Goodfood Market Correlations

GDDFF Stock  USD 0.33  0.03  8.33%   
The current 90-days correlation between Goodfood Market Corp and Morningstar Unconstrained Allocation is 0.12 (i.e., Average diversification). The correlation of Goodfood Market 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.

Goodfood Market Correlation With Market

Very weak diversification

The correlation between Goodfood Market Corp and DJI is 0.43 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Goodfood Market Corp and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to Goodfood Market could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Goodfood Market 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 Goodfood Market - 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 Goodfood Market Corp to buy it.

Moving together with Goodfood Pink Sheet

  0.81CVX Chevron Corp Fiscal Year End 7th of February 2025 PairCorr
  0.86BAC Bank of America Aggressive PushPairCorr
  0.73AXP American Express Fiscal Year End 24th of January 2025 PairCorr
  0.78WMT Walmart Aggressive PushPairCorr
  0.61TRV The Travelers Companies Fiscal Year End 17th of January 2025 PairCorr
  0.84JPM JPMorgan Chase Sell-off TrendPairCorr
  0.62CSCO Cisco Systems Aggressive PushPairCorr

Moving against Goodfood Pink Sheet

  0.9PFE Pfizer Inc Aggressive PushPairCorr
  0.77KO Coca Cola Aggressive PushPairCorr
  0.71MRK Merck Company Fiscal Year End 6th of February 2025 PairCorr
  0.58AAGH America Great HealthPairCorr
  0.53BA Boeing Fiscal Year End 29th of January 2025 PairCorr
  0.49NNAX New MomentumPairCorr

Related Correlations Analysis

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

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   
IDSCRYY
LBHIXMSTSX
VIASPID
VIASPSCRYY
LBHIXABHYX
IDLBHIX
  
High negative correlations   
ID444859BR2
LBHIX444859BR2
MSTSX444859BR2
MSTSXBRRAY
SCRYY444859BR2
SCRYYFTLF

Risk-Adjusted Indicators

There is a big difference between Goodfood Pink Sheet performing well and Goodfood Market 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 Goodfood Market'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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
FTLF  1.22 (0.03)(0.02) 0.09  1.99 
 3.21 
 14.26 
444859BR2  1.31  0.03  0.00  0.07  0.00 
 5.93 
 16.62 
SCRYY  2.13  0.38  0.09 (0.82) 2.03 
 5.61 
 12.99 
AQUI  0.00  0.00  0.00  0.00  0.00 
 0.00 
 0.00 
BRRAY  1.27 (0.13) 0.00  0.01  0.00 
 0.00 
 34.02 
MSTSX  0.48 (0.05)(0.15) 0.04  0.53 
 1.03 
 2.80 
ABHYX  0.17  0.00 (0.25) 0.08  0.26 
 0.34 
 1.91 
LBHIX  0.11  0.01 (0.40) 0.46  0.00 
 0.24 
 0.96 
ID  3.65  0.47  0.08  0.69  4.00 
 7.32 
 20.54 
VIASP  0.74  0.08 (0.03)(2.22) 1.13 
 2.28 
 7.18 

Be your own money manager

Our tools can tell you how much better you can do entering a position in Goodfood Market 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 ETF Categories Now

   

ETF Categories

List of ETF categories grouped based on various criteria, such as the investment strategy or type of investments
All  Next Launch Module

Goodfood Market Corporate Management