NEXE Innovations Correlations
| NEXNF Stock | USD 0.09 0.01 8.67% |
The correlation of NEXE Innovations 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.
NEXE Innovations Correlation With Market
Pay attention - limited upside
The correlation between NEXE Innovations and DJI is -0.82 (i.e., Pay attention - limited upside) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding NEXE Innovations and DJI in the same portfolio, assuming nothing else is changed.
NEXE |
The ability to find closely correlated positions to NEXE Innovations could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace NEXE Innovations 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 NEXE Innovations - 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 NEXE Innovations to buy it.
Moving together with NEXE OTC Stock
Moving against NEXE OTC Stock
| 0.9 | LION | Lionsgate Studios Holding | PairCorr |
| 0.83 | DBRG | Digitalbridge Group Earnings Call This Week | PairCorr |
| 0.82 | ONTF | ON24 Inc | PairCorr |
| 0.81 | ALEEF | Alerio Gold Corp | PairCorr |
| 0.79 | CDE | Coeur Mining Aggressive Push | PairCorr |
| 0.75 | GRFS | Grifols SA ADR | PairCorr |
| 0.73 | PKG | Packaging Corp | PairCorr |
| 0.73 | BALL | Ball | PairCorr |
| 0.72 | CCK | Crown Holdings | PairCorr |
| 0.67 | IP | International Paper Sell-off Trend | PairCorr |
| 0.67 | OIA | Invesco Municipal Income | PairCorr |
| 0.65 | RNR | Renaissancere Holdings | PairCorr |
| 0.63 | DALXF | Spartan Delta Corp Earnings Call This Week | PairCorr |
| 0.59 | CUB | Lionheart Holdings | PairCorr |
| 0.56 | YUMC | Yum China Holdings | PairCorr |
| 0.55 | ENDMF | Enduro Metals | PairCorr |
| 0.52 | BWXT | BWX Technologies | PairCorr |
| 0.5 | NGPHF | Northern Graphite | PairCorr |
| 0.49 | AMCR | Amcor PLC | PairCorr |
| 0.45 | SYY | Sysco | PairCorr |
| 0.43 | GME | GameStop Corp | PairCorr |
| 0.42 | SRRLF | Sirius Real Estate | PairCorr |
| 0.88 | NTRS | Northern Trust | PairCorr |
| 0.86 | ISSC | Innovative Solutions and | PairCorr |
| 0.84 | BK | Bank of New York | PairCorr |
| 0.83 | ISFFF | ISS A/S Earnings Call This Week | PairCorr |
| 0.81 | MAZE | Maze Therapeutics Common | PairCorr |
| 0.8 | BKWAF | BKW AG | PairCorr |
| 0.79 | GOOG | Alphabet Class C | PairCorr |
| 0.79 | TSBK | Timberland Bancorp | PairCorr |
| 0.74 | SMTGF | SMA Solar Technology | PairCorr |
Related Correlations Analysis
| 0.0 | 0.08 | 0.0 | -0.03 | 0.08 | VDRFF | ||
| 0.0 | 0.0 | 1.0 | 0.0 | 0.0 | PNDXF | ||
| 0.08 | 0.0 | 0.0 | -0.51 | -0.38 | NGCRY | ||
| 0.0 | 1.0 | 0.0 | 0.0 | 0.0 | WLWHF | ||
| -0.03 | 0.0 | -0.51 | 0.0 | 0.61 | BLWYY | ||
| 0.08 | 0.0 | -0.38 | 0.0 | 0.61 | ZHSHF | ||
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 NEXE OTC Stock performing well and NEXE Innovations 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 NEXE Innovations' 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| VDRFF | 0.12 | (0.01) | 0.00 | 0.19 | 0.00 | 0.00 | 2.64 | |||
| PNDXF | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
| NGCRY | 0.40 | (0.17) | 0.00 | (0.56) | 0.00 | 0.00 | 13.32 | |||
| WLWHF | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
| BLWYY | 0.12 | 0.02 | 0.00 | 2.22 | 0.00 | 0.00 | 4.12 | |||
| ZHSHF | 0.31 | 0.15 | 0.00 | 28.29 | 0.00 | 0.00 | 10.37 |
Be your own money manager
Our tools can tell you how much better you can do entering a position in NEXE Innovations 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.Did you try this?
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NEXE Innovations Corporate Management
Elected by the shareholders, the NEXE Innovations' board of directors comprises two types of representatives: NEXE Innovations inside directors who are chosen from within the company, and outside directors, selected externally and held independent of NEXE. The board's role is to monitor NEXE Innovations' management team and ensure that shareholders' interests are well served. NEXE Innovations' inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, NEXE Innovations' outside directors are responsible for providing unbiased perspectives on the board's policies.
| Kam Mangat | VP Strategy | Profile | |
| Darren Footz | CEO CoFounder | Profile | |
| Ashvani Guglani | President, CoFounder | Profile | |
| Zac BSc | Chief Officer | Profile | |
| Chris Murray | VP Marketing | Profile |