Harrys Manufacturing Correlations

WSRRF Stock

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The current 90-days correlation between Harrys Manufacturing and Cult Food Science is 0.03 (i.e., Significant diversification). The correlation of Harrys Manufacturing 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.

Harrys Manufacturing Correlation With Market

Very good diversification

The correlation between Harrys Manufacturing and DJI is -0.31 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Harrys Manufacturing and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Harrys Pink Sheet

0.86	BTI	British American Tobacco	Pair Corr
0.8	BTAFF	British American Tobacco	Pair Corr
0.87	JAPAY	Japan Tobacco ADR	Pair Corr
0.81	JAPAF	Japan Tobacco	Pair Corr
0.73	IMBBY	Imperial Brands PLC	Pair Corr
0.69	IMBBF	Imperial Brands PLC	Pair Corr
0.68	WMT	Walmart Common Stock	Pair Corr
0.65	ACN	Accenture plc	Pair Corr
0.77	VLKAF	Volkswagen AG	Pair Corr
0.77	VWAGY	Volkswagen AG 110	Pair Corr
0.72	VLKPF	Volkswagen AG VZO	Pair Corr
0.69	RIVN	Rivian Automotive Aggressive Push	Pair Corr
0.71	CALC	CalciMedica, Common Stock Trending	Pair Corr
0.72	KODK	Eastman Kodak	Pair Corr
0.68	TPB	Turning Point Brands	Pair Corr
0.73	AAPL	Apple Inc	Pair Corr
0.73	TGI	Triumph Group	Pair Corr
0.73	ATRO	Astronics	Pair Corr
0.74	BORR	Borr Drilling	Pair Corr
0.63	GDYN	Grid Dynamics Holdings	Pair Corr

Moving against Harrys Pink Sheet

0.88	JD	JD Inc Adr	Pair Corr
0.64	MO	Altria Group	Pair Corr
0.42	SMORF	Smoore International	Pair Corr
0.41	HNHPF	Hon Hai Precision	Pair Corr
0.36	NYMXF	Nymox Pharmaceutical	Pair Corr
0.67	KTRIF	KTRIF	Pair Corr
0.65	ADVWW	Advantage Solutions	Pair Corr
0.46	TATT	Tat Techno	Pair Corr
0.46	VHAI	VHAI	Pair Corr
0.34	GHST	GHST World	Pair Corr

Related Correlations Analysis

	RSSFF	AMNC	CULTF	NUVM	STEV	ALKM	MTTCF	TOBAF	BLEG	HVCW
RSSFF		-0.23	-0.12	-0.01	-0.23	0.16	-0.41	0.28	0.06	0.0	RSSFF
AMNC	-0.23		0.64	-0.45	0.58	-0.05	0.48	-0.3	0.14	0.0	AMNC
CULTF	-0.12	0.64		-0.78	0.64	-0.13	0.04	-0.13	0.47	0.0	CULTF
NUVM	-0.01	-0.45	-0.78		-0.61	-0.15	0.32	0.06	-0.49	0.0	NUVM
STEV	-0.23	0.58	0.64	-0.61		0.04	0.06	-0.14	0.27	0.0	STEV
ALKM	0.16	-0.05	-0.13	-0.15	0.04		-0.14	0.0	0.07	0.0	ALKM
MTTCF	-0.41	0.48	0.04	0.32	0.06	-0.14		-0.46	-0.35	0.0	MTTCF
TOBAF	0.28	-0.3	-0.13	0.06	-0.14	0.0	-0.46		0.15	0.0	TOBAF
BLEG	0.06	0.14	0.47	-0.49	0.27	0.07	-0.35	0.15		0.0	BLEG
HVCW	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0		HVCW
	RSSFF	AMNC	CULTF	NUVM	STEV	ALKM	MTTCF	TOBAF	BLEG	HVCW

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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

CULTF	+ 0.64	AMNC
STEV	+ 0.64	CULTF
STEV	+ 0.58	AMNC
MTTCF	+ 0.48	AMNC
BLEG	+ 0.47	CULTF
MTTCF	+ 0.32	NUVM

High negative correlations

NUVM	- 0.78	CULTF
STEV	- 0.61	NUVM
BLEG	- 0.49	NUVM
TOBAF	- 0.46	MTTCF
NUVM	- 0.45	AMNC
MTTCF	- 0.41	RSSFF

Risk-Adjusted Indicators

There is a big difference between Harrys Pink Sheet performing well and Harrys Manufacturing 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 Harrys Manufacturing'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
RSSFF	15.16	4.87	0.12	(2.07)	12.03	(60.16)	60.00	(37.50)	292.86
AMNC	4.37	(2.47)	0.00	(1.19)	0.00	0.00	0.00	(1.93)	99.57
CULTF	9.88	(0.54)	0.00	0.18	0.00	0.00	28.33	(22.50)	83.06
NUVM	7.06	3.29	0.00	(2.16)	0.00	0.00	2.78	(2.00)	246.60
STEV	8.22	0.13	0.00	(0.01)	10.22	(12.35)	18.75	(15.79)	70.83
ALKM	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
MTTCF	1.90	(0.44)	0.00	(0.35)	0.00	0.00	0.00	0.00	66.67
TOBAF	76.25	32.83	0.60	(2.56)	34.40	(133.54)	212.50	(72.73)	1,456
BLEG	17.07	2.01	0.08	0.47	15.38	(49.31)	50.00	(33.33)	133.33
HVCW	0.00	0.00	0.00	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 Harrys Manufacturing 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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