Global Innovative Correlations

GIPL Stock

USD 0.11 0.00 0.00%

The current 90-days correlation between Global Innovative and China Senior Living is -0.01 (i.e., Good diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Global Innovative moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Global Innovative Platforms moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Global Innovative Correlation With Market

Average diversification

The correlation between Global Innovative Platforms and DJI is 0.1 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Global Innovative Platforms and DJI in the same portfolio, assuming nothing else is changed.

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

Moving against Global Pink Sheet

0.44	RIVN	Rivian Automotive Aggressive Push	Pair Corr
0.44	RLMD	Relmada Therapeutics	Pair Corr
0.39	LION	Lionsgate Studios Holding Buyout Trend	Pair Corr
0.38	MPW	Medical Properties Trust	Pair Corr
0.34	PBAJ	Petro Usa	Pair Corr
0.67	AVTBF	Avant Brands	Pair Corr
0.64	IDN	Intellicheck Mobilisa	Pair Corr
0.52	AKAM	Akamai Technologies	Pair Corr
0.51	ULTA	Ulta Beauty	Pair Corr
0.39	DNLMY	Dunelm Group PLC	Pair Corr
0.36	CRRFY	Carrefour SA PK	Pair Corr
0.33	REGN	Regeneron Pharmaceuticals	Pair Corr
0.62	PHAR	Pharming Group NV	Pair Corr
0.46	SHIP	Seanergy Maritime	Pair Corr
0.44	DDS	Dillards,	Pair Corr

Related Correlations Analysis

	ABVN	NRCD	CHYL	FUNR	QUAN	SMPP	BTOW	FWFW	HIPH	SMEV
ABVN		-0.54	-0.34	-0.14	-0.27	0.0	0.26	-0.09	0.17	-0.2	ABVN
NRCD	-0.54		0.06	0.41	0.71	0.0	-0.66	0.36	-0.33	0.3	NRCD
CHYL	-0.34	0.06		0.12	0.0	0.0	0.23	0.0	0.26	0.4	CHYL
FUNR	-0.14	0.41	0.12		0.58	0.0	-0.49	0.62	-0.23	0.69	FUNR
QUAN	-0.27	0.71	0.0	0.58		0.0	-0.56	0.27	-0.31	0.49	QUAN
SMPP	0.0	0.0	0.0	0.0	0.0		0.0	0.0	0.0	0.0	SMPP
BTOW	0.26	-0.66	0.23	-0.49	-0.56	0.0		-0.4	0.44	-0.06	BTOW
FWFW	-0.09	0.36	0.0	0.62	0.27	0.0	-0.4		-0.2	0.35	FWFW
HIPH	0.17	-0.33	0.26	-0.23	-0.31	0.0	0.44	-0.2		-0.1	HIPH
SMEV	-0.2	0.3	0.4	0.69	0.49	0.0	-0.06	0.35	-0.1		SMEV
	ABVN	NRCD	CHYL	FUNR	QUAN	SMPP	BTOW	FWFW	HIPH	SMEV

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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

QUAN	+ 0.71	NRCD
SMEV	+ 0.69	FUNR
FWFW	+ 0.62	FUNR
QUAN	+ 0.58	FUNR
SMEV	+ 0.49	QUAN
HIPH	+ 0.44	BTOW

High negative correlations

BTOW	- 0.66	NRCD
BTOW	- 0.56	QUAN
NRCD	- 0.54	ABVN
BTOW	- 0.49	FUNR
FWFW	- 0.4	BTOW
CHYL	- 0.34	ABVN

Risk-Adjusted Indicators

There is a big difference between Global Pink Sheet performing well and Global Innovative 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 Global Innovative'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
ABVN	0.96	(0.06)	0.00	0.27	0.00	0.00	0.00	0.00	24.88
NRCD	0.47	0.05	0.00	(0.06)	0.00	0.00	0.00	0.00	29.00
CHYL	3,578	1,807	0.00	19.09	0.00	0.00	0.00	0.00	119,900
FUNR	15.26	2.54	0.06	(0.32)	16.26	(44.03)	50.00	(33.33)	133.33
QUAN	7.54	0.08	0.01	0.11	11.66	(7.36)	14.22	(16.22)	85.29
SMPP	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
BTOW	1.77	0.78	0.00	0.57	0.00	0.00	0.00	0.00	38.81
FWFW	8.57	1.25	0.00	0.44	0.00	0.00	3.17	(12.33)	260.12
HIPH	14.58	3.81	0.00	(9.80)	0.00	0.00	100.00	(50.00)	150.00
SMEV	3.46	0.37	0.02	(3.68)	5.94	(9.90)	12.00	(7.32)	48.42

Be your own money manager

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