Wireless Data Correlations

SSHT Stock

USD 0.01 0 20.97%

The current 90-days correlation between Wireless Data Solutions and Public Company Management is 0.03 (i.e., Significant diversification). The correlation of Wireless Data 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.

Wireless Data Correlation With Market

Good diversification

The correlation between Wireless Data Solutions and DJI is -0.01 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Wireless Data Solutions and DJI in the same portfolio, assuming nothing else is changed.

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

Moving against Wireless Pink Sheet

0.43	DVNHF	Frontier Services	Pair Corr
0.43	EDVMF	Endeavour Mining Corp	Pair Corr
0.41	FSBW	FS Bancorp Earnings Call This Week	Pair Corr
0.39	FOSL	Fossil Group	Pair Corr
0.36	PITAF	Poste Italiane SpA	Pair Corr
0.35	PILBF	Pilbara Minerals	Pair Corr
0.34	GVA	Granite Construction	Pair Corr
0.33	MMEX	MMEX Resources Corp	Pair Corr
0.48	MH	McGraw Hill	Pair Corr
0.46	NTR	Nutrien	Pair Corr
0.42	BNPQY	BNP Paribas SA	Pair Corr
0.38	HL	Hecla Mining Aggressive Push	Pair Corr
0.37	LAR	Lithium Argentina Symbol Change	Pair Corr
0.37	EBRZF	Enbridge	Pair Corr
0.35	PLAY	Dave Busters Enterta	Pair Corr
0.33	BIIB	Biogen Inc	Pair Corr

Related Correlations Analysis

	AOGO	MDWK	CAHO	XCPT	AVNI	LRGR	ARGC	LNMG	VWFB	PCMC
AOGO		-0.65	0.53	0.63	-0.2	-0.85	0.0	-0.3	-0.55	0.52	AOGO
MDWK	-0.65		-0.36	-0.5	0.2	0.71	0.0	-0.06	0.32	-0.63	MDWK
CAHO	0.53	-0.36		0.45	-0.4	-0.5	0.0	0.1	-0.42	0.48	CAHO
XCPT	0.63	-0.5	0.45		-0.39	-0.53	0.0	-0.07	-0.5	0.63	XCPT
AVNI	-0.2	0.2	-0.4	-0.39		-0.02	0.0	-0.27	0.13	-0.49	AVNI
LRGR	-0.85	0.71	-0.5	-0.53	-0.02		0.0	0.3	0.41	-0.49	LRGR
ARGC	0.0	0.0	0.0	0.0	0.0	0.0		0.0	0.0	0.0	ARGC
LNMG	-0.3	-0.06	0.1	-0.07	-0.27	0.3	0.0		0.02	-0.11	LNMG
VWFB	-0.55	0.32	-0.42	-0.5	0.13	0.41	0.0	0.02		-0.44	VWFB
PCMC	0.52	-0.63	0.48	0.63	-0.49	-0.49	0.0	-0.11	-0.44		PCMC
	AOGO	MDWK	CAHO	XCPT	AVNI	LRGR	ARGC	LNMG	VWFB	PCMC

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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

LRGR	+ 0.71	MDWK
XCPT	+ 0.63	AOGO
PCMC	+ 0.63	XCPT
CAHO	+ 0.53	AOGO
PCMC	+ 0.52	AOGO
PCMC	+ 0.48	CAHO

High negative correlations

LRGR	- 0.85	AOGO
MDWK	- 0.65	AOGO
PCMC	- 0.63	MDWK
VWFB	- 0.55	AOGO
LRGR	- 0.53	XCPT
VWFB	- 0.5	XCPT

Risk-Adjusted Indicators

There is a big difference between Wireless Pink Sheet performing well and Wireless Data 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 Wireless Data'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
AOGO	2.49	(1.20)	0.00	1.69	0.00	0.00	0.00	0.00	83.33
MDWK	9.19	2.64	0.20	0.80	6.29	(40.91)	40.74	(9.09)	156.82
CAHO	1.32	(0.57)	0.00	(0.27)	0.00	0.00	3.57	(3.77)	20.00
XCPT	10.65	0.90	0.04	0.39	12.59	(28.21)	53.33	(34.78)	95.54
AVNI	3.67	0.38	0.00	0.19	0.00	0.00	0.00	(7.89)	106.06
LRGR	7.64	1.31	0.15	(3.31)	6.58	(11.79)	19.44	(12.50)	37.22
ARGC	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
LNMG	8.98	1.76	0.04	(0.65)	11.46	(50.93)	40.91	(20.00)	165.77
VWFB	0.62	0.12	0.03	1.17	0.69	(1.02)	1.98	(1.85)	6.19
PCMC	4.08	0.10	0.00	0.15	0.00	0.00	0.00	0.00	184.82

Be your own money manager

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