Acuren Correlations

ADMNF Stock

12.98 0.08 0.62%

The current 90-days correlation between Acuren and Franklin Wireless Corp is -0.03 (i.e., Good diversification). The correlation of Acuren 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.

Acuren Correlation With Market

Average diversification

The correlation between Acuren and DJI is 0.15 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Acuren and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Acuren Pink Sheet

0.75	BMYMP	Bristol Myers Squibb	Pair Corr
0.8	BRK-A	Berkshire Hathaway	Pair Corr
0.82	VWAPY	Volkswagen AG Pref	Pair Corr
0.83	VLKAF	Volkswagen AG	Pair Corr
0.83	VWAGY	Volkswagen AG 110	Pair Corr
0.79	VLKPF	Volkswagen AG VZO Downward Rally	Pair Corr
0.84	SR	Spire Inc	Pair Corr
0.75	CMSQF	Computershare Limited	Pair Corr
0.73	WZZAF	Wizz Air Holdings	Pair Corr
0.85	GLBXF	Globex Mining Enterprises	Pair Corr
0.67	BSET	Bassett Furniture	Pair Corr
0.67	BJCHY	Beijing Capital Inte Earnings Call This Week	Pair Corr
0.84	SGAPY	Singapore Telecommunicatio	Pair Corr
0.72	FANUF	Fanuc	Pair Corr
0.76	BLTH	American Battery Mat	Pair Corr
0.73	BTT	Blackrock Municipal	Pair Corr
0.86	CWPS	Conwest Assoc Part	Pair Corr
0.72	GOTRF	Goliath Resources	Pair Corr

Moving against Acuren Pink Sheet

0.67	AAPL	Apple Inc	Pair Corr
0.65	MSFT	Microsoft	Pair Corr
0.63	QMCO	Quantum Trending	Pair Corr
0.62	HNHPF	Hon Hai Precision	Pair Corr
0.59	BOWL	Bowlero Corp Symbol Change	Pair Corr
0.56	NVDA	NVIDIA	Pair Corr
0.53	GOOG	Alphabet Class C	Pair Corr
0.33	AMZN	Amazon Inc	Pair Corr

Related Correlations Analysis

	FKWL	IRDM	LAC	ACLS	GOLD	JELD	AVNT	NYXH
FKWL		0.49	-0.58	-0.83	0.78	-0.82	-0.15	0.52	FKWL
IRDM	0.49		-0.18	-0.15	0.31	-0.28	0.4	0.0	IRDM
LAC	-0.58	-0.18		0.78	-0.45	0.66	0.25	-0.2	LAC
ACLS	-0.83	-0.15	0.78		-0.77	0.8	0.31	-0.49	ACLS
GOLD	0.78	0.31	-0.45	-0.77		-0.65	0.14	0.4	GOLD
JELD	-0.82	-0.28	0.66	0.8	-0.65		0.45	-0.25	JELD
AVNT	-0.15	0.4	0.25	0.31	0.14	0.45		-0.19	AVNT
NYXH	0.52	0.0	-0.2	-0.49	0.4	-0.25	-0.19		NYXH
	FKWL	IRDM	LAC	ACLS	GOLD	JELD	AVNT	NYXH

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

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

JELD	+ 0.8	ACLS
GOLD	+ 0.78	FKWL
ACLS	+ 0.78	LAC
JELD	+ 0.66	LAC
NYXH	+ 0.52	FKWL
IRDM	+ 0.49	FKWL

High negative correlations

ACLS	- 0.83	FKWL
JELD	- 0.82	FKWL
GOLD	- 0.77	ACLS
JELD	- 0.65	GOLD
LAC	- 0.58	FKWL
NYXH	- 0.49	ACLS

Risk-Adjusted Indicators

There is a big difference between Acuren Pink Sheet performing well and Acuren 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 Acuren'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
FKWL	2.48	0.55	0.18	0.46	2.56	(3.08)	6.59	(4.86)	17.61
IRDM	1.77	(0.02)	0.00	(0.11)	0.00	0.00	2.69	(3.25)	22.16
LAC	2.89	(0.05)	0.00	(0.13)	0.00	0.00	6.73	(5.87)	18.06
ACLS	1.95	(0.33)	0.00	(0.50)	0.00	0.00	3.46	(5.01)	18.06
GOLD	1.48	0.24	0.16	0.44	1.68	(1.61)	3.05	(2.73)	10.08
JELD	2.90	(0.65)	0.00	(1.13)	0.00	0.00	4.69	(6.28)	33.01
AVNT	1.44	(0.17)	0.00	(0.25)	0.00	0.00	2.89	(2.40)	8.24
NYXH	1.94	0.51	0.30	0.92	1.43	(3.22)	7.83	(3.79)	18.32

Acuren 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 Acuren pink sheet to make a market-neutral strategy. Peer analysis of Acuren could also be used in its relative valuation, which is a method of valuing Acuren by comparing valuation metrics with similar companies.

Franklin Wireless Corp Iridium Communications Lithium Americas Corp Axcelis Technologies Barrick Gold Corp Jeld Wen Holding Avient Corp Nyxoah American Airlines Group Alcoa Corp Apple Inc Best Buy Co Citigroup SentinelOne CVS Health Corp

Risk & Return

Correlation

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2024 Macroaxis LLC