Newlake Capital Correlations

OTC Stocks . USA . 
Stock . Newlake Capital Partners
NLCP Stock  USD 15.09  0.15  1.00%   
The current 90-days correlation between Newlake Capital Partners and AFC Gamma is 0.03 (i.e., Significant diversification). The correlation of Newlake Capital 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. If the correlation is 0, the equities are not correlated; they are entirely random.

Newlake Capital Correlation With Market

Average diversification

The correlation between Newlake Capital Partners and DJI is 0.14 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Newlake Capital Partners and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to Newlake Capital could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Newlake Capital 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 Newlake Capital - 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 Newlake Capital Partners to buy it.

Moving together with Newlake OTC Stock

  0.68EQIX EquinixPairCorr
  0.75DLR Digital Realty TrustPairCorr
  0.71IRM Iron MountainPairCorr
  0.63DIS Walt DisneyPairCorr

Moving against Newlake OTC Stock

  0.84CVX Chevron CorpPairCorr
  0.78COR CencoraPairCorr
  0.77JNJ Johnson JohnsonPairCorr
  0.76XOM Exxon Mobil Corp Earnings Call This WeekPairCorr
  0.76MMM 3M CompanyPairCorr
  0.74WM Waste ManagementPairCorr
  0.68AMT American Tower CorpPairCorr
  0.67INTC Intel Sell-off TrendPairCorr
  0.63GLPI Gaming Leisure PropertiesPairCorr
  0.61CSCO Cisco SystemsPairCorr
  0.61IBM International BusinessPairCorr
  0.6SBAC SBA Communications CorpPairCorr
  0.58TRV The Travelers CompaniesPairCorr
  0.52WY WeyerhaeuserPairCorr
  0.51MCD McDonaldsPairCorr
  0.49CCI Crown CastlePairCorr

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   
GMRE
+ 0.61
REFI
PW
+ 0.32
PINE
REFI
+ 0.24
AFCG
PW
+ 0.14
AFCG
PINE
+ 0.08
AFCG
  
High negative correlations   
GMRE
- 0.7
PW
PW
- 0.43
REFI
GMRE
- 0.41
AFCG
REFI
- 0.24
PINE
GMRE
- 0.17
PINE

Risk-Adjusted Indicators

There is a big difference between Newlake OTC Stock performing well and Newlake Capital OTC Stock 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 Newlake Capital'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.

Be your own money manager

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