KWESST Micro Correlations
| KWE Stock | 0.74 0.02 2.78% |
The correlation of KWESST Micro 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 KWESST Micro moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if KWESST Micro Systems 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.
Weak diversification
The correlation between KWESST Micro Systems and NYA is 0.31 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding KWESST Micro Systems and NYA in the same portfolio, assuming nothing else is changed.
KWESST |
The ability to find closely correlated positions to KWESST Micro could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace KWESST Micro 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 KWESST Micro - 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 KWESST Micro Systems to buy it.
Moving together with KWESST Stock
| 0.7 | AZ | A2Z Smart Technologies | PairCorr |
| 0.79 | BA | Boeing Financial Report 24th of July 2024 | PairCorr |
| 0.84 | PL | Planet Labs PBC Financial Report 13th of June 2024 | PairCorr |
Moving against KWESST Stock
| 0.83 | GE | GE Aerospace Financial Report 23rd of July 2024 | PairCorr |
| 0.76 | GD | General Dynamics Financial Report 24th of July 2024 | PairCorr |
| 0.7 | DCO | Ducommun Incorporated | PairCorr |
| 0.66 | CW | Curtiss Wright | PairCorr |
| 0.58 | VTSI | VirTra Inc Financial Report 20th of May 2024 | PairCorr |
| 0.57 | EH | Ehang Holdings | PairCorr |
| 0.56 | ERJ | Embraer SA ADR | PairCorr |
| 0.54 | HEI | Heico Financial Report 27th of May 2024 | PairCorr |
| 0.48 | VSEC | VSE Corporation Financial Report 6th of May 2024 | 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 KWESST Stock performing well and KWESST Micro 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 KWESST Micro'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| PKE | 1.38 | (0.10) | 0.00 | (0.01) | 0.00 | 2.55 | 7.44 | |||
| CW | 0.71 | 0.23 | 0.26 | 0.39 | 0.44 | 1.86 | 4.29 | |||
| NPK | 1.00 | 0.06 | 0.03 | 0.15 | 1.19 | 2.37 | 5.79 | |||
| DCO | 1.42 | 0.10 | 0.08 | 0.13 | 1.59 | 2.48 | 18.67 | |||
| ATRO | 1.69 | (0.01) | 0.03 | 0.07 | 1.87 | 4.01 | 9.49 | |||
| CDRE | 1.22 | (0.07) | (0.02) | 0.02 | 2.41 | 3.06 | 13.34 | |||
| MRCY | 1.95 | (0.08) | (0.03) | 0.00 | 2.64 | 3.79 | 16.01 | |||
| HXL | 1.32 | (0.06) | 0.00 | 0.03 | 2.54 | 2.14 | 15.70 |
Be your own money manager
Our tools can tell you how much better you can do entering a position in KWESST Micro 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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The danger of trading KWESST Micro Systems 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 KWESST Micro 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 KWESST Micro. The Sharpe ratio is calculated by using standard deviation and excess return to determine reward per unit of risk. To understand how volatile KWESST Micro Systems 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.
When determining whether KWESST Micro Systems is a strong investment it is important to analyze KWESST Micro's competitive position within its industry, examining market share, product or service uniqueness, and competitive advantages. Beyond financials and market position, potential investors should also consider broader economic conditions, industry trends, and any regulatory or geopolitical factors that may impact KWESST Micro's future performance. For an informed investment choice regarding KWESST Stock, refer to the following important reports: Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in KWESST Micro Systems. Also, note that the market value of any company could be tightly coupled with the direction of predictive economic indicators such as signals in housing. You can also try the Companies Directory module to evaluate performance of over 100,000 Stocks, Funds, and ETFs against different fundamentals.
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When running KWESST Micro's price analysis, check to measure KWESST Micro'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 KWESST Micro is operating at the current time. Most of KWESST Micro's value examination focuses on studying past and present price action to predict the probability of KWESST Micro's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move KWESST Micro's price. Additionally, you may evaluate how the addition of KWESST Micro to your portfolios can decrease your overall portfolio volatility.
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Is KWESST Micro's industry expected to grow? Or is there an opportunity to expand the business' product line in the future? Factors like these will boost the valuation of KWESST Micro. If investors know KWESST will grow in the future, the company's valuation will be higher. The financial industry is built on trying to define current growth potential and future valuation accurately. All the valuation information about KWESST Micro listed above have to be considered, but the key to understanding future value is determining which factors weigh more heavily than others.
Earnings Share (0.71) | Revenue Per Share 0.206 | Quarterly Revenue Growth (0.59) | Return On Assets (0.59) | Return On Equity (1.29) |
The market value of KWESST Micro Systems is measured differently than its book value, which is the value of KWESST that is recorded on the company's balance sheet. Investors also form their own opinion of KWESST Micro's value that differs from its market value or its book value, called intrinsic value, which is KWESST Micro's true underlying value. Investors use various methods to calculate intrinsic value and buy a stock when its market value falls below its intrinsic value. Because KWESST Micro's market value can be influenced by many factors that don't directly affect KWESST Micro's underlying business (such as a pandemic or basic market pessimism), market value can vary widely from intrinsic value.
Please note, there is a significant difference between KWESST Micro's value and its price as these two are different measures arrived at by different means. Investors typically determine if KWESST Micro is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, KWESST Micro's price is the amount at which it trades on the open market and represents the number that a seller and buyer find agreeable to each party.