Nexien Biopharma Correlations

NXEN Stock  USD 0.02  0.01  42.86%   
The current 90-days correlation between Nexien Biopharma and Choom Holdings is 0.02 (i.e., Significant diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Nexien Biopharma moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Nexien Biopharma moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Nexien Biopharma Correlation With Market

Very good diversification

The correlation between Nexien Biopharma and DJI is -0.22 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Nexien Biopharma and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to Nexien Biopharma could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Nexien Biopharma 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 Nexien Biopharma - 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 Nexien Biopharma to buy it.

Moving together with Nexien Pink Sheet

  0.61TEVA Teva Pharma IndustriesPairCorr

Moving against Nexien Pink Sheet

  0.39SLF Sun Life FinancialPairCorr
  0.32SIGL Signal AdvancePairCorr
  0.34MMM 3M Company Sell-off TrendPairCorr

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   
SNOACHOOF
AQSTCANN
CVSICANN
CHOOFEDXC
CVSIEDXC
AQSTCVSI
  
High negative correlations   
MSMYCHOOF
GSACCHOOF
GSACCVSI
GSACSNOA
GSACEDXC
LOVFFCANN

Risk-Adjusted Indicators

There is a big difference between Nexien Pink Sheet performing well and Nexien Biopharma 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 Nexien Biopharma'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
EDXC  6.04 (0.27) 0.00  0.90  0.00 
 15.38 
 32.23 
CHOOF  3.08 (2.35) 0.00 (0.26) 0.00 
 0.00 
 100.00 
CANN  5.67  0.11  0.00  0.09  0.00 
 14.05 
 44.14 
CVSI  4.23 (0.16) 0.00  0.05  6.67 
 25.00 
 45.00 
LOVFF  2.73  0.17  0.00 (0.14) 4.49 
 9.30 
 36.67 
SNOA  4.77 (0.17)(0.02) 0.02  5.63 
 10.71 
 40.82 
MSMY  6.91  0.92  0.06  1.64  7.19 
 16.67 
 58.33 
UNRV  0.00  0.00  0.00  0.00  0.00 
 0.00 
 0.00 
GSAC  10.01  1.33  0.04 (4.15) 10.80 
 33.33 
 58.33 
AQST  3.43 (0.16)(0.02) 0.04  4.08 
 6.51 
 20.93 

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Our tools can tell you how much better you can do entering a position in Nexien Biopharma 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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