Imaflex Correlations

IFLXF Stock

USD 1.00 0.00 0.00%

The current 90-days correlation between Imaflex and NEXE Innovations is 0.08 (i.e., Significant diversification). The correlation of Imaflex 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.

Imaflex Correlation With Market

Significant diversification

The correlation between Imaflex and DJI is 0.07 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Imaflex and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Imaflex Pink Sheet

0.67	ADVWW	Advantage Solutions	Pair Corr
0.65	BKRKY	Bank Rakyat Earnings Call This Week	Pair Corr
0.77	INTC	Intel	Pair Corr

Moving against Imaflex Pink Sheet

0.6	LPTH	LightPath Technologies Earnings Call This Week	Pair Corr
0.6	CHKP	Check Point Software Earnings Call This Week	Pair Corr
0.59	GILT	Gilat Satellite Networks	Pair Corr
0.49	GCMGW	GCM Grosvenor	Pair Corr
0.36	ATCOL	Atlas Corp	Pair Corr
0.73	WMT	Walmart Aggressive Push	Pair Corr
0.59	BAMXF	Bayerische Motoren Werke	Pair Corr
0.56	AXP	American Express	Pair Corr
0.54	MSFT	Microsoft	Pair Corr
0.5	CSCO	Cisco Systems	Pair Corr
0.45	DIS	Walt Disney Earnings Call This Week	Pair Corr
0.39	V	Visa Class A	Pair Corr
0.35	T	ATT Inc Earnings Call This Week	Pair Corr
0.34	JPM	JPMorgan Chase	Pair Corr
0.32	MMM	3M Company	Pair Corr

Related Correlations Analysis

	KRT	NEXNF	DSS	TUP	GDNPF	SLGN	AMBP	GPK	OCTO	WRK
KRT		0.04	-0.45	0.0	0.0	0.37	-0.09	0.29	-0.26	0.0	KRT
NEXNF	0.04		0.46	0.0	0.0	0.4	0.71	0.62	0.17	0.0	NEXNF
DSS	-0.45	0.46		0.0	0.0	0.07	0.69	0.32	0.54	0.0	DSS
TUP	0.0	0.0	0.0		0.0	0.0	0.0	0.0	0.0	0.0	TUP
GDNPF	0.0	0.0	0.0	0.0		0.0	0.0	0.0	0.0	0.0	GDNPF
SLGN	0.37	0.4	0.07	0.0	0.0		0.62	0.86	-0.05	0.0	SLGN
AMBP	-0.09	0.71	0.69	0.0	0.0	0.62		0.77	0.35	0.0	AMBP
GPK	0.29	0.62	0.32	0.0	0.0	0.86	0.77		0.07	0.0	GPK
OCTO	-0.26	0.17	0.54	0.0	0.0	-0.05	0.35	0.07		0.0	OCTO
WRK	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0		WRK
	KRT	NEXNF	DSS	TUP	GDNPF	SLGN	AMBP	GPK	OCTO	WRK

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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

GPK	+ 0.86	SLGN
GPK	+ 0.77	AMBP
AMBP	+ 0.71	NEXNF
AMBP	+ 0.69	DSS
GPK	+ 0.62	NEXNF
AMBP	+ 0.62	SLGN

High negative correlations

DSS	- 0.45	KRT
OCTO	- 0.26	KRT
AMBP	- 0.09	KRT
OCTO	- 0.05	SLGN
WRK	- 0.0	OCTO
WRK	- 0.0	GPK

Risk-Adjusted Indicators

There is a big difference between Imaflex Pink Sheet performing well and Imaflex 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 Imaflex'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
KRT	1.44	0.21	0.10	0.28	1.65	(1.43)	3.51	(2.86)	14.46
NEXNF	3.08	(0.21)	0.00	(0.40)	0.00	0.00	8.00	(4.00)	19.91
DSS	3.67	(0.80)	0.00	(2.66)	0.00	0.00	9.68	(10.00)	24.69
TUP	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
GDNPF	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
SLGN	0.88	0.03	(0.01)	0.12	1.06	(0.91)	1.66	(1.92)	7.24
AMBP	1.32	(0.40)	0.00	(2.64)	0.00	0.00	2.27	(3.49)	10.58
GPK	0.99	(0.06)	0.00	(0.03)	0.00	0.00	1.64	(1.99)	7.21
OCTO	4.39	(0.11)	0.00	(0.19)	0.00	0.00	5.76	(8.68)	76.37
WRK	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00

Be your own money manager

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