Drive Shack Correlations

DSHK Stock

10.90 0.16 1.49%

A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Drive Shack moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Drive Shack moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Drive Shack Correlation With Market

Good diversification

The correlation between Drive Shack and DJI is -0.1 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Drive Shack and DJI in the same portfolio, assuming nothing else is changed.

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

Moving against Drive Pink Sheet

0.52	SHMDF	Shimano	Pair Corr
0.46	OLCLF	Oriental Land Potential Growth	Pair Corr
0.44	LNNGF	Li Ning Company	Pair Corr
0.39	SMNNY	Shimano Inc ADR	Pair Corr
0.39	BRK-B	Berkshire Hathaway	Pair Corr
0.37	LNNGY	Li Ning	Pair Corr
0.7	ADC	Agree Realty	Pair Corr
0.68	DTE	DTE Energy	Pair Corr
0.63	SJ	Scienjoy Holding Corp	Pair Corr
0.56	CPA	Copa Holdings SA	Pair Corr
0.55	PPCLY	PPC Ltd ADR	Pair Corr
0.53	931142CH4	WALMART INC 5875	Pair Corr
0.51	ALL-PB	Allstate	Pair Corr
0.46	SOUHY	South32 ADR	Pair Corr
0.45	PHYTF	Pyrophyte Acquisition	Pair Corr
0.4	GIS	General Mills	Pair Corr
0.4	281020AW7	EIX 695 15	Pair Corr
0.4	EQR	Equity Residential	Pair Corr
0.31	FTEG	For The Earth	Pair Corr
0.6	CVX	Chevron Corp	Pair Corr
0.55	GLAPF	Glanbia plc Earnings Call This Week	Pair Corr
0.52	F-PC	Ford Motor	Pair Corr
0.5	HGKGY	Power Assets Holdings	Pair Corr
0.41	BMBOY	Grupo Bimbo SAB	Pair Corr
0.39	GIG	GigCapital7 Corp Class	Pair Corr

Related Correlations Analysis

	KENS	ELMSQ	TOYRF	HDVTY	TUGHF	RLAB	SEVCF	SRSCQ	ECXJ	NEXNF
KENS		0.52	0.0	0.0	0.96	-0.07	-0.03	0.0	0.69	-0.81	KENS
ELMSQ	0.52		0.0	0.0	0.49	-0.09	-0.09	0.0	0.37	-0.38	ELMSQ
TOYRF	0.0	0.0		1.0	0.0	0.0	0.0	1.0	0.0	0.0	TOYRF
HDVTY	0.0	0.0	1.0		0.0	0.0	0.0	1.0	0.0	0.0	HDVTY
TUGHF	0.96	0.49	0.0	0.0		-0.11	-0.04	0.0	0.78	-0.77	TUGHF
RLAB	-0.07	-0.09	0.0	0.0	-0.11		0.23	0.0	-0.29	-0.1	RLAB
SEVCF	-0.03	-0.09	0.0	0.0	-0.04	0.23		0.0	-0.49	-0.23	SEVCF
SRSCQ	0.0	0.0	1.0	1.0	0.0	0.0	0.0		0.0	0.0	SRSCQ
ECXJ	0.69	0.37	0.0	0.0	0.78	-0.29	-0.49	0.0		-0.28	ECXJ
NEXNF	-0.81	-0.38	0.0	0.0	-0.77	-0.1	-0.23	0.0	-0.28		NEXNF
	KENS	ELMSQ	TOYRF	HDVTY	TUGHF	RLAB	SEVCF	SRSCQ	ECXJ	NEXNF

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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

HDVTY	+ 1.0	TOYRF
SRSCQ	+ 1.0	TOYRF
SRSCQ	+ 1.0	HDVTY
TUGHF	+ 0.96	KENS
ECXJ	+ 0.78	TUGHF
ECXJ	+ 0.69	KENS

High negative correlations

NEXNF	- 0.81	KENS
NEXNF	- 0.77	TUGHF
ECXJ	- 0.49	SEVCF
NEXNF	- 0.38	ELMSQ
ECXJ	- 0.29	RLAB
NEXNF	- 0.28	ECXJ

Risk-Adjusted Indicators

There is a big difference between Drive Pink Sheet performing well and Drive Shack 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 Drive Shack'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
KENS	15.68	7.77	0.27	(1.58)	9.53	(40.09)	16.92	(3.09)	386.06
ELMSQ	10.83	1.68	0.09	0.79	11.19	(20.59)	30.00	(23.08)	97.50
TOYRF	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
HDVTY	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
TUGHF	0.90	0.46	0.00	(2.45)	0.00	0.00	0.00	0.00	30.28
RLAB	12.98	2.71	0.12	1.85	12.63	(27.74)	37.33	(26.19)	228.15
SEVCF	6.45	0.68	0.12	0.24	6.08	(9.60)	12.33	(11.11)	88.32
SRSCQ	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
ECXJ	0.12	0.00	0.00	0.00	0.00	0.00	0.00	0.00	3.83
NEXNF	4.09	(0.26)	0.00	(2.66)	0.00	0.00	10.00	(9.09)	34.82

Be your own money manager

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