Kinaxis Correlations

KXSCF Stock  USD 109.20  1.21  1.10%   
The current 90-days correlation between Kinaxis and Enghouse Systems Limited is -0.06 (i.e., Good diversification). The correlation of Kinaxis 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.

Kinaxis Correlation With Market

Modest diversification

The correlation between Kinaxis and DJI is 0.23 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Kinaxis and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to Kinaxis could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Kinaxis 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 Kinaxis - 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 Kinaxis to buy it.

Moving against Kinaxis Pink Sheet

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  0.52LH LaboratoryPairCorr
  0.5PG Procter GamblePairCorr
  0.49PTLKF PT Lippo KarawaciPairCorr
  0.48DD Dupont De NemoursPairCorr
  0.48XOM Exxon Mobil CorpPairCorr
  0.47CYBQF CYBERDYNEPairCorr
  0.45GE GE AerospacePairCorr
  0.44PKX POSCO HoldingsPairCorr

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   
OONEFROWKF
ROWKFTMSNY
EGHSFSGPYY
TMSNYSGPYY
TMSNYXROLF
EGHSFWTCHF
  
High negative correlations   
ROWKFEGHSF
OONEFEGHSF
TMSNYEGHSF
XROLFWTCHF
OONEFSGPYY
ROWKFSGPYY

Risk-Adjusted Indicators

There is a big difference between Kinaxis Pink Sheet performing well and Kinaxis 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 Kinaxis' 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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
WTCHF  1.09 (0.52) 0.00 (18.09) 0.00 
 0.00 
 20.89 
SGPYY  0.80 (0.01) 0.00 (0.15) 0.00 
 1.80 
 6.16 
EGHSF  1.34 (0.19) 0.00 (0.68) 0.00 
 2.89 
 15.30 
XROLF  1.07  0.03  0.00 (0.07) 0.00 
 3.67 
 22.55 
ALMFF  0.00  0.00  0.00  0.00  0.00 
 0.00 
 0.00 
TMSNY  1.42  0.40  0.24  0.50  1.65 
 3.82 
 13.39 
ROWKF  0.70  0.24  0.00 (0.99) 0.00 
 0.00 
 17.50 
DPSIP  0.00  0.00  0.00  0.00  0.00 
 0.00 
 0.00 
FMEGF  0.00  0.00  0.00  0.00  0.00 
 0.00 
 0.00 
OONEF  11.57  2.64  0.22 (0.94) 11.82 
 34.48 
 97.45 

Be your own money manager

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