Steppe Cement Correlations
| SPPCF Stock | USD 0.31 0.00 0.00% |
The current 90-days correlation between Steppe Cement and Graphex Group Limited is 0.02 (i.e., Significant diversification). The correlation of Steppe Cement 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.
Steppe Cement Correlation With Market
Significant diversification
The correlation between Steppe Cement and DJI is 0.06 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Steppe Cement and DJI in the same portfolio, assuming nothing else is changed.
Steppe |
The ability to find closely correlated positions to Steppe Cement could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Steppe Cement 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 Steppe Cement - 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 Steppe Cement to buy it.
Moving together with Steppe Pink Sheet
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| 0.88 | AA | Alcoa Corp Earnings Call This Week | PairCorr |
| 0.77 | ATI | Allegheny Technologies | PairCorr |
| 0.7 | MT | ArcelorMittal SA ADR | PairCorr |
| 0.67 | DC | Dakota Gold Corp | PairCorr |
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Moving against Steppe Pink Sheet
Related Correlations Analysis
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
| High negative correlations
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Risk-Adjusted Indicators
There is a big difference between Steppe Pink Sheet performing well and Steppe Cement 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 Steppe Cement'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| GRFXF | 4.76 | (1.98) | 0.00 | 0.75 | 0.00 | 0.00 | 110.54 | |||
| PNRLF | 3.19 | (0.50) | 0.00 | (1.69) | 0.00 | 7.41 | 21.69 | |||
| PYCMF | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
| PGNRF | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
| AFTTF | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
| TITUF | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
| CALRF | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
| BNOW | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
| SWIOU | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
| GWSAF | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Steppe Cement Related Equities
One of the popular trading techniques among algorithmic traders is to use market-neutral strategies where every trade hedges away some risk. Because there are two separate transactions required, even if one position performs unexpectedly, the other equity can make up some of the losses. Below are some of the equities that can be combined with Steppe Cement pink sheet to make a market-neutral strategy. Peer analysis of Steppe Cement could also be used in its relative valuation, which is a method of valuing Steppe Cement by comparing valuation metrics with similar companies.
| Risk & Return | Correlation |