Nuvonyx Correlations

TFGL Stock

USD 0.26 0.00 0.00%

The current 90-days correlation between Nuvonyx and Chilco River Holdings is 0.01 (i.e., Significant diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Nuvonyx moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Nuvonyx moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Nuvonyx Correlation With Market

Average diversification

The correlation between Nuvonyx and DJI is 0.1 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Nuvonyx and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Nuvonyx Pink Sheet

0.72

12532HAF1

GIBACN 23 14

Pair Corr

Moving against Nuvonyx Pink Sheet

0.82	GWW	WW Grainger	Pair Corr
0.79	LION	Lionsgate Studios Holding Buyout Trend	Pair Corr
0.73	PBAJ	Petro Usa	Pair Corr
0.72	RIVN	Rivian Automotive Aggressive Push	Pair Corr
0.69	INFY	Infosys Ltd ADR Potential Growth	Pair Corr
0.46	RLMD	Relmada Therapeutics	Pair Corr
0.43	F	Ford Motor	Pair Corr
0.85	ASTI	Ascent Solar Technol Tech Boost	Pair Corr
0.83	CRRFY	Carrefour SA PK	Pair Corr
0.66	AVTBF	Avant Brands	Pair Corr
0.66	ULTA	Ulta Beauty	Pair Corr
0.52	IDN	Intellicheck Mobilisa	Pair Corr
0.5	REGN	Regeneron Pharmaceuticals	Pair Corr
0.45	DNLMY	Dunelm Group PLC	Pair Corr
0.42	AKAM	Akamai Technologies	Pair Corr
0.39	HE	Hawaiian Electric	Pair Corr
0.32	KYOCF	Kyocera	Pair Corr
0.93	ZPTA	Zapata Computing Holdings Buyout Trend	Pair Corr
0.86	ALVLF	Big Ridge Gold	Pair Corr
0.75	AA	Alcoa Corp	Pair Corr
0.68	CX	Cemex SAB de Aggressive Push	Pair Corr
0.65	BAC	Bank of America Aggressive Push	Pair Corr
0.53	APGE	Apogee Therapeutics,	Pair Corr

Related Correlations Analysis

	NIHL	TNBI	CRVH	GNCNF	LICH	AIKO	IVFZF	ANAS	PRDL	NGCG
NIHL		-0.29	0.17	0.0	0.15	0.0	0.41	0.6	-0.51	-0.16	NIHL
TNBI	-0.29		-0.13	0.0	-0.05	0.0	-0.69	-0.71	0.72	0.22	TNBI
CRVH	0.17	-0.13		0.0	0.16	0.0	-0.26	0.23	-0.14	-0.44	CRVH
GNCNF	0.0	0.0	0.0		0.0	1.0	0.0	0.0	0.0	0.0	GNCNF
LICH	0.15	-0.05	0.16	0.0		0.0	-0.04	0.08	0.0	-0.39	LICH
AIKO	0.0	0.0	0.0	1.0	0.0		0.0	0.0	0.0	0.0	AIKO
IVFZF	0.41	-0.69	-0.26	0.0	-0.04	0.0		0.59	-0.59	-0.14	IVFZF
ANAS	0.6	-0.71	0.23	0.0	0.08	0.0	0.59		-0.79	-0.28	ANAS
PRDL	-0.51	0.72	-0.14	0.0	0.0	0.0	-0.59	-0.79		0.24	PRDL
NGCG	-0.16	0.22	-0.44	0.0	-0.39	0.0	-0.14	-0.28	0.24		NGCG
	NIHL	TNBI	CRVH	GNCNF	LICH	AIKO	IVFZF	ANAS	PRDL	NGCG

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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

AIKO	+ 1.0	GNCNF
PRDL	+ 0.72	TNBI
ANAS	+ 0.6	NIHL
ANAS	+ 0.59	IVFZF
IVFZF	+ 0.41	NIHL
NGCG	+ 0.24	PRDL

High negative correlations

PRDL	- 0.79	ANAS
ANAS	- 0.71	TNBI
IVFZF	- 0.69	TNBI
PRDL	- 0.59	IVFZF
PRDL	- 0.51	NIHL
NGCG	- 0.44	CRVH

Risk-Adjusted Indicators

There is a big difference between Nuvonyx Pink Sheet performing well and Nuvonyx 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 Nuvonyx'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
NIHL	21.61	6.07	0.13	0.43	15.92	(149.87)	82.82	(48.05)	402.17
TNBI	2.67	(0.36)	0.00	0.27	0.00	0.00	0.00	(20.00)	50.00
CRVH	9.85	2.37	0.07	(3.58)	11.82	(48.52)	8.75	(8.08)	207.30
GNCNF	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
LICH	8.57	1.62	0.09	0.41	8.50	(25.39)	16.52	(20.00)	117.56
AIKO	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
IVFZF	2.47	1.29	0.00	(3.25)	0.00	0.00	0.00	0.00	55.00
ANAS	7.44	1.13	0.08	0.26	7.35	(26.10)	28.00	(18.75)	90.71
PRDL	8.95	1.54	0.00	(3.39)	0.00	0.00	0.00	(50.00)	150.00
NGCG	7.04	0.33	0.02	0.19	9.25	(29.58)	25.00	(20.00)	91.67

Be your own money manager

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