Hammond Power Correlations

HMDPF Stock

USD 149.10 2.27 1.50%

The current 90-days correlation between Hammond Power Solutions and Austal Limited is 0.15 (i.e., Average diversification). The correlation of Hammond Power 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.

Hammond Power Correlation With Market

Very weak diversification

The correlation between Hammond Power Solutions and DJI is 0.54 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Hammond Power Solutions and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Hammond Pink Sheet

0.66	BNEFF	Bonterra Energy Corp	Pair Corr
0.84	AES	AES	Pair Corr
0.61	NNBR	NN Inc	Pair Corr
0.67	SLSR	Solaris Resources	Pair Corr
0.61	482480AN0	KLAC 525 15	Pair Corr
0.61	GRBK	Green Brick Partners Earnings Call This Week	Pair Corr
0.65	CGECF	Cogeco Inc	Pair Corr
0.74	PLSE	Pulse Biosciences	Pair Corr
0.79	MEGI	MainStay CBRE Global	Pair Corr
0.64	MEEEF	Metal Energy Corp	Pair Corr
0.68	CYD	China Yuchai Interna Earnings Call This Week	Pair Corr
0.62	JLHL	Julong Holding Upward Rally	Pair Corr
0.68	FRSB	First Resource Bank	Pair Corr

Moving against Hammond Pink Sheet

0.35	TLK	Telkom Indonesia Tbk	Pair Corr
0.32	PTAIF	PT Astra International	Pair Corr

Related Correlations Analysis

	LGYRF	GYUAF	AUTLF	ECTXF	HHULY	WKRCF	PFFVF	SYRVF	CMGMY	FGROY
LGYRF		0.46	-0.11	-0.82	0.65	0.2	-0.78	0.0	-0.26	0.45	LGYRF
GYUAF	0.46		-0.34	-0.56	0.52	-0.03	-0.35	0.0	-0.28	0.76	GYUAF
AUTLF	-0.11	-0.34		0.26	-0.48	0.64	0.09	0.0	0.71	-0.4	AUTLF
ECTXF	-0.82	-0.56	0.26		-0.77	0.0	0.78	0.0	0.33	-0.61	ECTXF
HHULY	0.65	0.52	-0.48	-0.77		-0.21	-0.54	0.0	-0.48	0.61	HHULY
WKRCF	0.2	-0.03	0.64	0.0	-0.21		-0.26	0.0	0.48	-0.14	WKRCF
PFFVF	-0.78	-0.35	0.09	0.78	-0.54	-0.26		0.0	0.08	-0.35	PFFVF
SYRVF	0.0	0.0	0.0	0.0	0.0	0.0	0.0		0.0	0.0	SYRVF
CMGMY	-0.26	-0.28	0.71	0.33	-0.48	0.48	0.08	0.0		-0.48	CMGMY
FGROY	0.45	0.76	-0.4	-0.61	0.61	-0.14	-0.35	0.0	-0.48		FGROY
	LGYRF	GYUAF	AUTLF	ECTXF	HHULY	WKRCF	PFFVF	SYRVF	CMGMY	FGROY

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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

PFFVF	+ 0.78	ECTXF
FGROY	+ 0.76	GYUAF
CMGMY	+ 0.71	AUTLF
HHULY	+ 0.65	LGYRF
WKRCF	+ 0.64	AUTLF
FGROY	+ 0.61	HHULY

High negative correlations

ECTXF	- 0.82	LGYRF
PFFVF	- 0.78	LGYRF
HHULY	- 0.77	ECTXF
FGROY	- 0.61	ECTXF
ECTXF	- 0.56	GYUAF
PFFVF	- 0.54	HHULY

Risk-Adjusted Indicators

There is a big difference between Hammond Pink Sheet performing well and Hammond Power 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 Hammond Power'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
LGYRF	0.70	(0.15)	0.00	(0.63)	0.00	0.00	0.00	0.00	18.21
GYUAF	0.24	(0.14)	0.00	(0.84)	0.00	0.00	0.00	0.00	6.16
AUTLF	4.27	(0.04)	0.00	0.02	5.80	(4.75)	8.47	(8.50)	28.93
ECTXF	0.19	0.09	0.00	(3.03)	0.00	0.00	0.00	0.00	4.38
HHULY	1.16	(0.19)	0.00	0.36	0.00	0.00	4.12	(4.33)	20.85
WKRCF	1.01	(0.06)	0.00	(0.20)	0.00	0.00	0.00	0.00	52.08
PFFVF	0.42	0.04	0.00	(1.19)	0.00	0.00	0.00	(0.33)	16.41
SYRVF	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
CMGMY	3.22	0.20	0.04	9.21	3.40	(4.65)	8.07	(5.63)	19.08
FGROY	0.75	(0.29)	0.00	(0.68)	0.00	0.00	0.00	(1.35)	16.52

Be your own money manager

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

Bob Yusyp	Chief Officer	Profile
Michael Frayne	Director Marketing	Profile
Richard Vollering	CFO Sec	Profile
David Kinsella	Chief Officer	Profile
Catherine McKeown	Chief Officer	Profile
Dale Sidey	Chief Officer	Profile

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