MDA Correlations
| MDALF Stock | USD 30.60 1.60 5.52% |
The current 90-days correlation between MDA and Smith Wesson Brands is 0.02 (i.e., Significant diversification). The correlation of MDA 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.
MDA Correlation With Market
Poor diversification
The correlation between MDA and DJI is 0.75 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding MDA and DJI in the same portfolio, assuming nothing else is changed.
MDA |
The ability to find closely correlated positions to MDA could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace MDA 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 MDA - 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 MDA to buy it.
Moving together with MDA Pink Sheet
| 0.93 | RTX | Raytheon Technologies | PairCorr |
| 0.8 | BA | Boeing | PairCorr |
| 0.95 | LMT | Lockheed Martin | PairCorr |
| 0.73 | HWM | Howmet Aerospace | PairCorr |
| 0.95 | NOC | Northrop Grumman | PairCorr |
| 0.71 | GD | General Dynamics | PairCorr |
| 0.64 | OTSKY | Otsuka Holdings | PairCorr |
| 0.87 | UAA | Under Armour A | PairCorr |
| 0.89 | CING | Cingulate | PairCorr |
| 0.8 | NINTF | Ninety One Group | PairCorr |
| 0.86 | FLFG | Federal Life Group | PairCorr |
| 0.82 | GFR | Greenfire Resources | PairCorr |
| 0.95 | PALAF | Paladin Energy | PairCorr |
| 0.87 | TYIDF | Toyota Industries Corp | PairCorr |
| 0.93 | TOELF | Tokyo Electron | PairCorr |
| 0.83 | BNL | Broadstone Net Lease | PairCorr |
| 0.7 | SJM | J M Earnings Call Today | PairCorr |
| 0.71 | RRX | Regal Beloit | PairCorr |
| 0.93 | FNV | Franco Nevada | PairCorr |
| 0.93 | SOJE | Southern Company | PairCorr |
| 0.85 | JNJ | Johnson Johnson | PairCorr |
| 0.91 | RHHVF | Roche Holding AG | PairCorr |
| 0.85 | WLK | Westlake Chemical | PairCorr |
| 0.76 | SBYSF | Sibanye Stillwater | PairCorr |
| 0.92 | SNPMF | China Petroleum Chemical | PairCorr |
| 0.68 | HMY | Harmony Gold Mining Earnings Call Tomorrow | PairCorr |
| 0.84 | JOE | St Joe Company | PairCorr |
Moving against MDA Pink Sheet
Related Correlations Analysis
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
| High negative correlations
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Risk-Adjusted Indicators
There is a big difference between MDA Pink Sheet performing well and MDA 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 MDA'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| AIR | 1.52 | 0.53 | 0.45 | 0.44 | 0.78 | 4.20 | 7.12 | |||
| CW | 1.62 | 0.38 | 0.17 | 0.47 | 1.77 | 3.83 | 11.25 | |||
| HXL | 1.33 | 0.37 | 0.19 | 0.91 | 1.40 | 3.15 | 7.72 | |||
| MOG-A | 1.32 | 0.63 | 0.56 | 0.92 | 0.39 | 3.68 | 7.72 | |||
| SWBI | 1.58 | 0.51 | 0.36 | 0.72 | 0.91 | 3.21 | 26.15 | |||
| POWW | 2.11 | 0.20 | 0.07 | 0.31 | 2.26 | 4.92 | 11.64 | |||
| PKE | 2.11 | 0.58 | 0.34 | 0.60 | 1.34 | 4.81 | 13.02 | |||
| POWWP | 0.45 | 0.06 | (0.03) | (0.58) | 0.39 | 1.03 | 3.05 | |||
| NPK | 1.35 | 0.51 | 0.31 | 1.01 | 1.05 | 3.03 | 9.82 | |||
| MNTS | 9.36 | (0.82) | 0.00 | (0.11) | 0.00 | 17.86 | 74.16 |
Be your own money manager
Our tools can tell you how much better you can do entering a position in MDA 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.Did you try this?
Run Analyst Advice Now
Analyst AdviceAnalyst recommendations and target price estimates broken down by several categories |
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MDA Corporate Management
| Minda Suchan | VP Geointelligence | Profile | |
| Mike Pmp | CEO Director | Profile | |
| Cameron Ower | Chief Officer | Profile | |
| MBA CFA | Director Relations | Profile | |
| Martin Herman | VP Counsel | Profile | |
| Ian McLeod | VP Devel | Profile | |
| Amy MacLeod | VP Communications | Profile |