Strainsforpains Correlations

EBYH Stock

USD 0.23 0.00 0.00%

The current 90-days correlation between Strainsforpains and Tabula Rasa HealthCare is -0.02 (i.e., Good diversification). The correlation of Strainsforpains 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.

Strainsforpains Correlation With Market

Good diversification

The correlation between Strainsforpains and DJI is -0.12 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Strainsforpains and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Strainsforpains Pink Sheet

0.65

Coca Cola Aggressive Push

Pair Corr

Moving against Strainsforpains Pink Sheet

0.55	CSCO	Cisco Systems Sell-off Trend	Pair Corr
0.52	BAC	Bank of America Aggressive Push	Pair Corr
0.51	T	ATT Inc Fiscal Year End 22nd of January 2025	Pair Corr
0.5	TRV	The Travelers Companies Fiscal Year End 17th of January 2025	Pair Corr
0.48	WMT	Walmart Aggressive Push	Pair Corr
0.47	JPM	JPMorgan Chase Sell-off Trend	Pair Corr
0.46	AXP	American Express Fiscal Year End 24th of January 2025	Pair Corr
0.46	CVX	Chevron Corp Sell-off Trend	Pair Corr
0.46	AA	Alcoa Corp Fiscal Year End 15th of January 2025	Pair Corr

Related Correlations Analysis

	TRHC	CERT	OPRX	NRC	OMCL	SDGR	VEEV	DOCS	AMWL	GEHC
TRHC		-0.59	-0.88	-0.57	0.39	0.19	0.5	0.74	-0.15	-0.55	TRHC
CERT	-0.59		0.7	0.55	-0.1	0.16	-0.03	-0.36	0.05	0.26	CERT
OPRX	-0.88	0.7		0.8	-0.24	0.04	-0.27	-0.61	0.14	0.52	OPRX
NRC	-0.57	0.55	0.8		-0.02	0.41	-0.01	-0.35	-0.17	0.19	NRC
OMCL	0.39	-0.1	-0.24	-0.02		0.29	0.42	0.33	-0.32	-0.4	OMCL
SDGR	0.19	0.16	0.04	0.41	0.29		0.61	0.15	-0.48	-0.63	SDGR
VEEV	0.5	-0.03	-0.27	-0.01	0.42	0.61		0.51	-0.19	-0.48	VEEV
DOCS	0.74	-0.36	-0.61	-0.35	0.33	0.15	0.51		-0.02	-0.35	DOCS
AMWL	-0.15	0.05	0.14	-0.17	-0.32	-0.48	-0.19	-0.02		0.69	AMWL
GEHC	-0.55	0.26	0.52	0.19	-0.4	-0.63	-0.48	-0.35	0.69		GEHC
	TRHC	CERT	OPRX	NRC	OMCL	SDGR	VEEV	DOCS	AMWL	GEHC

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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

NRC	+ 0.8	OPRX
DOCS	+ 0.74	TRHC
OPRX	+ 0.7	CERT
GEHC	+ 0.69	AMWL
VEEV	+ 0.61	SDGR
NRC	+ 0.55	CERT

High negative correlations

OPRX	- 0.88	TRHC
GEHC	- 0.63	SDGR
DOCS	- 0.61	OPRX
CERT	- 0.59	TRHC
NRC	- 0.57	TRHC
GEHC	- 0.55	TRHC

Risk-Adjusted Indicators

There is a big difference between Strainsforpains Pink Sheet performing well and Strainsforpains 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 Strainsforpains' 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
TRHC	2.76	0.71	0.19	34.01	2.59	(3.14)	7.81	(4.61)	14.89
CERT	1.93	(0.38)	0.00	(0.07)	0.00	0.00	5.82	(3.98)	15.96
OPRX	4.10	(0.84)	0.00	(0.11)	0.00	0.00	8.33	(7.60)	53.75
NRC	1.97	(0.37)	0.00	(0.08)	0.00	0.00	3.79	(4.72)	13.17
OMCL	2.40	0.00	0.00	0.13	2.60	(2.86)	5.42	(4.42)	40.54
SDGR	2.49	0.00	0.02	0.13	3.14	(2.55)	6.04	(4.75)	22.85
VEEV	1.32	0.07	0.05	0.19	1.50	(1.62)	3.49	(1.79)	15.98
DOCS	2.32	0.51	0.19	0.56	2.25	(2.60)	5.15	(3.81)	43.10
AMWL	2.54	0.13	0.07	0.20	3.08	(2.75)	5.91	(5.38)	18.59
GEHC	1.01	(0.03)	0.00	(0.11)	0.00	0.00	2.26	(2.52)	6.66

Be your own money manager

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