XP Power Correlations

XPPLF Stock

USD 11.50 0.00 0.00%

The correlation of XP Power 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.

XP Power Correlation With Market

Good diversification

The correlation between XP Power Limited and DJI is -0.02 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding XP Power Limited and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with XPPLF Pink Sheet

0.73	LGRDY	Legrand SA ADR	Pair Corr
0.68	LGRVF	Legrand SA	Pair Corr

Moving against XPPLF Pink Sheet

0.68	MIELY	Mitsubishi Electric Corp	Pair Corr
0.68	MIELF	Mitsubishi Electric	Pair Corr
0.32	FCTI	Fact Inc	Pair Corr
0.71	DDS	Dillards,	Pair Corr
0.66	SPGI	SP Global	Pair Corr
0.65	HL	Hecla Mining	Pair Corr
0.65	URBN	Urban Outfitters	Pair Corr
0.62	PHAR	Pharming Group NV	Pair Corr
0.55	RCRUY	Recruit Holdings	Pair Corr
0.54	JNJ	Johnson Johnson	Pair Corr
0.47	ASTI	Ascent Solar Technol Trending	Pair Corr
0.46	DNGFF	Dongfang ElectricLimited	Pair Corr
0.82	GPAEF	Grupo Aeroportuario del	Pair Corr
0.82	IDN	Intellicheck Mobilisa	Pair Corr
0.81	HIRU	Hiru	Pair Corr
0.81	GSVRF	Guanajuato Silver	Pair Corr
0.64	KODK	Eastman Kodak	Pair Corr
0.57	CSCO	Cisco Systems	Pair Corr

Related Correlations Analysis

	ABHBY	GRPRF	AERG	NLLSY	ENJPY	NOKFF	HBGRF	SEIGY	ALFNF	WJXFF
ABHBY		0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	ABHBY
GRPRF	0.0		0.15	-0.23	0.0	0.0	0.72	0.1	0.14	0.38	GRPRF
AERG	0.0	0.15		0.27	0.0	0.0	0.22	0.32	-0.35	-0.17	AERG
NLLSY	0.0	-0.23	0.27		0.0	0.0	-0.25	-0.09	-0.4	-0.54	NLLSY
ENJPY	0.0	0.0	0.0	0.0		1.0	0.0	0.0	0.0	0.0	ENJPY
NOKFF	0.0	0.0	0.0	0.0	1.0		0.0	0.0	0.0	0.0	NOKFF
HBGRF	0.0	0.72	0.22	-0.25	0.0	0.0		0.31	0.16	0.46	HBGRF
SEIGY	0.0	0.1	0.32	-0.09	0.0	0.0	0.31		-0.02	0.33	SEIGY
ALFNF	0.0	0.14	-0.35	-0.4	0.0	0.0	0.16	-0.02		0.58	ALFNF
WJXFF	0.0	0.38	-0.17	-0.54	0.0	0.0	0.46	0.33	0.58		WJXFF
	ABHBY	GRPRF	AERG	NLLSY	ENJPY	NOKFF	HBGRF	SEIGY	ALFNF	WJXFF

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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

NOKFF	+ 1.0	ENJPY
HBGRF	+ 0.72	GRPRF
WJXFF	+ 0.58	ALFNF
WJXFF	+ 0.46	HBGRF
WJXFF	+ 0.38	GRPRF
WJXFF	+ 0.33	SEIGY

High negative correlations

WJXFF	- 0.54	NLLSY
ALFNF	- 0.4	NLLSY
ALFNF	- 0.35	AERG
HBGRF	- 0.25	NLLSY
NLLSY	- 0.23	GRPRF
WJXFF	- 0.17	AERG

Risk-Adjusted Indicators

There is a big difference between XPPLF Pink Sheet performing well and XP Power 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 XP Power'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
ABHBY	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
GRPRF	0.04	0.01	0.00	4.60	0.00	0.00	0.00	0.00	1.45
AERG	2.96	0.24	0.06	0.42	3.44	(3.92)	7.02	(6.05)	28.53
NLLSY	1.36	(0.09)	0.00	(1.13)	0.00	0.00	2.96	(3.97)	27.75
ENJPY	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NOKFF	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
HBGRF	0.59	0.35	0.00	(0.32)	0.00	0.00	0.00	0.00	18.92
SEIGY	0.95	(0.06)	0.00	0.58	0.00	0.00	4.20	0.00	29.14
ALFNF	0.17	0.01	0.00	0.13	0.00	0.00	0.00	0.00	9.33
WJXFF	1.19	0.24	0.06	0.44	1.67	(1.62)	2.28	(3.22)	12.15

Be your own money manager

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