Ocean Harvest Correlations

OHT Stock

6.00 0.37 6.57%

The current 90-days correlation between Ocean Harvest Technology and MyHealthChecked Plc is -0.12 (i.e., Good diversification). The correlation of Ocean Harvest 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.

Ocean Harvest Correlation With Market

Significant diversification

The correlation between Ocean Harvest Technology and DJI is 0.06 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Ocean Harvest Technology and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Ocean Stock

0.69	0LC3	Synchrony Financial	Pair Corr
0.84	0I9F	Digital Realty Trust	Pair Corr

Moving against Ocean Stock

0.91	0KII	SSAB AB ser	Pair Corr
0.86	0LO4	Ventas Inc	Pair Corr
0.81	SLP	Sylvania Platinum	Pair Corr
0.63	NBS	Nationwide Building	Pair Corr

Related Correlations Analysis

	PHP	0J1R	0R6V	MHC	EAH	WWH	0R9G	FNX
PHP		0.39	0.62	0.06	-0.44	-0.35	0.2	-0.3	PHP
0J1R	0.39		0.67	0.61	-0.57	0.1	0.45	-0.26	0J1R
0R6V	0.62	0.67		0.51	-0.86	-0.16	0.67	-0.28	0R6V
MHC	0.06	0.61	0.51		-0.57	0.6	0.57	0.22	MHC
EAH	-0.44	-0.57	-0.86	-0.57		0.18	-0.65	0.33	EAH
WWH	-0.35	0.1	-0.16	0.6	0.18		0.24	0.72	WWH
0R9G	0.2	0.45	0.67	0.57	-0.65	0.24		0.13	0R9G
FNX	-0.3	-0.26	-0.28	0.22	0.33	0.72	0.13		FNX
	PHP	0J1R	0R6V	MHC	EAH	WWH	0R9G	FNX

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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

FNX	+ 0.72	WWH
0R6V	+ 0.67	0J1R
0R9G	+ 0.67	0R6V
0R6V	+ 0.62	PHP
MHC	+ 0.61	0J1R
WWH	+ 0.6	MHC

High negative correlations

EAH	- 0.86	0R6V
0R9G	- 0.65	EAH
EAH	- 0.57	MHC
EAH	- 0.57	0J1R
EAH	- 0.44	PHP
WWH	- 0.35	PHP

Risk-Adjusted Indicators

There is a big difference between Ocean Stock performing well and Ocean Harvest 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 Ocean Harvest'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
PHP	1.11	0.07	0.06	0.48	1.07	(1.39)	2.40	(1.73)	6.00
0J1R	1.47	0.16	0.06	(4.49)	2.24	(1.38)	2.95	(3.22)	12.44
0R6V	1.12	0.42	0.32	2.21	0.88	(1.41)	2.72	(2.09)	6.51
MHC	2.12	0.51	0.17	(1.13)	1.29	(8.28)	8.19	(3.12)	28.21
EAH	1.05	(0.27)	0.00	(2.13)	0.00	0.00	1.74	(3.76)	12.77
WWH	0.83	(0.04)	0.00	(0.10)	0.00	0.00	1.49	(1.67)	5.29
0R9G	0.99	0.07	0.05	(0.20)	1.00	(1.39)	2.35	(1.71)	7.41
FNX	1.70	(0.18)	0.00	(2.99)	0.00	0.00	4.16	(3.78)	11.33

Be your own money manager

Our tools can tell you how much better you can do entering a position in Ocean Harvest 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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