Guardforce Correlations

GRDAF Stock

USD 0.06 0 2.96%

The current 90-days correlation between Guardforce AI and Earthworks Industries is 0.19 (i.e., Average diversification). The correlation of Guardforce 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.

Guardforce Correlation With Market

Significant diversification

The correlation between Guardforce AI Co and DJI is 0.03 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Guardforce AI Co and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Guardforce Pink Sheet

0.77	RTNTF	Rio Tinto Group	Pair Corr
0.62	RIO	Rio Tinto ADR	Pair Corr
0.7	RTPPF	Rio Tinto Group	Pair Corr
0.65	GLCNF	Glencore PLC	Pair Corr
0.65	GLNCY	Glencore PLC ADR	Pair Corr
0.69	AA	Alcoa Corp	Pair Corr

Moving against Guardforce Pink Sheet

0.51	HNHPF	Hon Hai Precision	Pair Corr
0.31	AMZN	Amazon Inc	Pair Corr
0.47	HPQ	HP Inc	Pair Corr
0.31	HD	Home Depot	Pair Corr
0.31	PG	Procter Gamble	Pair Corr

Related Correlations Analysis

	IWAL	ENCC	TESI	EAATF	YELLQ	ABLT	ECEZ	BLIS	CUBXF	NEXD
IWAL		-0.25	0.4	0.61	-0.07	0.4	0.24	-0.57	0.01	0.79	IWAL
ENCC	-0.25		-0.74	-0.24	0.3	0.38	0.06	0.28	-0.03	-0.22	ENCC
TESI	0.4	-0.74		0.18	-0.33	-0.23	-0.01	-0.51	0.02	0.36	TESI
EAATF	0.61	-0.24	0.18		0.04	0.45	0.17	-0.52	-0.25	0.39	EAATF
YELLQ	-0.07	0.3	-0.33	0.04		0.49	0.17	0.16	0.02	0.09	YELLQ
ABLT	0.4	0.38	-0.23	0.45	0.49		0.27	-0.08	0.01	0.35	ABLT
ECEZ	0.24	0.06	-0.01	0.17	0.17	0.27		0.06	-0.1	0.2	ECEZ
BLIS	-0.57	0.28	-0.51	-0.52	0.16	-0.08	0.06		0.04	-0.49	BLIS
CUBXF	0.01	-0.03	0.02	-0.25	0.02	0.01	-0.1	0.04		0.11	CUBXF
NEXD	0.79	-0.22	0.36	0.39	0.09	0.35	0.2	-0.49	0.11		NEXD
	IWAL	ENCC	TESI	EAATF	YELLQ	ABLT	ECEZ	BLIS	CUBXF	NEXD

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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

NEXD	+ 0.79	IWAL
EAATF	+ 0.61	IWAL
ABLT	+ 0.49	YELLQ
ABLT	+ 0.45	EAATF
TESI	+ 0.4	IWAL
ABLT	+ 0.4	IWAL

High negative correlations

TESI	- 0.74	ENCC
BLIS	- 0.57	IWAL
BLIS	- 0.52	EAATF
BLIS	- 0.51	TESI
NEXD	- 0.49	BLIS
YELLQ	- 0.33	TESI

Risk-Adjusted Indicators

There is a big difference between Guardforce Pink Sheet performing well and Guardforce 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 Guardforce'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
IWAL	2.34	(0.42)	0.00	0.50	0.00	0.00	3.64	(8.67)	35.91
ENCC	12.43	2.30	0.15	(11.58)	12.00	(15.94)	27.78	(25.13)	121.75
TESI	35.29	17.25	0.00	(1.16)	0.00	0.00	0.00	0.00	1,000.00
EAATF	5.97	(2.16)	0.00	5.41	0.00	0.00	12.00	(20.70)	88.05
YELLQ	46.41	16.66	0.39	(1.66)	21.75	(185.23)	200.00	(50.00)	566.67
ABLT	0.40	(0.10)	0.00	0.81	0.00	0.00	0.00	0.00	10.30
ECEZ	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
BLIS	36.43	14.99	0.94	0.50	11.36	(63.21)	34.62	(26.67)	1,035
CUBXF	33.64	9.88	0.22	104.36	22.48	(93.88)	127.85	(57.58)	379.00
NEXD	4.77	(2.03)	0.00	(1.01)	0.00	0.00	0.00	(10.91)	74.29

Be your own money manager

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