Current Water Correlations

ENPRF Stock

USD 0 0.00 0.00%

The correlation of Current Water 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.

Current Water Correlation With Market

Pay attention - limited upside

The correlation between Current Water Technologies and DJI is -0.71 (i.e., Pay attention - limited upside) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Current Water Technologies and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Current Pink Sheet

0.85	HPQ	HP Inc	Pair Corr
0.64	MSFT	Microsoft	Pair Corr

Moving against Current Pink Sheet

0.74	CNL	Collective Mining	Pair Corr
0.73	PBMRF	PT Bumi Resources	Pair Corr
0.62	DTW	DTE Energy	Pair Corr
0.59	HD	Home Depot	Pair Corr
0.57	SOJE	Southern Company	Pair Corr
0.51	SOJC	Southern	Pair Corr
0.51	CMSA	CMS Energy Corp	Pair Corr
0.85	BA	Boeing	Pair Corr
0.77	DD	Dupont De Nemours Earnings Call This Week	Pair Corr
0.77	CAT	Caterpillar	Pair Corr
0.7	MRK	Merck Company Aggressive Push	Pair Corr
0.63	WMT	Walmart Common Stock Aggressive Push	Pair Corr
0.5	PFE	Pfizer Inc Aggressive Push	Pair Corr

Related Correlations Analysis

	DNDDF	EESH	PGTK	DCTIF	QWTR	CLGPF	BCCEF	DFCO	MPHYF	SNAVF
DNDDF		0.33	-0.03	0.22	-0.27	-0.32	-0.17	0.32	-0.32	-0.26	DNDDF
EESH	0.33		-0.08	-0.05	-0.22	-0.4	0.1	0.24	-0.01	-0.21	EESH
PGTK	-0.03	-0.08		0.53	0.18	0.05	-0.74	0.31	-0.83	-0.06	PGTK
DCTIF	0.22	-0.05	0.53		-0.03	0.26	-0.15	0.26	-0.59	-0.08	DCTIF
QWTR	-0.27	-0.22	0.18	-0.03		0.34	-0.16	-0.13	0.03	-0.14	QWTR
CLGPF	-0.32	-0.4	0.05	0.26	0.34		0.16	-0.49	0.06	-0.1	CLGPF
BCCEF	-0.17	0.1	-0.74	-0.15	-0.16	0.16		-0.31	0.78	0.04	BCCEF
DFCO	0.32	0.24	0.31	0.26	-0.13	-0.49	-0.31		-0.4	0.03	DFCO
MPHYF	-0.32	-0.01	-0.83	-0.59	0.03	0.06	0.78	-0.4		0.14	MPHYF
SNAVF	-0.26	-0.21	-0.06	-0.08	-0.14	-0.1	0.04	0.03	0.14		SNAVF
	DNDDF	EESH	PGTK	DCTIF	QWTR	CLGPF	BCCEF	DFCO	MPHYF	SNAVF

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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

MPHYF	+ 0.78	BCCEF
DCTIF	+ 0.53	PGTK
CLGPF	+ 0.34	QWTR
EESH	+ 0.33	DNDDF
DFCO	+ 0.32	DNDDF
DFCO	+ 0.31	PGTK

High negative correlations

MPHYF	- 0.83	PGTK
BCCEF	- 0.74	PGTK
MPHYF	- 0.59	DCTIF
DFCO	- 0.49	CLGPF
MPHYF	- 0.4	DFCO
CLGPF	- 0.4	EESH

Risk-Adjusted Indicators

There is a big difference between Current Pink Sheet performing well and Current Water 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 Current Water'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
DNDDF	0.34	(0.01)	0.00	0.04	0.00	0.00	0.00	0.00	11.11
EESH	58.70	26.05	0.00	12.72	0.00	0.00	199.50	(74.96)	787.50
PGTK	534.27	267.79	0.00	15.24	0.00	0.00	0.00	0.00	18,000
DCTIF	2.83	(0.53)	0.00	0.75	0.00	0.00	7.47	(13.21)	47.90
QWTR	6.52	1.05	0.04	(2.62)	8.99	(27.94)	33.33	(18.60)	102.90
CLGPF	1.41	(0.22)	0.00	(0.10)	0.00	0.00	0.00	0.00	48.52
BCCEF	6.42	0.39	0.02	(0.33)	7.63	(9.96)	17.79	(16.88)	45.45
DFCO	18.88	3.43	0.15	1.44	16.70	(33.06)	59.47	(35.36)	216.24
MPHYF	26.86	14.64	0.00	(1.07)	0.00	0.00	0.00	0.00	900.00
SNAVF	5.34	1.06	0.06	1.22	5.79	(30.50)	20.69	(14.81)	69.89

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