Stream Media Correlations

STEAF Stock

0.76 0.11 12.64%

The correlation of Stream Media 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.

Stream Media Correlation With Market

Poor diversification

The correlation between Stream Media and DJI is 0.77 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Stream Media and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Stream Pink Sheet

0.75	TSM	Taiwan Semiconductor	Pair Corr
0.72	EDRVF	EDP Renovaveis	Pair Corr
0.64	MLSPF	Melrose Industries PLC	Pair Corr
0.73	CLOEF	Cloetta AB ser	Pair Corr
0.69	BHPLF	BHP Group Limited	Pair Corr
0.66	TKR	Timken Company	Pair Corr
0.61	TSEM	Tower Semiconductor	Pair Corr
0.78	GAM	General American Inv	Pair Corr
0.74	BIRDF	Bird Construction Earnings Call This Week	Pair Corr
0.72	LIN	Linde plc Ordinary	Pair Corr
0.64	SAPMF	Saipem SpA Earnings Call This Week	Pair Corr
0.93	TEXG	Terax Energy	Pair Corr
0.72	NEWTH	NewtekOne 8625 percent	Pair Corr
0.63	HFBA	HFB Financial Corp Normal Trading	Pair Corr
0.81	BBWI	Bath Body Works	Pair Corr

Moving against Stream Pink Sheet

0.63	AAPL	Apple Inc	Pair Corr
0.58	MSFT	Microsoft Aggressive Push	Pair Corr

Related Correlations Analysis

	ICABY	YLWDF	CKPDY	OPNDF	SCGY	PHRZF	SPMMF	OPESF	THBRF	CMTX
ICABY		-0.16	0.0	0.36	0.8	0.5	-0.18	-0.25	-0.49	0.0	ICABY
YLWDF	-0.16		0.0	-0.13	-0.19	0.03	0.91	0.82	0.32	0.0	YLWDF
CKPDY	0.0	0.0		0.0	0.0	0.0	0.0	0.0	0.0	-1.0	CKPDY
OPNDF	0.36	-0.13	0.0		0.25	0.45	-0.06	-0.08	-0.05	0.0	OPNDF
SCGY	0.8	-0.19	0.0	0.25		0.3	-0.22	-0.31	-0.64	0.0	SCGY
PHRZF	0.5	0.03	0.0	0.45	0.3		0.06	0.05	-0.03	0.0	PHRZF
SPMMF	-0.18	0.91	0.0	-0.06	-0.22	0.06		0.7	0.37	0.0	SPMMF
OPESF	-0.25	0.82	0.0	-0.08	-0.31	0.05	0.7		0.47	0.0	OPESF
THBRF	-0.49	0.32	0.0	-0.05	-0.64	-0.03	0.37	0.47		0.0	THBRF
CMTX	0.0	0.0	-1.0	0.0	0.0	0.0	0.0	0.0	0.0		CMTX
	ICABY	YLWDF	CKPDY	OPNDF	SCGY	PHRZF	SPMMF	OPESF	THBRF	CMTX

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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

SPMMF	+ 0.91	YLWDF
OPESF	+ 0.82	YLWDF
SCGY	+ 0.8	ICABY
OPESF	+ 0.7	SPMMF
PHRZF	+ 0.5	ICABY
THBRF	+ 0.47	OPESF

High negative correlations

CMTX	- 1.0	CKPDY
THBRF	- 0.64	SCGY
THBRF	- 0.49	ICABY
OPESF	- 0.31	SCGY
OPESF	- 0.25	ICABY
SPMMF	- 0.22	SCGY

Risk-Adjusted Indicators

There is a big difference between Stream Pink Sheet performing well and Stream Media 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 Stream Media'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
ICABY	0.43	(0.21)	0.00	0.58	0.00	0.00	0.00	0.00	14.29
YLWDF	0.73	0.27	0.00	1.03	0.00	0.00	3.47	0.00	9.59
CKPDY	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
OPNDF	1.30	(0.57)	0.00	(0.36)	0.00	0.00	0.00	0.00	36.67
SCGY	2.67	(1.42)	0.00	(0.84)	0.00	0.00	0.00	0.00	89.62
PHRZF	4.26	0.48	0.02	0.21	8.26	(28.72)	2.77	(4.87)	124.05
SPMMF	10.30	5.15	0.00	2.56	0.00	0.00	0.00	0.00	345.00
OPESF	1.71	0.92	0.00	(0.44)	0.00	0.00	0.00	0.00	57.14
THBRF	2.19	0.59	0.28	1.48	1.39	(3.76)	5.26	(3.20)	34.58
CMTX	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00

Stream Media 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 Stream Media pink sheet to make a market-neutral strategy. Peer analysis of Stream Media could also be used in its relative valuation, which is a method of valuing Stream Media by comparing valuation metrics with similar companies.

I Cable Communications Ltd Yellow Pages Limited Cookpad Inc ADR OpenDoor Scientific Energy Pharol SGPS SA Space Communication Otello ASA Thunderbird Entertainment Group COMTEX News Network American Airlines Group Alcoa Corp Apple Inc Best Buy Co Citigroup

Risk & Return

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