Mydecine Innovations Correlations
| MYCOF Stock | USD 0.01 0 25.00% |
The current 90-days correlation between Mydecine Innovations and Nextmart is -0.17 (i.e., Good diversification). The correlation of Mydecine Innovations 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.
Mydecine Innovations Correlation With Market
Modest diversification
The correlation between Mydecine Innovations Group and DJI is 0.25 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Mydecine Innovations Group and DJI in the same portfolio, assuming nothing else is changed.
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The ability to find closely correlated positions to Mydecine Innovations could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Mydecine Innovations 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 Mydecine Innovations - 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 Mydecine Innovations Group to buy it.
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
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Risk-Adjusted Indicators
There is a big difference between Mydecine Pink Sheet performing well and Mydecine Innovations 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 Mydecine Innovations' 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| GEGI | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
| NXMR | 18.86 | 5.23 | 0.08 | (0.48) | 17.92 | 50.00 | 419.44 | |||
| EMGE | 6.07 | (0.32) | 0.00 | 0.56 | 0.00 | 18.18 | 40.00 | |||
| WNFT | 12.32 | 2.76 | 0.21 | 17.13 | 10.10 | 29.41 | 201.23 | |||
| GCLT | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
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Mydecine Innovations Corporate Management
| Sanford Stein | Gen Officer | Profile | |
| Damon Michaels | CoFounder COO | Profile | |
| Robert MA | Chief CoFounder | Profile | |
| William Cook | Interim Inc | Profile | |
| Morgan Kervitsky | Director Marketing | Profile | |
| Michel Rudolphie | Pres Operations | Profile | |
| David Bartch | CEO, CoFounder | Profile |