Freelancer Correlations

FLNCF Stock

USD 0.12 0.07 36.84%

The current 90-days correlation between Freelancer Limited and Norse Atlantic ASA is 0.02 (i.e., Significant diversification). The correlation of Freelancer 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.

Freelancer Correlation With Market

Good diversification

The correlation between Freelancer Limited and DJI is -0.2 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Freelancer Limited and DJI in the same portfolio, assuming nothing else is changed.

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

Moving against Freelancer Pink Sheet

0.69	RBA	RB Global	Pair Corr
0.56	CTAS	Cintas	Pair Corr
0.54	GPN	Global Payments	Pair Corr
0.5	MUFG	Mitsubishi UFJ Financial	Pair Corr
0.46	MBFJF	Mitsubishi UFJ Financial Normal Trading	Pair Corr
0.44	TLPFF	Teleperformance SE Downward Rally	Pair Corr
0.39	TLPFY	Teleperformance PK	Pair Corr
0.33	SDXAY	Sodexo PK	Pair Corr
0.61	DC	Dakota Gold Corp	Pair Corr
0.51	RCRUY	Recruit Holdings	Pair Corr
0.49	TATT	Tat Techno	Pair Corr
0.32	TORO	Toro	Pair Corr

Related Correlations Analysis

	NRSAF	DIALF	ZUUS	DIGTF	AMROF	ICTSF	SLOFF	BYYLF	ADFJF	QEPC
NRSAF		-0.52	0.53	0.49	-0.06	0.39	-0.44	0.31	-0.59	0.16	NRSAF
DIALF	-0.52		-0.61	-0.56	-0.33	-0.62	0.6	0.07	0.56	-0.22	DIALF
ZUUS	0.53	-0.61		0.92	0.5	0.77	-0.88	-0.25	-0.45	0.55	ZUUS
DIGTF	0.49	-0.56	0.92		0.43	0.71	-0.84	-0.23	-0.49	0.57	DIGTF
AMROF	-0.06	-0.33	0.5	0.43		0.58	-0.47	-0.59	0.23	0.42	AMROF
ICTSF	0.39	-0.62	0.77	0.71	0.58		-0.76	-0.11	-0.39	0.57	ICTSF
SLOFF	-0.44	0.6	-0.88	-0.84	-0.47	-0.76		0.07	0.42	-0.61	SLOFF
BYYLF	0.31	0.07	-0.25	-0.23	-0.59	-0.11	0.07		-0.41	-0.17	BYYLF
ADFJF	-0.59	0.56	-0.45	-0.49	0.23	-0.39	0.42	-0.41		-0.15	ADFJF
QEPC	0.16	-0.22	0.55	0.57	0.42	0.57	-0.61	-0.17	-0.15		QEPC
	NRSAF	DIALF	ZUUS	DIGTF	AMROF	ICTSF	SLOFF	BYYLF	ADFJF	QEPC

Please upgrade your account to get full access to Macroaxis premium features

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

DIGTF	+ 0.92	ZUUS
ICTSF	+ 0.77	ZUUS
ICTSF	+ 0.71	DIGTF
SLOFF	+ 0.6	DIALF
ICTSF	+ 0.58	AMROF
QEPC	+ 0.57	DIGTF

High negative correlations

SLOFF	- 0.88	ZUUS
SLOFF	- 0.84	DIGTF
SLOFF	- 0.76	ICTSF
ICTSF	- 0.62	DIALF
QEPC	- 0.61	SLOFF
ZUUS	- 0.61	DIALF

Risk-Adjusted Indicators

There is a big difference between Freelancer Pink Sheet performing well and Freelancer 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 Freelancer'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
NRSAF	1.80	(0.44)	0.00	(0.46)	0.00	0.00	2.70	(7.06)	31.60
DIALF	1.33	0.49	0.00	1.27	0.00	0.00	0.00	0.00	24.59
ZUUS	0.06	(0.04)	0.00	1.54	0.00	0.00	0.00	0.00	1.00
DIGTF	1.73	(0.80)	0.00	0.91	0.00	0.00	0.00	0.00	58.12
AMROF	5.68	(0.11)	0.00	0.24	0.00	0.00	13.33	(11.76)	63.81
ICTSF	1.11	(0.23)	0.00	(0.43)	0.00	0.00	2.56	(6.75)	21.09
SLOFF	0.61	0.31	0.00	(2.49)	0.00	0.00	0.00	0.00	19.77
BYYLF	0.24	0.10	0.00	1.04	0.00	0.00	0.00	0.00	8.11
ADFJF	1.83	0.13	0.04	0.31	2.03	(2.80)	3.94	(3.85)	16.29
QEPC	0.84	0.02	(0.02)	0.17	1.21	(1.16)	2.58	(2.51)	6.74

Be your own money manager

Our tools can tell you how much better you can do entering a position in Freelancer 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 Watchlist Optimization Now

Watchlist Optimization

Optimize watchlists to build efficient portfolios or rebalance existing positions based on the mean-variance optimization algorithm

All Next

Launch Module

Freelancer Corporate Management

Adam Byrnes	VP Growth	Profile
Sy Yves	VP Operations	Profile
Sarah Tang	VP Enterprise	Profile
Laurent Goudet	Chief Officer	Profile
Craig Tindale	Head Solutions	Profile

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2025 Macroaxis LLC