Psyence Correlations
| PSYGF Stock | USD 0.13 0.00 0.00% |
The current 90-days correlation between Psyence Group and Indo Global Exchange is -0.01 (i.e., Good diversification). The correlation of Psyence 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.
Psyence Correlation With Market
Good diversification
The correlation between Psyence Group and DJI is -0.11 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Psyence Group and DJI in the same portfolio, assuming nothing else is changed.
Psyence |
The ability to find closely correlated positions to Psyence could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Psyence 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 Psyence - 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 Psyence Group to buy it.
Moving together with Psyence Pink Sheet
| 0.89 | LLY | Eli Lilly | PairCorr |
| 0.7 | JNJ | Johnson Johnson | PairCorr |
| 0.8 | AZN | AstraZeneca PLC ADR | PairCorr |
| 0.73 | MRK | Merck Company Aggressive Push | PairCorr |
| 0.62 | RHHBF | Roche Holding AG | PairCorr |
| 0.68 | RHHBY | Roche Holding | PairCorr |
| 0.68 | RHHVF | Roche Holding AG | PairCorr |
| 0.77 | AZNCF | AstraZeneca PLC | PairCorr |
| 0.89 | AMGN | Amgen Inc | PairCorr |
| 0.62 | MUFG | Mitsubishi UFJ Financial Normal Trading | PairCorr |
| 0.71 | SMFG | Sumitomo Mitsui Financial | PairCorr |
| 0.68 | SMFNF | Sumitomo Mitsui Financial | PairCorr |
| 0.8 | KB | KB Financial Group | PairCorr |
| 0.68 | MFG | Mizuho Financial | PairCorr |
| 0.69 | SHG | Shinhan Financial | PairCorr |
| 0.77 | WDC | Western Digital | PairCorr |
| 0.8 | APPN | Appian Corp | PairCorr |
| 0.89 | LANZ | Lancer Orthodontics | PairCorr |
| 0.71 | OSCI | Osceola Gold | PairCorr |
| 0.64 | AAPL | Apple Inc | PairCorr |
| 0.84 | PRPI | Perpetual Industries | PairCorr |
| 0.64 | AGNC | AGNC Investment Corp Aggressive Push | PairCorr |
| 0.76 | OCFT | Oneconnect Financial | PairCorr |
| 0.65 | ENVA | Enova International | PairCorr |
| 0.79 | LITE | Lumentum Holdings | PairCorr |
Moving against Psyence Pink Sheet
Related Correlations Analysis
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 Psyence Pink Sheet performing well and Psyence 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 Psyence'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| IGEX | 7.90 | 0.81 | 0.02 | (0.31) | 9.63 | 33.33 | 58.33 | |||
| TLLTF | 109.46 | 42.90 | 0.72 | (4.91) | 39.99 | 1,000.00 | 1,100 | |||
| ADXS | 45.48 | 17.87 | 0.35 | 0.81 | 22.33 | 122.19 | 734.55 | |||
| GENPF | 3.99 | 1.84 | 0.00 | (3.27) | 0.00 | 0.00 | 121.14 | |||
| RNUGF | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
| KOAN | 10.49 | (2.28) | 0.00 | 14.28 | 0.00 | 21.28 | 103.51 | |||
| CRYM | 1.90 | (1.33) | 0.00 | (0.23) | 0.00 | 0.00 | 60.00 | |||
| ANTCF | 56.53 | 28.05 | 0.00 | (1.11) | 0.00 | 0.00 | 1,049 | |||
| NMLSF | 5.74 | 1.21 | 0.09 | 20.00 | 5.96 | 17.30 | 66.40 | |||
| KAYS | 9.34 | 0.59 | 0.04 | 0.57 | 10.54 | 30.50 | 78.32 |
Be your own money manager
Our tools can tell you how much better you can do entering a position in Psyence 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?
Run Sectors Now
SectorsList of equity sectors categorizing publicly traded companies based on their primary business activities |
| All Next | Launch Module |
Psyence Corporate Management
| BCom Bcomm | CoFounder Director | Profile | |
| Taryn Vos | G Counsel | Profile | |
| Jody Aufrichtig | CoFounder Chairman | Profile | |
| Neil MD | Chief Officer | Profile | |
| Mike Dacks | Chief Officer | Profile | |
| BSc MD | Chief Jamaica | Profile |