THINKIFIC LABS Correlations

Stocks Germany . 
Stock . THINKIFIC LABS INC
5S0 Stock  EUR 2.06  0.02  0.96%   
The current 90-days correlation between THINKIFIC LABS INC and Comba Telecom Systems is 0.07 (i.e., Significant diversification). The correlation of THINKIFIC LABS 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.

THINKIFIC LABS Correlation With Market

Good diversification

The correlation between THINKIFIC LABS INC and DJI is -0.06 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding THINKIFIC LABS INC and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to THINKIFIC LABS could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace THINKIFIC LABS 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 THINKIFIC LABS - 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 THINKIFIC LABS INC to buy it.

Moving against THINKIFIC Stock

  0.86PQ9 BANK MANDIRIPairCorr
  0.83PQ9 BANK MANDIRIPairCorr
  0.82PQ9 PT Bank MandiriPairCorr
  0.76BYRA BANK RAKYAT INDPairCorr
  0.74BYRA PT Bank RakyatPairCorr
  0.69PQ9 BANK MANDIRIPairCorr
  0.62M6 Medtronic PLCPairCorr
  0.59SAP SAP SEPairCorr
  0.57SAPA SAP SEPairCorr
  0.39BYRA PT Bank RakyatPairCorr
  0.36BYRA BANK RAKYAT INDPairCorr
  0.33W7D WorkdayPairCorr
  0.31307 ShopifyPairCorr
  0.899D50 ADURO CLEAN TECHN SplitPairCorr
  0.834SB SBA Communications CorpPairCorr
  0.813HM MSCI IncPairCorr
  0.77CQD Charter CommunicationsPairCorr
  0.77ADWA AMER SOFTWARE APairCorr
  0.77SDP Summit Hotel PropertiesPairCorr
  0.718HJ LANDSEA HOMES PPairCorr
  0.64ABL Abbott LaboratoriesPairCorr
  0.54R1V TRISTEL PLC LSPairCorr
  0.39WPY W P CareyPairCorr
  0.35RQQ OCEANAGOLDPairCorr
  0.33B8O Yangzijiang ShipbuildingPairCorr
  0.31DBPD Xtrackers ShortDAXPairCorr

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   
MUJ
+ 0.82
B7O
VMC
+ 0.49
UUEC
MUJ
+ 0.46
1NX
B7O
+ 0.4
1NX
COA1
+ 0.26
UUEC
COA1
+ 0.2
RCIB
  
High negative correlations   
COA1
- 0.62
B7O
MUJ
- 0.6
COA1
UUEC
- 0.39
RCIB
MUJ
- 0.38
RCIB
B7O
- 0.38
RCIB
VMC
- 0.32
RCIB

Risk-Adjusted Indicators

There is a big difference between THINKIFIC Stock performing well and THINKIFIC LABS 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 THINKIFIC LABS'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.

Be your own money manager

Our tools can tell you how much better you can do entering a position in THINKIFIC LABS 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?

Run Commodity Channel Now

   

Commodity Channel

Use Commodity Channel Index to analyze current equity momentum
All  Next Launch Module
Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions
 
Feedback Blog
Made with optimal in San Francisco
2024 Macroaxis LLC
COMMON DESTINATIONS
MAIN CATEGORIES
COMPANY