First National Correlations
| FNEC Stock | USD 0.09 0.04 92.36% |
The current 90-days correlation between First National Energy and TransAlta Corp is -0.11 (i.e., Good diversification). The correlation of First National 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.
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The ability to find closely correlated positions to First National could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace First National 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 First National - 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 First National Energy to buy it.
Moving together with First Pink Sheet
| 0.69 | PPERY | Bank Mandiri Persero | PairCorr |
| 0.67 | PPERF | Bank Mandiri Persero | PairCorr |
| 0.62 | BKRKF | PT Bank Rakyat | PairCorr |
| 0.78 | BKRKY | Bank Rakyat | PairCorr |
| 0.66 | SHG | Shinhan Financial | PairCorr |
Moving against First Pink Sheet
| 0.86 | MRVL | Marvell Technology Earnings Call This Week | PairCorr |
| 0.85 | NVDA | NVIDIA | PairCorr |
| 0.85 | ADSK | Autodesk | PairCorr |
| 0.84 | ALAB | Astera Labs, Common | PairCorr |
| 0.78 | CRWD | Crowdstrike Holdings Earnings Call Today | PairCorr |
| 0.78 | STLD | Steel Dynamics Fiscal Year End 28th of January 2025 | PairCorr |
| 0.78 | GM | General Motors Aggressive Push | PairCorr |
| 0.75 | KB | KB Financial Group | PairCorr |
| 0.72 | ZM | Zoom Video Communications | PairCorr |
| 0.66 | CNL | Collective Mining | PairCorr |
| 0.58 | TLN | Talen Energy | PairCorr |
| 0.54 | APLD | Applied Blockchain Trending | PairCorr |
| 0.41 | RCAT | Red Cat Holdings Trending | PairCorr |
Related Correlations Analysis
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Risk-Adjusted Indicators
There is a big difference between First Pink Sheet performing well and First National 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 First National'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| TAC | 1.50 | 0.37 | 0.15 | (36.58) | 1.33 | 4.06 | 13.36 | |||
| PAM | 1.49 | 0.71 | 0.45 | 1.14 | 0.79 | 3.57 | 8.23 | |||
| VST | 3.06 | 0.88 | 0.27 | 0.64 | 2.92 | 6.32 | 22.81 | |||
| NRG | 1.62 | 0.19 | 0.06 | 0.45 | 2.19 | 2.93 | 12.23 | |||
| KEN | 1.32 | 0.16 | 0.06 | 0.37 | 1.65 | 2.93 | 8.45 |
Be your own money manager
Our tools can tell you how much better you can do entering a position in First National 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?
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