Sharp Correlations

SHCAF Stock

USD 5.11 0.45 9.66%

The current 90-days correlation between Sharp and AU Optronics Corp is -0.19 (i.e., Good diversification). The correlation of Sharp 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.

Sharp Correlation With Market

Average diversification

The correlation between Sharp and DJI is 0.1 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Sharp and DJI in the same portfolio, assuming nothing else is changed.

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

Moving against Sharp Pink Sheet

0.58	MCHP	Microchip Technology	Pair Corr
0.51	PCRFF	Panasonic Holdings	Pair Corr
0.47	ATI	Allegheny Technologies	Pair Corr
0.46	INTC	Intel Aggressive Push	Pair Corr
0.41	KYOCF	Kyocera	Pair Corr
0.4	KYOCY	Kyocera ADR	Pair Corr
0.39	EPGG	Empire Global Gaming	Pair Corr
0.36	ACN	Accenture plc	Pair Corr
0.35	GSTX	Graphene Solar Techn	Pair Corr
0.68	GE	GE Aerospace Earnings Call This Week	Pair Corr
0.67	CVX	Chevron Corp	Pair Corr
0.63	AA	Alcoa Corp Earnings Call This Week	Pair Corr
0.54	DIS	Walt Disney	Pair Corr
0.42	JPM	JPMorgan Chase	Pair Corr
0.36	CAT	Caterpillar Sell-off Trend	Pair Corr
0.33	BAC	Bank of America	Pair Corr

Related Correlations Analysis

	TCLHF	HRIBF	ASUUY	AUOTY	RNSHF	VEMLF	SPSAF	HPHTF	APELY	TSYHF
TCLHF		0.0	0.0	-0.02	0.44	-0.51	-0.46	-0.16	0.06	-0.08	TCLHF
HRIBF	0.0		0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	HRIBF
ASUUY	0.0	0.0		0.0	0.0	0.0	0.0	0.0	0.0	0.0	ASUUY
AUOTY	-0.02	0.0	0.0		0.54	0.37	0.2	0.35	-0.09	-0.05	AUOTY
RNSHF	0.44	0.0	0.0	0.54		-0.16	-0.33	0.19	0.04	0.04	RNSHF
VEMLF	-0.51	0.0	0.0	0.37	-0.16		0.77	0.62	-0.39	-0.05	VEMLF
SPSAF	-0.46	0.0	0.0	0.2	-0.33	0.77		0.74	-0.54	-0.04	SPSAF
HPHTF	-0.16	0.0	0.0	0.35	0.19	0.62	0.74		-0.52	0.0	HPHTF
APELY	0.06	0.0	0.0	-0.09	0.04	-0.39	-0.54	-0.52		0.06	APELY
TSYHF	-0.08	0.0	0.0	-0.05	0.04	-0.05	-0.04	0.0	0.06		TSYHF
	TCLHF	HRIBF	ASUUY	AUOTY	RNSHF	VEMLF	SPSAF	HPHTF	APELY	TSYHF

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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

SPSAF	+ 0.77	VEMLF
HPHTF	+ 0.74	SPSAF
HPHTF	+ 0.62	VEMLF
RNSHF	+ 0.54	AUOTY
RNSHF	+ 0.44	TCLHF
VEMLF	+ 0.37	AUOTY

High negative correlations

APELY	- 0.54	SPSAF
APELY	- 0.52	HPHTF
VEMLF	- 0.51	TCLHF
SPSAF	- 0.46	TCLHF
APELY	- 0.39	VEMLF
SPSAF	- 0.33	RNSHF

Risk-Adjusted Indicators

There is a big difference between Sharp Pink Sheet performing well and Sharp 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 Sharp'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
TCLHF	3.45	0.07	(0.01)	0.01	5.15	(9.49)	12.61	(10.45)	44.57
HRIBF	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
ASUUY	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
AUOTY	2.28	0.08	0.03	0.16	2.70	(2.78)	5.73	(5.28)	20.24
RNSHF	0.39	0.08	0.00	(9.38)	0.00	0.00	0.00	0.00	9.06
VEMLF	0.40	0.10	0.00	0.75	0.00	0.00	0.00	0.00	3.50
SPSAF	0.57	0.00	0.00	0.00	0.00	0.00	0.00	0.00	19.08
HPHTF	1.08	(0.16)	0.00	(0.16)	0.00	0.00	3.23	(4.50)	17.74
APELY	0.83	0.16	0.00	0.84	0.00	0.00	1.47	0.00	17.31
TSYHF	5.69	0.77	0.06	(0.21)	7.36	(6.42)	17.50	(8.76)	62.31

Be your own money manager

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