IFabric Corp Correlations

IFA Stock

CAD 2.20 0.15 7.32%

The current 90-days correlation between iFabric Corp and First Hydrogen Corp is 0.15 (i.e., Average diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as IFabric Corp moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if iFabric Corp moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

IFabric Corp Correlation With Market

Very poor diversification

The correlation between iFabric Corp and DJI is 0.82 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding iFabric Corp and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with IFabric Stock

0.86	FFH-PI	Fairfax Financial	Pair Corr
0.79	FFH-PK	Fairfax Financial	Pair Corr
0.78	EDR	Endeavour Silver Corp	Pair Corr
0.65	AZM	Azimut Exploration	Pair Corr
0.73	LA	Los Andes Copper	Pair Corr
0.77	PGDC	Patagonia Gold Corp	Pair Corr
0.83	ECU	Element 29 Resources	Pair Corr
0.77	CAF	Canaf Investments	Pair Corr
0.73	TTE	TotalEnergies CDR	Pair Corr
0.78	BOS	AirBoss of America	Pair Corr
0.93	GGO	Galleon Gold Corp	Pair Corr
0.84	GMG	Graphene Manufacturing	Pair Corr
0.88	HMMC	Hemlo Mining Corp Split	Pair Corr
0.85	SMD	Strategic Metals	Pair Corr
0.74	MRG-UN	Morguard North American	Pair Corr
0.85	NEXG	NeXGold Mining Corp	Pair Corr
0.91	AZS	Arizona Gold Silver	Pair Corr
0.87	BNK	Bankers Petroleum	Pair Corr
0.86	CFW	Calfrac Well Services	Pair Corr
0.77	APM	Andean Precious Metals	Pair Corr
0.92	HCH	Hot Chili	Pair Corr
0.79	RV	Pathfinder Ventures	Pair Corr

Moving against IFabric Stock

0.36

BRK

Berkshire Hathaway CDR

Pair Corr

Related Correlations Analysis

	FHYD	UNI	FOOD	WPRT	IFX	DII-B	ICE	NEXE	ECOM
FHYD		-0.72	-0.53	0.09	-0.69	-0.22	0.22	0.75	-0.79	FHYD
UNI	-0.72		0.78	0.37	0.97	0.52	0.05	-0.83	0.8	UNI
FOOD	-0.53	0.78		0.33	0.74	0.2	0.06	-0.65	0.73	FOOD
WPRT	0.09	0.37	0.33		0.37	0.61	0.57	-0.22	0.02	WPRT
IFX	-0.69	0.97	0.74	0.37		0.56	0.11	-0.78	0.76	IFX
DII-B	-0.22	0.52	0.2	0.61	0.56		0.52	-0.34	0.16	DII-B
ICE	0.22	0.05	0.06	0.57	0.11	0.52		0.16	-0.26	ICE
NEXE	0.75	-0.83	-0.65	-0.22	-0.78	-0.34	0.16		-0.84	NEXE
ECOM	-0.79	0.8	0.73	0.02	0.76	0.16	-0.26	-0.84		ECOM
	FHYD	UNI	FOOD	WPRT	IFX	DII-B	ICE	NEXE	ECOM

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

IFX	+ 0.97	UNI
ECOM	+ 0.8	UNI
FOOD	+ 0.78	UNI
ECOM	+ 0.76	IFX
NEXE	+ 0.75	FHYD
IFX	+ 0.74	FOOD

High negative correlations

ECOM	- 0.84	NEXE
NEXE	- 0.83	UNI
ECOM	- 0.79	FHYD
NEXE	- 0.78	IFX
UNI	- 0.72	FHYD
IFX	- 0.69	FHYD

Risk-Adjusted Indicators

There is a big difference between IFabric Stock performing well and IFabric Corp 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 IFabric Corp'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
FHYD	3.34	(0.20)	0.00	(0.10)	0.00	0.00	6.67	(6.98)	23.38
UNI	1.78	0.48	0.12	1.19	2.03	(2.77)	4.94	(2.89)	16.13
FOOD	2.94	(0.05)	0.00	(0.01)	0.00	0.00	8.70	(8.00)	26.67
WPRT	3.04	(0.04)	(0.01)	0.00	3.12	(4.37)	7.79	(6.05)	23.27
IFX	3.70	1.50	0.45	1.39	1.19	(8.28)	2.83	(4.35)	110.89
DII-B	4.29	0.44	0.09	0.48	4.27	(5.36)	10.70	(7.41)	24.80
ICE	1.62	(0.02)	0.00	0.22	0.00	0.00	4.68	(4.47)	17.47
NEXE	3.00	(0.46)	0.00	(0.20)	0.00	0.00	8.33	(7.69)	36.26
ECOM	4.75	0.59	0.06	0.67	4.75	(11.08)	13.33	(11.11)	51.14

Be your own money manager

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