ADF Correlations

DRX Stock

CAD 9.39 0.09 0.95%

The current 90-days correlation between ADF Group and Firan Technology Group is 0.05 (i.e., Significant diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as ADF moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if ADF Group moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

ADF Correlation With Market

Very poor diversification

The correlation between ADF Group and DJI is 0.81 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding ADF Group and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with ADF Stock

0.82	LIRC	Lithium Royalty Corp	Pair Corr
0.81	GIL	Gildan Activewear	Pair Corr
0.67	DR	Medical Facilities	Pair Corr
0.64	WAST	Waste Management,	Pair Corr
0.86	PJX	PJX Resources	Pair Corr
0.75	GPCC-P	Green Panda Capital	Pair Corr
0.73	LEXI	Lithium Energi Explo	Pair Corr
0.77	DNG	Dynacor Gold Mines	Pair Corr
0.66	HSTR	Heliostar Metals	Pair Corr
0.81	BCE-PT	Bce Inc Pref	Pair Corr
0.65	CYBN	Cybin Inc	Pair Corr
0.82	INO-UN	Inovalis Real Estate	Pair Corr
0.82	AUUA	Aluula Composites Earnings Call This Week	Pair Corr
0.66	GMG	Graphene Manufacturing	Pair Corr

Moving against ADF Stock

0.69	CSTR	CryptoStar Corp	Pair Corr
0.33	MTLO	Martello Technologies Earnings Call This Week	Pair Corr

Related Correlations Analysis

	FTG	GRID	HMM-A	DE	DRT	GSI	CYM	VLN	IB
FTG		0.84	-0.87	0.02	-0.79	-0.81	-0.13	-0.71	0.38	FTG
GRID	0.84		-0.85	-0.01	-0.77	-0.77	-0.02	-0.47	0.48	GRID
HMM-A	-0.87	-0.85		0.1	0.71	0.81	0.26	0.53	-0.24	HMM-A
DE	0.02	-0.01	0.1		0.13	0.4	-0.08	-0.24	0.32	DE
DRT	-0.79	-0.77	0.71	0.13		0.83	-0.1	0.43	-0.54	DRT
GSI	-0.81	-0.77	0.81	0.4	0.83		0.04	0.4	-0.26	GSI
CYM	-0.13	-0.02	0.26	-0.08	-0.1	0.04		0.4	0.36	CYM
VLN	-0.71	-0.47	0.53	-0.24	0.43	0.4	0.4		-0.16	VLN
IB	0.38	0.48	-0.24	0.32	-0.54	-0.26	0.36	-0.16		IB
	FTG	GRID	HMM-A	DE	DRT	GSI	CYM	VLN	IB

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

GRID	+ 0.84	FTG
GSI	+ 0.83	DRT
GSI	+ 0.81	HMM-A
DRT	+ 0.71	HMM-A
VLN	+ 0.53	HMM-A
IB	+ 0.48	GRID

High negative correlations

HMM-A	- 0.87	FTG
HMM-A	- 0.85	GRID
GSI	- 0.81	FTG
DRT	- 0.79	FTG
GSI	- 0.77	GRID
DRT	- 0.77	GRID

Risk-Adjusted Indicators

There is a big difference between ADF Stock performing well and ADF 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 ADF'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
FTG	1.91	0.54	0.22	1.96	1.84	(2.27)	4.71	(2.88)	16.45
GRID	2.83	0.35	0.08	1.85	3.76	(2.76)	5.88	(5.80)	13.40
HMM-A	1.25	(0.18)	0.00	(0.66)	0.00	0.00	3.17	(3.26)	11.38
DE	0.96	(0.09)	0.00	(3.37)	0.00	0.00	1.97	(2.23)	7.65
DRT	1.91	(0.25)	0.00	(1.03)	0.00	0.00	4.12	(4.26)	17.43
GSI	2.39	(0.63)	0.00	(10.32)	0.00	0.00	5.42	(4.89)	13.93
CYM	4.58	(0.14)	0.00	(0.10)	0.00	0.00	9.09	(10.00)	33.33
VLN	1.66	(0.09)	0.00	(0.54)	0.00	0.00	2.83	(2.85)	24.47
IB	4.71	0.20	0.01	(0.07)	6.12	(7.52)	11.11	(10.53)	38.52

Be your own money manager

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