Tevano Systems Correlations

The current 90-days correlation between Tevano Systems Holdings and G Medical Innovations is 0.05 (i.e., Significant diversification). The correlation of Tevano Systems 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.

Tevano Systems Correlation With Market

Significant diversification

The correlation between Tevano Systems Holdings and DJI is 0.07 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Tevano Systems Holdings and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Tevano Pink Sheet

0.88	BDX	Becton Dickinson	Pair Corr
0.89	ALC	Alcon AG	Pair Corr
0.61	HOCPY	Hoya Corp	Pair Corr
0.74	SDMHF	Sartorius Stedim Biotech	Pair Corr

Moving against Tevano Pink Sheet

0.89	LUNR	Intuitive Machines	Pair Corr
0.85	BAC	Bank of America Fiscal Year End 10th of January 2025	Pair Corr
0.82	ISRG	Intuitive Surgical Sell-off Trend	Pair Corr
0.75	PYPL	PayPal Holdings Aggressive Push	Pair Corr
0.73	BBAI	BigBearai Holdings	Pair Corr
0.72	SOUN	SoundHound AI Trending	Pair Corr
0.67	AVTE	Aerovate Therapeutics	Pair Corr
0.66	ESLOY	Essilor International	Pair Corr
0.64	APLD	Applied Blockchain	Pair Corr
0.62	ESLOF	EssilorLuxottica Socit	Pair Corr
0.55	GOOG	Alphabet Class C Buyout Trend	Pair Corr

Related Correlations Analysis

	WHSI	CEOS	INND	UTMD	ZJYL	NYXH	NXGL	DXR	MLSS	STSS
WHSI		0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	WHSI
CEOS	0.0		0.1	-0.19	-0.36	-0.68	0.33	0.2	0.32	0.27	CEOS
INND	0.0	0.1		0.37	0.74	-0.13	-0.73	-0.02	0.53	0.8	INND
UTMD	0.0	-0.19	0.37		0.41	0.09	-0.29	0.31	0.07	0.39	UTMD
ZJYL	0.0	-0.36	0.74	0.41		0.42	-0.86	-0.14	0.44	0.54	ZJYL
NYXH	0.0	-0.68	-0.13	0.09	0.42		-0.38	-0.26	-0.21	-0.31	NYXH
NXGL	0.0	0.33	-0.73	-0.29	-0.86	-0.38		0.13	-0.4	-0.51	NXGL
DXR	0.0	0.2	-0.02	0.31	-0.14	-0.26	0.13		0.25	0.26	DXR
MLSS	0.0	0.32	0.53	0.07	0.44	-0.21	-0.4	0.25		0.57	MLSS
STSS	0.0	0.27	0.8	0.39	0.54	-0.31	-0.51	0.26	0.57		STSS
	WHSI	CEOS	INND	UTMD	ZJYL	NYXH	NXGL	DXR	MLSS	STSS

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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

STSS	+ 0.8	INND
ZJYL	+ 0.74	INND
STSS	+ 0.57	MLSS
STSS	+ 0.54	ZJYL
MLSS	+ 0.53	INND
MLSS	+ 0.44	ZJYL

High negative correlations

NXGL	- 0.86	ZJYL
NXGL	- 0.73	INND
NYXH	- 0.68	CEOS
STSS	- 0.51	NXGL
MLSS	- 0.4	NXGL
NXGL	- 0.38	NYXH

Risk-Adjusted Indicators

There is a big difference between Tevano Pink Sheet performing well and Tevano Systems 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 Tevano Systems' 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
WHSI	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
CEOS	8.80	0.60	0.07	0.47	7.94	(12.06)	27.03	(13.16)	81.48
INND	9.83	(1.70)	0.00	(1.70)	0.00	0.00	23.86	(24.14)	71.00
UTMD	0.70	(0.16)	0.00	(0.06)	0.00	0.00	1.12	(1.51)	7.07
ZJYL	5.44	(1.74)	0.00	(1.22)	0.00	0.00	8.49	(12.02)	78.47
NYXH	1.91	0.05	0.02	0.17	2.02	(2.26)	5.55	(3.60)	11.55
NXGL	3.22	0.38	0.09	0.71	3.31	(3.89)	8.02	(5.85)	28.75
DXR	2.35	0.01	(0.02)	0.14	2.72	(2.58)	5.27	(3.83)	12.94
MLSS	3.28	(0.12)	0.00	(0.08)	0.00	0.00	9.68	(6.82)	33.40
STSS	5.45	(1.33)	0.00	(3.79)	0.00	0.00	9.29	(12.23)	53.84

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Our tools can tell you how much better you can do entering a position in Tevano Systems 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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