MedMira Correlations

MMIRF Stock

USD 0.01 0.00 0.00%

The current 90-days correlation between MedMira and Cynata Therapeutics Limited is -0.18 (i.e., Good diversification). The correlation of MedMira 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.

MedMira Correlation With Market

Very good diversification

The correlation between MedMira and DJI is -0.28 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding MedMira and DJI in the same portfolio, assuming nothing else is changed.

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

Moving against MedMira Pink Sheet

0.56	INTC	Intel	Pair Corr
0.47	HD	Home Depot	Pair Corr
0.44	XOM	Exxon Mobil Corp Aggressive Push	Pair Corr
0.44	CAT	Caterpillar	Pair Corr
0.4	BA	Boeing	Pair Corr
0.37	DD	Dupont De Nemours	Pair Corr
0.36	AMCCF	Amcor plc	Pair Corr
0.34	AA	Alcoa Corp	Pair Corr
0.33	WMT	Walmart Common Stock Earnings Call Next Week	Pair Corr
0.33	JNJ	Johnson Johnson	Pair Corr

Related Correlations Analysis

	CYYNF	SEOVF	PVCT	DTCFF	MDDVF	NVYTF	DSOL	RDGL	TLTFF	CBSTF
CYYNF		0.25	-0.49	-0.23	0.39	-0.32	0.6	-0.09	0.0	-0.19	CYYNF
SEOVF	0.25		-0.45	-0.44	0.73	-0.6	0.7	0.03	0.0	-0.36	SEOVF
PVCT	-0.49	-0.45		0.75	-0.53	0.54	-0.66	0.04	0.0	0.08	PVCT
DTCFF	-0.23	-0.44	0.75		-0.64	0.67	-0.51	0.2	0.0	-0.01	DTCFF
MDDVF	0.39	0.73	-0.53	-0.64		-0.79	0.69	-0.06	0.0	-0.35	MDDVF
NVYTF	-0.32	-0.6	0.54	0.67	-0.79		-0.63	0.02	0.0	0.17	NVYTF
DSOL	0.6	0.7	-0.66	-0.51	0.69	-0.63		-0.12	0.0	-0.28	DSOL
RDGL	-0.09	0.03	0.04	0.2	-0.06	0.02	-0.12		0.0	0.07	RDGL
TLTFF	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0		0.0	TLTFF
CBSTF	-0.19	-0.36	0.08	-0.01	-0.35	0.17	-0.28	0.07	0.0		CBSTF
	CYYNF	SEOVF	PVCT	DTCFF	MDDVF	NVYTF	DSOL	RDGL	TLTFF	CBSTF

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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

DTCFF	+ 0.75	PVCT
MDDVF	+ 0.73	SEOVF
DSOL	+ 0.7	SEOVF
DSOL	+ 0.69	MDDVF
NVYTF	+ 0.67	DTCFF
DSOL	+ 0.6	CYYNF

High negative correlations

NVYTF	- 0.79	MDDVF
DSOL	- 0.66	PVCT
MDDVF	- 0.64	DTCFF
DSOL	- 0.63	NVYTF
NVYTF	- 0.6	SEOVF
MDDVF	- 0.53	PVCT

Risk-Adjusted Indicators

There is a big difference between MedMira Pink Sheet performing well and MedMira 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 MedMira'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
CYYNF	2.24	1.05	0.00	1.12	0.00	0.00	0.00	0.00	46.67
SEOVF	3.53	0.46	0.02	(0.22)	4.13	(9.94)	10.00	(9.09)	28.33
PVCT	4.81	(0.57)	0.00	2.14	0.00	0.00	13.11	(9.52)	32.52
DTCFF	3.86	(0.42)	0.00	1.88	0.00	0.00	8.62	(7.14)	25.11
MDDVF	0.73	0.21	0.00	0.47	0.00	0.00	0.00	0.00	23.33
NVYTF	0.19	(0.09)	0.00	0.44	0.00	0.00	0.00	0.00	5.88
DSOL	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
RDGL	3.32	(0.17)	0.00	1.84	0.00	0.00	8.68	(7.69)	24.39
TLTFF	4.29	0.93	0.08	2.54	4.35	(10.32)	10.00	(9.52)	38.57
CBSTF	10.69	1.13	0.06	(0.33)	12.14	(13.93)	25.86	(16.30)	137.60

Be your own money manager

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