MAINZ BIOMED Correlations

Stocks . Germany . 
Stock . MAINZ BIOMED BV
4TO Stock   8.00  0.00  0.00%   
The current 90-days correlation between MAINZ BIOMED BV and Apple Inc is -0.04 (i.e., Good diversification). The correlation of MAINZ BIOMED 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.

MAINZ BIOMED Correlation With Market

Good diversification

The correlation between MAINZ BIOMED BV and DJI is -0.11 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding MAINZ BIOMED BV and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to MAINZ BIOMED could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace MAINZ BIOMED 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 MAINZ BIOMED - 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 MAINZ BIOMED BV to buy it.

Moving together with MAINZ Stock

  0.63VAR1 Varta AGPairCorr

Moving against MAINZ Stock

  0.6SK3 Smurfit Kappa GroupPairCorr
  0.592T9A TRAINLINE PLC LSPairCorr
  0.59RZH SCOTT TECHNOLOGYPairCorr
  0.47MSF MicrosoftPairCorr
  0.47MSF MicrosoftPairCorr
  0.47MSF MicrosoftPairCorr
  0.47WD5A TRAVEL LEISURE DLPairCorr
  0.46MSF MicrosoftPairCorr
  0.46MSF MicrosoftPairCorr
  0.46PPB Flutter Entertainment PLCPairCorr
  0.44LIE Sun Life FinancialPairCorr
  0.44SYY SyscoPairCorr
  0.43CQD Charter CommunicationsPairCorr
  0.39VA7A VERISK ANLYTCS APairCorr
  0.38EN3 EnbridgePairCorr
  0.384GE Grupo Mxico SABPairCorr
  0.37PNP PNC FinancialPairCorr
  0.35APC Apple IncPairCorr
  0.35APC Apple IncPairCorr
  0.35APC Apple IncPairCorr
  0.35APC Apple IncPairCorr
  0.35APC Apple IncPairCorr
  0.35HXL HexcelPairCorr
  0.34APC Apple IncPairCorr
  0.34M5V EHEALTHPairCorr
  0.34NGLD ANGLO AMERICAN SPADRPairCorr
  0.33WX1 Acadia Realty TrustPairCorr
  0.31M4I MastercardPairCorr
  0.52QAN Qantas AirwaysPairCorr
  0.52VAI Vail ResortsPairCorr
  0.492CDA Controladora Vuela CompaaPairCorr
  0.48HIP Park Hotels ResortsPairCorr
  0.48EQN2 EquinixPairCorr
  0.48PTX Palantir TechnologiesPairCorr
  0.482WY Wyndham Hotels ResortsPairCorr
  0.47UFH US FOODS HOLDINGPairCorr
  0.420XHR Xenia Hotels ResortsPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between MAINZ Stock performing well and MAINZ BIOMED 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 MAINZ BIOMED'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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
APC  0.88  0.26  0.20  0.76  0.89 
(0.99)
 1.81 
(1.75)
 4.97 
APC  0.85  0.25  0.18  0.78  0.98 
(0.93)
 1.88 
(1.73)
 5.24 
APC  0.86  0.26  0.21  1.37  0.84 
(0.95)
 2.06 
(1.76)
 4.50 
APC  0.93  0.26  0.17  0.70  1.04 
(0.99)
 2.22 
(1.83)
 6.45 
APC  0.95  0.27  0.23  0.74  0.74 
(1.11)
 2.83 
(1.69)
 5.24 
APC  0.84  0.26  0.20  0.64  1.00 
(0.95)
 1.88 
(1.61)
 6.46 
MSF  0.96  0.10  0.06  0.29  1.25 
(1.17)
 2.55 
(1.46)
 8.71 
MSF  1.05  0.09  0.05  0.19  1.38 
(1.17)
 2.35 
(1.75)
 9.11 
MSF  1.00  0.10  0.05  0.27  1.48 
(1.16)
 2.42 
(1.66)
 11.42 
MSF  0.92  0.09  0.05  0.28  1.33 
(1.00)
 2.04 
(1.49)
 8.79 

MAINZ BIOMED 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 MAINZ BIOMED stock to make a market-neutral strategy. Peer analysis of MAINZ BIOMED could also be used in its relative valuation, which is a method of valuing MAINZ BIOMED by comparing valuation metrics with similar companies.
 Risk & Return  Correlation
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