SmartKem, Common Correlations

SMTK Stock

USD 6.89 1.44 26.42%

The current 90-days correlation between SmartKem, Common Stock and Atomera is 0.1 (i.e., Average diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as SmartKem, Common moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if SmartKem, Common Stock moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

SmartKem, Common Correlation With Market

Good diversification

The correlation between SmartKem, Common Stock 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 SmartKem, Common Stock and DJI in the same portfolio, assuming nothing else is changed.

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

Moving against SmartKem, OTC Stock

0.66	AIIXY	Aixtron SE ADR	Pair Corr
0.54	WGNR	Wegener	Pair Corr
0.52	ASMIY	ASM International	Pair Corr
0.5	WELX	Winland Holdings	Pair Corr
0.45	CETXP	Cemtrex Pref	Pair Corr
0.41	DIDIY	Didi Global ADR	Pair Corr
0.37	WEBB	Web Global Holdings	Pair Corr
0.31	DYSL	Dynasil Of	Pair Corr
0.5	HAUP	Hauppauge Digital OTC	Pair Corr
0.47	FUJIY	FUJIFILM Holdings Corp	Pair Corr
0.41	JTKWY	Just Eat Takeaway	Pair Corr
0.4	LIF	Life360, Common Stock	Pair Corr
0.39	WSTL	Westell Technologies	Pair Corr
0.31	ZIPL	ZipLink	Pair Corr

Related Correlations Analysis

	ATOM	AEHR	INDI	KLAC	VECO	ASMVY	SUOPY	AXTI	ASYS	ACLS
ATOM		-0.11	0.91	0.57	0.94	0.78	0.83	0.9	0.08	0.92	ATOM
AEHR	-0.11		0.01	-0.15	-0.25	-0.05	0.27	0.04	-0.23	-0.11	AEHR
INDI	0.91	0.01		0.34	0.8	0.64	0.87	0.89	-0.11	0.76	INDI
KLAC	0.57	-0.15	0.34		0.75	0.62	0.34	0.56	0.57	0.76	KLAC
VECO	0.94	-0.25	0.8	0.75		0.76	0.74	0.88	0.19	0.97	VECO
ASMVY	0.78	-0.05	0.64	0.62	0.76		0.59	0.71	0.33	0.81	ASMVY
SUOPY	0.83	0.27	0.87	0.34	0.74	0.59		0.87	-0.16	0.74	SUOPY
AXTI	0.9	0.04	0.89	0.56	0.88	0.71	0.87		0.08	0.85	AXTI
ASYS	0.08	-0.23	-0.11	0.57	0.19	0.33	-0.16	0.08		0.19	ASYS
ACLS	0.92	-0.11	0.76	0.76	0.97	0.81	0.74	0.85	0.19		ACLS
	ATOM	AEHR	INDI	KLAC	VECO	ASMVY	SUOPY	AXTI	ASYS	ACLS

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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

ACLS	+ 0.97	VECO
VECO	+ 0.94	ATOM
ACLS	+ 0.92	ATOM
INDI	+ 0.91	ATOM
AXTI	+ 0.9	ATOM
AXTI	+ 0.89	INDI

High negative correlations

VECO	- 0.25	AEHR
ASYS	- 0.23	AEHR
ASYS	- 0.16	SUOPY
KLAC	- 0.15	AEHR
ASYS	- 0.11	INDI
ACLS	- 0.11	AEHR

Risk-Adjusted Indicators

There is a big difference between SmartKem, OTC Stock performing well and SmartKem, Common OTC Stock 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 SmartKem, Common'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
ATOM	3.19	(0.72)	0.00	(0.19)	0.00	0.00	6.34	(7.38)	24.05
AEHR	4.77	0.28	0.07	0.14	5.88	(5.12)	12.24	(11.18)	37.06
INDI	3.12	(1.24)	0.00	(0.39)	0.00	0.00	4.03	(8.49)	21.06
KLAC	2.54	(0.16)	0.00	(0.02)	0.00	0.00	5.52	(7.93)	17.98
VECO	2.62	(0.53)	0.00	(0.19)	0.00	0.00	6.82	(6.34)	18.61
ASMVY	2.30	(0.20)	0.00	(0.07)	0.00	0.00	4.38	(5.57)	29.30
SUOPY	2.56	(0.62)	0.00	(0.37)	0.00	0.00	5.04	(7.34)	22.02
AXTI	3.69	(0.65)	0.00	(0.11)	0.00	0.00	7.33	(7.55)	28.08
ASYS	2.85	0.05	0.01	0.15	3.00	(3.58)	7.82	(4.72)	22.26
ACLS	3.08	(0.24)	0.00	(0.06)	0.00	0.00	6.99	(7.58)	24.94

Be your own money manager

Our tools can tell you how much better you can do entering a position in SmartKem, Common 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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