Innovative Designs Correlations

IVDN Stock

USD 0.23 0.01 4.17%

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

Good diversification

The correlation between Innovative Designs and DJI is -0.09 (i.e., Good 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 together with Innovative Pink Sheet

0.66	UAMY	United States Antimony Trending	Pair Corr
0.68	ATLN	Atlantic International Trending	Pair Corr
0.61	CRML	Critical Metals Corp Upward Rally	Pair Corr

Moving against Innovative Pink Sheet

0.52	PPERY	Bank Mandiri Persero	Pair Corr
0.44	TJX	TJX Companies Sell-off Trend	Pair Corr
0.44	PPERF	Bank Mandiri Persero	Pair Corr
0.4	TLK	Telkom Indonesia Tbk	Pair Corr
0.39	LULU	Lululemon Athletica	Pair Corr
0.35	IDEXY	Industria de Diseno	Pair Corr
0.34	IDEXF	Industria de Diseo	Pair Corr
0.33	ROST	Ross Stores	Pair Corr
0.72	NUVB	Nuvation Bio Downward Rally	Pair Corr
0.47	GLOB	Globant SA Sell-off Trend	Pair Corr
0.45	TLKMF	Telkom Indonesia Tbk	Pair Corr
0.33	DLNG	Dynagas LNG Partners	Pair Corr
0.71	SGHT	Sight Sciences	Pair Corr
0.55	VWAGY	Volkswagen AG 110	Pair Corr
0.48	CMRE	Costamare	Pair Corr
0.35	FMAO	Farmers Merchants Bancorp	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		-0.73	0.0	0.68	0.11	-0.36	-0.64	0.0	EMCMF
DXYN	0.0	0.0	-0.73		0.0	-0.68	-0.15	0.62	0.47	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	0.68	-0.68	0.0		0.21	-0.24	-0.87	0.0	KENS
ECXJ	0.0	0.0	0.11	-0.15	0.0	0.21		-0.19	-0.28	0.0	ECXJ
FFLO	0.0	0.0	-0.36	0.62	0.0	-0.24	-0.19		0.09	0.0	FFLO
GFASY	0.0	0.0	-0.64	0.47	0.0	-0.87	-0.28	0.09		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
KENS	+ 0.68	EMCMF
FFLO	+ 0.62	DXYN
GFASY	+ 0.47	DXYN
ECXJ	+ 0.21	KENS
ECXJ	+ 0.11	EMCMF

High negative correlations

TOYRF	- 1.0	ICDX
ICDX	- 1.0	EPTI
GFASY	- 0.87	KENS
DXYN	- 0.73	EMCMF
KENS	- 0.68	DXYN
GFASY	- 0.64	EMCMF

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	2.33	0.85	0.00	0.65	0.00	0.00	0.00	0.00	40.00
DXYN	4.95	(0.37)	0.00	0.57	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	18.05	8.04	0.21	(0.97)	13.55	(46.57)	34.62	(16.00)	386.06
ECXJ	2.39	1.15	0.00	1.88	0.00	0.00	0.00	0.00	80.32
FFLO	2.34	(1.14)	0.00	1.33	0.00	0.00	0.00	0.00	78.50
GFASY	8.71	0.47	0.01	(0.20)	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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