Glory Forever Correlations
| GLORY Stock | 1.15 0.03 2.54% |
The current 90-days correlation between Glory Forever PCL and II Group Public is 0.49 (i.e., Very weak diversification). The correlation of Glory Forever 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.
Glory Forever Correlation With Market
Significant diversification
The correlation between Glory Forever PCL and DJI is 0.04 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Glory Forever PCL and DJI in the same portfolio, assuming nothing else is changed.
Glory |
The ability to find closely correlated positions to Glory Forever could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Glory Forever 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 Glory Forever - 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 Glory Forever PCL to buy it.
Moving together with Glory Stock
Moving against Glory Stock
Related Correlations Analysis
| -0.02 | 0.56 | 0.23 | 0.06 | IIG | ||
| -0.02 | 0.04 | -0.24 | 0.04 | INSET | ||
| 0.56 | 0.04 | 0.48 | 0.0 | ILINK | ||
| 0.23 | -0.24 | 0.48 | -0.17 | GSC | ||
| 0.06 | 0.04 | 0.0 | -0.17 | HL | ||
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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
| High negative correlations
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Risk-Adjusted Indicators
There is a big difference between Glory Stock performing well and Glory Forever 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 Glory Forever'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| IIG | 3.05 | (0.20) | 0.00 | (2.51) | 0.00 | 6.93 | 27.54 | |||
| INSET | 3.08 | 0.57 | 0.13 | 1.46 | 2.93 | 9.49 | 23.27 | |||
| ILINK | 1.50 | 0.12 | 0.00 | (1.76) | 1.58 | 3.33 | 10.43 | |||
| GSC | 2.98 | (0.24) | 0.00 | 0.29 | 0.00 | 4.35 | 44.28 | |||
| HL | 1.03 | 0.16 | 0.01 | (0.65) | 1.18 | 3.55 | 10.56 |
Glory Forever Related Equities
One of the popular trading techniques among algorithmic traders is to use market-neutral strategies where every trade hedges away some risk. Because there are two separate transactions required, even if one position performs unexpectedly, the other equity can make up some of the losses. Below are some of the equities that can be combined with Glory Forever stock to make a market-neutral strategy. Peer analysis of Glory Forever could also be used in its relative valuation, which is a method of valuing Glory Forever by comparing valuation metrics with similar companies.
| Risk & Return | Correlation |