Branded Legacy Correlations
| BLEG Stock | USD 0.0004 0.0001 33.33% |
The correlation of Branded Legacy 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.
Branded Legacy Correlation With Market
Average diversification
The correlation between Branded Legacy and DJI is 0.11 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Branded Legacy and DJI in the same portfolio, assuming nothing else is changed.
Branded |
The ability to find closely correlated positions to Branded Legacy could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Branded Legacy 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 Branded Legacy - 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 Branded Legacy to buy it.
Moving together with Branded Pink Sheet
| 0.67 | KHC | Kraft Heinz Aggressive Push | PairCorr |
| 0.66 | CIADY | China Mengniu Dairy | PairCorr |
| 0.69 | MPXOF | MPX International Corp | PairCorr |
Moving against Branded Pink Sheet
| 0.7 | GLW | Corning Incorporated | PairCorr |
| 0.67 | CIADF | China Mengniu Dairy | PairCorr |
| 0.62 | DANOY | Danone PK | PairCorr |
| 0.62 | GRBMF | Grupo Bimbo SAB | PairCorr |
| 0.61 | TSLA | Tesla Inc | PairCorr |
| 0.59 | FET | Forum Energy Technologies Earnings Call This Week | PairCorr |
| 0.58 | GPDNF | Danone SA | PairCorr |
| 0.58 | NDEKY | Nitto Denko Corp | PairCorr |
| 0.56 | SSLLF | Siltronic AG | PairCorr |
| 0.52 | VLYPP | Valley National Bancorp | PairCorr |
| 0.5 | FUWAF | Furukawa Electric | PairCorr |
| 0.5 | GS | Goldman Sachs Group | PairCorr |
| 0.48 | NSRGF | Nestle SA | PairCorr |
| 0.47 | K | Kellanova | PairCorr |
| 0.47 | BMBOY | Grupo Bimbo SAB | PairCorr |
| 0.42 | DAIUF | Daifuku | PairCorr |
| 0.39 | GTLS | Chart Industries | PairCorr |
| 0.69 | BHR-PD | Braemar Hotels Resorts | PairCorr |
| 0.61 | BLFS | BioLife Solutions | PairCorr |
| 0.6 | CVI | CVR Energy | PairCorr |
| 0.6 | UEC | Uranium Energy Corp | PairCorr |
| 0.59 | EUUNF | Azarga Metals Corp | PairCorr |
| 0.57 | DRDGF | Drdgold | PairCorr |
| 0.57 | BMXC | Bemax Inc | PairCorr |
| 0.56 | ATCD | Altair Corp | PairCorr |
| 0.55 | PATH | Uipath Inc | PairCorr |
| 0.51 | BK | Bank of New York | PairCorr |
| 0.5 | CLSK | CleanSpark | PairCorr |
| 0.5 | BLNK | Blink Charging | PairCorr |
| 0.46 | LSRCY | Lasertec | PairCorr |
Related Correlations Analysis
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 Branded Pink Sheet performing well and Branded Legacy 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 Branded Legacy'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| DZGH | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
| VGGIF | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
| MTTCF | 1.19 | 0.39 | 0.00 | (0.52) | 0.00 | 0.00 | 36.67 | |||
| NUVM | 7.15 | 3.54 | 0.00 | (1.27) | 0.00 | 2.86 | 233.33 | |||
| BLLB | 9.05 | 0.99 | 0.04 | (0.22) | 9.93 | 16.67 | 103.57 | |||
| AMNC | 1.81 | (0.94) | 0.00 | 552.97 | 0.00 | 0.00 | 43.00 | |||
| ALKM | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
| ARRT | 14.74 | 8.08 | 0.00 | (0.62) | 0.00 | 25.00 | 388.31 | |||
| AQPW | 1.49 | (0.73) | 0.00 | 1.41 | 0.00 | 0.00 | 50.00 | |||
| HVCW | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Be your own money manager
Our tools can tell you how much better you can do entering a position in Branded Legacy 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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