City Developments Correlations
| CDEVY Stock | USD 3.73 0.05 1.32% |
The current 90-days correlation between City Developments and UOL Group Ltd is 0.14 (i.e., Average diversification). The correlation of City Developments 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.
City Developments Correlation With Market
Significant diversification
The correlation between City Developments and DJI is 0.04 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding City Developments and DJI in the same portfolio, assuming nothing else is changed.
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The ability to find closely correlated positions to City Developments could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace City Developments 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 City Developments - 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 City Developments to buy it.
Moving together with City Pink Sheet
| 0.82 | SUHJY | Sun Hung Kai | PairCorr |
| 0.75 | SUHJF | Sun Hung Kai | PairCorr |
| 0.69 | CRBJY | China Resources Land | PairCorr |
| 0.66 | CRBJF | China Resources Land | PairCorr |
| 0.66 | CHVKF | China Vanke | PairCorr |
| 0.62 | CHVKY | China Vanke | PairCorr |
| 0.82 | CAOVY | China Overseas Land | PairCorr |
Moving against City Pink Sheet
| 0.75 | TSLA | Tesla Inc Fiscal Year End 22nd of January 2025 | PairCorr |
| 0.74 | BKSY | Blacksky Technology | PairCorr |
| 0.7 | DIS | Walt Disney | PairCorr |
| 0.6 | REFI | Chicago Atlantic Real | PairCorr |
| 0.54 | UPST | Upstart Holdings | PairCorr |
| 0.52 | FSLY | Fastly Inc | PairCorr |
| 0.47 | MC | Moelis | PairCorr |
| 0.46 | MO | Altria Group | PairCorr |
| 0.37 | NRXP | NRX Pharmaceuticals Trending | PairCorr |
| 0.74 | RITM-PC | Rithm Capital Corp | PairCorr |
| 0.69 | GOOGL | Alphabet Class A Aggressive Push | PairCorr |
| 0.64 | AKBTY | Akbank Turk Anonim | PairCorr |
| 0.64 | SHOP | Shopify | PairCorr |
| 0.64 | EHGO | Eshallgo Class A | PairCorr |
| 0.62 | AAPL | Apple Inc | PairCorr |
| 0.62 | AI | C3 Ai Inc | PairCorr |
| 0.59 | TDUP | ThredUp | PairCorr |
| 0.57 | EQIX | Equinix | PairCorr |
| 0.56 | GS | Goldman Sachs Group Earnings Call This Week | PairCorr |
| 0.51 | T | ATT Inc Sell-off Trend | PairCorr |
| 0.48 | PSTG | Pure Storage | PairCorr |
Related Correlations Analysis
| 0.81 | 0.7 | 0.8 | 0.42 | 0.33 | UOLGY | ||
| 0.81 | 0.77 | 0.77 | 0.55 | 0.36 | HLDCY | ||
| 0.7 | 0.77 | 0.74 | 0.62 | 0.62 | HLPPY | ||
| 0.8 | 0.77 | 0.74 | 0.47 | 0.54 | ALFVY | ||
| 0.42 | 0.55 | 0.62 | 0.47 | 0.22 | CIBEY | ||
| 0.33 | 0.36 | 0.62 | 0.54 | 0.22 | BTVCY | ||
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Risk-Adjusted Indicators
There is a big difference between City Pink Sheet performing well and City Developments 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 City Developments' 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| UOLGY | 0.95 | (0.19) | 0.00 | (0.86) | 0.00 | 1.72 | 13.89 | |||
| HLDCY | 1.34 | (0.27) | 0.00 | (1.60) | 0.00 | 2.45 | 7.32 | |||
| HLPPY | 1.87 | (0.37) | 0.00 | 2.19 | 0.00 | 3.53 | 18.93 | |||
| ALFVY | 1.06 | (0.17) | 0.00 | (0.55) | 0.00 | 1.88 | 7.11 | |||
| CIBEY | 1.19 | (0.19) | 0.00 | (0.90) | 0.00 | 2.63 | 8.30 | |||
| BTVCY | 0.26 | (0.05) | 0.00 | (1.69) | 0.00 | 0.70 | 3.31 |
Be your own money manager
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