Innovative Industrial Correlations

IIPR-P-A

25.01 0.01 0.04%

The current 90-days correlation between Innovative Industrial and Legacy Education is -0.24 (i.e., Very good diversification). The correlation of Innovative Industrial 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.

Innovative Industrial Correlation With Market

Good diversification

The correlation between Innovative Industrial Properti and DJI is -0.15 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Innovative Industrial Properti and DJI in the same portfolio, assuming nothing else is changed.

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

Moving against Innovative Preferred Stock

0.83	TM	Toyota Motor	Pair Corr
0.81	WIMI	WiMi Hologram Cloud	Pair Corr
0.65	ENLT	Enlight Renewable Energy	Pair Corr
0.62	DRI	Darden Restaurants	Pair Corr
0.61	BBAI	BigBearai Holdings	Pair Corr
0.6	NITO	N2OFF Inc Symbol Change	Pair Corr
0.54	AMPX	Amprius Technologies	Pair Corr
0.51	TSM	Taiwan Semiconductor Earnings Call Next Week	Pair Corr
0.48	ENIC	Enel Chile SA	Pair Corr
0.48	SQNS	Sequans Communications Downward Rally	Pair Corr
0.43	GOOG	Alphabet Class C Aggressive Push	Pair Corr
0.36	AAPL	Apple Inc	Pair Corr
0.32	TNXP	Tonix Pharmaceuticals	Pair Corr
0.72	KULR	KULR Technology Group	Pair Corr
0.71	QSI	QuantumSi	Pair Corr
0.68	CISO	Cerberus Cyber Sentinel	Pair Corr
0.62	MFDB	Mutual Federal Bancorp	Pair Corr
0.55	PHR	Phreesia	Pair Corr
0.43	KC	Kingsoft Cloud Holdings	Pair Corr
0.37	GPHBF	G6 Materials Corp	Pair Corr

Related Correlations Analysis

	LGCY	AAPL	NVDA	MSFT	AMZN	GOOG	BMYMP	META
LGCY		0.82	0.03	0.63	0.85	0.7	0.73	0.57	LGCY
AAPL	0.82		-0.13	0.77	0.78	0.75	0.47	0.68	AAPL
NVDA	0.03	-0.13		0.0	0.19	0.09	0.32	-0.09	NVDA
MSFT	0.63	0.77	0.0		0.75	0.62	0.31	0.77	MSFT
AMZN	0.85	0.78	0.19	0.75		0.9	0.71	0.67	AMZN
GOOG	0.7	0.75	0.09	0.62	0.9		0.58	0.63	GOOG
BMYMP	0.73	0.47	0.32	0.31	0.71	0.58		0.13	BMYMP
META	0.57	0.68	-0.09	0.77	0.67	0.63	0.13		META
	LGCY	AAPL	NVDA	MSFT	AMZN	GOOG	BMYMP	META

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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

GOOG	+ 0.9	AMZN
AMZN	+ 0.85	LGCY
AAPL	+ 0.82	LGCY
AMZN	+ 0.78	AAPL
MSFT	+ 0.77	AAPL
META	+ 0.77	MSFT

High negative correlations

NVDA	- 0.13	AAPL
META	- 0.09	NVDA
MSFT	- 0.0	NVDA

Risk-Adjusted Indicators

There is a big difference between Innovative Preferred Stock performing well and Innovative Industrial 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 Innovative Industrial'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
LGCY	3.35	0.96	0.23	0.54	3.16	(3.86)	10.85	(6.33)	23.25
AAPL	0.86	0.10	0.08	0.85	1.09	(0.86)	1.67	(2.14)	4.76
NVDA	1.97	0.22	0.09	0.39	2.40	(2.09)	4.07	(4.18)	9.07
MSFT	0.89	0.02	0.01	(0.18)	1.62	(0.81)	1.78	(1.73)	8.14
AMZN	1.42	0.31	0.16	(5.36)	1.64	(1.50)	2.94	(3.06)	10.78
GOOG	1.36	0.25	0.15	(0.92)	1.45	(1.42)	3.54	(1.96)	8.99
BMYMP	1.41	0.38	0.07	3.18	1.59	(3.63)	3.82	(4.53)	22.13
META	1.33	0.09	0.06	0.44	1.47	(1.51)	3.22	(3.15)	7.43

Innovative Industrial Related Equities

One of the popular trading techniques among algorithmic traders is to use market-neutral strategies where every trade hedges away some risk. Because there are two separate transactions required, even if one position performs unexpectedly, the other equity can make up some of the losses. Below are some of the equities that can be combined with Innovative Industrial preferred stock to make a market-neutral strategy. Peer analysis of Innovative Industrial could also be used in its relative valuation, which is a method of valuing Innovative Industrial by comparing valuation metrics with similar companies.

Legacy Education Apple Inc NVIDIA Microsoft Amazon Inc Alphabet Inc Class C Bristol Myers Squibb Meta Platforms American Airlines Group Alcoa Corp Apple Inc Best Buy Co Citigroup SentinelOne CVS Health Corp

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