Next Science Correlations

NXSCF Stock

USD 0.01 0.01 50.00%

The correlation of Next Science 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 Science Correlation With Market

Very good diversification

The correlation between Next Science Limited and DJI is -0.45 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Next Science Limited and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to Next Science 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 Science 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 Science - 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 Science Limited to buy it.

Moving against Next Pink Sheet

0.66	TKPHF	Takeda Pharmaceutical	Pair Corr
0.55	TEVA	Teva Pharmaceutical	Pair Corr
0.51	TAK	Takeda Pharmaceutical	Pair Corr
0.47	TEVA	Teva Pharma Industries Sell-off Trend	Pair Corr
0.42	HLN	Haleon plc Aggressive Push	Pair Corr
0.4	HLNCF	Haleon plc	Pair Corr
0.36	ABEV	Ambev SA ADR Earnings Call This Week	Pair Corr
0.35	MKKGY	Merck KGaA ADR	Pair Corr
0.32	F	Ford Motor	Pair Corr
0.58	MRK	Merck Company Aggressive Push	Pair Corr
0.54	WMT	Walmart Common Stock Aggressive Push	Pair Corr
0.52	BAC	Bank of America Aggressive Push	Pair Corr
0.48	AA	Alcoa Corp	Pair Corr
0.47	VZ	Verizon Communications Aggressive Push	Pair Corr
0.42	BA	Boeing	Pair Corr
0.41	CVX	Chevron Corp	Pair Corr
0.39	CSCO	Cisco Systems Earnings Call Tomorrow	Pair Corr
0.34	INTC	Intel Aggressive Push	Pair Corr

Related Correlations Analysis

	EOFBF	CNTMF	WOWU	ELXMF	CWBHF	HSTI	PVCT	MEDIF	AHGIF	ITHUF
EOFBF		0.0	1.0	0.0	0.0	1.0	0.0	0.0	1.0	0.0	EOFBF
CNTMF	0.0		0.0	0.07	-0.41	0.0	0.45	0.17	0.0	0.44	CNTMF
WOWU	1.0	0.0		0.0	0.0	1.0	0.0	0.0	1.0	0.0	WOWU
ELXMF	0.0	0.07	0.0		-0.82	0.0	0.56	-0.56	0.0	0.37	ELXMF
CWBHF	0.0	-0.41	0.0	-0.82		0.0	-0.73	0.54	0.0	-0.64	CWBHF
HSTI	1.0	0.0	1.0	0.0	0.0		0.0	0.0	1.0	0.0	HSTI
PVCT	0.0	0.45	0.0	0.56	-0.73	0.0		-0.22	0.0	0.55	PVCT
MEDIF	0.0	0.17	0.0	-0.56	0.54	0.0	-0.22		0.0	-0.11	MEDIF
AHGIF	1.0	0.0	1.0	0.0	0.0	1.0	0.0	0.0		0.0	AHGIF
ITHUF	0.0	0.44	0.0	0.37	-0.64	0.0	0.55	-0.11	0.0		ITHUF
	EOFBF	CNTMF	WOWU	ELXMF	CWBHF	HSTI	PVCT	MEDIF	AHGIF	ITHUF

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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

WOWU	+ 1.0	EOFBF
HSTI	+ 1.0	EOFBF
AHGIF	+ 1.0	EOFBF
HSTI	+ 1.0	WOWU
AHGIF	+ 1.0	WOWU
AHGIF	+ 1.0	HSTI

High negative correlations

CWBHF	- 0.82	ELXMF
PVCT	- 0.73	CWBHF
ITHUF	- 0.64	CWBHF
MEDIF	- 0.56	ELXMF
CWBHF	- 0.41	CNTMF
MEDIF	- 0.22	PVCT

Risk-Adjusted Indicators

There is a big difference between Next Pink Sheet performing well and Next Science 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 Science'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
EOFBF	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
CNTMF	5.69	(0.40)	0.00	0.47	0.00	0.00	13.95	(14.29)	68.93
WOWU	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
ELXMF	2.93	(1.26)	0.00	0.51	0.00	0.00	0.00	0.00	98.10
CWBHF	7.54	2.58	0.25	(19.80)	7.36	(10.83)	23.26	(10.71)	57.95
HSTI	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
PVCT	4.56	(0.75)	0.00	2.43	0.00	0.00	11.29	(9.52)	32.52
MEDIF	2.82	(0.04)	0.00	(0.14)	0.00	0.00	5.88	(5.88)	24.28
AHGIF	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
ITHUF	8.41	0.05	0.00	0.05	0.00	0.00	25.00	(20.00)	53.97

Be your own money manager

Our tools can tell you how much better you can do entering a position in Next Science 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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Next Science Corporate Management

Judith MBA	CEO MD	Profile
Michael Morello	VP Sales	Profile
Jacqueline CA	Chief Officer	Profile
Matthew Myntti	Founder CTO	Profile
Jon Swanson	Chief Officer	Profile
AGIA BA	Company Sec	Profile

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