Freedom Holdings Correlations

FHLD Stock

USD 0.23 0.02 8.00%

The current 90-days correlation between Freedom Holdings and RTL Group SA is 0.13 (i.e., Average diversification). The correlation of Freedom 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.

Freedom Holdings Correlation With Market

Significant diversification

The correlation between Freedom Holdings 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 Freedom Holdings and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to Freedom 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 Freedom 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 Freedom 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 Freedom Holdings to buy it.

Moving together with Freedom Pink Sheet

0.73	NNMTF	Nine Entertainment	Pair Corr
0.61	PDD	PDD Holdings	Pair Corr
0.73	BFFAF	BASF SE NA	Pair Corr
0.69	CPNFF	Euro Sun Mining	Pair Corr
0.73	T	ATT Inc Downward Rally	Pair Corr
0.71	TTWO	Take Two Interactive	Pair Corr
0.68	SHUNF	Shunfeng International	Pair Corr

Moving against Freedom Pink Sheet

0.53	TGNA	Tegna Inc	Pair Corr
0.43	STI	Solidion Technology	Pair Corr
0.39	BCLI	Brainstorm Cell Ther	Pair Corr

Related Correlations Analysis

	RGLXY	ITVPF	ITVPY	EMMS	IHRTB	PBSFY	AZTEF	RGLXF
RGLXY		0.48	0.06	0.0	-0.62	0.44	0.29	-0.47	RGLXY
ITVPF	0.48		0.07	0.0	-0.35	0.08	0.08	-0.38	ITVPF
ITVPY	0.06	0.07		0.0	-0.02	0.41	0.02	-0.43	ITVPY
EMMS	0.0	0.0	0.0		0.0	0.0	0.0	0.0	EMMS
IHRTB	-0.62	-0.35	-0.02	0.0		-0.46	-0.72	0.61	IHRTB
PBSFY	0.44	0.08	0.41	0.0	-0.46		0.28	-0.63	PBSFY
AZTEF	0.29	0.08	0.02	0.0	-0.72	0.28		-0.4	AZTEF
RGLXF	-0.47	-0.38	-0.43	0.0	0.61	-0.63	-0.4		RGLXF
	RGLXY	ITVPF	ITVPY	EMMS	IHRTB	PBSFY	AZTEF	RGLXF

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

RGLXF	+ 0.61	IHRTB
ITVPF	+ 0.48	RGLXY
PBSFY	+ 0.44	RGLXY
PBSFY	+ 0.41	ITVPY
AZTEF	+ 0.29	RGLXY
AZTEF	+ 0.28	PBSFY

High negative correlations

AZTEF	- 0.72	IHRTB
RGLXF	- 0.63	PBSFY
IHRTB	- 0.62	RGLXY
RGLXF	- 0.47	RGLXY
PBSFY	- 0.46	IHRTB
RGLXF	- 0.43	ITVPY

Risk-Adjusted Indicators

There is a big difference between Freedom Pink Sheet performing well and Freedom 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 Freedom 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
RGLXY	2.05	0.32	0.00	(0.42)	0.00	0.00	3.07	(1.18)	53.38
ITVPF	2.90	0.25	0.05	(0.70)	3.79	(7.66)	7.14	(7.41)	64.58
ITVPY	1.22	0.06	0.05	0.01	1.52	(1.51)	3.31	(2.36)	10.02
EMMS	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
IHRTB	0.96	(0.25)	0.00	0.37	0.00	0.00	0.00	0.00	40.37
PBSFY	1.68	0.33	0.12	(1.33)	1.83	(3.01)	8.03	(3.60)	16.53
AZTEF	1.49	0.84	0.00	0.75	0.00	0.00	0.00	0.00	50.00
RGLXF	0.68	(0.31)	0.00	(0.65)	0.00	0.00	0.00	0.00	22.62

Be your own money manager

Our tools can tell you how much better you can do entering a position in Freedom 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 Technical Analysis Now

Technical Analysis

Check basic technical indicators and analysis based on most latest market data

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