Manatron Correlations

MANA Stock

USD 0.91 0.06 6.19%

The correlation of Manatron 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.

Manatron Correlation With Market

Excellent diversification

The correlation between Manatron and DJI is -0.61 (i.e., Excellent diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Manatron and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Manatron OTC Stock

0.72	PBCRY	Bank Central Asia	Pair Corr
0.65	POFCY	Petrofac ADR	Pair Corr

Moving against Manatron OTC Stock

0.79	AMTM	Amentum Holdings Downward Rally	Pair Corr
0.62	QXO	QXO Inc Upward Rally	Pair Corr
0.58	TLKMF	Telkom Indonesia Tbk	Pair Corr
0.54	PPERY	Bank Mandiri Persero	Pair Corr
0.53	CHYM	Chime Financial Class	Pair Corr
0.47	KSPI	Joint Stock	Pair Corr
0.76	ISFFF	ISS A/S Earnings Call This Week	Pair Corr
0.7	TOLWF	Trican Well Service Earnings Call This Week	Pair Corr
0.69	ISSC	Innovative Solutions and	Pair Corr
0.66	ANDE	Andersons Earnings Call This Week	Pair Corr
0.65	RNR	Renaissancere Holdings	Pair Corr
0.59	EPD	Enterprise Products	Pair Corr
0.56	06407EAE5	BZLNZ 2285 27	Pair Corr
0.52	MLTX	MoonLake Immunotherapeuti	Pair Corr
0.45	GME	GameStop Corp	Pair Corr
0.37	SHOO	Steven Madden Earnings Call This Week	Pair Corr
0.36	ENDMF	Enduro Metals	Pair Corr
0.86	MAZE	Maze Therapeutics Common	Pair Corr
0.79	SMTGF	SMA Solar Technology	Pair Corr
0.78	WMT	Walmart Common Stock Earnings Call This Week	Pair Corr
0.68	BK	Bank of New York	Pair Corr

Related Correlations Analysis

	FILG	GLIV	GBAT	HZEN	GLNK	DOMR	CATKU
FILG		0.92	0.63	0.78	0.94	0.75	0.0	FILG
GLIV	0.92		0.49	0.73	0.96	0.79	0.0	GLIV
GBAT	0.63	0.49		0.31	0.47	0.56	0.0	GBAT
HZEN	0.78	0.73	0.31		0.81	0.51	0.0	HZEN
GLNK	0.94	0.96	0.47	0.81		0.72	0.0	GLNK
DOMR	0.75	0.79	0.56	0.51	0.72		0.0	DOMR
CATKU	0.0	0.0	0.0	0.0	0.0	0.0		CATKU
	FILG	GLIV	GBAT	HZEN	GLNK	DOMR	CATKU

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

GLNK	+ 0.96	GLIV
GLNK	+ 0.94	FILG
GLIV	+ 0.92	FILG
GLNK	+ 0.81	HZEN
DOMR	+ 0.79	GLIV
HZEN	+ 0.78	FILG

High negative correlations

CATKU	- 0.0	DOMR
CATKU	- 0.0	GLNK
CATKU	- 0.0	HZEN
CATKU	- 0.0	GBAT
CATKU	- 0.0	GLIV
CATKU	- 0.0	FILG

Risk-Adjusted Indicators

There is a big difference between Manatron OTC Stock performing well and Manatron OTC Stock 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 Manatron'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	Treynor Ratio	Potential Upside	Value @Risk	Maximum Drawdown
FILG	5.79	(1.08)	(0.39)	11.92	(11.96)	76.11
GLIV	5.44	(1.79)	(0.29)	10.08	(13.64)	45.09
GBAT	6.32	(0.84)	(1.29)	15.18	(12.92)	35.81
HZEN	7.19	(1.26)	(1.26)	19.71	(17.36)	52.26
GLNK	4.24	(1.70)	(0.50)	7.79	(12.03)	29.59
DOMR	1.49	(0.63)	0.50	0.00	0.00	50.00
CATKU	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 Manatron 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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