Innovative Designs Correlations

IVDN Stock

USD 0.24 0.05 26.32%

The current 90-days correlation between Innovative Designs and Emerge Commerce is -0.05 (i.e., Good diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Innovative Designs moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Innovative Designs moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Innovative Designs Correlation With Market

Average diversification

The correlation between Innovative Designs and DJI is 0.13 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Innovative Designs and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to Innovative Designs 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 Designs 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 Designs - 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 Designs to buy it.

Moving against Innovative Pink Sheet

0.63	AAPL	Apple Inc	Pair Corr
0.62	NXGPF	NEXT plc	Pair Corr
0.61	GOOG	Alphabet Class C	Pair Corr
0.59	BMYMP	Bristol Myers Squibb	Pair Corr
0.58	TJX	TJX Companies	Pair Corr
0.55	ROST	Ross Stores	Pair Corr
0.51	IDEXF	Industria de Diseo	Pair Corr
0.5	IDEXY	Industria de Diseno	Pair Corr
0.49	LULU	Lululemon Athletica	Pair Corr
0.59	PNGZF	Paringa Resources	Pair Corr
0.59	LOCO	El Pollo Loco	Pair Corr
0.58	JOE	St Joe Company	Pair Corr
0.55	TLSNY	Telia Company	Pair Corr
0.53	DAC	Danaos	Pair Corr
0.5	WEICF	Weichai Power	Pair Corr
0.47	ALB	Albemarle Corp	Pair Corr
0.46	DQ	Daqo New Energy	Pair Corr
0.42	JPM	JPMorgan Chase	Pair Corr
0.39	85855CAE0	STLA 6375 12	Pair Corr
0.37	ACR-PC	ACRES Commercial Realty	Pair Corr
0.35	SANM	Sanmina Tech Boost	Pair Corr
0.64	JSPCF	JSP Corporation	Pair Corr
0.64	NMIH	NMI Holdings	Pair Corr
0.62	BOF	BranchOut Food Common	Pair Corr
0.61	PAOG	Pao Group	Pair Corr
0.54	FYBR	Frontier Communications	Pair Corr
0.48	SMEGF	Siemens Energy AG	Pair Corr

Related Correlations Analysis

	ALLGF	EPTI	EMCMF	DXYN	ICDX	KENS	ECXJ	FFLO	GFASY	TOYRF
ALLGF		0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	ALLGF
EPTI	0.0		0.0	0.0	-1.0	0.0	0.0	0.0	0.0	1.0	EPTI
EMCMF	0.0	0.0		-0.66	0.0	0.66	0.18	-0.37	-0.64	0.0	EMCMF
DXYN	0.0	0.0	-0.66		0.0	-0.6	-0.41	0.73	0.45	0.0	DXYN
ICDX	0.0	-1.0	0.0	0.0		0.0	0.0	0.0	0.0	-1.0	ICDX
KENS	0.0	0.0	0.66	-0.6	0.0		0.14	-0.22	-0.85	0.0	KENS
ECXJ	0.0	0.0	0.18	-0.41	0.0	0.14		-0.5	-0.24	0.0	ECXJ
FFLO	0.0	0.0	-0.37	0.73	0.0	-0.22	-0.5		0.12	0.0	FFLO
GFASY	0.0	0.0	-0.64	0.45	0.0	-0.85	-0.24	0.12		0.0	GFASY
TOYRF	0.0	1.0	0.0	0.0	-1.0	0.0	0.0	0.0	0.0		TOYRF
	ALLGF	EPTI	EMCMF	DXYN	ICDX	KENS	ECXJ	FFLO	GFASY	TOYRF

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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

TOYRF	+ 1.0	EPTI
FFLO	+ 0.73	DXYN
KENS	+ 0.66	EMCMF
GFASY	+ 0.45	DXYN
ECXJ	+ 0.18	EMCMF
ECXJ	+ 0.14	KENS

High negative correlations

TOYRF	- 1.0	ICDX
ICDX	- 1.0	EPTI
GFASY	- 0.85	KENS
DXYN	- 0.66	EMCMF
GFASY	- 0.64	EMCMF
KENS	- 0.6	DXYN

Risk-Adjusted Indicators

There is a big difference between Innovative Pink Sheet performing well and Innovative Designs 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 Designs' 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
ALLGF	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
EPTI	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
EMCMF	2.34	0.80	0.00	2.30	0.00	0.00	0.00	0.00	40.00
DXYN	4.87	(0.46)	0.00	0.81	0.00	0.00	12.24	(11.11)	32.22
ICDX	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
KENS	18.18	8.03	0.18	(0.71)	14.15	(49.82)	34.62	(27.03)	386.06
ECXJ	2.39	1.38	0.00	(0.57)	0.00	0.00	0.00	0.00	80.32
FFLO	2.34	(1.41)	0.00	(0.51)	0.00	0.00	0.00	0.00	78.50
GFASY	8.71	0.53	0.01	(0.18)	14.07	(41.40)	38.46	(27.78)	155.66
TOYRF	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 Innovative Designs 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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