MDA Correlations

MDALF Stock

USD 29.04 0.65 2.29%

The current 90-days correlation between MDA and FuelCell Energy is 0.19 (i.e., Average diversification). The correlation of MDA 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.

MDA Correlation With Market

Poor diversification

The correlation between MDA and DJI is 0.79 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding MDA and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with MDA Pink Sheet

0.85	BA	Boeing	Pair Corr
0.94	LMT	Lockheed Martin	Pair Corr
0.95	NOC	Northrop Grumman	Pair Corr
0.7	GD	General Dynamics	Pair Corr
0.66	HWM	Howmet Aerospace	Pair Corr
0.83	TATT	Tat Techno	Pair Corr
0.87	CYD	China Yuchai Interna Earnings Call This Week	Pair Corr
0.61	BNEFF	Bonterra Energy Corp	Pair Corr
0.89	MTNOF	MTN Group Limited	Pair Corr
0.67	ZDZT	Zhengduozhe Technology	Pair Corr
0.83	TLOFF	Talon Metals Corp	Pair Corr
0.78	NTZ	Natuzzi SpA	Pair Corr
0.77	CAMZF	Camino Minerals	Pair Corr
0.81	NNBR	NN Inc	Pair Corr

Moving against MDA Pink Sheet

0.81	NTNX	Nutanix	Pair Corr
0.78	RLLCF	Rolls Royce Holdings Earnings Call This Week	Pair Corr
0.31	BAM	Brookfield Asset Man	Pair Corr
0.64	TOPCF	Topcon	Pair Corr
0.37	ONON	On Holding	Pair Corr

Related Correlations Analysis

	NRSAF	TNPOF	OBTEF	CNRD	FCEL	QEPC	AMROF	ILIKF
NRSAF		0.0	0.68	0.07	-0.28	-0.67	-0.52	0.5	NRSAF
TNPOF	0.0		0.0	0.0	0.0	0.0	0.0	0.0	TNPOF
OBTEF	0.68	0.0		0.0	-0.02	-0.72	-0.52	0.86	OBTEF
CNRD	0.07	0.0	0.0		0.4	-0.06	0.06	-0.11	CNRD
FCEL	-0.28	0.0	-0.02	0.4		0.06	0.25	-0.08	FCEL
QEPC	-0.67	0.0	-0.72	-0.06	0.06		0.57	-0.53	QEPC
AMROF	-0.52	0.0	-0.52	0.06	0.25	0.57		-0.52	AMROF
ILIKF	0.5	0.0	0.86	-0.11	-0.08	-0.53	-0.52		ILIKF
	NRSAF	TNPOF	OBTEF	CNRD	FCEL	QEPC	AMROF	ILIKF

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

ILIKF	+ 0.86	OBTEF
OBTEF	+ 0.68	NRSAF
AMROF	+ 0.57	QEPC
ILIKF	+ 0.5	NRSAF
FCEL	+ 0.4	CNRD
AMROF	+ 0.25	FCEL

High negative correlations

QEPC	- 0.72	OBTEF
QEPC	- 0.67	NRSAF
ILIKF	- 0.53	QEPC
ILIKF	- 0.52	AMROF
AMROF	- 0.52	OBTEF
AMROF	- 0.52	NRSAF

Risk-Adjusted Indicators

There is a big difference between MDA Pink Sheet performing well and MDA 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 MDA'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
NRSAF	2.21	0.17	0.02	0.26	2.66	(17.58)	4.55	(7.04)	36.87
TNPOF	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
OBTEF	6.01	(1.51)	0.00	(48.73)	0.00	0.00	0.00	(25.00)	165.47
CNRD	1.55	0.02	(0.02)	(0.61)	2.08	(1.91)	3.29	(4.19)	14.66
FCEL	4.57	0.17	0.04	0.16	5.68	(4.75)	11.76	(10.26)	35.51
QEPC	1.39	0.14	0.02	(0.33)	1.74	(2.08)	3.74	(4.70)	13.80
AMROF	7.03	0.85	0.08	0.72	7.09	(12.42)	18.75	(11.76)	63.81
ILIKF	2.72	(0.74)	0.00	(0.85)	0.00	0.00	6.52	(6.12)	16.86

Be your own money manager

Our tools can tell you how much better you can do entering a position in MDA 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?

Run Fundamental Analysis Now

Fundamental Analysis

View fundamental data based on most recent published financial statements

All Next

Launch Module

MDA Corporate Management

Minda Suchan	VP Geointelligence	Profile
Mike Pmp	CEO Director	Profile
Cameron Ower	Chief Officer	Profile
MBA CFA	Director Relations	Profile
Martin Herman	VP Counsel	Profile
Ian McLeod	VP Devel	Profile
Amy MacLeod	VP Communications	Profile

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2026 Macroaxis LLC