KDA Correlations

KDA Stock

CAD 0.16 0.01 6.67%

The current 90-days correlation between KDA Group and Star Diamond Corp is 0.19 (i.e., Average diversification). The correlation of KDA 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. If the correlation is 0, the equities are not correlated; they are entirely random.

KDA Correlation With Market

Excellent diversification

The correlation between KDA Group and DJI is -0.7 (i.e., Excellent diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding KDA Group and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with KDA Stock

0.69	MSFT	Microsoft CDR	Pair Corr
0.69	MSFT	Microsoft Corp CDR	Pair Corr

Moving against KDA Stock

0.8	PGDC	Patagonia Gold Corp	Pair Corr
0.78	HLF	High Liner Foods	Pair Corr
0.78	ATX	ATEX Resources	Pair Corr
0.74	TUO	Teuton Resources Corp	Pair Corr
0.73	BPF-UN	Boston Pizza Royalties	Pair Corr
0.71	NSE	New Stratus Energy	Pair Corr
0.7	WMT	Walmart Inc CDR	Pair Corr
0.7	BN-PC	Brookfield	Pair Corr
0.7	IFA	iFabric Corp	Pair Corr
0.67	PML	Panoro Minerals	Pair Corr
0.65	FTEC	Fintech Select	Pair Corr
0.63	FFU	F4 Uranium Corp	Pair Corr
0.62	PSLV	Sprott Physical Silver	Pair Corr
0.6	GKO	Geekco Technologies Corp	Pair Corr
0.59	AZT	Aztec Minerals Corp	Pair Corr
0.57	MOLY	Greenland Resources	Pair Corr
0.56	GIG	XAU Resources	Pair Corr
0.53	CBR	Cabral Gold	Pair Corr
0.48	GLD	GoldOn Resources	Pair Corr
0.47	TUF	Honey Badger Silver	Pair Corr
0.77	MU	Micron Technology	Pair Corr
0.76	MDM	Madoro Metals Corp	Pair Corr
0.76	CJT	Cargojet	Pair Corr
0.75	TOT	Total Energy Services	Pair Corr
0.74	GUG	Gungnir Resources	Pair Corr
0.73	NAR	North Arrow Minerals	Pair Corr
0.73	SLF-PJ	Sun Life Financial	Pair Corr
0.72	PESO	Pesorama	Pair Corr
0.71	LNR	Linamar Earnings Call This Week	Pair Corr
0.7	RUP	Rupert Resources	Pair Corr

Related Correlations Analysis

	DELX	DIAM	CTF-UN	MAXQ
DELX		0.34	0.53	0.5	DELX
DIAM	0.34		0.29	0.18	DIAM
CTF-UN	0.53	0.29		0.86	CTF-UN
MAXQ	0.5	0.18	0.86		MAXQ
	DELX	DIAM	CTF-UN	MAXQ

Risk-Adjusted Indicators

There is a big difference between KDA Stock performing well and KDA 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 KDA'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
DELX	6.34	0.83	0.06	2.08	6.58	(15.82)	15.38	(14.29)	70.00
DIAM	6.96	0.53	0.01	(1.61)	9.26	(33.33)	33.33	(25.00)	58.33
CTF-UN	1.30	0.10	0.02	0.35	1.52	(1.59)	3.28	(2.61)	8.01
MAXQ	4.76	1.05	0.15	0.78	5.04	(6.84)	15.22	(8.70)	37.55

Be your own money manager

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