Kinaxis Correlations

KXSCF Stock

USD 93.16 3.44 3.83%

The current 90-days correlation between Kinaxis and Sopra Steria Group is -0.01 (i.e., Good diversification). The correlation of Kinaxis 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.

Kinaxis Correlation With Market

Very good diversification

The correlation between Kinaxis and DJI is -0.26 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Kinaxis and DJI in the same portfolio, assuming nothing else is changed.

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

Moving against Kinaxis Pink Sheet

0.73	PPHI	Positive Physicians	Pair Corr
0.71	CVX	Chevron Corp	Pair Corr
0.68	PG	Procter Gamble	Pair Corr
0.68	HD	Home Depot	Pair Corr
0.65	XOM	Exxon Mobil Corp Aggressive Push	Pair Corr
0.55	INTC	Intel Aggressive Push	Pair Corr
0.52	KO	Coca Cola Aggressive Push	Pair Corr
0.51	VZ	Verizon Communications Aggressive Push	Pair Corr
0.41	BA	Boeing	Pair Corr
0.39	DD	Dupont De Nemours Earnings Call Tomorrow	Pair Corr
0.33	T	ATT Inc Aggressive Push	Pair Corr
0.32	WMT	Walmart Common Stock Aggressive Push	Pair Corr

Related Correlations Analysis

	ASOZY	TCLHF	HPHTF	SPSAF	RNSHF	SUMCF	MLXSF	SHCAY	SUOPY	ASUUY
ASOZY		0.32	-0.08	-0.3	0.08	0.12	-0.25	-0.14	0.11	0.0	ASOZY
TCLHF	0.32		0.33	-0.45	0.68	0.46	0.16	-0.5	0.44	0.0	TCLHF
HPHTF	-0.08	0.33		0.4	0.37	0.55	0.74	-0.12	0.54	0.0	HPHTF
SPSAF	-0.3	-0.45	0.4		-0.46	-0.05	0.35	0.46	0.0	0.0	SPSAF
RNSHF	0.08	0.68	0.37	-0.46		0.65	0.33	-0.52	0.61	0.0	RNSHF
SUMCF	0.12	0.46	0.55	-0.05	0.65		0.64	-0.47	0.95	0.0	SUMCF
MLXSF	-0.25	0.16	0.74	0.35	0.33	0.64		-0.19	0.64	0.0	MLXSF
SHCAY	-0.14	-0.5	-0.12	0.46	-0.52	-0.47	-0.19		-0.47	0.0	SHCAY
SUOPY	0.11	0.44	0.54	0.0	0.61	0.95	0.64	-0.47		0.0	SUOPY
ASUUY	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0		ASUUY
	ASOZY	TCLHF	HPHTF	SPSAF	RNSHF	SUMCF	MLXSF	SHCAY	SUOPY	ASUUY

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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

SUOPY	+ 0.95	SUMCF
MLXSF	+ 0.74	HPHTF
RNSHF	+ 0.68	TCLHF
SUMCF	+ 0.65	RNSHF
MLXSF	+ 0.64	SUMCF
SUOPY	+ 0.64	MLXSF

High negative correlations

SHCAY	- 0.52	RNSHF
SHCAY	- 0.5	TCLHF
SUOPY	- 0.47	SHCAY
SHCAY	- 0.47	SUMCF
RNSHF	- 0.46	SPSAF
SPSAF	- 0.45	TCLHF

Risk-Adjusted Indicators

There is a big difference between Kinaxis Pink Sheet performing well and Kinaxis 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 Kinaxis' 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
ASOZY	0.96	(0.30)	0.00	(0.31)	0.00	0.00	0.00	(1.45)	40.36
TCLHF	4.16	0.81	0.07	(0.55)	5.10	(8.80)	14.39	(10.22)	44.57
HPHTF	1.24	0.01	(0.01)	0.10	2.28	(6.86)	7.48	(4.50)	20.96
SPSAF	0.58	(0.35)	0.00	(0.53)	0.00	0.00	0.00	0.00	19.08
RNSHF	0.61	0.31	0.00	5.34	0.00	0.00	0.00	0.00	9.33
SUMCF	3.63	0.14	0.02	0.39	4.46	(3.93)	7.76	(5.78)	23.68
MLXSF	0.87	(0.20)	0.00	(3.82)	0.00	0.00	0.00	0.00	16.70
SHCAY	2.06	(0.44)	0.00	(1.30)	0.00	0.00	3.67	(4.79)	12.06
SUOPY	2.36	0.20	0.03	0.86	4.25	(2.67)	6.05	(3.90)	20.56
ASUUY	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 Kinaxis 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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