Goodman Correlations

GMGSF Stock

USD 21.50 0.97 4.72%

The current 90-days correlation between Goodman Group and Sun Hung Kai is 0.09 (i.e., Significant diversification). The correlation of Goodman 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.

Goodman Correlation With Market

Poor diversification

The correlation between Goodman Group and DJI is 0.71 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Goodman Group and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Goodman Pink Sheet

0.79	LSGOF	Land Securities Group	Pair Corr
0.7	FINN	First National	Pair Corr
0.63	PKX	POSCO Holdings	Pair Corr
0.65	HYMTF	Hyundai Motor	Pair Corr
0.64	SKM	SK Telecom	Pair Corr
0.64	KGC	Kinross Gold Aggressive Push	Pair Corr
0.82	PNC	PNC Financial Services	Pair Corr
0.65	JPM-PD	JPMorgan Chase	Pair Corr
0.75	CBCY	Central Bancompany	Pair Corr
0.75	PAC	Grupo Aeroportuario del	Pair Corr
0.68	ERJ	ERJ Old Earnings Call This Week	Pair Corr
0.69	SRXXF	SPARX Group	Pair Corr
0.65	GOLD	Gold Inc Symbol Change	Pair Corr
0.73	WGO	Winnebago Industries	Pair Corr
0.63	BRER	Bresler Reiner	Pair Corr
0.63	JOE	St Joe Company	Pair Corr
0.69	JBLU	JetBlue Airways Corp	Pair Corr
0.72	CET	Central Securities	Pair Corr
0.7	MT	ArcelorMittal SA ADR	Pair Corr
0.67	OMAB	Grupo Aeroportuario del	Pair Corr

Moving against Goodman Pink Sheet

0.63	STKAF	Stockland	Pair Corr
0.31	TKURF	Tokyu REIT	Pair Corr
0.42	LOWLF	Lowell Farms	Pair Corr

Related Correlations Analysis

	PLD	SUHJY	SUHJF	MTSFF	MTSFY	MITEY	MITEF	CTOUF	CRBJF	GPTGF
PLD		0.84	0.78	0.4	0.91	0.94	0.88	0.36	-0.14	0.32	PLD
SUHJY	0.84		0.95	0.44	0.81	0.86	0.82	0.27	-0.13	0.37	SUHJY
SUHJF	0.78	0.95		0.5	0.73	0.8	0.77	0.29	-0.13	0.34	SUHJF
MTSFF	0.4	0.44	0.5		0.33	0.36	0.4	0.24	-0.31	0.25	MTSFF
MTSFY	0.91	0.81	0.73	0.33		0.96	0.85	0.21	-0.07	0.16	MTSFY
MITEY	0.94	0.86	0.8	0.36	0.96		0.92	0.32	-0.16	0.25	MITEY
MITEF	0.88	0.82	0.77	0.4	0.85	0.92		0.38	-0.29	0.44	MITEF
CTOUF	0.36	0.27	0.29	0.24	0.21	0.32	0.38		-0.56	0.17	CTOUF
CRBJF	-0.14	-0.13	-0.13	-0.31	-0.07	-0.16	-0.29	-0.56		-0.16	CRBJF
GPTGF	0.32	0.37	0.34	0.25	0.16	0.25	0.44	0.17	-0.16		GPTGF
	PLD	SUHJY	SUHJF	MTSFF	MTSFY	MITEY	MITEF	CTOUF	CRBJF	GPTGF

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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

MITEY	+ 0.96	MTSFY
SUHJF	+ 0.95	SUHJY
MITEY	+ 0.94	PLD
MITEF	+ 0.92	MITEY
MTSFY	+ 0.91	PLD
MITEF	+ 0.88	PLD

High negative correlations

CRBJF	- 0.56	CTOUF
CRBJF	- 0.31	MTSFF
CRBJF	- 0.29	MITEF
GPTGF	- 0.16	CRBJF
CRBJF	- 0.16	MITEY
CRBJF	- 0.14	PLD

Risk-Adjusted Indicators

There is a big difference between Goodman Pink Sheet performing well and Goodman 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 Goodman'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
PLD	0.88	0.19	0.08	1.26	1.05	(0.96)	2.17	(1.80)	5.58
SUHJY	1.28	0.50	0.28	3.51	1.01	(1.59)	2.99	(2.08)	7.65
SUHJF	1.38	0.54	0.00	1.34	0.00	0.00	6.52	(0.07)	16.37
MTSFF	1.06	0.04	(0.01)	0.26	2.23	(3.26)	5.22	(2.59)	22.41
MTSFY	1.30	0.22	0.15	0.32	1.20	(1.48)	3.13	(2.24)	8.97
MITEY	1.51	0.64	0.43	0.85	0.80	(1.83)	4.53	(2.25)	10.13
MITEF	1.79	0.65	0.00	2.53	0.00	0.00	6.09	(1.82)	27.67
CTOUF	0.80	0.21	0.05	1.37	0.57	(3.52)	2.25	(2.00)	16.94
CRBJF	8.00	2.31	0.00	(0.33)	0.00	0.00	57.14	(39.61)	118.68
GPTGF	0.75	0.08	(0.01)	(0.15)	1.46	(4.17)	2.30	(1.12)	15.03

Be your own money manager

Our tools can tell you how much better you can do entering a position in Goodman 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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Goodman Corporate Management

Daniel Peeters	Exec Director	Profile
James Inwood	Head Relations	Profile
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