SMG Industries Correlations

SMGI Stock

USD 0.0005 0.0003 150.00%

The current 90-days correlation between SMG Industries and CWC Energy Services is 0.01 (i.e., Significant diversification). The correlation of SMG Industries 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.

SMG Industries Correlation With Market

Modest diversification

The correlation between SMG Industries and DJI is 0.27 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding SMG Industries and DJI in the same portfolio, assuming nothing else is changed.

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

Moving against SMG Pink Sheet

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0.42	FI	Fiserv,	Pair Corr
0.38	TNRSF	Tenaris SA	Pair Corr
0.35	BKR	Baker Hughes Earnings Call This Week	Pair Corr
0.55	QNCX	Quince Therapeutics,	Pair Corr
0.39	CLS	Celestica	Pair Corr
0.34	MOGO	Mogo Inc	Pair Corr
0.34	RNMBF	Rheinmetall AG	Pair Corr
0.31	MUFG	Mitsubishi UFJ Financial Sell-off Trend	Pair Corr
0.48	VLRS	Volaris	Pair Corr
0.47	PAYC	Paycom Soft	Pair Corr
0.44	GILD	Gilead Sciences	Pair Corr
0.42	MITQ	Moving iMage Technologies	Pair Corr

Related Correlations Analysis

	WYGPY	POFCY	SAPMF	SUBCY	CAWLF	BRYFF	PLSDF	CFWFF
WYGPY		0.57	-0.68	0.32	0.66	-0.4	0.37	0.44	WYGPY
POFCY	0.57		-0.87	0.06	0.79	-0.45	-0.04	0.32	POFCY
SAPMF	-0.68	-0.87		-0.21	-0.81	0.43	-0.05	-0.32	SAPMF
SUBCY	0.32	0.06	-0.21		-0.12	-0.23	0.27	-0.06	SUBCY
CAWLF	0.66	0.79	-0.81	-0.12		-0.53	0.17	0.4	CAWLF
BRYFF	-0.4	-0.45	0.43	-0.23	-0.53		-0.09	-0.15	BRYFF
PLSDF	0.37	-0.04	-0.05	0.27	0.17	-0.09		0.27	PLSDF
CFWFF	0.44	0.32	-0.32	-0.06	0.4	-0.15	0.27		CFWFF
	WYGPY	POFCY	SAPMF	SUBCY	CAWLF	BRYFF	PLSDF	CFWFF

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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

CAWLF	+ 0.79	POFCY
CAWLF	+ 0.66	WYGPY
POFCY	+ 0.57	WYGPY
CFWFF	+ 0.44	WYGPY
BRYFF	+ 0.43	SAPMF
CFWFF	+ 0.4	CAWLF

High negative correlations

SAPMF	- 0.87	POFCY
CAWLF	- 0.81	SAPMF
SAPMF	- 0.68	WYGPY
BRYFF	- 0.53	CAWLF
BRYFF	- 0.45	POFCY
BRYFF	- 0.4	WYGPY

Risk-Adjusted Indicators

There is a big difference between SMG Pink Sheet performing well and SMG Industries 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 SMG Industries' 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
WYGPY	2.97	(0.04)	0.00	(0.03)	0.00	0.00	7.08	(6.69)	19.09
POFCY	6.27	(0.14)	0.00	0.10	0.00	0.00	20.00	(16.67)	45.00
SAPMF	0.91	0.40	0.00	(2.76)	0.00	0.00	4.49	0.00	10.94
SUBCY	1.63	0.24	0.10	(10.71)	1.71	(1.93)	4.70	(3.37)	7.99
CAWLF	1.06	(0.55)	0.00	1.10	0.00	0.00	0.00	0.00	25.00
BRYFF	6.80	1.73	0.00	1.19	0.00	0.00	13.33	(8.70)	140.00
PLSDF	1.63	0.07	0.02	(0.18)	2.07	(1.93)	3.18	(4.09)	13.67
CFWFF	1.54	(0.01)	(0.01)	(0.01)	2.09	(2.55)	4.56	(3.96)	18.95

Be your own money manager

Our tools can tell you how much better you can do entering a position in SMG Industries 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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