NVIDIA Correlations

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83.72 1.72 2.01%

The current 90-days correlation between NVIDIA PORATION and Catalyst Pharmaceuticals is -0.02 (i.e., Good diversification). The correlation of NVIDIA 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.

NVIDIA Correlation With Market

Average diversification

The correlation between NVIDIA PORATION and DJI is 0.11 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding NVIDIA PORATION and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with NVIDIA Bond

0.87	KO	Coca Cola Aggressive Push	Pair Corr
0.8	PFE	Pfizer Inc Fiscal Year End 4th of February 2025	Pair Corr
0.78	JNJ	Johnson Johnson Fiscal Year End 28th of January 2025	Pair Corr
0.92	MRK	Merck Company Fiscal Year End 6th of February 2025	Pair Corr

Moving against NVIDIA Bond

0.88	BAC	Bank of America Aggressive Push	Pair Corr
0.86	DIS	Walt Disney Aggressive Push	Pair Corr
0.85	MRVL	Marvell Technology Earnings Call This Week	Pair Corr
0.81	GOOG	Alphabet Class C	Pair Corr
0.78	AXP	American Express Fiscal Year End 24th of January 2025	Pair Corr
0.78	WMT	Walmart Aggressive Push	Pair Corr
0.73	HPQ	HP Inc	Pair Corr
0.7	DXYZ	Destiny Tech100 Trending	Pair Corr
0.7	TRV	The Travelers Companies Fiscal Year End 17th of January 2025	Pair Corr
0.68	INTC	Intel Fiscal Year End 23rd of January 2025	Pair Corr
0.65	SNOW	Snowflake Trending	Pair Corr
0.61	T	ATT Inc Aggressive Push	Pair Corr
0.61	XOM	Exxon Mobil Corp Aggressive Push	Pair Corr
0.56	HD	Home Depot	Pair Corr

Related Correlations Analysis

	CPRX	REGN	SFL	WAVS	EGO	HIHO	YTRA	ABCL
CPRX		-0.68	-0.72	0.57	-0.23	0.39	-0.55	0.74	CPRX
REGN	-0.68		0.64	-0.7	0.43	-0.48	0.34	-0.52	REGN
SFL	-0.72	0.64		-0.38	0.59	-0.27	0.66	-0.64	SFL
WAVS	0.57	-0.7	-0.38		0.1	0.58	-0.16	0.5	WAVS
EGO	-0.23	0.43	0.59	0.1		0.13	0.41	-0.13	EGO
HIHO	0.39	-0.48	-0.27	0.58	0.13		0.03	0.42	HIHO
YTRA	-0.55	0.34	0.66	-0.16	0.41	0.03		-0.42	YTRA
ABCL	0.74	-0.52	-0.64	0.5	-0.13	0.42	-0.42		ABCL
	CPRX	REGN	SFL	WAVS	EGO	HIHO	YTRA	ABCL

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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

ABCL	+ 0.74	CPRX
YTRA	+ 0.66	SFL
SFL	+ 0.64	REGN
EGO	+ 0.59	SFL
HIHO	+ 0.58	WAVS
WAVS	+ 0.57	CPRX

High negative correlations

SFL	- 0.72	CPRX
WAVS	- 0.7	REGN
REGN	- 0.68	CPRX
ABCL	- 0.64	SFL
YTRA	- 0.55	CPRX
ABCL	- 0.52	REGN

Risk-Adjusted Indicators

There is a big difference between NVIDIA Bond performing well and NVIDIA Corporate Bond 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 NVIDIA'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
CPRX	1.45	(0.04)	(0.02)	0.04	1.75	(1.60)	2.92	(2.52)	9.53
REGN	1.16	(0.78)	0.00	(0.87)	0.00	0.00	1.00	(3.28)	11.18
SFL	1.04	(0.12)	0.00	(0.28)	0.00	0.00	1.76	(2.52)	4.87
WAVS	1.05	0.14	0.01	(0.46)	1.45	(2.05)	3.35	(3.25)	12.07
EGO	1.82	(0.17)	0.00	(0.34)	0.00	0.00	3.39	(4.76)	12.12
HIHO	1.82	0.15	0.03	0.45	2.99	(2.13)	2.73	(2.70)	41.88
YTRA	1.70	0.14	0.04	0.31	2.21	(2.21)	4.97	(2.86)	17.55
ABCL	2.80	0.00	0.00	0.08	2.96	(3.29)	6.25	(5.47)	22.70

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