0.00 | 52.93 | |||
| SMME | 31.24 | 16.71 | 0.00 | (1.32) | 0.00 | 0.00 | 1,000.00 |
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