Burnham Holdings Correlations

BURCP Preferred Stock

USD 53.25 0.00 0.00%

The current 90-days correlation between Burnham Holdings PFD and Destination XL Group is -0.1 (i.e., Good diversification). The correlation of Burnham Holdings 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. If the correlation is 0, the equities are not correlated; they are entirely random.

Burnham Holdings Correlation With Market

Significant diversification

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

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

Moving together with Burnham Pink Sheet

0.68	TMCWW	TMC the metals	Pair Corr
0.72	FULC	Fulcrum Therapeutics	Pair Corr
0.75	BRKH	BurTech Acquisition Corp	Pair Corr
0.85	RGTI	Rigetti Computing Trending	Pair Corr

Moving against Burnham Pink Sheet

0.99	NMPWP	Niagara Mohawk Power	Pair Corr
0.95	PTAIF	PT Astra International	Pair Corr
0.89	SCVPF	Siam Cement	Pair Corr
0.76	OAK-PB	Oaktree Capital Group	Pair Corr
0.72	CVPBF	CP ALL Public	Pair Corr
0.66	PPERY	Bank Mandiri Persero	Pair Corr
0.61	PPERF	Bank Mandiri Persero	Pair Corr
0.56	PTAIY	Astra International Tbk	Pair Corr
0.5	ELCPF	EDP Energias	Pair Corr
0.49	BKRKF	PT Bank Rakyat	Pair Corr
0.49	BKRKY	Bank Rakyat	Pair Corr
0.49	TLKMF	Telkom Indonesia Tbk	Pair Corr
0.38	TLK	Telkom Indonesia Tbk	Pair Corr
0.69	ENDV	Endonovo Therapeutics	Pair Corr

Related Correlations Analysis

	SCWTF	TLF	BOOT	GAP	NOW	DXLG	ALNT	BNTX
SCWTF		0.0	0.0	0.0	0.0	0.0	0.0	0.0	SCWTF
TLF	0.0		0.18	0.35	0.44	-0.15	0.23	0.17	TLF
BOOT	0.0	0.18		-0.03	-0.34	0.14	-0.33	0.51	BOOT
GAP	0.0	0.35	-0.03		0.84	-0.53	0.81	0.31	GAP
NOW	0.0	0.44	-0.34	0.84		-0.46	0.92	0.02	NOW
DXLG	0.0	-0.15	0.14	-0.53	-0.46		-0.45	-0.24	DXLG
ALNT	0.0	0.23	-0.33	0.81	0.92	-0.45		-0.02	ALNT
BNTX	0.0	0.17	0.51	0.31	0.02	-0.24	-0.02		BNTX
	SCWTF	TLF	BOOT	GAP	NOW	DXLG	ALNT	BNTX

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

ALNT	+ 0.92	NOW
NOW	+ 0.84	GAP
ALNT	+ 0.81	GAP
BNTX	+ 0.51	BOOT
NOW	+ 0.44	TLF
GAP	+ 0.35	TLF

High negative correlations

DXLG	- 0.53	GAP
DXLG	- 0.46	NOW
ALNT	- 0.45	DXLG
NOW	- 0.34	BOOT
ALNT	- 0.33	BOOT
BNTX	- 0.24	DXLG

Risk-Adjusted Indicators

There is a big difference between Burnham Pink Sheet performing well and Burnham Holdings 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 Burnham Holdings' 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
SCWTF	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
TLF	1.56	0.24	0.13	1.73	1.31	(2.31)	3.02	(2.38)	23.47
BOOT	1.90	(0.03)	0.00	(0.06)	0.00	0.00	5.01	(3.12)	22.20
GAP	1.71	0.24	0.12	0.37	1.69	(2.01)	5.26	(3.22)	17.10
NOW	1.32	0.33	0.21	2.73	1.24	(1.55)	2.77	(2.38)	11.04
DXLG	2.73	0.04	0.01	0.08	3.29	(3.16)	5.39	(5.33)	23.16
ALNT	2.03	0.55	0.22	0.71	2.05	(2.30)	4.75	(4.45)	13.67
BNTX	1.94	(0.03)	0.00	(0.09)	0.00	0.00	4.53	(4.00)	11.96

Be your own money manager

Our tools can tell you how much better you can do entering a position in Burnham Holdings 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.

Did you try this?

Run Bond Analysis Now

Bond Analysis

Evaluate and analyze corporate bonds as a potential investment for your portfolios.

All Next

Launch Module

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