SMOOTH ROCK Correlations

YT1 Stock

0.16 0.00 0.00%

The current 90-days correlation between SMOOTH ROCK VENTURES and Hong Kong Exchanges is -0.03 (i.e., Good diversification). The correlation of SMOOTH ROCK 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.

SMOOTH ROCK Correlation With Market

Very weak diversification

The correlation between SMOOTH ROCK VENTURES and DJI is 0.46 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding SMOOTH ROCK VENTURES and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with SMOOTH Stock

0.61	TOTB	TotalEnergies SE	Pair Corr
0.66	6IC	Iridium Communications	Pair Corr
0.7	VVD	Veolia Environnement Earnings Call This Week	Pair Corr
0.63	WWR	Woolworths Group Earnings Call This Week	Pair Corr
0.64	ENR	Siemens Energy AG	Pair Corr
0.76	NPV	Nippon Carbon	Pair Corr
0.65	7GA	Gestamp Automoción Earnings Call This Week	Pair Corr
0.66	ENI	Eni SpA Earnings Call This Week	Pair Corr

Moving against SMOOTH Stock

0.42	DAP	DANAHER (DAPSG)	Pair Corr
0.4	ABL	Abbott Laboratories	Pair Corr

Related Correlations Analysis

	ABL	DAP	6MK	AMD	4I1	W8V	TOTB	AMG	HBC1	HK2C
ABL		0.51	-0.64	-0.14	-0.8	-0.23	-0.8	-0.49	-0.81	0.21	ABL
DAP	0.51		-0.36	0.31	-0.45	-0.23	-0.73	-0.63	-0.33	0.0	DAP
6MK	-0.64	-0.36		-0.32	0.86	0.24	0.82	0.7	0.83	-0.14	6MK
AMD	-0.14	0.31	-0.32		-0.02	0.06	-0.17	-0.26	0.01	0.37	AMD
4I1	-0.8	-0.45	0.86	-0.02		0.31	0.86	0.66	0.9	0.0	4I1
W8V	-0.23	-0.23	0.24	0.06	0.31		0.35	0.4	0.2	0.41	W8V
TOTB	-0.8	-0.73	0.82	-0.17	0.86	0.35		0.79	0.77	-0.04	TOTB
AMG	-0.49	-0.63	0.7	-0.26	0.66	0.4	0.79		0.46	0.26	AMG
HBC1	-0.81	-0.33	0.83	0.01	0.9	0.2	0.77	0.46		-0.18	HBC1
HK2C	0.21	0.0	-0.14	0.37	0.0	0.41	-0.04	0.26	-0.18		HK2C
	ABL	DAP	6MK	AMD	4I1	W8V	TOTB	AMG	HBC1	HK2C

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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

HBC1	+ 0.9	4I1
4I1	+ 0.86	6MK
TOTB	+ 0.86	4I1
HBC1	+ 0.83	6MK
TOTB	+ 0.82	6MK
AMG	+ 0.79	TOTB

High negative correlations

HBC1	- 0.81	ABL
TOTB	- 0.8	ABL
4I1	- 0.8	ABL
TOTB	- 0.73	DAP
6MK	- 0.64	ABL
AMG	- 0.63	DAP

Risk-Adjusted Indicators

There is a big difference between SMOOTH Stock performing well and SMOOTH ROCK 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 SMOOTH ROCK'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
ABL	1.09	(0.18)	0.00	0.32	0.00	0.00	1.91	(2.11)	14.56
DAP	1.25	(0.09)	0.00	0.36	0.00	0.00	2.32	(2.98)	8.54
6MK	1.32	0.41	0.21	(0.97)	1.24	(1.56)	3.38	(2.23)	8.41
AMD	2.61	(0.23)	0.00	0.68	0.00	0.00	6.13	(5.57)	24.55
4I1	1.13	0.25	0.12	(3.26)	1.23	(1.25)	2.89	(2.55)	7.67
W8V	1.51	0.00	0.00	0.05	2.76	(3.37)	2.08	(2.04)	24.03
TOTB	0.95	0.28	0.19	(1.99)	0.88	(1.07)	2.23	(1.62)	5.97
AMG	1.44	0.20	0.07	(0.44)	1.61	(1.50)	3.66	(2.86)	10.69
HBC1	1.12	0.23	0.12	0.52	1.31	(1.28)	2.99	(2.05)	8.75
HK2C	0.43	(0.14)	0.00	(1.09)	0.00	0.00	1.27	(1.47)	3.91

SMOOTH ROCK Related Equities

One of the popular trading techniques among algorithmic traders is to use market-neutral strategies where every trade hedges away some risk. Because there are two separate transactions required, even if one position performs unexpectedly, the other equity can make up some of the losses. Below are some of the equities that can be combined with SMOOTH ROCK stock to make a market-neutral strategy. Peer analysis of SMOOTH ROCK could also be used in its relative valuation, which is a method of valuing SMOOTH ROCK by comparing valuation metrics with similar companies.

Abbott Laboratories DANAHER Merck Co Advanced Micro Devices Philip Morris International BANK OF CHINA TotalEnergies SE Amgen Inc HSBC HLDG Hong Kong Exchanges American Airlines Group Alcoa Corp Apple Inc Best Buy Co Citigroup

Risk & Return

Correlation

SMOOTH ROCK Corporate Executives

Elected by the shareholders, the SMOOTH ROCK's board of directors comprises two types of representatives: SMOOTH ROCK inside directors who are chosen from within the company, and outside directors, selected externally and held independent of SMOOTH. The board's role is to monitor SMOOTH ROCK's management team and ensure that shareholders' interests are well served. SMOOTH ROCK's inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, SMOOTH ROCK's outside directors are responsible for providing unbiased perspectives on the board's policies.

Christopher CA

Corporate CFO

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