Sparta Capital Correlations

SCAXF Stock

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The correlation of Sparta Capital 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.

Sparta Capital Correlation With Market

Excellent diversification

The correlation between Sparta Capital and DJI is -0.56 (i.e., Excellent diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Sparta Capital and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Sparta Pink Sheet

0.62	AAPL	Apple Inc	Pair Corr
0.64	PBCRY	Bank Central Asia	Pair Corr

Moving against Sparta Pink Sheet

0.75	MBFJF	Mitsubishi UFJ Financial	Pair Corr
0.7	TSM	Taiwan Semiconductor	Pair Corr
0.66	BKRKY	Bank Rakyat Earnings Call This Week	Pair Corr
0.35	BMYMP	Bristol Myers Squibb	Pair Corr
0.85	NTZ	Natuzzi SpA	Pair Corr
0.77	LAND	Gladstone Land Earnings Call This Week	Pair Corr
0.75	MTGRF	Mount Gibson Iron	Pair Corr
0.71	TOGOF	TomaGold	Pair Corr
0.7	CGECF	Cogeco Inc	Pair Corr
0.7	GRBK	Green Brick Partners Earnings Call This Week	Pair Corr
0.67	FRSB	First Resource Bank	Pair Corr
0.66	MXCHY	Orbia Advance Corp	Pair Corr
0.66	YLLXF	Yellow Cake plc	Pair Corr
0.56	MEGI	MainStay CBRE Global	Pair Corr
0.55	AES	AES Earnings Call This Week	Pair Corr
0.53	BFS	Saul Centers Earnings Call This Week	Pair Corr
0.51	MEEEF	Metal Energy Corp	Pair Corr
0.51	JLHL	Julong Holding Upward Rally	Pair Corr
0.85	NNBR	NN Inc	Pair Corr
0.82	BLAGF	Blue Lagoon Resources	Pair Corr
0.71	TATT	Tat Techno	Pair Corr
0.71	INTC	Intel	Pair Corr
0.66	JOE	St Joe Company Earnings Call This Week	Pair Corr
0.55	USPH	US Physicalrapy	Pair Corr

Related Correlations Analysis

	VVWT	CNGA	RAKR	CAPC	LEON	QPRC	ENCC	KNOS	IDGC	BONL
VVWT		0.16	-0.07	0.06	0.0	0.34	0.25	-0.11	0.2	-0.31	VVWT
CNGA	0.16		-0.02	-0.12	0.0	0.12	0.16	-0.1	0.15	0.01	CNGA
RAKR	-0.07	-0.02		0.46	0.0	-0.17	-0.4	-0.02	-0.32	-0.25	RAKR
CAPC	0.06	-0.12	0.46		0.0	-0.1	-0.8	-0.29	-0.68	-0.66	CAPC
LEON	0.0	0.0	0.0	0.0		0.0	0.0	0.0	0.0	0.0	LEON
QPRC	0.34	0.12	-0.17	-0.1	0.0		0.3	0.14	0.32	0.14	QPRC
ENCC	0.25	0.16	-0.4	-0.8	0.0	0.3		0.31	0.8	0.46	ENCC
KNOS	-0.11	-0.1	-0.02	-0.29	0.0	0.14	0.31		0.56	0.19	KNOS
IDGC	0.2	0.15	-0.32	-0.68	0.0	0.32	0.8	0.56		0.26	IDGC
BONL	-0.31	0.01	-0.25	-0.66	0.0	0.14	0.46	0.19	0.26		BONL
	VVWT	CNGA	RAKR	CAPC	LEON	QPRC	ENCC	KNOS	IDGC	BONL

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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

IDGC	+ 0.8	ENCC
IDGC	+ 0.56	KNOS
CAPC	+ 0.46	RAKR
BONL	+ 0.46	ENCC
QPRC	+ 0.34	VVWT
IDGC	+ 0.32	QPRC

High negative correlations

ENCC	- 0.8	CAPC
IDGC	- 0.68	CAPC
BONL	- 0.66	CAPC
ENCC	- 0.4	RAKR
IDGC	- 0.32	RAKR
BONL	- 0.31	VVWT

Risk-Adjusted Indicators

There is a big difference between Sparta Pink Sheet performing well and Sparta Capital 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 Sparta Capital'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
VVWT	17.11	1.53	0.07	0.90	16.56	(29.83)	48.15	(37.50)	115.67
CNGA	0.10	(0.07)	0.00	(0.43)	0.00	0.00	0.00	0.00	3.33
RAKR	8.27	1.07	0.10	(0.84)	8.76	(11.48)	24.86	(17.29)	86.84
CAPC	11.84	2.49	0.21	0.38	10.63	(16.72)	29.03	(19.35)	129.33
LEON	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
QPRC	17.16	4.12	0.09	0.69	16.68	(67.27)	69.23	(48.00)	248.04
ENCC	10.40	(2.05)	0.00	1.59	0.00	0.00	18.18	(25.32)	78.11
KNOS	7.76	0.63	0.05	(0.27)	8.49	(10.81)	21.43	(15.15)	46.32
IDGC	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
BONL	0.67	(0.27)	0.00	1.38	0.00	0.00	0.00	0.00	23.90

Be your own money manager

Our tools can tell you how much better you can do entering a position in Sparta Capital 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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