MedMira Correlations

MMIRF Stock

USD 0.06 0.00 0.00%

The current 90-days correlation between MedMira and Tempest Therapeutics is 0.14 (i.e., Average 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

Good diversification

The correlation between MedMira and DJI is -0.11 (i.e., 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 together with MedMira Pink Sheet

0.69	TRV	The Travelers Companies Fiscal Year End 17th of January 2025	Pair Corr
0.72	WMT	Walmart Aggressive Push	Pair Corr
0.62	AXP	American Express Fiscal Year End 24th of January 2025	Pair Corr

Moving against MedMira Pink Sheet

0.82	BA	Boeing Fiscal Year End 29th of January 2025	Pair Corr
0.78	EC	Ecopetrol SA ADR	Pair Corr
0.64	SHG	Shinhan Financial	Pair Corr
0.64	WF	Woori Financial Group	Pair Corr
0.55	MRK	Merck Company Fiscal Year End 6th of February 2025	Pair Corr
0.41	JNJ	Johnson Johnson Sell-off Trend	Pair Corr
0.4	VFSWW	VinFast Auto	Pair Corr
0.4	HYMTF	Hyundai Motor	Pair Corr
0.34	TLK	Telkom Indonesia Tbk	Pair Corr
0.31	TCHH	Trustcash Holdings	Pair Corr

Related Correlations Analysis

	RZLT	TPST	FBRX	DYAI	DMAC	SILO	MOLN	MLYS
RZLT		-0.51	-0.35	-0.42	0.4	-0.03	0.25	0.51	RZLT
TPST	-0.51		0.16	0.2	-0.13	0.21	-0.19	-0.43	TPST
FBRX	-0.35	0.16		0.88	-0.54	0.07	0.07	-0.6	FBRX
DYAI	-0.42	0.2	0.88		-0.56	0.34	0.27	-0.54	DYAI
DMAC	0.4	-0.13	-0.54	-0.56		-0.41	-0.3	0.57	DMAC
SILO	-0.03	0.21	0.07	0.34	-0.41		0.67	-0.11	SILO
MOLN	0.25	-0.19	0.07	0.27	-0.3	0.67		0.11	MOLN
MLYS	0.51	-0.43	-0.6	-0.54	0.57	-0.11	0.11		MLYS
	RZLT	TPST	FBRX	DYAI	DMAC	SILO	MOLN	MLYS

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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

DYAI	+ 0.88	FBRX
MOLN	+ 0.67	SILO
MLYS	+ 0.57	DMAC
MLYS	+ 0.51	RZLT
DMAC	+ 0.4	RZLT
SILO	+ 0.34	DYAI

High negative correlations

MLYS	- 0.6	FBRX
DMAC	- 0.56	DYAI
MLYS	- 0.54	DYAI
DMAC	- 0.54	FBRX
TPST	- 0.51	RZLT
MLYS	- 0.43	TPST

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
RZLT	2.90	0.09	0.04	0.16	3.10	(3.34)	6.81	(5.54)	30.01
TPST	3.86	(0.75)	0.00	(0.59)	0.00	0.00	6.38	(8.53)	29.55
FBRX	5.69	1.57	0.39	1.00	3.43	(8.77)	6.65	(6.33)	18.12
DYAI	3.56	0.43	0.09	1.24	3.72	(4.39)	8.57	(7.20)	16.89
DMAC	2.22	0.24	0.05	(0.67)	2.26	(2.51)	4.94	(3.29)	12.63
SILO	3.71	(0.49)	0.00	(5.77)	0.00	0.00	6.31	(10.57)	23.28
MOLN	4.73	(0.11)	(0.02)	0.00	5.15	(6.52)	9.61	(8.53)	52.92
MLYS	2.62	(0.08)	0.02	0.07	3.43	(2.63)	6.27	(5.79)	20.98

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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