Next Dynamics Correlations

NEXD Stock

USD 0.04 0.00 0.00%

The correlation of Next Dynamics 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.

Next Dynamics Correlation With Market

Significant diversification

The correlation between Next Dynamics and DJI is 0.07 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Next Dynamics and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Next Pink Sheet

0.61	LMT	Lockheed Martin	Pair Corr
0.65	NOC	Northrop Grumman	Pair Corr
0.84	JD	JD Inc Adr	Pair Corr

Moving against Next Pink Sheet

0.59	WMT	Walmart Common Stock	Pair Corr
0.58	ACN	Accenture plc Sell-off Trend	Pair Corr
0.55	VLKAF	Volkswagen AG	Pair Corr
0.55	VWAGY	Volkswagen AG 110	Pair Corr
0.51	RTX	Raytheon Technologies	Pair Corr
0.39	TDG	Transdigm Group	Pair Corr
0.35	HWM	Howmet Aerospace	Pair Corr
0.81	DNGFF	Dongfang ElectricLimited	Pair Corr
0.8	CSCO	Cisco Systems	Pair Corr
0.76	DGWR	Critic Clothing	Pair Corr
0.73	FTI	TechnipFMC PLC	Pair Corr
0.69	FEMY	Femasys	Pair Corr
0.48	TPB	Turning Point Brands	Pair Corr
0.47	VLKPF	Volkswagen AG VZO	Pair Corr
0.36	TORO	Toro	Pair Corr
0.73	TGI	Triumph Group	Pair Corr
0.72	AAPL	Apple Inc	Pair Corr
0.69	HIRU	Hiru	Pair Corr
0.69	CM	Canadian Imperial Bank	Pair Corr

Related Correlations Analysis

	DEWY	CAPC	BLIS	AMMX	IDGC	PRPI	IWAL	KNOS	HWKE	QPRC
DEWY		0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	DEWY
CAPC	0.0		-0.54	-0.61	0.16	-0.77	0.74	0.11	0.75	-0.35	CAPC
BLIS	0.0	-0.54		0.67	-0.09	0.76	-0.75	-0.42	-0.35	0.37	BLIS
AMMX	0.0	-0.61	0.67		0.02	0.78	-0.79	-0.12	-0.47	0.43	AMMX
IDGC	0.0	0.16	-0.09	0.02		-0.14	0.2	0.1	0.25	0.22	IDGC
PRPI	0.0	-0.77	0.76	0.78	-0.14		-0.92	-0.33	-0.57	0.43	PRPI
IWAL	0.0	0.74	-0.75	-0.79	0.2	-0.92		0.28	0.61	-0.37	IWAL
KNOS	0.0	0.11	-0.42	-0.12	0.1	-0.33	0.28		0.05	0.01	KNOS
HWKE	0.0	0.75	-0.35	-0.47	0.25	-0.57	0.61	0.05		-0.08	HWKE
QPRC	0.0	-0.35	0.37	0.43	0.22	0.43	-0.37	0.01	-0.08		QPRC
	DEWY	CAPC	BLIS	AMMX	IDGC	PRPI	IWAL	KNOS	HWKE	QPRC

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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

PRPI	+ 0.78	AMMX
PRPI	+ 0.76	BLIS
HWKE	+ 0.75	CAPC
IWAL	+ 0.74	CAPC
AMMX	+ 0.67	BLIS
HWKE	+ 0.61	IWAL

High negative correlations

IWAL	- 0.92	PRPI
IWAL	- 0.79	AMMX
PRPI	- 0.77	CAPC
IWAL	- 0.75	BLIS
AMMX	- 0.61	CAPC
HWKE	- 0.57	PRPI

Risk-Adjusted Indicators

There is a big difference between Next Pink Sheet performing well and Next Dynamics 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 Next Dynamics' 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
DEWY	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
CAPC	10.44	(0.68)	0.00	(0.07)	0.00	0.00	24.00	(21.05)	117.05
BLIS	72.95	44.16	1.11	(0.24)	18.75	(139.58)	42.86	(30.00)	2,435
AMMX	3.39	0.47	0.04	(0.92)	3.63	(11.65)	13.40	(7.69)	30.68
IDGC	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
PRPI	2.23	0.94	0.00	(4.39)	0.00	0.00	0.00	0.00	46.58
IWAL	2.15	(0.29)	0.00	0.29	0.00	0.00	3.64	(8.67)	35.91
KNOS	10.11	0.86	0.07	1.33	9.85	(14.26)	25.81	(16.22)	104.89
HWKE	3.58	(0.95)	0.00	(0.93)	0.00	0.00	9.38	(13.33)	50.95
QPRC	26.10	8.09	0.14	(1.91)	21.70	(79.58)	128.57	(63.64)	248.04

Be your own money manager

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