Redbubble Correlations

RDBBF Stock

USD 0.30 0.04 15.38%

The correlation of Redbubble 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.

Redbubble Correlation With Market

Very weak diversification

The correlation between Redbubble Limited and DJI is 0.43 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Redbubble Limited and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Redbubble Pink Sheet

0.84	WEICF	Weichai Power	Pair Corr
0.75	FMX	Fomento Economico	Pair Corr
0.82	DAR	Darling Ingredients	Pair Corr
0.79	ASTE	Astec Industries	Pair Corr
0.75	ASX	ASE Industrial Holding	Pair Corr
0.81	ABOS	Acumen Pharmaceuticals	Pair Corr
0.77	MOG-A	Moog Inc	Pair Corr
0.84	KOS	Kosmos Energy Buyout Trend	Pair Corr
0.66	FLXS	Flexsteel Industries	Pair Corr
0.82	SAPMF	Saipem SpA	Pair Corr
0.7	MTC	MMTEC Inc	Pair Corr
0.74	IBDSF	Iberdrola SA	Pair Corr

Moving against Redbubble Pink Sheet

0.83	MPNGY	Meituan ADR	Pair Corr
0.82	MPNGF	Meituan	Pair Corr
0.71	SE	Sea	Pair Corr
0.57	PDD	PDD Holdings	Pair Corr
0.56	AMZN	Amazon Inc	Pair Corr
0.55	CVNA	Carvana	Pair Corr
0.43	MELI	MercadoLibre	Pair Corr
0.34	GLABF	Gemina Laboratories	Pair Corr

Related Correlations Analysis

	PXHI	GLHD	MNLXF	CNVAF	ADBGF	CTTMF	TWRKF	ENMHF	HFUS	ARTZF
PXHI		0.0	0.0	0.0	0.0	0.26	0.0	-0.35	-0.22	0.0	PXHI
GLHD	0.0		1.0	1.0	0.0	0.0	0.0	0.0	0.0	0.0	GLHD
MNLXF	0.0	1.0		1.0	0.0	0.0	0.0	0.0	0.0	0.0	MNLXF
CNVAF	0.0	1.0	1.0		0.0	0.0	0.0	0.0	0.0	0.0	CNVAF
ADBGF	0.0	0.0	0.0	0.0		0.0	0.0	0.0	0.0	0.0	ADBGF
CTTMF	0.26	0.0	0.0	0.0	0.0		0.0	-0.07	-0.76	0.0	CTTMF
TWRKF	0.0	0.0	0.0	0.0	0.0	0.0		0.0	0.0	0.0	TWRKF
ENMHF	-0.35	0.0	0.0	0.0	0.0	-0.07	0.0		-0.06	0.0	ENMHF
HFUS	-0.22	0.0	0.0	0.0	0.0	-0.76	0.0	-0.06		0.0	HFUS
ARTZF	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0		ARTZF
	PXHI	GLHD	MNLXF	CNVAF	ADBGF	CTTMF	TWRKF	ENMHF	HFUS	ARTZF

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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

MNLXF	+ 1.0	GLHD
CNVAF	+ 1.0	GLHD
CNVAF	+ 1.0	MNLXF
CTTMF	+ 0.26	PXHI
GLHD	+ 0.0	PXHI
MNLXF	+ 0.0	PXHI

High negative correlations

HFUS	- 0.76	CTTMF
ENMHF	- 0.35	PXHI
HFUS	- 0.22	PXHI
ENMHF	- 0.07	CTTMF
HFUS	- 0.06	ENMHF
ARTZF	- 0.0	HFUS

Risk-Adjusted Indicators

There is a big difference between Redbubble Pink Sheet performing well and Redbubble 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 Redbubble'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
PXHI	2.98	(0.07)	(0.01)	0.01	4.88	(5.20)	7.57	(9.79)	32.37
GLHD	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
MNLXF	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
CNVAF	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
ADBGF	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
CTTMF	2.02	(1.03)	0.00	12.22	0.00	0.00	0.00	0.00	67.74
TWRKF	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
ENMHF	2.01	0.37	0.00	(0.48)	0.00	0.00	0.00	0.00	86.67
HFUS	6.13	1.75	0.17	0.68	4.84	(14.52)	12.36	(10.71)	116.39
ARTZF	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 Redbubble 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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Redbubble Corporate Management

Brett Watson	Chief Officer	Profile
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