Green Technology Correlations

GTMLF Stock

0.08 0.00 0.00%

The correlation of Green Technology 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.

Green Technology Correlation With Market

Significant diversification

The correlation between Green Technology Metals 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 Green Technology Metals and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Green Pink Sheet

0.68	MUFG	Mitsubishi UFJ Financial	Pair Corr
0.65	MBFJF	Mitsubishi UFJ Financial	Pair Corr
0.72	MFG	Mizuho Financial	Pair Corr
0.77	T	ATT Inc Aggressive Push	Pair Corr
0.83	KO	Coca Cola Aggressive Push	Pair Corr
0.68	JPM	JPMorgan Chase	Pair Corr
0.72	GE	GE Aerospace Sell-off Trend	Pair Corr

Moving against Green Pink Sheet

0.65	GLCNF	Glencore PLC	Pair Corr
0.65	GLNCY	Glencore PLC ADR	Pair Corr
0.42	KB	KB Financial Group	Pair Corr
0.37	SHG	Shinhan Financial	Pair Corr
0.82	MRK	Merck Company Aggressive Push	Pair Corr
0.49	DIS	Walt Disney	Pair Corr
0.44	AA	Alcoa Corp	Pair Corr

Related Correlations Analysis

	LTHHF	LLKKF	AZLAF	SYAXF	ARYMF	NVSGF	NILIF	CRECF	LTHCF	QNICF
LTHHF		0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	LTHHF
LLKKF	0.0		0.17	0.57	0.65	-0.26	-0.1	-0.29	0.14	-0.21	LLKKF
AZLAF	0.0	0.17		0.16	0.19	0.0	-0.18	-0.19	-0.15	-0.16	AZLAF
SYAXF	0.0	0.57	0.16		0.66	-0.08	-0.03	-0.02	-0.1	-0.51	SYAXF
ARYMF	0.0	0.65	0.19	0.66		-0.04	0.04	-0.03	0.16	-0.51	ARYMF
NVSGF	0.0	-0.26	0.0	-0.08	-0.04		0.1	0.37	0.14	-0.08	NVSGF
NILIF	0.0	-0.1	-0.18	-0.03	0.04	0.1		0.53	0.36	-0.42	NILIF
CRECF	0.0	-0.29	-0.19	-0.02	-0.03	0.37	0.53		0.65	-0.3	CRECF
LTHCF	0.0	0.14	-0.15	-0.1	0.16	0.14	0.36	0.65		-0.32	LTHCF
QNICF	0.0	-0.21	-0.16	-0.51	-0.51	-0.08	-0.42	-0.3	-0.32		QNICF
	LTHHF	LLKKF	AZLAF	SYAXF	ARYMF	NVSGF	NILIF	CRECF	LTHCF	QNICF

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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

ARYMF	+ 0.66	SYAXF
ARYMF	+ 0.65	LLKKF
LTHCF	+ 0.65	CRECF
SYAXF	+ 0.57	LLKKF
CRECF	+ 0.53	NILIF
CRECF	+ 0.37	NVSGF

High negative correlations

QNICF	- 0.51	ARYMF
QNICF	- 0.51	SYAXF
QNICF	- 0.42	NILIF
QNICF	- 0.32	LTHCF
QNICF	- 0.3	CRECF
CRECF	- 0.29	LLKKF

Risk-Adjusted Indicators

There is a big difference between Green Pink Sheet performing well and Green Technology 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 Green Technology'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
LTHHF	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
LLKKF	4.68	(0.38)	0.00	0.32	0.00	0.00	9.62	(13.64)	26.31
AZLAF	15.40	2.40	0.10	(0.54)	17.15	(22.76)	47.00	(29.66)	127.04
SYAXF	5.10	(0.70)	0.00	2.56	0.00	0.00	10.78	(11.33)	25.43
ARYMF	4.42	0.00	0.00	(0.01)	7.08	(13.28)	15.29	(12.73)	60.91
NVSGF	3.79	0.91	0.00	(1.49)	0.00	0.00	6.82	0.00	150.00
NILIF	2.47	(0.05)	0.00	0.04	0.00	0.00	8.00	(4.17)	26.34
CRECF	4.54	0.61	0.11	1.46	3.91	(8.12)	12.90	(7.41)	29.52
LTHCF	2.70	0.08	0.02	(0.18)	3.32	(5.33)	7.58	(7.94)	21.33
QNICF	15.13	6.26	0.00	(1.49)	0.00	0.00	0.00	(15.38)	420.05

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