DOCDATA Correlations

DOC2 Stock

EUR 0.43 0.02 4.88%

The current 90-days correlation between DOCDATA and Hemisphere Energy Corp is -0.02 (i.e., Good diversification). The correlation of DOCDATA 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.

DOCDATA Correlation With Market

Average diversification

The correlation between DOCDATA and DJI is 0.17 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding DOCDATA and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with DOCDATA Stock

0.73

TKDA

Takeda Pharmaceutical

Pair Corr

Moving against DOCDATA Stock

0.84	AMZ	Amazon Inc	Pair Corr
0.79	KBIA	KB Financial Group	Pair Corr
0.77	FHL	Federal Home Loan	Pair Corr
0.77	SID	State Bank	Pair Corr
0.7	APC	Apple Inc	Pair Corr
0.7	APC	Apple Inc	Pair Corr
0.69	APC	Apple Inc	Pair Corr
0.69	APC	Apple Inc	Pair Corr
0.59	MSF	Microsoft	Pair Corr
0.59	MSF	Microsoft	Pair Corr
0.59	MSF	Microsoft	Pair Corr
0.59	MSF	Microsoft	Pair Corr
0.58	MSF	Microsoft	Pair Corr
0.5	W8V	Bank of China Limited	Pair Corr
0.38	E908	Lyxor 1	Pair Corr

Related Correlations Analysis

	2DG	DDN	RS6	QBI	HYEA	5AM	MEL	N4Q1	P5IB
2DG		-0.84	-0.89	-0.19	0.31	-0.16	-0.81	-0.5	-0.12	2DG
DDN	-0.84		0.9	0.17	-0.32	0.21	0.72	0.48	0.02	DDN
RS6	-0.89	0.9		0.1	-0.3	0.23	0.8	0.51	0.08	RS6
QBI	-0.19	0.17	0.1		0.0	0.17	0.07	0.1	0.04	QBI
HYEA	0.31	-0.32	-0.3	0.0		0.36	-0.33	0.33	0.32	HYEA
5AM	-0.16	0.21	0.23	0.17	0.36		0.07	0.62	0.31	5AM
MEL	-0.81	0.72	0.8	0.07	-0.33	0.07		0.37	0.03	MEL
N4Q1	-0.5	0.48	0.51	0.1	0.33	0.62	0.37		0.5	N4Q1
P5IB	-0.12	0.02	0.08	0.04	0.32	0.31	0.03	0.5		P5IB
	2DG	DDN	RS6	QBI	HYEA	5AM	MEL	N4Q1	P5IB

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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

RS6	+ 0.9	DDN
MEL	+ 0.8	RS6
MEL	+ 0.72	DDN
N4Q1	+ 0.62	5AM
N4Q1	+ 0.51	RS6
P5IB	+ 0.5	N4Q1

High negative correlations

RS6	- 0.89	2DG
DDN	- 0.84	2DG
MEL	- 0.81	2DG
N4Q1	- 0.5	2DG
MEL	- 0.33	HYEA
HYEA	- 0.32	DDN

Risk-Adjusted Indicators

There is a big difference between DOCDATA Stock performing well and DOCDATA 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 DOCDATA'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
2DG	4.54	(0.84)	0.00	1.89	0.00	0.00	9.09	(9.09)	52.42
DDN	1.09	0.20	0.12	0.63	0.84	(1.38)	2.84	(1.73)	10.23
RS6	1.35	0.04	0.10	0.15	1.33	(1.60)	2.94	(2.17)	13.51
QBI	0.03	0.00	0.00	0.44	0.00	0.00	0.00	0.00	1.01
HYEA	2.07	(0.25)	0.00	(0.01)	0.00	0.00	5.10	(3.45)	22.00
5AM	5.10	0.54	0.05	1.03	5.66	(8.64)	13.33	(11.76)	33.04
MEL	0.99	(0.03)	(0.07)	0.07	1.22	(1.09)	2.53	(1.78)	7.09
N4Q1	1.33	0.16	0.00	(0.42)	1.68	(1.97)	3.88	(3.10)	9.39
P5IB	10.49	0.93	0.07	0.57	12.57	(14.03)	20.00	(21.43)	129.48

Be your own money manager

Our tools can tell you how much better you can do entering a position in DOCDATA 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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