The correlation of THINKIFIC LABS is a statistical measure of how it moves in relation to other equities. 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 THINKIFIC LABS moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if THINKIFIC LABS INC 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.
Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in THINKIFIC LABS INC. Also, note that the market value of any Company could be tightly coupled with the direction of predictive economic indicators such as signals in board of governors.
The correlation between THINKIFIC LABS INC and NYA is 0.1 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding THINKIFIC LABS INC and NYA 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 together with THINKIFIC Stock
Moving against THINKIFIC Stock
Related Correlations Analysis
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Correlation MatchupsOver 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
Risk-Adjusted IndicatorsThere 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 managerOur 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.
Plot and analyze your portfolio and positions against risk-return landscape of the market.
Already Invested in THINKIFIC LABS INC?
The danger of trading THINKIFIC LABS INC 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 THINKIFIC LABS 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 THINKIFIC LABS. The Shape ratio is calculated by using standard deviation and excess return to determine reward per unit of risk. To understand how volatile THINKIFIC LABS INC 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 Trending Equities to better understand how to build diversified portfolios, which includes a position in THINKIFIC LABS INC. Also, note that the market value of any Company could be tightly coupled with the direction of predictive economic indicators such as signals in board of governors. You can also try the Instant Ratings module to determine any equity ratings based on digital recommendations. Macroaxis instant equity ratings are based on combination of fundamental analysis and risk-adjusted market performance.
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When running THINKIFIC LABS's price analysis, check to measure THINKIFIC LABS'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 THINKIFIC LABS is operating at the current time. Most of THINKIFIC LABS's value examination focuses on studying past and present price action to predict the probability of THINKIFIC LABS's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move THINKIFIC LABS's price. Additionally, you may evaluate how the addition of THINKIFIC LABS to your portfolios can decrease your overall portfolio volatility.
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