Tiidal Gaming Correlations
| TIIDF Stock | USD 0.04 0.00 0.00% |
The correlation of Tiidal Gaming 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 Tiidal Gaming moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Tiidal Gaming Group 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.
Significant diversification
The correlation between Tiidal Gaming Group and NYA is 0.05 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Tiidal Gaming Group and NYA in the same portfolio, assuming nothing else is changed.
Tiidal |
The ability to find closely correlated positions to Tiidal Gaming could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Tiidal Gaming 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 Tiidal Gaming - 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 Tiidal Gaming Group to buy it.
Moving against Tiidal Pink Sheet
| 0.69 | LYG | Lloyds Banking Group | PairCorr |
| 0.66 | MZHOF | Mizuho Financial | PairCorr |
| 0.63 | MFG | Mizuho Financial | PairCorr |
| 0.62 | NRG | NRG Energy | PairCorr |
| 0.6 | PHM | PulteGroup | PairCorr |
| 0.59 | SMFG | Sumitomo Mitsui Financial | PairCorr |
| 0.55 | SMFNF | Sumitomo Mitsui Financial Normal Trading | PairCorr |
| 0.51 | PHI | PLDT Inc ADR | PairCorr |
| 0.43 | KB | KB Financial Group | PairCorr |
| 0.43 | NLY | Annaly Capital Management | PairCorr |
Related Correlations Analysis
| Click cells to compare fundamentals | Check Volatility | Backtest Portfolio |
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
| High negative correlations
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Risk-Adjusted Indicators
There is a big difference between Tiidal Pink Sheet performing well and Tiidal Gaming 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 Tiidal Gaming'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| BLITF | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
| BRAG | 2.37 | 0.28 | 0.08 | 1.27 | 2.34 | 6.16 | 24.52 | |||
| SNAL | 3.00 | (0.16) | 0.00 | (1.01) | 0.00 | 6.06 | 47.20 | |||
| MYPS | 2.67 | (0.14) | 0.00 | (0.02) | 0.00 | 5.43 | 17.12 | |||
| GDEV | 1.51 | 0.06 | 0.00 | 0.01 | 0.00 | 4.55 | 14.39 | |||
| DDI | 3.91 | 0.14 | 0.01 | (0.16) | 5.17 | 9.08 | 34.48 | |||
| PLTK | 1.96 | 0.17 | 0.06 | 0.18 | 2.95 | 3.72 | 19.98 | |||
| GRVY | 1.64 | 0.13 | 0.05 | 0.23 | 1.99 | 3.12 | 13.84 | |||
| NTES | 1.66 | (0.21) | 0.00 | (0.06) | 0.00 | 4.11 | 10.42 | |||
| SOHU | 1.47 | 0.27 | 0.11 | 0.67 | 1.72 | 2.54 | 11.65 |
Be your own money manager
Our tools can tell you how much better you can do entering a position in Tiidal Gaming 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.Did you try this?
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Already Invested in Tiidal Gaming Group?
The danger of trading Tiidal Gaming Group is mainly related to its market volatility and Company specific events. As an investor, you must understand the concept of risk-adjusted return before you start trading. The most common way to measure the risk of Tiidal Gaming is by using the Sharpe ratio. The ratio expresses how much excess return you acquire for the extra volatility you endure for holding a more risker asset than Tiidal Gaming. The Sharpe ratio is calculated by using standard deviation and excess return to determine reward per unit of risk. To understand how volatile Tiidal Gaming Group is, you must compare it to a benchmark. Traditionally, the risk-free rate of return is the rate of return on the shortest-dated U.S. Treasury, such as a 3-year bond.
Check out World Market Map to better understand how to build diversified portfolios, which includes a position in Tiidal Gaming Group. Also, note that the market value of any company could be tightly coupled with the direction of predictive economic indicators such as signals in unemployment. Note that the Tiidal Gaming Group information on this page should be used as a complementary analysis to other Tiidal Gaming's statistical models used to find the right mix of equity instruments to add to your existing portfolios or create a brand new portfolio. You can also try the ETF Categories module to list of ETF categories grouped based on various criteria, such as the investment strategy or type of investments.
Complementary Tools for Tiidal Pink Sheet analysis
When running Tiidal Gaming's price analysis, check to measure Tiidal Gaming's market volatility, profitability, liquidity, solvency, efficiency, growth potential, financial leverage, and other vital indicators. We have many different tools that can be utilized to determine how healthy Tiidal Gaming is operating at the current time. Most of Tiidal Gaming's value examination focuses on studying past and present price action to predict the probability of Tiidal Gaming's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Tiidal Gaming's price. Additionally, you may evaluate how the addition of Tiidal Gaming to your portfolios can decrease your overall portfolio volatility.
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