NEWFOUNDLAND DISCOVCORP Correlations

M4K Stock   0.04  0.0005  1.37%   
The current 90-days correlation between NEWFOUNDLAND DISCOVCORP and Apple Inc is -0.21 (i.e., Very good diversification). The correlation of NEWFOUNDLAND DISCOVCORP 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.

NEWFOUNDLAND DISCOVCORP Correlation With Market

Good diversification

The correlation between NEWFOUNDLAND DISCOVCORP and DJI is -0.13 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding NEWFOUNDLAND DISCOVCORP and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to NEWFOUNDLAND DISCOVCORP could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace NEWFOUNDLAND DISCOVCORP 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 NEWFOUNDLAND DISCOVCORP - 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 NEWFOUNDLAND DISCOVCORP to buy it.

Moving against NEWFOUNDLAND Stock

  0.38TCID Telkom Indonesia TbkPairCorr
  0.35SSU Samsung ElectronicsPairCorr
  0.34TCID Telkom Indonesia TbkPairCorr
  0.34PTI Perusahaan PerseroanPairCorr
  0.32SSUN Samsung ElectronicsPairCorr
  0.32SSUN Samsung ElectronicsPairCorr
  0.31SSU Samsung ElectronicsPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between NEWFOUNDLAND Stock performing well and NEWFOUNDLAND DISCOVCORP 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 NEWFOUNDLAND DISCOVCORP'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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
APC  0.88  0.26  0.20  0.76  0.89 
 1.81 
 4.97 
APC  0.85  0.25  0.18  0.78  0.98 
 1.88 
 5.24 
APC  0.86  0.26  0.21  1.37  0.84 
 2.06 
 4.50 
APC  0.93  0.26  0.17  0.70  1.04 
 2.22 
 6.45 
APC  0.95  0.27  0.23  0.74  0.74 
 2.83 
 5.24 
APC  0.84  0.26  0.20  0.64  1.00 
 1.88 
 6.46 
MSF  0.96  0.10  0.06  0.29  1.25 
 2.55 
 8.71 
MSF  1.05  0.09  0.05  0.19  1.38 
 2.35 
 9.11 
MSF  1.00  0.10  0.05  0.27  1.48 
 2.42 
 11.42 
MSF  0.92  0.09  0.05  0.28  1.33 
 2.04 
 8.79 

Be your own money manager

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