EnWave Correlations

NWVCF Stock

USD 0.28 0.01 3.45%

The current 90-days correlation between EnWave and Greenlane Renewables is -0.08 (i.e., Good diversification). The correlation of EnWave 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.

EnWave Correlation With Market

Significant diversification

The correlation between EnWave and DJI is 0.02 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding EnWave and DJI in the same portfolio, assuming nothing else is changed.

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

Moving against EnWave Pink Sheet

0.36	CYPS	Cyclo3pss	Pair Corr
0.61	WOLF	Wolfspeed,	Pair Corr
0.33	SWRM	Appswarm	Pair Corr
0.31	ADC	Agree Realty	Pair Corr

Related Correlations Analysis

	PYRGF	GRNWF	AUSI	BRRN	GCEI	CVAT	QBAK	VCIGF	GTII	TOOD
PYRGF		0.18	-0.27	-0.01	0.2	-0.64	0.64	-0.41	-0.05	0.0	PYRGF
GRNWF	0.18		0.68	0.33	-0.3	-0.5	-0.23	-0.34	0.61	0.0	GRNWF
AUSI	-0.27	0.68		0.46	-0.62	-0.15	-0.71	-0.15	0.69	0.0	AUSI
BRRN	-0.01	0.33	0.46		-0.06	-0.38	-0.2	-0.04	0.5	0.0	BRRN
GCEI	0.2	-0.3	-0.62	-0.06		-0.04	0.68	0.08	-0.57	0.0	GCEI
CVAT	-0.64	-0.5	-0.15	-0.38	-0.04		-0.27	0.46	-0.32	0.0	CVAT
QBAK	0.64	-0.23	-0.71	-0.2	0.68	-0.27		-0.19	-0.53	0.0	QBAK
VCIGF	-0.41	-0.34	-0.15	-0.04	0.08	0.46	-0.19		-0.22	0.0	VCIGF
GTII	-0.05	0.61	0.69	0.5	-0.57	-0.32	-0.53	-0.22		0.0	GTII
TOOD	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0		TOOD
	PYRGF	GRNWF	AUSI	BRRN	GCEI	CVAT	QBAK	VCIGF	GTII	TOOD

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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

GTII	+ 0.69	AUSI
AUSI	+ 0.68	GRNWF
QBAK	+ 0.68	GCEI
QBAK	+ 0.64	PYRGF
GTII	+ 0.61	GRNWF
GTII	+ 0.5	BRRN

High negative correlations

QBAK	- 0.71	AUSI
CVAT	- 0.64	PYRGF
GCEI	- 0.62	AUSI
GTII	- 0.57	GCEI
GTII	- 0.53	QBAK
CVAT	- 0.5	GRNWF

Risk-Adjusted Indicators

There is a big difference between EnWave Pink Sheet performing well and EnWave 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 EnWave'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
PYRGF	4.56	0.45	0.07	0.61	4.09	(9.91)	11.76	(7.14)	35.75
GRNWF	3.82	(0.29)	0.00	(8.20)	0.00	0.00	7.14	(11.11)	29.41
AUSI	8.79	(1.52)	0.00	0.65	0.00	0.00	21.43	(20.00)	66.48
BRRN	1.69	(0.36)	0.00	(1.46)	0.00	0.00	0.95	0.00	32.03
GCEI	7.04	0.38	0.07	0.16	6.60	(8.89)	17.33	(12.00)	52.75
CVAT	5.04	(0.19)	0.00	(0.07)	0.00	0.00	16.67	(16.67)	57.50
QBAK	3.42	0.43	0.06	0.42	4.44	(6.43)	13.31	(5.24)	43.61
VCIGF	1.11	0.13	0.00	(0.23)	2.89	(5.34)	2.16	(2.12)	26.30
GTII	310.26	161.00	3.25	1.75	39.89	(597.73)	300.00	(75.00)	9,772
TOOD	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 EnWave 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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EnWave Corporate Management

Mehmet PEng	Chief Engineer	Profile
MBA BE	Ex Chairman	Profile
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