Firm Capital Correlations

FRMUF Stock

USD 3.69 0.11 2.89%

The correlation of Firm Capital 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 perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Firm Capital moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Firm Capital Property moves in either direction, the perfectly negatively correlated security will move in the opposite direction. If the correlation is 0, the equities are not correlated; they are entirely random. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.

Modest diversification

The correlation between Firm Capital Property and NYA is 0.22 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Firm Capital Property and NYA in the same portfolio, assuming nothing else is changed.

Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in Firm Capital Property. Also, note that the market value of any company could be tightly coupled with the direction of predictive economic indicators such as signals in employment.

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

Moving together with Firm Pink Sheet

0.74	GMGSF	Goodman Group	Pair Corr
0.82	STOR	STORE Capital Corp	Pair Corr
0.78	LSGOF	Land Securities Group	Pair Corr
0.8	GSEFF	Covivio	Pair Corr
0.63	EC	Ecopetrol SA ADR	Pair Corr
0.64	PTITF	PT Indosat Tbk	Pair Corr
0.64	NVDA	NVIDIA Aggressive Push	Pair Corr

Moving against Firm Pink Sheet

0.79	TLKMF	Telkom Indonesia Tbk	Pair Corr
0.77	PUTKY	United Tractors Tbk	Pair Corr
0.69	TLK	Telkom Indonesia Tbk	Pair Corr
0.63	PTAIY	Astra International Tbk	Pair Corr
0.6	PIFMY	Indofood Sukses Makmur	Pair Corr
0.49	PIFMF	PT Indofood Sukses	Pair Corr

Related Correlations Analysis

	GNL	BRSP	NXDT	444859BR2	AQUI	BRRAY	MSTSX	ABHYX	LBHIX	SCAXF
GNL		-0.05	-0.42	0.03	0.0	0.43	0.92	0.78	0.85	0.52	GNL
BRSP	-0.05		0.66	0.24	0.0	-0.72	-0.13	0.13	-0.22	-0.67	BRSP
NXDT	-0.42	0.66		0.28	0.0	-0.69	-0.4	-0.15	-0.53	-0.6	NXDT
444859BR2	0.03	0.24	0.28		0.0	-0.19	-0.06	0.1	-0.03	-0.19	444859BR2
AQUI	0.0	0.0	0.0	0.0		0.0	0.0	0.0	0.0	0.0	AQUI
BRRAY	0.43	-0.72	-0.69	-0.19	0.0		0.47	0.13	0.47	0.78	BRRAY
MSTSX	0.92	-0.13	-0.4	-0.06	0.0	0.47		0.71	0.82	0.59	MSTSX
ABHYX	0.78	0.13	-0.15	0.1	0.0	0.13	0.71		0.8	0.33	ABHYX
LBHIX	0.85	-0.22	-0.53	-0.03	0.0	0.47	0.82	0.8		0.61	LBHIX
SCAXF	0.52	-0.67	-0.6	-0.19	0.0	0.78	0.59	0.33	0.61		SCAXF
	GNL	BRSP	NXDT	444859BR2	AQUI	BRRAY	MSTSX	ABHYX	LBHIX	SCAXF

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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

MSTSX	+ 0.92	GNL
LBHIX	+ 0.85	GNL
LBHIX	+ 0.82	MSTSX
LBHIX	+ 0.8	ABHYX
ABHYX	+ 0.78	GNL
SCAXF	+ 0.78	BRRAY

High negative correlations

BRRAY	- 0.72	BRSP
BRRAY	- 0.69	NXDT
SCAXF	- 0.67	BRSP
SCAXF	- 0.6	NXDT
LBHIX	- 0.53	NXDT
NXDT	- 0.42	GNL

Risk-Adjusted Indicators

There is a big difference between Firm Pink Sheet performing well and Firm Capital 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 Firm Capital'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
GNL	1.52	0.11	0.05	0.07	2.13	(1.46)	3.08	(3.74)	10.90
BRSP	1.40	(0.21)	0.00	(0.11)	0.00	0.00	2.44	(3.28)	8.67
NXDT	1.67	(0.20)	0.00	(0.28)	0.00	0.00	2.60	(4.26)	10.19
444859BR2	0.75	0.12	0.08	(0.78)	1.08	(0.88)	1.75	(1.01)	8.02
AQUI	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
BRRAY	3.24	0.64	0.06	(0.80)	4.01	(9.56)	16.06	(10.26)	45.69
MSTSX	0.47	0.02	0.02	0.04	0.69	(0.47)	0.92	(1.29)	3.08
ABHYX	0.15	0.00	(0.04)	(0.02)	0.16	(0.20)	0.34	(0.35)	1.03
LBHIX	0.17	0.01	0.00	0.06	0.12	(0.29)	0.49	(0.25)	0.98
SCAXF	4.43	1.78	0.00	(0.21)	0.00	0.00	0.00	0.00	182.60

Be your own money manager

Our tools can tell you how much better you can do entering a position in Firm Capital 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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