Megatech Corp Correlations
| MGTC Stock | USD 0.07 0.00 0.00% |
The correlation of Megatech Corp 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.
Megatech Corp Correlation With Market
Very poor diversification
The correlation between Megatech Corp and DJI is 0.84 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Megatech Corp and DJI in the same portfolio, assuming nothing else is changed.
Megatech |
The ability to find closely correlated positions to Megatech Corp could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Megatech Corp 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 Megatech Corp - 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 Megatech Corp to buy it.
Moving together with Megatech Pink Sheet
| 0.78 | YLLXF | Yellow Cake plc Downward Rally | PairCorr |
| 0.61 | BFS | Saul Centers | PairCorr |
| 0.67 | JOE | St Joe Company | PairCorr |
| 0.74 | TORO | Toro | PairCorr |
| 0.82 | GS | Goldman Sachs Group | PairCorr |
| 0.72 | MEEEF | Metal Energy Corp | PairCorr |
| 0.76 | BLAGF | Blue Lagoon Resources | PairCorr |
| 0.69 | FRSB | First Resource Bank | PairCorr |
| 0.78 | TSM | Taiwan Semiconductor Aggressive Push | PairCorr |
| 0.81 | USPH | US Physicalrapy | PairCorr |
| 0.68 | CGECF | Cogeco Inc | PairCorr |
| 0.77 | TOGOF | TomaGold | PairCorr |
| 0.79 | UMAC | Unusual Machines | PairCorr |
| 0.66 | DUK-PA | Duke Energy | PairCorr |
| 0.65 | INTC | Intel | PairCorr |
| 0.72 | FRFFF | Fairfax Financial | PairCorr |
Moving against Megatech Pink Sheet
| 0.63 | PBCRF | PT Bank Central | PairCorr |
| 0.46 | AFIIQ | Armstrong Flooring | PairCorr |
| 0.43 | CMWCF | Cromwell Property | PairCorr |
| 0.51 | WELL | Welltower Earnings Call This Week | PairCorr |
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 Megatech Pink Sheet performing well and Megatech Corp 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 Megatech Corp'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| GRNH | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
| SGLS | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
| EAWD | 21.64 | 9.11 | 0.00 | (2.97) | 0.00 | 100.00 | 480.00 | |||
| LNGT | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
| SBDG | 2.08 | 0.48 | 0.00 | (0.30) | 0.00 | 0.00 | 62.07 | |||
| HCGS | 5.96 | 1.70 | 0.00 | (1.51) | 0.00 | 0.00 | 166.67 | |||
| XLPI | 19.35 | 7.70 | 0.00 | 0.46 | 0.00 | 0.00 | 575.00 | |||
| UITA | 6.00 | 2.11 | 0.00 | (1.16) | 0.00 | 0.00 | 266.67 | |||
| WOAM | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
| BWOWF | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
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