Magnis Energy Correlations

MNSEF Stock

USD 0.03 0.01 25.00%

The current 90-days correlation between Magnis Energy Techno and Novonix Ltd ADR is 0.06 (i.e., Significant diversification). The correlation of Magnis Energy 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.

Magnis Energy Correlation With Market

Significant diversification

The correlation between Magnis Energy Technologies and DJI is 0.03 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Magnis Energy Technologies and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Magnis Pink Sheet

0.63	LGRDY	Legrand SA ADR	Pair Corr
0.83	SIGL	Signal Advance	Pair Corr
0.67	PLTR	Palantir Technologies Aggressive Push	Pair Corr
0.7	GLU	Gabelli Global Utility	Pair Corr
0.79	WM	Waste Management	Pair Corr

Moving against Magnis Pink Sheet

0.75	GLUC	Glucose Health	Pair Corr
0.57	VRT	Vertiv Holdings	Pair Corr
0.55	SLF	Sun Life Financial	Pair Corr
0.43	2457	Phihong Technology	Pair Corr

Related Correlations Analysis

	NVX	EXROF	ILIKF	NHHHF	NVNXF	FLUX	NEOV	ESP	WIRE
NVX		0.74	-0.79	0.2	0.98	0.64	0.87	0.72	0.0	NVX
EXROF	0.74		-0.85	0.1	0.72	0.47	0.78	0.54	0.0	EXROF
ILIKF	-0.79	-0.85		-0.08	-0.77	-0.56	-0.72	-0.64	0.0	ILIKF
NHHHF	0.2	0.1	-0.08		0.16	-0.15	0.19	0.16	0.0	NHHHF
NVNXF	0.98	0.72	-0.77	0.16		0.63	0.84	0.65	0.0	NVNXF
FLUX	0.64	0.47	-0.56	-0.15	0.63		0.32	0.48	0.0	FLUX
NEOV	0.87	0.78	-0.72	0.19	0.84	0.32		0.64	0.0	NEOV
ESP	0.72	0.54	-0.64	0.16	0.65	0.48	0.64		0.0	ESP
WIRE	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0		WIRE
	NVX	EXROF	ILIKF	NHHHF	NVNXF	FLUX	NEOV	ESP	WIRE

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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

NVNXF	+ 0.98	NVX
NEOV	+ 0.87	NVX
NEOV	+ 0.84	NVNXF
NEOV	+ 0.78	EXROF
EXROF	+ 0.74	NVX
ESP	+ 0.72	NVX

High negative correlations

ILIKF	- 0.85	EXROF
ILIKF	- 0.79	NVX
NVNXF	- 0.77	ILIKF
NEOV	- 0.72	ILIKF
ESP	- 0.64	ILIKF
FLUX	- 0.56	ILIKF

Risk-Adjusted Indicators

There is a big difference between Magnis Pink Sheet performing well and Magnis Energy 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 Magnis Energy'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
NVX	3.63	(0.17)	0.00	(0.12)	0.00	0.00	6.37	(7.59)	19.62
EXROF	4.55	(0.22)	0.00	(2.91)	0.00	0.00	11.76	(8.70)	36.01
ILIKF	4.41	0.98	0.16	0.59	4.10	(6.82)	11.11	(7.41)	34.48
NHHHF	0.33	0.00	0.00	0.01	0.00	0.00	0.00	0.00	10.00
NVNXF	4.92	(0.01)	0.00	(0.01)	5.25	(7.39)	13.79	(9.09)	28.72
FLUX	4.74	0.48	0.09	0.75	5.29	(5.38)	10.74	(8.70)	40.07
NEOV	5.01	(0.80)	0.00	(0.26)	0.00	0.00	10.34	(10.09)	39.40
ESP	1.70	(0.01)	(0.01)	(0.03)	2.15	(1.81)	3.04	(3.33)	15.86
WIRE	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00

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Our tools can tell you how much better you can do entering a position in Magnis Energy 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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Magnis Energy Corporate Management

Jawahar Nerkar	Director Technologies	Profile
Julian LLB	G Sec	Profile
Frank MAICD	Ex Chairman	Profile
Con Hoursalas	Group Mang	Profile
David Taylor	Chief Officer	Profile
Aran CFA	Mang Relations	Profile
Jurgen BFIN	Chief Officer	Profile

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