Newhydrogen Correlations

NEWH Stock

USD 0.02 0.0004 2.17%

The current 90-days correlation between Newhydrogen and ADX Energy is -0.1 (i.e., Good diversification). The correlation of Newhydrogen 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.

Newhydrogen Correlation With Market

Very good diversification

The correlation between Newhydrogen and DJI is -0.35 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Newhydrogen and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Newhydrogen OTC Stock

0.65	XNYIF	Xinyi Solar Holdings	Pair Corr
0.79	XISHY	Xinyi Solar Holdings	Pair Corr
0.73	SEDG	SolarEdge Technologies Tech Boost	Pair Corr

Moving against Newhydrogen OTC Stock

0.71	SMTGF	SMA Solar Technology	Pair Corr
0.6	SMTGY	SMA Solar Technology	Pair Corr
0.43	WF	Woori Financial Group	Pair Corr
0.64	KCDMY	Kimberly Clark de	Pair Corr
0.57	WMT	Walmart Common Stock Aggressive Push	Pair Corr
0.54	SHOO	Steven Madden	Pair Corr
0.44	MAT	Mattel Inc Earnings Call Tomorrow	Pair Corr
0.43	OIA	Invesco Municipal Income	Pair Corr
0.43	NTRS	Northern Trust	Pair Corr
0.42	ISSC	Innovative Solutions and Earnings Call This Week	Pair Corr
0.41	ENS	Enersys Earnings Call This Week	Pair Corr
0.81	SPLPP	Steel Partners Holdings	Pair Corr
0.59	CRH	CRH PLC ADR	Pair Corr
0.53	GOOG	Alphabet Class C	Pair Corr
0.52	PGEZF	Group Ten Metals	Pair Corr
0.44	COMP	Compass	Pair Corr
0.38	ANDE	Andersons	Pair Corr

Related Correlations Analysis

	OIGLF	ARGYF	BDCO	GWTI	PTVRF	TAOIF	ADXRF	SPND	ISRJF	UNTC
OIGLF		0.29	-0.31	0.23	0.0	0.15	0.3	0.19	0.03	-0.26	OIGLF
ARGYF	0.29		-0.39	0.19	0.0	0.3	0.5	0.21	0.6	0.38	ARGYF
BDCO	-0.31	-0.39		-0.24	0.0	0.09	0.13	-0.36	0.11	-0.08	BDCO
GWTI	0.23	0.19	-0.24		0.0	0.17	0.18	0.56	-0.18	-0.5	GWTI
PTVRF	0.0	0.0	0.0	0.0		0.0	0.0	0.0	0.0	0.0	PTVRF
TAOIF	0.15	0.3	0.09	0.17	0.0		0.43	0.24	0.61	0.15	TAOIF
ADXRF	0.3	0.5	0.13	0.18	0.0	0.43		0.03	0.47	0.1	ADXRF
SPND	0.19	0.21	-0.36	0.56	0.0	0.24	0.03		-0.08	-0.23	SPND
ISRJF	0.03	0.6	0.11	-0.18	0.0	0.61	0.47	-0.08		0.58	ISRJF
UNTC	-0.26	0.38	-0.08	-0.5	0.0	0.15	0.1	-0.23	0.58		UNTC
	OIGLF	ARGYF	BDCO	GWTI	PTVRF	TAOIF	ADXRF	SPND	ISRJF	UNTC

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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

ISRJF	+ 0.61	TAOIF
ISRJF	+ 0.6	ARGYF
UNTC	+ 0.58	ISRJF
SPND	+ 0.56	GWTI
ADXRF	+ 0.5	ARGYF
ISRJF	+ 0.47	ADXRF

High negative correlations

UNTC	- 0.5	GWTI
BDCO	- 0.39	ARGYF
SPND	- 0.36	BDCO
BDCO	- 0.31	OIGLF
UNTC	- 0.26	OIGLF
GWTI	- 0.24	BDCO

Risk-Adjusted Indicators

There is a big difference between Newhydrogen OTC Stock performing well and Newhydrogen 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 Newhydrogen'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
OIGLF	11.70	3.20	0.07	(0.51)	11.46	(80.00)	50.00	(33.33)	233.33
ARGYF	6.19	0.27	0.02	(0.78)	6.83	(9.53)	11.11	(14.29)	42.86
BDCO	6.25	0.03	0.01	0.10	7.68	(7.27)	16.15	(14.29)	38.72
GWTI	8.92	0.31	0.02	0.26	11.50	(11.77)	25.82	(21.52)	72.84
PTVRF	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
TAOIF	4.95	0.18	0.01	3.01	6.56	(13.81)	16.67	(14.29)	39.29
ADXRF	7.41	1.98	0.00	(1.08)	0.00	0.00	50.00	(13.33)	117.14
SPND	2.33	0.58	0.04	(1.07)	4.35	(8.24)	4.25	(2.56)	47.61
ISRJF	1.45	0.14	0.00	(1.14)	0.00	0.00	0.00	0.00	32.65
UNTC	0.78	0.06	(0.01)	0.46	1.11	(0.81)	2.09	(1.68)	5.62

Be your own money manager

Our tools can tell you how much better you can do entering a position in Newhydrogen 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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Newhydrogen Corporate Management

Elected by the shareholders, the Newhydrogen's board of directors comprises two types of representatives: Newhydrogen inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Newhydrogen. The board's role is to monitor Newhydrogen's management team and ensure that shareholders' interests are well served. Newhydrogen's inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, Newhydrogen's outside directors are responsible for providing unbiased perspectives on the board's policies.

Spencer Hall	COO Director	Profile
Dennis LePon	Co Advisor	Profile
David Lee	Chairman, Founder	Profile
Charles Carraher	Scientific Advisor	Profile

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