Exchange Income Correlations
| EIF Stock | CAD 93.38 0.03 0.03% |
The current 90-days correlation between Exchange Income and Secure Energy Services is -0.05 (i.e., Good diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Exchange Income moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Exchange Income moves in either direction, the perfectly negatively correlated security will move in the opposite direction.
Exchange Income Correlation With Market
Significant diversification
The correlation between Exchange Income and DJI is 0.03 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Exchange Income and DJI in the same portfolio, assuming nothing else is changed.
Exchange |
The ability to find closely correlated positions to Exchange Income could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Exchange Income 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 Exchange Income - 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 Exchange Income to buy it.
Moving together with Exchange Stock
| 0.91 | BNP | BNP Paribas CDR | PairCorr |
| 0.85 | CITI | CITIGROUP CDR | PairCorr |
| 0.89 | RY | Royal Bank | PairCorr |
| 0.91 | TD | Toronto Dominion Bank | PairCorr |
| 0.7 | ESK | Eskay Mining Corp Earnings Call This Week | PairCorr |
| 0.87 | SCD | Scandium Canada | PairCorr |
| 0.81 | TSLV | Tier One Silver | PairCorr |
| 0.81 | TUO | Teuton Resources Corp | PairCorr |
| 0.75 | DAU | Desert Gold Ventures | PairCorr |
| 0.76 | SNG | Silver Range Resources | PairCorr |
| 0.91 | BYN | Banyan Gold Corp Earnings Call Tomorrow | PairCorr |
| 0.78 | PX | Pelangio Exploration | PairCorr |
| 0.69 | VOXR | Vox Royalty Corp | PairCorr |
| 0.86 | PPTA | Perpetua Resources Corp | PairCorr |
| 0.85 | TD-PFI | Toronto Dominion Bank | PairCorr |
| 0.65 | AQN-PD | Algonquin Power Utilities | PairCorr |
| 0.88 | GSPR | GSP Resource Corp Earnings Call This Week | PairCorr |
| 0.85 | TECK-A | Teck Resources | PairCorr |
| 0.91 | GMG | Graphene Manufacturing | PairCorr |
| 0.78 | ARE | Aecon Group | PairCorr |
| 0.91 | AUXX | Gold X2 Mining | PairCorr |
| 0.84 | PGDC | Patagonia Gold Corp | PairCorr |
| 0.93 | PAAS | Pan American Silver | PairCorr |
| 0.83 | SOI | Sirios Resources | PairCorr |
| 0.67 | VENZ | Venzee Technologies | PairCorr |
| 0.93 | DBM | Doman Building Materials | PairCorr |
| 0.85 | LGC | Lavras Gold Corp | PairCorr |
| 0.75 | CNC | Canada Nickel | PairCorr |
| 0.95 | MTL | Mullen Group | PairCorr |
| 0.75 | BDI | Black Diamond Group | PairCorr |
Moving against Exchange Stock
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
|
Risk-Adjusted Indicators
There is a big difference between Exchange Stock performing well and Exchange Income 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 Exchange Income'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| SES | 1.29 | 0.01 | 0.00 | 0.04 | 0.00 | 2.85 | 8.27 | |||
| MDA | 2.53 | 0.16 | 0.03 | (5.11) | 3.58 | 5.50 | 17.12 | |||
| AC | 1.13 | 0.05 | 0.00 | 0.24 | 1.62 | 2.49 | 7.79 | |||
| ATS | 1.80 | 0.02 | 0.01 | 0.09 | 2.25 | 3.48 | 15.84 | |||
| BBU-UN | 1.79 | 0.03 | (0.01) | 0.20 | 2.60 | 4.01 | 13.70 | |||
| HPS-A | 2.56 | 0.20 | 0.05 | 0.31 | 3.07 | 4.13 | 36.77 | |||
| BDGI | 1.27 | 0.24 | 0.11 | 1.39 | 1.45 | 3.01 | 9.23 | |||
| RUS | 0.94 | 0.22 | 0.11 | 1.38 | 1.26 | 1.85 | 7.06 | |||
| CHR | 0.95 | (0.06) | 0.00 | (0.55) | 0.00 | 2.20 | 11.55 |
Be your own money manager
Our tools can tell you how much better you can do entering a position in Exchange Income 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.Did you try this?
Run Financial Widgets Now
Financial WidgetsEasily integrated Macroaxis content with over 30 different plug-and-play financial widgets |
| All Next | Launch Module |