Ready Set Correlations

RDYFF Stock

USD 0.11 0.00 0.00%

The current 90-days correlation between Ready Set Gold and Emgold Mining is 0.16 (i.e., Average diversification). The correlation of Ready Set 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.

Ready Set Correlation With Market

Good diversification

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

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

Moving together with Ready Pink Sheet

0.63	SHG	Shinhan Financial	Pair Corr
0.81	SMGKF	Smiths Group plc	Pair Corr
0.92	KYOCF	Kyocera	Pair Corr
0.72	APGE	Apogee Therapeutics,	Pair Corr
0.62	CHACR	Crane Harbor Acquisition	Pair Corr
0.66	ARRXF	Archer Materials	Pair Corr
0.67	HMDCF	HUTCHMED Limited	Pair Corr

Moving against Ready Pink Sheet

0.31	RYSKF	Reysas Tasimacilik	Pair Corr
0.37	26442TAG2	US26442TAG22	Pair Corr
0.33	TAK	Takeda Pharmaceutical	Pair Corr

Related Correlations Analysis

	EGMCF	CMMMF	IMRFF	GSRFF	AUHIF	RDEMF	PRRVF	ROVMF	MFMLF	CNMXF
EGMCF		-0.16	0.79	-0.17	-0.82	0.0	-0.41	-0.08	-0.66	0.0	EGMCF
CMMMF	-0.16		0.05	-0.21	0.38	0.0	-0.49	-0.16	0.5	0.0	CMMMF
IMRFF	0.79	0.05		-0.06	-0.75	0.0	-0.62	-0.33	-0.55	0.0	IMRFF
GSRFF	-0.17	-0.21	-0.06		-0.11	0.0	0.01	-0.27	-0.25	0.0	GSRFF
AUHIF	-0.82	0.38	-0.75	-0.11		0.0	0.34	0.1	0.88	0.0	AUHIF
RDEMF	0.0	0.0	0.0	0.0	0.0		0.0	0.0	0.0	1.0	RDEMF
PRRVF	-0.41	-0.49	-0.62	0.01	0.34	0.0		0.33	0.17	0.0	PRRVF
ROVMF	-0.08	-0.16	-0.33	-0.27	0.1	0.0	0.33		0.08	0.0	ROVMF
MFMLF	-0.66	0.5	-0.55	-0.25	0.88	0.0	0.17	0.08		0.0	MFMLF
CNMXF	0.0	0.0	0.0	0.0	0.0	1.0	0.0	0.0	0.0		CNMXF
	EGMCF	CMMMF	IMRFF	GSRFF	AUHIF	RDEMF	PRRVF	ROVMF	MFMLF	CNMXF

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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

CNMXF	+ 1.0	RDEMF
MFMLF	+ 0.88	AUHIF
IMRFF	+ 0.79	EGMCF
MFMLF	+ 0.5	CMMMF
AUHIF	+ 0.38	CMMMF
PRRVF	+ 0.34	AUHIF

High negative correlations

AUHIF	- 0.82	EGMCF
AUHIF	- 0.75	IMRFF
MFMLF	- 0.66	EGMCF
PRRVF	- 0.62	IMRFF
MFMLF	- 0.55	IMRFF
PRRVF	- 0.49	CMMMF

Risk-Adjusted Indicators

There is a big difference between Ready Pink Sheet performing well and Ready Set 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 Ready Set'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
EGMCF	3.84	(0.22)	0.00	(0.30)	0.00	0.00	10.25	(11.25)	26.90
CMMMF	17.60	7.50	0.00	(2.72)	0.00	0.00	64.00	0.00	450.00
IMRFF	4.87	(0.66)	0.00	1.67	0.00	0.00	11.11	(11.84)	38.34
GSRFF	6.02	0.93	0.08	1.93	6.14	(12.02)	16.67	(14.29)	61.34
AUHIF	6.81	2.16	0.00	(0.73)	0.00	0.00	17.65	0.00	130.00
RDEMF	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
PRRVF	6.44	1.11	0.04	1.01	8.38	(24.82)	25.45	(27.18)	68.75
ROVMF	5.78	0.43	0.02	0.52	8.44	(21.69)	21.43	(18.75)	91.41
MFMLF	28.80	14.32	0.77	(0.76)	7.57	(81.90)	39.44	(18.00)	737.58
CNMXF	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 Ready Set 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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