ESE Entertainment Correlations

ENTEF Stock

USD 0.05 0.01 10.53%

The current 90-days correlation between ESE Entertainment and OverActive Media Corp is 0.27 (i.e., Modest diversification). The correlation of ESE Entertainment 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.

ESE Entertainment Correlation With Market

Significant diversification

The correlation between ESE Entertainment and DJI is 0.09 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding ESE Entertainment and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with ESE OTC Stock

0.76	LYV	Live Nation Entertainment Sell-off Trend	Pair Corr
0.63	PTBRY	Bank Negara Indonesia	Pair Corr
0.62	FORD	Forward Industries	Pair Corr
0.8	SVRA	Savara Inc	Pair Corr
0.77	IPA	IPA Old Symbol Change	Pair Corr
0.7	DBSDF	DBS Group Holdings	Pair Corr
0.68	PEP	PepsiCo	Pair Corr
0.73	DECK	Deckers Outdoor Sell-off Trend	Pair Corr
0.73	PTA	Cohen Steers Tax	Pair Corr
0.78	ABBV	AbbVie Inc	Pair Corr
0.81	AUXXF	Allegiant Gold	Pair Corr
0.79	SIELY	Shanghai Electric	Pair Corr

Moving against ESE OTC Stock

0.69	UMGNF	Universal Music Group	Pair Corr
0.67	UNVGY	Universal Music Group	Pair Corr
0.67	PBCRY	Bank Central Asia	Pair Corr
0.58	DIS	Walt Disney	Pair Corr
0.55	PPERF	Bank Mandiri Persero	Pair Corr
0.55	BKRKF	PT Bank Rakyat	Pair Corr
0.51	PPERY	Bank Mandiri Persero	Pair Corr
0.35	PBCRF	PT Bank Central	Pair Corr
0.31	FWONK	Liberty Media	Pair Corr
0.35	ENPH	Enphase Energy	Pair Corr

Related Correlations Analysis

	GULDF	TRMNF	OAMCF	NETWF	FUNFF	VSQTF	PKKFF	OGGFF	GRNBF
GULDF		0.31	-0.06	-0.31	-0.08	0.84	0.73	0.0	-0.02	GULDF
TRMNF	0.31		0.6	0.16	-0.02	0.67	0.46	0.0	0.2	TRMNF
OAMCF	-0.06	0.6		-0.05	0.03	0.39	0.21	0.0	0.19	OAMCF
NETWF	-0.31	0.16	-0.05		-0.07	-0.21	-0.34	0.0	0.48	NETWF
FUNFF	-0.08	-0.02	0.03	-0.07		-0.12	-0.13	0.0	0.04	FUNFF
VSQTF	0.84	0.67	0.39	-0.21	-0.12		0.78	0.0	0.07	VSQTF
PKKFF	0.73	0.46	0.21	-0.34	-0.13	0.78		0.0	-0.1	PKKFF
OGGFF	0.0	0.0	0.0	0.0	0.0	0.0	0.0		0.0	OGGFF
GRNBF	-0.02	0.2	0.19	0.48	0.04	0.07	-0.1	0.0		GRNBF
	GULDF	TRMNF	OAMCF	NETWF	FUNFF	VSQTF	PKKFF	OGGFF	GRNBF

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

VSQTF	+ 0.84	GULDF
PKKFF	+ 0.78	VSQTF
PKKFF	+ 0.73	GULDF
VSQTF	+ 0.67	TRMNF
OAMCF	+ 0.6	TRMNF
GRNBF	+ 0.48	NETWF

High negative correlations

PKKFF	- 0.34	NETWF
NETWF	- 0.31	GULDF
VSQTF	- 0.21	NETWF
PKKFF	- 0.13	FUNFF
VSQTF	- 0.12	FUNFF
GRNBF	- 0.1	PKKFF

Risk-Adjusted Indicators

There is a big difference between ESE OTC Stock performing well and ESE Entertainment 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 ESE Entertainment'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
GULDF	12.19	4.23	0.15	3.11	11.04	(35.31)	42.86	(14.00)	132.75
TRMNF	2.37	0.81	0.11	134.96	2.01	(6.83)	8.33	(4.35)	22.25
OAMCF	4.46	0.65	0.07	(1.16)	4.03	(9.26)	16.00	(8.33)	34.52
NETWF	0.84	0.19	0.00	(0.49)	0.00	0.00	1.60	0.00	29.09
FUNFF	125.82	60.35	1.09	1.20	44.60	(215.78)	366.67	(85.00)	1,479
VSQTF	5.96	2.55	0.36	3.02	4.40	(8.93)	17.86	(9.23)	42.56
PKKFF	18.12	3.14	0.16	0.82	19.91	(21.03)	40.35	(31.03)	109.40
OGGFF	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
GRNBF	9.89	1.78	0.06	(1.55)	10.56	(37.95)	38.89	(25.41)	137.29

Be your own money manager

Our tools can tell you how much better you can do entering a position in ESE Entertainment 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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