Nextgen Food Correlations

NGRBF Stock

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The current 90-days correlation between Nextgen Food Robotics and Harmony Gold Mining is -0.02 (i.e., Good diversification). The correlation of Nextgen Food 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.

Nextgen Food Correlation With Market

Very good diversification

The correlation between Nextgen Food Robotics 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 Nextgen Food Robotics and DJI in the same portfolio, assuming nothing else is changed.

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

Moving against Nextgen Pink Sheet

0.53	TOGOF	TomaGold	Pair Corr
0.48	YLLXF	Yellow Cake plc	Pair Corr
0.47	TSM	Taiwan Semiconductor	Pair Corr
0.47	UMAC	Unusual Machines Tech Boost	Pair Corr
0.46	CYD	China Yuchai Interna Earnings Call This Week	Pair Corr
0.43	ZDZT	Zhengduozhe Technology	Pair Corr
0.42	GAYMF	Galway Metals	Pair Corr
0.42	BNEFF	Bonterra Energy Corp	Pair Corr
0.38	USPH	US Physicalrapy	Pair Corr
0.36	NVDA	NVIDIA Earnings Call This Week	Pair Corr
0.35	GS	Goldman Sachs Group	Pair Corr
0.34	GRBK	Green Brick Partners Earnings Call This Week	Pair Corr
0.33	GOOG	Alphabet Class C	Pair Corr
0.32	INTC	Intel	Pair Corr
0.6	TATT	Tat Techno	Pair Corr
0.56	BLAGF	Blue Lagoon Resources	Pair Corr
0.47	PRTS	CarPartsCom	Pair Corr
0.47	NNBR	NN Inc	Pair Corr
0.45	CAMZF	Camino Minerals	Pair Corr
0.42	LAND	Gladstone Land Earnings Call This Week	Pair Corr
0.42	PYTCY	Playtech PLC ADR	Pair Corr
0.41	AES	AES Earnings Call This Week	Pair Corr
0.4	BBDO	Banco Bradesco SA	Pair Corr
0.4	FRFFF	Fairfax Financial	Pair Corr
0.4	NTZ	Natuzzi SpA	Pair Corr

Related Correlations Analysis

	CTYMF	HUSIF	B	SCSC	ZIJMF	PNR	EFRMF	HGMCF
CTYMF		0.58	0.63	-0.07	0.74	-0.04	-0.77	0.72	CTYMF
HUSIF	0.58		0.63	-0.25	0.82	-0.41	-0.73	0.73	HUSIF
B	0.63	0.63		0.04	0.87	0.06	-0.7	0.69	B
SCSC	-0.07	-0.25	0.04		-0.22	0.45	0.17	0.02	SCSC
ZIJMF	0.74	0.82	0.87	-0.22		-0.19	-0.87	0.73	ZIJMF
PNR	-0.04	-0.41	0.06	0.45	-0.19		0.24	-0.32	PNR
EFRMF	-0.77	-0.73	-0.7	0.17	-0.87	0.24		-0.73	EFRMF
HGMCF	0.72	0.73	0.69	0.02	0.73	-0.32	-0.73		HGMCF
	CTYMF	HUSIF	B	SCSC	ZIJMF	PNR	EFRMF	HGMCF

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

ZIJMF	+ 0.87	B
ZIJMF	+ 0.82	HUSIF
ZIJMF	+ 0.74	CTYMF
HGMCF	+ 0.73	HUSIF
HGMCF	+ 0.73	ZIJMF
HGMCF	+ 0.72	CTYMF

High negative correlations

EFRMF	- 0.87	ZIJMF
EFRMF	- 0.77	CTYMF
HGMCF	- 0.73	EFRMF
EFRMF	- 0.73	HUSIF
EFRMF	- 0.7	B
PNR	- 0.41	HUSIF

Risk-Adjusted Indicators

There is a big difference between Nextgen Pink Sheet performing well and Nextgen Food 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 Nextgen Food'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
CTYMF	2.55	0.36	0.06	1.01	2.95	(4.83)	6.56	(4.54)	37.35
HUSIF	2.86	0.59	0.17	1.45	2.42	(4.41)	6.98	(4.76)	21.13
B	2.03	0.36	0.10	0.40	3.23	(2.02)	4.37	(4.74)	20.22
SCSC	1.76	(0.25)	0.00	(0.05)	0.00	0.00	3.06	(4.60)	22.72
ZIJMF	2.64	0.37	0.10	0.33	3.28	(2.89)	6.34	(4.76)	18.93
PNR	1.29	(0.11)	0.00	(0.01)	0.00	0.00	2.77	(2.66)	13.49
EFRMF	0.48	(0.28)	0.00	(0.67)	0.00	0.00	0.00	0.00	15.97
HGMCF	1.53	0.29	0.02	(0.45)	2.59	(5.86)	5.14	(3.27)	34.09

Nextgen Food Related Equities

One of the popular trading techniques among algorithmic traders is to use market-neutral strategies where every trade hedges away some risk. Because there are two separate transactions required, even if one position performs unexpectedly, the other equity can make up some of the losses. Below are some of the equities that can be combined with Nextgen Food pink sheet to make a market-neutral strategy. Peer analysis of Nextgen Food could also be used in its relative valuation, which is a method of valuing Nextgen Food by comparing valuation metrics with similar companies.

Catalyst Metals Limited Nicola Mining Barrick Mining ScanSource Zijin Mining Group Pentair PLC East Africa Metals Harmony Gold Mining American Airlines Group Alcoa Corp Apple Inc Best Buy Co Citigroup SentinelOne CVS Health Corp

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