SmartSet Automation Correlations

SLDC Stock

USD 0.0009 0.0002 18.18%

The correlation of SmartSet Automation 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.

SmartSet Automation Correlation With Market

Average diversification

The correlation between SmartSet Automation LLC 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 SmartSet Automation LLC and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with SmartSet Pink Sheet

0.79	MSFT	Microsoft	Pair Corr
0.67	TRNR	Interactive Strength	Pair Corr
0.62	APVO	Aptevo Therapeutics	Pair Corr
0.74	HPQ	HP Inc	Pair Corr

Moving against SmartSet Pink Sheet

0.66	BMYMP	Bristol Myers Squibb	Pair Corr
0.65	GOOG	Alphabet Class C	Pair Corr
0.54	ACN	Accenture plc	Pair Corr
0.48	BRK-A	Berkshire Hathaway	Pair Corr
0.39	F	Ford Motor	Pair Corr
0.35	WNC	Wabash National	Pair Corr
0.31	CYCC	CYCC Old Symbol Change	Pair Corr
0.71	JNJ	Johnson Johnson Earnings Call This Week	Pair Corr
0.7	DD	Dupont De Nemours	Pair Corr
0.6	CAT	Caterpillar Sell-off Trend	Pair Corr
0.59	PFE	Pfizer Inc	Pair Corr
0.59	XOM	Exxon Mobil Corp Aggressive Push	Pair Corr
0.58	AA	Alcoa Corp Earnings Call This Week	Pair Corr
0.56	WMT	Walmart Common Stock Aggressive Push	Pair Corr
0.46	JPM	JPMorgan Chase	Pair Corr
0.42	VZ	Verizon Communications	Pair Corr
0.32	AXP	American Express	Pair Corr

Related Correlations Analysis

	CAEN	REXR	VIR	PIUTQ	EGMMF	HTRC	TSN	CAG
CAEN		0.0	0.0	0.0	0.0	0.0	0.0	0.0	CAEN
REXR	0.0		0.07	0.0	0.04	0.0	-0.47	0.58	REXR
VIR	0.0	0.07		0.0	0.04	0.0	0.48	0.22	VIR
PIUTQ	0.0	0.0	0.0		0.0	0.0	0.0	0.0	PIUTQ
EGMMF	0.0	0.04	0.04	0.0		0.0	0.01	-0.06	EGMMF
HTRC	0.0	0.0	0.0	0.0	0.0		0.0	0.0	HTRC
TSN	0.0	-0.47	0.48	0.0	0.01	0.0		-0.26	TSN
CAG	0.0	0.58	0.22	0.0	-0.06	0.0	-0.26		CAG
	CAEN	REXR	VIR	PIUTQ	EGMMF	HTRC	TSN	CAG

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

CAG	+ 0.58	REXR
TSN	+ 0.48	VIR
CAG	+ 0.22	VIR
VIR	+ 0.07	REXR
EGMMF	+ 0.04	REXR
EGMMF	+ 0.04	VIR

High negative correlations

TSN	- 0.47	REXR
CAG	- 0.26	TSN
CAG	- 0.06	EGMMF
CAG	- 0.0	HTRC
TSN	- 0.0	HTRC
HTRC	- 0.0	EGMMF

Risk-Adjusted Indicators

There is a big difference between SmartSet Pink Sheet performing well and SmartSet Automation 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 SmartSet Automation'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
CAEN	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
REXR	1.07	(0.03)	(0.06)	0.03	1.12	(1.25)	2.30	(1.92)	5.39
VIR	3.29	(0.11)	(0.02)	0.01	4.13	(3.32)	7.75	(6.25)	20.46
PIUTQ	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
EGMMF	0.27	(0.03)	0.00	0.00	0.00	0.00	0.00	0.00	9.02
HTRC	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
TSN	1.16	0.17	0.09	0.45	1.15	(1.31)	2.98	(2.03)	8.77
CAG	1.24	(0.14)	0.00	(0.22)	0.00	0.00	2.29	(2.53)	7.20

Be your own money manager

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