Daybreak Oil Correlations

DBRM Stock  USD 0.0002  0.00  0.00%   
A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Daybreak Oil moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Daybreak Oil and moves in either direction, the perfectly negatively correlated security will move in the opposite direction.
  
The ability to find closely correlated positions to Daybreak Oil could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Daybreak Oil 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 Daybreak Oil - 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 Daybreak Oil and to buy it.

Moving together with Daybreak Pink Sheet

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  0.75VLKAF Volkswagen AGPairCorr
  0.75VWAGY Volkswagen AG 110PairCorr
  0.73VLKPF Volkswagen AG VZO Downward RallyPairCorr
  0.65JNJ Johnson JohnsonPairCorr
  0.72VZ Verizon CommunicationsPairCorr
  0.78TRV The Travelers CompaniesPairCorr

Moving against Daybreak Pink Sheet

  0.75AMZN Amazon IncPairCorr
  0.74AXP American ExpressPairCorr
  0.73HPQ HP IncPairCorr
  0.72BA BoeingPairCorr
  0.66BAC Bank of America Aggressive PushPairCorr
  0.58ACN Accenture plcPairCorr
  0.58HD Home DepotPairCorr
  0.53AA Alcoa CorpPairCorr
  0.52MSFT MicrosoftPairCorr
  0.48HNHPF Hon Hai PrecisionPairCorr
  0.47JPM JPMorgan Chase Sell-off TrendPairCorr
  0.44WMT WalmartPairCorr

Related Correlations Analysis

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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   
ATUUFBRNGF
ADXRFCSTPF
ATUUFCJAX
AERNCJAX
CSTPFBRNGF
AERNADXRF
  
High negative correlations   
CSTPFCJAX
ADXRFBRNGF
ADXRFCJAX
AERNCSTPF
AERNBRNGF
AERNATUUF

Risk-Adjusted Indicators

There is a big difference between Daybreak Pink Sheet performing well and Daybreak Oil 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 Daybreak Oil'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.

Be your own money manager

Our tools can tell you how much better you can do entering a position in Daybreak Oil 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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Pair Correlation

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