NuVim Correlations
| NUVM Stock | USD 0.01 0.00 0.00% |
A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as NuVim moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if NuVim Inc moves in either direction, the perfectly negatively correlated security will move in the opposite direction.
NuVim Correlation With Market
Significant diversification
The correlation between NuVim Inc and DJI is 0.05 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding NuVim Inc and DJI in the same portfolio, assuming nothing else is changed.
NuVim |
The ability to find closely correlated positions to NuVim could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace NuVim 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 NuVim - 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 NuVim Inc to buy it.
Moving together with NuVim Pink Sheet
| 0.86 | BRK-A | Berkshire Hathaway | PairCorr |
| 0.79 | FREKF | freee KK | PairCorr |
| 0.7 | BACQU | Bleichroeder Acquisition | PairCorr |
| 0.84 | SR | Spire Inc | PairCorr |
| 0.62 | CHT | Chunghwa Telecom | PairCorr |
| 0.62 | WZZAF | Wizz Air Holdings | PairCorr |
| 0.63 | TD | Toronto Dominion Bank | PairCorr |
| 0.79 | MTTR | Matterport | PairCorr |
| 0.66 | KT | KT Corporation | PairCorr |
| 0.88 | CMSQF | Computershare Limited | PairCorr |
| 0.73 | COOTW | Australian Oilseeds | PairCorr |
| 0.66 | AONNY | Aeon Co | PairCorr |
Moving against NuVim Pink Sheet
| 0.8 | GOOG | Alphabet Class C Sell-off Trend | PairCorr |
| 0.77 | AMZN | Amazon Inc | PairCorr |
| 0.74 | MSFT | Microsoft | PairCorr |
| 0.54 | NVDA | NVIDIA Aggressive Push | PairCorr |
| 0.45 | FUAPF | Global Cannabis Appl | PairCorr |
| 0.4 | DMIFF | Diamcor Mining | PairCorr |
| 0.38 | SES | SES AI Corp | PairCorr |
| 0.58 | QMCO | Quantum Trending | PairCorr |
| 0.52 | CHNXF | ChitogenX | PairCorr |
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
| High negative correlations
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Risk-Adjusted Indicators
There is a big difference between NuVim Pink Sheet performing well and NuVim 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 NuVim'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| PCLI | 20.80 | 7.68 | 0.27 | 26.84 | 13.73 | 45.85 | 306.46 | |||
| NXMR | 14.96 | 6.74 | 0.00 | 2.28 | 0.00 | 0.00 | 500.00 | |||
| KRFG | 19.90 | 5.17 | 0.11 | 1.36 | 17.25 | 100.00 | 150.00 | |||
| SPQS | 18.57 | 1.65 | 0.07 | (0.35) | 18.04 | 50.00 | 150.00 | |||
| OCLG | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Be your own money manager
Our tools can tell you how much better you can do entering a position in NuVim 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.Did you try this?
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