Nika BioTechnology Correlations

NIKA Stock

USD 0.28 0.00 0.00%

The correlation of Nika BioTechnology 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.

Nika BioTechnology Correlation With Market

Significant diversification

The correlation between Nika BioTechnology and DJI is 0.05 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Nika BioTechnology and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Nika Pink Sheet

0.67

STI

Solidion Technology

Pair Corr

Moving against Nika Pink Sheet

0.5	TEVA	Teva Pharma Industries Aggressive Push	Pair Corr
0.49	TEVA	Teva Pharmaceutical	Pair Corr
0.42	HLNCF	Haleon plc	Pair Corr
0.36	TAK	Takeda Pharmaceutical	Pair Corr
0.34	HLN	Haleon plc Aggressive Push	Pair Corr
0.59	GM	General Motors	Pair Corr
0.54	BAC	Bank of America Aggressive Push	Pair Corr
0.51	AKAM	Akamai Technologies	Pair Corr
0.49	DDS	Dillards,	Pair Corr
0.47	IDN	Intellicheck Mobilisa	Pair Corr
0.46	CHACR	Crane Harbor Acquisition	Pair Corr
0.38	APGE	Apogee Therapeutics,	Pair Corr
0.33	HL	Hecla Mining Aggressive Push	Pair Corr
0.56	REGN	Regeneron Pharmaceuticals	Pair Corr
0.52	RLMD	Relmada Therapeutics	Pair Corr
0.35	EGP	EastGroup Properties	Pair Corr
0.31	NOEM	CO2 Energy Transition	Pair Corr

Related Correlations Analysis

	BHHKF	ABTI	CPHRF	EDTXF	CMVLF	BHCCF	IDGXF	COGZF	FGHQF	PSIQ
BHHKF		0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	BHHKF
ABTI	0.0		0.16	-0.18	0.03	0.0	0.21	-0.01	0.0	0.0	ABTI
CPHRF	0.0	0.16		0.17	-0.72	0.0	-0.27	-0.78	0.0	0.0	CPHRF
EDTXF	0.0	-0.18	0.17		-0.04	0.0	-0.69	-0.06	0.0	0.0	EDTXF
CMVLF	0.0	0.03	-0.72	-0.04		0.0	0.29	0.76	0.0	0.0	CMVLF
BHCCF	0.0	0.0	0.0	0.0	0.0		0.0	0.0	1.0	0.0	BHCCF
IDGXF	0.0	0.21	-0.27	-0.69	0.29	0.0		0.1	0.0	0.0	IDGXF
COGZF	0.0	-0.01	-0.78	-0.06	0.76	0.0	0.1		0.0	0.0	COGZF
FGHQF	0.0	0.0	0.0	0.0	0.0	1.0	0.0	0.0		0.0	FGHQF
PSIQ	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0		PSIQ
	BHHKF	ABTI	CPHRF	EDTXF	CMVLF	BHCCF	IDGXF	COGZF	FGHQF	PSIQ

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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

FGHQF	+ 1.0	BHCCF
COGZF	+ 0.76	CMVLF
IDGXF	+ 0.29	CMVLF
IDGXF	+ 0.21	ABTI
EDTXF	+ 0.17	CPHRF
CPHRF	+ 0.16	ABTI

High negative correlations

COGZF	- 0.78	CPHRF
CMVLF	- 0.72	CPHRF
IDGXF	- 0.69	EDTXF
IDGXF	- 0.27	CPHRF
EDTXF	- 0.18	ABTI
COGZF	- 0.06	EDTXF

Risk-Adjusted Indicators

There is a big difference between Nika Pink Sheet performing well and Nika BioTechnology 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 Nika BioTechnology'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
BHHKF	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
ABTI	94.01	47.14	0.00	5.76	0.00	0.00	0.00	0.00	0.00
CPHRF	1.66	(0.15)	0.00	(0.11)	0.00	0.00	3.95	(2.63)	14.31
EDTXF	3.05	(0.10)	0.00	0.90	0.00	0.00	5.88	(6.86)	37.45
CMVLF	2.42	1.11	0.00	(1.83)	0.00	0.00	0.00	0.00	74.56
BHCCF	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
IDGXF	2.01	0.60	0.00	2.00	0.00	0.00	11.11	(3.08)	30.53
COGZF	2.66	0.41	0.05	0.49	2.99	(9.26)	11.89	(6.54)	34.92
FGHQF	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
PSIQ	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00

Be your own money manager

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

Alan Wilson	Ex Director	Profile
Patricia Wilson	Co Sec	Profile
Scott Rose	CFO Director	Profile
James Geo	Consultant	Profile

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