Conifex Timber Correlations

CFXTF Stock

USD 0.22 0.00 0.00%

The current 90-days correlation between Conifex Timber and nLIGHT Inc is -0.28 (i.e., Very good diversification). The correlation of Conifex Timber 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.

Conifex Timber Correlation With Market

Very good diversification

The correlation between Conifex Timber and DJI is -0.22 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Conifex Timber and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Conifex Pink Sheet

0.66	PCTTW	PureCycle Technologies	Pair Corr
0.67	PBCRY	Bank Central Asia	Pair Corr

Moving against Conifex Pink Sheet

0.88	ATCOL	Atlas Corp	Pair Corr
0.79	NVRO	Nevro Corp	Pair Corr
0.75	GCMGW	GCM Grosvenor	Pair Corr
0.75	MBFJF	Mitsubishi UFJ Financial Normal Trading	Pair Corr
0.73	CSCO	Cisco Systems	Pair Corr
0.52	MZHOF	Mizuho Financial Normal Trading	Pair Corr
0.5	MAPSW	WM Technology	Pair Corr
0.87	GE	GE Aerospace	Pair Corr
0.76	CVX	Chevron Corp Sell-off Trend	Pair Corr
0.67	JNJ	Johnson Johnson	Pair Corr
0.55	JPM	JPMorgan Chase	Pair Corr
0.5	XOM	Exxon Mobil Corp Aggressive Push	Pair Corr
0.44	VZ	Verizon Communications	Pair Corr
0.42	TRV	The Travelers Companies	Pair Corr
0.31	PFE	Pfizer Inc Aggressive Push	Pair Corr

Related Correlations Analysis

	ARW	LASR	UMC	FKWL	APAM	NTGR	IPGP
ARW		0.75	-0.41	-0.66	0.54	0.37	0.85	ARW
LASR	0.75		-0.67	-0.62	0.44	0.66	0.74	LASR
UMC	-0.41	-0.67		0.26	-0.34	-0.52	-0.27	UMC
FKWL	-0.66	-0.62	0.26		-0.19	-0.46	-0.88	FKWL
APAM	0.54	0.44	-0.34	-0.19		0.39	0.29	APAM
NTGR	0.37	0.66	-0.52	-0.46	0.39		0.42	NTGR
IPGP	0.85	0.74	-0.27	-0.88	0.29	0.42		IPGP
	ARW	LASR	UMC	FKWL	APAM	NTGR	IPGP

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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

IPGP	+ 0.85	ARW
LASR	+ 0.75	ARW
IPGP	+ 0.74	LASR
NTGR	+ 0.66	LASR
APAM	+ 0.54	ARW
APAM	+ 0.44	LASR

High negative correlations

IPGP	- 0.88	FKWL
UMC	- 0.67	LASR
FKWL	- 0.66	ARW
FKWL	- 0.62	LASR
NTGR	- 0.52	UMC
NTGR	- 0.46	FKWL

Risk-Adjusted Indicators

There is a big difference between Conifex Pink Sheet performing well and Conifex Timber 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 Conifex Timber'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
ARW	1.15	(0.16)	0.00	(0.27)	0.00	0.00	1.76	(2.62)	6.75
LASR	2.64	(0.22)	0.00	(0.26)	0.00	0.00	5.67	(7.08)	16.59
UMC	1.52	0.05	0.07	(0.30)	2.03	(1.56)	3.58	(3.62)	8.20
FKWL	2.48	0.46	0.17	3.05	2.56	(3.08)	6.59	(4.86)	17.61
APAM	1.47	(0.09)	0.00	(0.14)	0.00	0.00	2.39	(3.39)	9.44
NTGR	2.21	0.02	0.00	(0.05)	0.00	0.00	4.41	(5.11)	12.12
IPGP	1.78	(0.18)	0.00	(0.27)	0.00	0.00	4.39	(4.31)	9.93

Be your own money manager

Our tools can tell you how much better you can do entering a position in Conifex Timber 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.

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