Smartgroup Correlations

STGXF Stock

USD 5.82 0.00 0.00%

The correlation of Smartgroup 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.

Smartgroup Correlation With Market

Significant diversification

The correlation between Smartgroup and DJI is 0.09 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Smartgroup and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Smartgroup Pink Sheet

0.62	TRI	Thomson Reuters	Pair Corr
0.64	MAHN	Mid Atlantic Home	Pair Corr

Moving against Smartgroup Pink Sheet

0.92	RKLIF	Rentokil Initial plc	Pair Corr
0.78	RBA	RB Global	Pair Corr
0.64	TLKMF	Telkom Indonesia Tbk	Pair Corr
0.61	PTAIY	Astra International Tbk	Pair Corr
0.59	PPERY	Bank Mandiri Persero	Pair Corr
0.5	CTAS	Cintas Sell-off Trend	Pair Corr
0.4	EC	Ecopetrol SA ADR	Pair Corr
0.37	TLK	Telkom Indonesia Tbk	Pair Corr
0.86	PCRHY	Panasonic Holdings	Pair Corr
0.86	HCHDF	Hochschild Mining PLC	Pair Corr
0.82	BJRI	BJs Restaurants	Pair Corr
0.8	FOSL	Fossil Group	Pair Corr
0.8	FSBW	FS Bancorp Earnings Call Tomorrow	Pair Corr
0.78	NHPAP	National Healthcare	Pair Corr
0.76	NKRKY	Nokian Tyres Plc	Pair Corr
0.7	ZMPLF	Zimplats Holdings	Pair Corr
0.65	SPPCF	Steppe Cement	Pair Corr
0.63	DVNHF	Frontier Services	Pair Corr
0.5	DAC	Danaos	Pair Corr
0.49	MDWK	MDwerks	Pair Corr
0.35	OOAG	OMDA Oil	Pair Corr
0.91	DIALF	Dialight plc	Pair Corr
0.89	EBRZF	Enbridge	Pair Corr
0.87	SMEGF	Siemens Energy AG	Pair Corr
0.86	BNPQY	BNP Paribas SA	Pair Corr

Related Correlations Analysis

	SHMCF	HERXF	JSVGF	SNIRF	CTAGF	NLFKF	MTWTF	SHIHF	DLUEY	CCNTF
SHMCF		0.0	1.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	SHMCF
HERXF	0.0		0.0	0.57	0.62	0.0	0.0	-0.48	-0.05	0.0	HERXF
JSVGF	1.0	0.0		0.0	0.0	0.0	0.0	0.0	0.0	0.0	JSVGF
SNIRF	0.0	0.57	0.0		0.9	0.0	0.0	-0.73	0.11	0.0	SNIRF
CTAGF	0.0	0.62	0.0	0.9		0.0	0.0	-0.65	0.09	0.0	CTAGF
NLFKF	0.0	0.0	0.0	0.0	0.0		0.0	0.0	0.0	0.0	NLFKF
MTWTF	0.0	0.0	0.0	0.0	0.0	0.0		0.0	0.0	0.0	MTWTF
SHIHF	0.0	-0.48	0.0	-0.73	-0.65	0.0	0.0		-0.14	0.0	SHIHF
DLUEY	0.0	-0.05	0.0	0.11	0.09	0.0	0.0	-0.14		0.0	DLUEY
CCNTF	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0		CCNTF
	SHMCF	HERXF	JSVGF	SNIRF	CTAGF	NLFKF	MTWTF	SHIHF	DLUEY	CCNTF

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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

JSVGF	+ 1.0	SHMCF
CTAGF	+ 0.9	SNIRF
CTAGF	+ 0.62	HERXF
SNIRF	+ 0.57	HERXF
DLUEY	+ 0.11	SNIRF
DLUEY	+ 0.09	CTAGF

High negative correlations

SHIHF	- 0.73	SNIRF
SHIHF	- 0.65	CTAGF
SHIHF	- 0.48	HERXF
DLUEY	- 0.14	SHIHF
DLUEY	- 0.05	HERXF
CCNTF	- 0.0	DLUEY

Risk-Adjusted Indicators

There is a big difference between Smartgroup Pink Sheet performing well and Smartgroup 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 Smartgroup'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
SHMCF	0.00	0.00	0.00	0.00	0.00	0.00
HERXF	0.17	(0.08)	1.12	0.18	(0.78)	2.86
JSVGF	0.00	0.00	0.00	0.00	0.00	0.00
SNIRF	0.05	(0.03)	11.42	0.00	0.00	1.53
CTAGF	0.46	(0.22)	0.85	0.00	0.00	15.57
NLFKF	0.00	0.00	0.00	0.00	0.00	0.00
MTWTF	0.00	0.00	0.00	0.00	0.00	0.00
SHIHF	0.14	0.06	(1.58)	0.00	0.00	4.55
DLUEY	0.64	(0.01)	(0.21)	0.00	0.00	20.91
CCNTF	0.00	0.00	0.00	0.00	0.00	0.00

Be your own money manager

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