FAR Correlations

FARYF Stock

USD 0.37 0.07 23.33%

The current 90-days correlation between FAR Limited and ENEOS Holdings is -0.09 (i.e., Good diversification). The correlation of FAR 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.

FAR Correlation With Market

Very poor diversification

The correlation between FAR Limited and DJI is 0.83 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding FAR Limited and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with FAR Pink Sheet

0.78	COP	ConocoPhillips	Pair Corr
0.62	CNQ	Canadian Natural Res Earnings Call Tomorrow	Pair Corr
0.62	OXY	Occidental Petroleum Aggressive Push	Pair Corr
0.75	HES	Hess	Pair Corr
0.64	UEC	Uranium Energy Corp	Pair Corr
0.88	ALEEF	Alerio Gold Corp	Pair Corr
0.8	ASX	ASE Industrial Holding	Pair Corr
0.83	GAM	General American Inv	Pair Corr
0.67	MBINN	Merchants Bancorp	Pair Corr
0.86	PDER	Pardee Resources	Pair Corr
0.66	ASHTF	Ashtead Group plc	Pair Corr
0.84	MOG-A	Moog Inc	Pair Corr
0.74	DAR	Darling Ingredients	Pair Corr
0.64	FKKFY	Fukuoka Financial	Pair Corr
0.65	HBANM	Huntington Bancshares	Pair Corr
0.87	WZZZY	Wizz Air Holdings	Pair Corr
0.73	BHB	Bar Harbor Bankshares	Pair Corr
0.67	CIG	Companhia Energetica	Pair Corr
0.79	CMTV	Community Bancorp Common	Pair Corr
0.62	LONKF	Lonking Holdings	Pair Corr
0.67	ITW	Illinois Tool Works	Pair Corr
0.79	DOV	Dover	Pair Corr

Moving against FAR Pink Sheet

0.75	PBCRF	PT Bank Central	Pair Corr
0.35	RADLF	Radial Research Corp	Pair Corr
0.34	CMWCF	Cromwell Property Earnings Call Tomorrow	Pair Corr
0.65	TTCM	Tautachrome	Pair Corr

Related Correlations Analysis

	TRMLF	IPXHY	OMVJF	YZCAY	TNRSF	SSLZY	STOSF	JXHGF
TRMLF		0.46	0.33	0.29	0.61	0.43	0.44	0.25	TRMLF
IPXHY	0.46		0.85	0.87	0.76	0.66	0.76	0.69	IPXHY
OMVJF	0.33	0.85		0.79	0.71	0.55	0.73	0.58	OMVJF
YZCAY	0.29	0.87	0.79		0.77	0.72	0.68	0.8	YZCAY
TNRSF	0.61	0.76	0.71	0.77		0.78	0.66	0.77	TNRSF
SSLZY	0.43	0.66	0.55	0.72	0.78		0.76	0.9	SSLZY
STOSF	0.44	0.76	0.73	0.68	0.66	0.76		0.71	STOSF
JXHGF	0.25	0.69	0.58	0.8	0.77	0.9	0.71		JXHGF
	TRMLF	IPXHY	OMVJF	YZCAY	TNRSF	SSLZY	STOSF	JXHGF

Risk-Adjusted Indicators

There is a big difference between FAR Pink Sheet performing well and FAR 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 FAR'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
TRMLF	1.19	0.06	(0.03)	(3.62)	1.37	(1.38)	2.74	(2.22)	8.46
IPXHY	1.52	0.33	0.09	(1.80)	2.01	(1.58)	3.48	(2.64)	11.66
OMVJF	0.38	0.17	0.00	(2.08)	0.00	0.00	0.49	0.00	8.09
YZCAY	1.83	0.28	0.05	(0.71)	2.06	(2.41)	4.93	(3.77)	10.04
TNRSF	0.52	0.05	0.00	0.18	0.00	0.00	0.00	0.00	12.23
SSLZY	1.54	0.25	0.09	0.85	1.73	(1.73)	3.45	(3.04)	10.20
STOSF	3.52	0.26	0.02	(0.34)	4.83	(3.80)	7.67	(9.09)	37.09
JXHGF	0.93	0.44	0.00	0.94	0.00	0.00	0.89	0.00	14.37

Be your own money manager

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