Seraphim Space Correlations

SSIT Stock

52.00 0.20 0.38%

The current 90-days correlation between Seraphim Space Investment and Concurrent Technologies Plc is 0.01 (i.e., Significant diversification). The correlation of Seraphim Space 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.

Seraphim Space Correlation With Market

Weak diversification

The correlation between Seraphim Space Investment and DJI is 0.39 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Seraphim Space Investment and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Seraphim Stock

0.68	0R15	SoftBank Group Corp	Pair Corr
0.66	APTA	Aptamer Group PLC	Pair Corr
0.82	IMB	Imperial Brands PLC	Pair Corr
0.79	DEC	Diversified Energy	Pair Corr
0.65	TFIF	TwentyFour Income	Pair Corr
0.87	SGE	Sage Group PLC	Pair Corr
0.88	ARC	Arcontech Group Plc	Pair Corr

Moving against Seraphim Stock

0.77	HYUD	Hyundai Motor Earnings Call This Week	Pair Corr
0.7	VCP	Victoria PLC	Pair Corr
0.6	SMSN	Samsung Electronics	Pair Corr
0.48	SMSD	Samsung Electronics	Pair Corr
0.46	RIGD	Reliance Industries	Pair Corr

Related Correlations Analysis

	BNKR	0IBC	0QQZ	PTEC	MTEC	XSG	CNC	TFG
BNKR		0.82	0.63	-0.15	0.76	-0.44	0.73	0.75	BNKR
0IBC	0.82		0.37	-0.18	0.79	-0.7	0.87	0.67	0IBC
0QQZ	0.63	0.37		-0.48	0.66	-0.13	0.22	0.81	0QQZ
PTEC	-0.15	-0.18	-0.48		-0.42	0.28	-0.07	-0.38	PTEC
MTEC	0.76	0.79	0.66	-0.42		-0.66	0.67	0.85	MTEC
XSG	-0.44	-0.7	-0.13	0.28	-0.66		-0.62	-0.33	XSG
CNC	0.73	0.87	0.22	-0.07	0.67	-0.62		0.49	CNC
TFG	0.75	0.67	0.81	-0.38	0.85	-0.33	0.49		TFG
	BNKR	0IBC	0QQZ	PTEC	MTEC	XSG	CNC	TFG

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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

CNC	+ 0.87	0IBC
TFG	+ 0.85	MTEC
0IBC	+ 0.82	BNKR
TFG	+ 0.81	0QQZ
MTEC	+ 0.79	0IBC
MTEC	+ 0.76	BNKR

High negative correlations

XSG	- 0.7	0IBC
XSG	- 0.66	MTEC
CNC	- 0.62	XSG
PTEC	- 0.48	0QQZ
XSG	- 0.44	BNKR
MTEC	- 0.42	PTEC

Risk-Adjusted Indicators

There is a big difference between Seraphim Stock performing well and Seraphim Space 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 Seraphim Space'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
BNKR	0.53	0.11	0.17	0.29	0.48	(0.62)	1.06	(0.86)	2.99
0IBC	1.67	0.45	0.34	0.58	1.05	(2.33)	3.23	(2.15)	20.34
0QQZ	0.58	0.12	0.20	3.26	0.35	(0.83)	1.53	(1.03)	3.05
PTEC	0.77	(0.01)	0.00	(0.10)	0.00	0.00	1.81	(1.65)	4.06
MTEC	2.24	0.71	0.29	1.25	1.32	(4.41)	5.56	(2.88)	28.29
XSG	1.45	(0.04)	0.00	0.03	0.00	0.00	1.85	(6.25)	31.54
CNC	2.36	0.54	0.23	1.15	1.81	(3.53)	7.59	(3.55)	15.55
TFG	1.07	0.52	0.45	(1.49)	0.00	(2.29)	3.94	(0.83)	7.63

Be your own money manager

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