EGuarantee Correlations

EGTIF Stock

USD 11.67 0.37 3.07%

The correlation of EGuarantee 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.

EGuarantee Correlation With Market

Good diversification

The correlation between eGuarantee and DJI is -0.11 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding eGuarantee and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with EGuarantee Pink Sheet

0.67	AXP	American Express	Pair Corr
0.88	COF	Capital One Financial Earnings Call This Week	Pair Corr
0.86	IX	Orix Corp Ads	Pair Corr
0.88	SYF	Synchrony Financial Earnings Call Next Week	Pair Corr
0.64	SLF	Sun Life Financial	Pair Corr
0.73	KYTX	Kyverna Therapeutics	Pair Corr
0.91	EQGPF	Equitable Group	Pair Corr
0.9	WBD	Warner Bros Discovery	Pair Corr
0.75	AXGN	Axogen Inc	Pair Corr
0.78	WSBK	Winchester Bancorp Common	Pair Corr
0.61	RKLB	Rocket Lab USA Aggressive Push	Pair Corr
0.76	ORMP	Oramed Pharmaceuticals	Pair Corr
0.75	MSLVF	Mantaro Silver Corp Earnings Call Next Week	Pair Corr
0.77	WU	Western Union	Pair Corr
0.69	ACGL	Arch Capital Group	Pair Corr
0.78	KRMD	Repro Med Systems	Pair Corr
0.71	ZURA	Zura Bio Limited	Pair Corr
0.73	GMGMF	Graphene Manufacturing Buyout Trend	Pair Corr

Moving against EGuarantee Pink Sheet

0.7	PYPL	PayPal Holdings	Pair Corr
0.54	SIGL	Signal Advance	Pair Corr
0.51	SOFI	SoFi Technologies	Pair Corr
0.36	LVRLF	CordovaCann Corp	Pair Corr
0.51	SNPW	Sun Pacific Holding	Pair Corr

Related Correlations Analysis

	IPFPF	FDCHF	FRRPF	FFMR	BPHLY	HEXEY	ECNCF	HEHSF	ZNKKY	DBIN
IPFPF		0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	IPFPF
FDCHF	0.0		0.17	0.0	0.69	0.49	0.66	0.12	-0.36	0.67	FDCHF
FRRPF	0.0	0.17		0.09	0.04	0.02	0.02	0.19	-0.2	0.14	FRRPF
FFMR	0.0	0.0	0.09		0.23	0.17	0.14	-0.15	0.13	0.06	FFMR
BPHLY	0.0	0.69	0.04	0.23		0.52	0.73	0.04	0.06	0.52	BPHLY
HEXEY	0.0	0.49	0.02	0.17	0.52		0.62	0.1	0.47	0.31	HEXEY
ECNCF	0.0	0.66	0.02	0.14	0.73	0.62		-0.08	0.21	0.43	ECNCF
HEHSF	0.0	0.12	0.19	-0.15	0.04	0.1	-0.08		-0.08	0.13	HEHSF
ZNKKY	0.0	-0.36	-0.2	0.13	0.06	0.47	0.21	-0.08		-0.16	ZNKKY
DBIN	0.0	0.67	0.14	0.06	0.52	0.31	0.43	0.13	-0.16		DBIN
	IPFPF	FDCHF	FRRPF	FFMR	BPHLY	HEXEY	ECNCF	HEHSF	ZNKKY	DBIN

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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

ECNCF	+ 0.73	BPHLY
BPHLY	+ 0.69	FDCHF
DBIN	+ 0.67	FDCHF
ECNCF	+ 0.66	FDCHF
ECNCF	+ 0.62	HEXEY
HEXEY	+ 0.52	BPHLY

High negative correlations

ZNKKY	- 0.36	FDCHF
ZNKKY	- 0.2	FRRPF
DBIN	- 0.16	ZNKKY
HEHSF	- 0.15	FFMR
ZNKKY	- 0.08	HEHSF
HEHSF	- 0.08	ECNCF

Risk-Adjusted Indicators

There is a big difference between EGuarantee Pink Sheet performing well and EGuarantee 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 EGuarantee'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
IPFPF	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
FDCHF	0.14	0.07	0.00	(0.85)	0.00	0.00	0.00	0.00	4.58
FRRPF	0.92	0.03	(0.02)	0.68	1.34	(2.07)	1.86	(3.27)	10.42
FFMR	0.49	0.02	(0.05)	(0.19)	0.72	(0.80)	0.76	(1.57)	5.57
BPHLY	2.16	0.32	0.05	(0.47)	2.64	(2.65)	4.98	(5.60)	12.74
HEXEY	0.00	(0.01)	0.00	4.50	0.00	0.00	0.00	0.00	0.07
ECNCF	0.95	0.16	0.03	(1.07)	1.15	(1.52)	1.44	(2.02)	15.92
HEHSF	1.02	0.13	0.00	(0.57)	1.92	(5.76)	4.67	(2.27)	23.01
ZNKKY	1.55	0.12	0.00	(0.06)	0.00	0.00	1.61	(4.24)	39.19
DBIN	0.87	0.06	(0.02)	(0.27)	1.27	(2.65)	2.61	(2.97)	10.21

Be your own money manager

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