Exro Technologies Correlations

EXROF Stock

USD 0.08 0 2.60%

The current 90-days correlation between Exro Technologies and Novonix Ltd ADR is 0.38 (i.e., Weak diversification). The correlation of Exro Technologies 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.

Exro Technologies Correlation With Market

Modest diversification

The correlation between Exro Technologies and DJI is 0.26 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Exro Technologies and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Exro OTC Stock

0.63	MIELF	Mitsubishi Electric Earnings Call Tomorrow	Pair Corr
0.67	ABCB	Ameris Bancorp	Pair Corr

Moving against Exro OTC Stock

0.8	TATT	Tat Techno	Pair Corr
0.65	RITM-PC	Rithm Capital Corp Earnings Call This Week	Pair Corr
0.64	NOTE	FiscalNote Holdings	Pair Corr
0.64	HZNOF	Dexterra Group	Pair Corr
0.64	SNOW	Snowflake	Pair Corr
0.63	RCAT	Red Cat Holdings	Pair Corr
0.62	KODK	Eastman Kodak Buyout Trend	Pair Corr
0.6	CIEN	Ciena Corp	Pair Corr
0.54	SATX	SatixFy Communications	Pair Corr
0.54	META	Meta Platforms Aggressive Push	Pair Corr
0.5	LDTCW	LeddarTech Holdings	Pair Corr
0.32	HIMS	Hims Hers Health Trending	Pair Corr
0.64	PDYN	Palladyne AI Corp Symbol Change	Pair Corr
0.63	DEFTF	DeFi Technologies	Pair Corr
0.58	GOOG	Alphabet Class C Earnings Call This Week	Pair Corr
0.57	VFC	VF Corporation Earnings Call This Week	Pair Corr
0.56	NFLX	Netflix	Pair Corr
0.54	LRN	Stride Inc	Pair Corr

Related Correlations Analysis

	NVX	MNSEF	ILIKF	NHHHF	NVNXF	ZAIRF	REFXF	HYEG	EOSEW
NVX		0.61	-0.52	0.24	0.96	-0.44	0.41	-0.24	-0.42	NVX
MNSEF	0.61		-0.57	0.28	0.67	-0.37	0.44	-0.28	-0.73	MNSEF
ILIKF	-0.52	-0.57		-0.01	-0.6	0.51	-0.23	0.22	0.53	ILIKF
NHHHF	0.24	0.28	-0.01		0.22	0.0	-0.05	-0.01	-0.25	NHHHF
NVNXF	0.96	0.67	-0.6	0.22		-0.47	0.42	-0.25	-0.5	NVNXF
ZAIRF	-0.44	-0.37	0.51	0.0	-0.47		-0.03	0.64	0.48	ZAIRF
REFXF	0.41	0.44	-0.23	-0.05	0.42	-0.03		0.07	-0.3	REFXF
HYEG	-0.24	-0.28	0.22	-0.01	-0.25	0.64	0.07		0.49	HYEG
EOSEW	-0.42	-0.73	0.53	-0.25	-0.5	0.48	-0.3	0.49		EOSEW
	NVX	MNSEF	ILIKF	NHHHF	NVNXF	ZAIRF	REFXF	HYEG	EOSEW

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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

NVNXF	+ 0.96	NVX
NVNXF	+ 0.67	MNSEF
HYEG	+ 0.64	ZAIRF
MNSEF	+ 0.61	NVX
EOSEW	+ 0.53	ILIKF
ZAIRF	+ 0.51	ILIKF

High negative correlations

EOSEW	- 0.73	MNSEF
NVNXF	- 0.6	ILIKF
ILIKF	- 0.57	MNSEF
ILIKF	- 0.52	NVX
EOSEW	- 0.5	NVNXF
ZAIRF	- 0.47	NVNXF

Risk-Adjusted Indicators

There is a big difference between Exro OTC Stock performing well and Exro Technologies OTC Stock 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 Exro Technologies' 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
NVX	4.19	(0.10)	(0.01)	0.00	5.58	(5.81)	6.57	(7.53)	65.77
MNSEF	6.38	(0.02)	0.00	0.02	9.33	(13.93)	19.50	(17.36)	83.33
ILIKF	4.10	0.78	0.13	0.85	3.61	(7.44)	8.70	(7.69)	25.87
NHHHF	5.51	0.72	0.00	(0.23)	0.00	0.00	17.50	(33.33)	83.33
NVNXF	5.09	(0.05)	0.00	(0.10)	0.00	0.00	11.63	(9.09)	51.42
ZAIRF	8.11	1.18	0.08	(0.38)	9.38	(11.14)	20.93	(15.58)	49.96
REFXF	73.77	35.17	0.00	(1.98)	0.00	0.00	100.00	(41.34)	1,000.00
HYEG	38.21	17.01	0.28	2.43	18.91	(114.85)	57.14	(50.00)	1,060
EOSEW	11.98	4.61	0.33	(0.94)	9.26	(17.64)	31.25	(16.24)	77.67

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Our tools can tell you how much better you can do entering a position in Exro Technologies 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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Exro Technologies Corporate Management

Elected by the shareholders, the Exro Technologies' board of directors comprises two types of representatives: Exro Technologies inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Exro. The board's role is to monitor Exro Technologies' management team and ensure that shareholders' interests are well served. Exro Technologies' inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, Exro Technologies' outside directors are responsible for providing unbiased perspectives on the board's policies.

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