Spectra Correlations

SSA Stock

CAD 0.20 0.01 5.26%

The current 90-days correlation between Spectra and Tesla CDR is 0.11 (i.e., Average diversification). The correlation of Spectra 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. If the correlation is 0, the equities are not correlated; they are entirely random.

Spectra Correlation With Market

Very weak diversification

The correlation between Spectra and DJI is 0.59 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Spectra and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Spectra Stock

0.75	ACQ	Autocanada	Pair Corr
0.71	DAN	Arianne Phosphate	Pair Corr
0.79	PWF-PA	Power Financial Corp	Pair Corr
0.82	FTT	Finning International	Pair Corr
0.71	TI	Titan Mining Corp	Pair Corr
0.76	COLA	Coca Cola	Pair Corr
0.71	RKR	ROKMASTER Resources Corp	Pair Corr
0.84	IPO	InPlay Oil Corp	Pair Corr
0.75	MKO	Mako Mining Corp	Pair Corr
0.81	BBB	Brixton Metals	Pair Corr
0.68	DOS	Dios Exploration	Pair Corr

Moving against Spectra Stock

0.72	MSFT	Microsoft Corp CDR	Pair Corr
0.72	MSFT	Microsoft CDR	Pair Corr
0.42	BRK	Berkshire Hathaway CDR	Pair Corr
0.42	BRK	Berkshire Hathaway CDR	Pair Corr
0.42	EBM	Eastwood Bio Medical	Pair Corr
0.38	AAPL	Apple CDR	Pair Corr
0.38	AAPL	Apple Inc CDR	Pair Corr

Related Correlations Analysis

	NFLX	NVDA	NVDA	AAPL	MSFT	MSFT	AAPL	AMZN	AMZN	TSLA
NFLX		0.01	0.01	0.5	0.8	0.8	0.5	0.23	0.23	-0.07	NFLX
NVDA	0.01		1.0	-0.23	0.13	0.13	-0.23	0.25	0.25	-0.08	NVDA
NVDA	0.01	1.0		-0.23	0.13	0.13	-0.23	0.25	0.25	-0.08	NVDA
AAPL	0.5	-0.23	-0.23		0.25	0.25	1.0	-0.23	-0.23	0.12	AAPL
MSFT	0.8	0.13	0.13	0.25		1.0	0.26	0.51	0.51	0.33	MSFT
MSFT	0.8	0.13	0.13	0.25	1.0		0.26	0.51	0.51	0.33	MSFT
AAPL	0.5	-0.23	-0.23	1.0	0.26	0.26		-0.23	-0.23	0.12	AAPL
AMZN	0.23	0.25	0.25	-0.23	0.51	0.51	-0.23		1.0	0.16	AMZN
AMZN	0.23	0.25	0.25	-0.23	0.51	0.51	-0.23	1.0		0.16	AMZN
TSLA	-0.07	-0.08	-0.08	0.12	0.33	0.33	0.12	0.16	0.16		TSLA
	NFLX	NVDA	NVDA	AAPL	MSFT	MSFT	AAPL	AMZN	AMZN	TSLA

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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

NVDA	+ 1.0	NVDA
AAPL	+ 1.0	AAPL
MSFT	+ 1.0	MSFT
AMZN	+ 1.0	AMZN
MSFT	+ 0.8	NFLX
MSFT	+ 0.8	NFLX

High negative correlations

AMZN	- 0.23	AAPL
AMZN	- 0.23	AAPL
AMZN	- 0.23	AAPL
AMZN	- 0.23	AAPL
AAPL	- 0.23	NVDA
AAPL	- 0.23	NVDA

Risk-Adjusted Indicators

There is a big difference between Spectra Stock performing well and Spectra 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 Spectra'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	Treynor Ratio	Potential Upside	Value @Risk	Maximum Drawdown
NFLX	1.50	(0.62)	(1.27)	1.80	(4.00)	8.22
NVDA	1.57	(0.12)	(0.14)	2.82	(3.14)	9.02
NVDA	1.57	(0.12)	(0.14)	2.82	(3.14)	9.02
AAPL	0.87	(0.14)	(0.34)	2.08	(1.80)	8.84
MSFT	1.33	(0.39)	(0.78)	1.81	(2.72)	13.66
MSFT	1.33	(0.39)	(0.78)	1.81	(2.72)	13.66
AAPL	0.87	(0.14)	(0.35)	2.08	(1.80)	8.84
AMZN	1.30	(0.36)	(1.00)	2.50	(2.70)	8.79
AMZN	1.30	(0.36)	(1.00)	2.50	(2.70)	8.79
TSLA	1.86	(0.11)	(0.11)	3.56	(4.04)	11.77

Be your own money manager

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