Kwesst Micro Correlations

KWE Stock  CAD 0.92  0.03  3.37%   
The current 90-days correlation between Kwesst Micro Systems and AnalytixInsight is -0.13 (i.e., Good diversification). The correlation of Kwesst Micro 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.

Kwesst Micro Correlation With Market

Very good diversification

The correlation between Kwesst Micro Systems and DJI is -0.21 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Kwesst Micro Systems and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to Kwesst Micro could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Kwesst Micro 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 Kwesst Micro - 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 Kwesst Micro Systems to buy it.

Moving against Kwesst Stock

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Related Correlations Analysis

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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   
BN-PFIRUDB
BN-PFIALA-PA
RUDBALA-PA
ALA-PAALY
RUDBXHB
BN-PFIALY
  
High negative correlations   
ERE-UNALY
BN-PFIBYL
RUDBBYL
XHBBYL
ALA-PABYL
GSIALY

Risk-Adjusted Indicators

There is a big difference between Kwesst Stock performing well and Kwesst Micro 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 Kwesst Micro'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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
ALY  10.76  3.19  0.09 (10.38) 10.50 
 33.33 
 125.00 
BYL  3.96 (0.11) 0.00  0.13  0.00 
 7.50 
 34.80 
GSI  2.46 (0.15) 0.00 (0.40) 0.00 
 5.45 
 23.56 
XHB  0.21  0.01 (0.04)(0.99) 0.16 
 0.51 
 1.68 
ALA-PA  0.53  0.20  0.22  2.76  0.37 
 1.25 
 3.09 
ERE-UN  2.00 (0.27) 0.00 (0.56) 0.00 
 3.28 
 54.40 
CLU  0.45  0.00 (0.01) 0.02  0.52 
 1.07 
 5.87 
RUDB  0.27  0.06  0.10  0.99  0.16 
 0.70 
 1.96 
BN-PFI  0.50  0.12  0.20 (3.15) 0.26 
 1.53 
 3.36 
XEG  0.93  0.01 (0.01) 0.07  1.26 
 1.89 
 4.44 

Be your own money manager

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