Worldsec Correlations

WSL Stock

1.25 0.00 0.00%

The current 90-days correlation between Worldsec and LG ELECTRONICS INC is -0.01 (i.e., Good diversification). The correlation of Worldsec 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.

Worldsec Correlation With Market

Poor diversification

The correlation between Worldsec and DJI is 0.79 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Worldsec and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Worldsec Stock

0.76	SMSN	Samsung Electronics	Pair Corr
0.63	OIT	Odyssean Investment Trust	Pair Corr
0.82	0J76	Huntington Ingalls	Pair Corr
0.7	0KXO	Ross Stores Earnings Call This Week	Pair Corr
0.85	0N4T	Nordea Bank Abp	Pair Corr
0.64	0JQQ	Archer Daniels Midland	Pair Corr
0.63	COST	Costain Group PLC	Pair Corr
0.62	AEP	Anglo-Eastern Plantations	Pair Corr
0.72	TGA	Thungela Resources	Pair Corr
0.73	YNGA	Young CoS Brewery	Pair Corr
0.8	0IC7	Dollar General Corp	Pair Corr
0.67	0L9Y	STMicroelectronics	Pair Corr
0.7	0R2I	Under Armour Cl	Pair Corr
0.67	0IF3	Eastman Chemical	Pair Corr
0.64	ALF	Alternative Liquidity	Pair Corr
0.79	HMSO	Hammerson PLC	Pair Corr
0.61	0JXF	Protector Forsikring ASA	Pair Corr
0.76	0R6R	Axfood AB	Pair Corr

Moving against Worldsec Stock

0.75	GAW	Games Workshop Group	Pair Corr
0.67	AUTO	Auto Trader Group	Pair Corr
0.64	MTC	Mothercare PLC	Pair Corr
0.62	RMV	Rightmove PLC	Pair Corr
0.38	0LOZ	VeriSign	Pair Corr
0.31	BVXP	Bioventix	Pair Corr
0.35	0HC8	Roularta Media Group	Pair Corr

Related Correlations Analysis

	SMSN	SMSD	BC94	TYT	SBID	0R15	OTPD	0L2T	LGLD
SMSN		1.0	1.0	0.85	0.92	-0.88	0.0	-0.43	0.86	SMSN
SMSD	1.0		1.0	0.86	0.89	-0.87	0.0	-0.46	0.86	SMSD
BC94	1.0	1.0		0.85	0.91	-0.88	0.0	-0.43	0.86	BC94
TYT	0.85	0.86	0.85		0.79	-0.78	0.0	-0.6	0.82	TYT
SBID	0.92	0.89	0.91	0.79		-0.78	0.0	-0.33	0.71	SBID
0R15	-0.88	-0.87	-0.88	-0.78	-0.78		0.0	0.55	-0.82	0R15
OTPD	0.0	0.0	0.0	0.0	0.0	0.0		0.0	0.0	OTPD
0L2T	-0.43	-0.46	-0.43	-0.6	-0.33	0.55	0.0		-0.42	0L2T
LGLD	0.86	0.86	0.86	0.82	0.71	-0.82	0.0	-0.42		LGLD
	SMSN	SMSD	BC94	TYT	SBID	0R15	OTPD	0L2T	LGLD

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

SMSD	+ 1.0	SMSN
BC94	+ 1.0	SMSN
BC94	+ 1.0	SMSD
SBID	+ 0.92	SMSN
SBID	+ 0.91	BC94
SBID	+ 0.89	SMSD

High negative correlations

0R15	- 0.88	BC94
0R15	- 0.88	SMSN
0R15	- 0.87	SMSD
LGLD	- 0.82	0R15
0R15	- 0.78	SBID
0R15	- 0.78	TYT

Risk-Adjusted Indicators

There is a big difference between Worldsec Stock performing well and Worldsec 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 Worldsec'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
SMSN	2.17	1.25	0.52	(2.04)	1.40	(2.71)	6.03	(3.03)	11.22
SMSD	2.01	1.11	0.42	(1.35)	1.41	(2.59)	5.44	(2.76)	12.16
BC94	2.06	1.25	0.49	(1.90)	1.42	(2.57)	5.77	(3.05)	13.29
TYT	1.30	0.33	0.12	(17.71)	1.30	(1.70)	3.26	(2.29)	10.55
SBID	1.18	0.23	0.12	0.45	1.20	(1.42)	2.85	(2.22)	9.78
0R15	6.24	(1.30)	0.00	0.81	0.00	0.00	10.30	(9.95)	107.52
OTPD	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
0L2T	3.84	1.67	0.43	50.21	2.59	(4.79)	12.21	(5.30)	26.07
LGLD	4.13	0.70	0.07	0.79	4.44	(9.28)	12.50	(11.43)	45.83

Be your own money manager

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