EROAD Correlations

ERDLF Stock

USD 1.20 0.00 0.00%

The correlation of EROAD 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.

EROAD Correlation With Market

Average diversification

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

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

Moving together with EROAD Pink Sheet

0.62	ERHE	ERHC Energy	Pair Corr
0.65	ATRO	Astronics	Pair Corr
0.98	TGS	Transportadora de Gas	Pair Corr
0.84	DNGFF	Dongfang ElectricLimited	Pair Corr
0.63	SPGI	SP Global	Pair Corr
0.85	LMND	Lemonade	Pair Corr
0.71	DGWR	Critic Clothing	Pair Corr
0.87	FTI	TechnipFMC PLC	Pair Corr

Moving against EROAD Pink Sheet

0.83	ORCL	Oracle Aggressive Push	Pair Corr
0.57	MSFT	Microsoft	Pair Corr
0.55	ADYEY	Adyen NV	Pair Corr
0.49	FSTF	First State Financial	Pair Corr
0.48	SNPS	Synopsys	Pair Corr
0.41	HOOD	Robinhood Markets Aggressive Push	Pair Corr
0.4	ADBE	Adobe Systems	Pair Corr
0.58	ADVWW	Advantage Solutions	Pair Corr
0.38	ONDS	Ondas Holdings Aggressive Push	Pair Corr
0.33	PNW	Pinnacle West Capital	Pair Corr
0.61	VHAI	VHAI	Pair Corr
0.42	TATT	Tat Techno	Pair Corr

Related Correlations Analysis

	FSOYF	TCIIF	SERKF	APXYY	XTRAF	BGOPF	FCCN	SEEMF	VNWTF	FBSFF
FSOYF		1.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	FSOYF
TCIIF	1.0		0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	TCIIF
SERKF	0.0	0.0		0.61	0.56	-0.18	-0.2	-0.66	0.6	0.65	SERKF
APXYY	0.0	0.0	0.61		0.57	-0.02	-0.2	-0.54	0.44	0.68	APXYY
XTRAF	0.0	0.0	0.56	0.57		-0.2	-0.12	-0.56	0.55	0.65	XTRAF
BGOPF	0.0	0.0	-0.18	-0.02	-0.2		0.09	0.39	-0.53	-0.25	BGOPF
FCCN	0.0	0.0	-0.2	-0.2	-0.12	0.09		0.52	0.05	-0.27	FCCN
SEEMF	0.0	0.0	-0.66	-0.54	-0.56	0.39	0.52		-0.63	-0.82	SEEMF
VNWTF	0.0	0.0	0.6	0.44	0.55	-0.53	0.05	-0.63		0.74	VNWTF
FBSFF	0.0	0.0	0.65	0.68	0.65	-0.25	-0.27	-0.82	0.74		FBSFF
	FSOYF	TCIIF	SERKF	APXYY	XTRAF	BGOPF	FCCN	SEEMF	VNWTF	FBSFF

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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

TCIIF	+ 1.0	FSOYF
FBSFF	+ 0.74	VNWTF
FBSFF	+ 0.68	APXYY
FBSFF	+ 0.65	SERKF
FBSFF	+ 0.65	XTRAF
APXYY	+ 0.61	SERKF

High negative correlations

FBSFF	- 0.82	SEEMF
SEEMF	- 0.66	SERKF
VNWTF	- 0.63	SEEMF
SEEMF	- 0.56	XTRAF
SEEMF	- 0.54	APXYY
VNWTF	- 0.53	BGOPF

Risk-Adjusted Indicators

There is a big difference between EROAD Pink Sheet performing well and EROAD 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 EROAD'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
FSOYF	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
TCIIF	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
SERKF	0.54	(0.11)	0.00	(1.37)	0.00	0.00	0.00	0.00	15.20
APXYY	6.84	0.75	0.04	0.59	8.79	(18.22)	23.81	(16.67)	101.58
XTRAF	2.91	(0.18)	0.00	(0.01)	0.00	0.00	6.98	(4.44)	36.03
BGOPF	1.16	0.57	0.00	7.00	0.00	0.00	0.00	0.00	38.89
FCCN	3.24	1.25	0.36	(1.30)	2.16	(4.88)	6.48	(4.76)	46.13
SEEMF	6.01	1.28	0.11	(0.53)	5.71	(11.53)	19.62	(11.25)	44.60
VNWTF	0.82	(0.07)	0.00	(0.49)	0.00	0.00	1.78	(2.53)	11.51
FBSFF	0.21	(0.10)	0.00	(0.94)	0.00	0.00	0.00	0.00	7.98

Be your own money manager

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