Nordicus Partners Correlations

NORD Stock

4.75 0.15 3.06%

The current 90-days correlation between Nordicus Partners and Perseus Mining Limited is 0.17 (i.e., Average diversification). The correlation of Nordicus Partners 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.

Nordicus Partners Correlation With Market

Good diversification

The correlation between Nordicus Partners and DJI is -0.18 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Nordicus Partners and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Nordicus OTC Stock

0.81	AAPL	Apple Inc	Pair Corr
0.74	GOOG	Alphabet Class C Aggressive Push	Pair Corr
0.67	AVGO	Broadcom	Pair Corr
0.89	BTU	Peabody Energy Corp	Pair Corr
0.73	WTBFA	WTB Financial	Pair Corr
0.85	IREN	IREN Earnings Call This Week	Pair Corr
0.79	MTSUY	Mitsubishi	Pair Corr
0.89	IRD	Opus Genetics,	Pair Corr
0.69	BMO	Bank of Montreal	Pair Corr
0.79	MTLS	Materialise NV	Pair Corr
0.83	M	Macys Inc	Pair Corr
0.79	RAPP	Rapport Therapeutics,	Pair Corr

Moving against Nordicus OTC Stock

0.65	PPERF	Bank Mandiri Persero	Pair Corr
0.63	BMYMP	Bristol Myers Squibb	Pair Corr
0.62	BKRKY	Bank Rakyat	Pair Corr
0.54	PPERY	Bank Mandiri Persero Normal Trading	Pair Corr
0.44	META	Meta Platforms	Pair Corr
0.39	PTBRY	Bank Negara Indonesia	Pair Corr
0.33	PBCRF	PT Bank Central	Pair Corr
0.8	TKCM	Token Communities	Pair Corr
0.43	EEGI	Eline Entertainment	Pair Corr
0.38	NTEI	Novatech Enterprises	Pair Corr

Related Correlations Analysis

	PMNXF	UNFI	BBDA	FHBC	ABVG	CLLFF	CTYMF	AHFD
PMNXF		0.73	0.0	0.0	0.0	0.44	0.15	0.0	PMNXF
UNFI	0.73		0.0	0.0	0.0	0.07	-0.07	0.0	UNFI
BBDA	0.0	0.0		1.0	0.0	0.0	0.0	1.0	BBDA
FHBC	0.0	0.0	1.0		0.0	0.0	0.0	1.0	FHBC
ABVG	0.0	0.0	0.0	0.0		0.0	0.0	0.0	ABVG
CLLFF	0.44	0.07	0.0	0.0	0.0		-0.16	0.0	CLLFF
CTYMF	0.15	-0.07	0.0	0.0	0.0	-0.16		0.0	CTYMF
AHFD	0.0	0.0	1.0	1.0	0.0	0.0	0.0		AHFD
	PMNXF	UNFI	BBDA	FHBC	ABVG	CLLFF	CTYMF	AHFD

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

FHBC	+ 1.0	BBDA
AHFD	+ 1.0	BBDA
AHFD	+ 1.0	FHBC
UNFI	+ 0.73	PMNXF
CLLFF	+ 0.44	PMNXF
CTYMF	+ 0.15	PMNXF

High negative correlations

CTYMF	- 0.16	CLLFF
CTYMF	- 0.07	UNFI
AHFD	- 0.0	CTYMF
AHFD	- 0.0	CLLFF
AHFD	- 0.0	ABVG
CTYMF	- 0.0	ABVG

Risk-Adjusted Indicators

There is a big difference between Nordicus OTC Stock performing well and Nordicus Partners 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 Nordicus Partners' 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
PMNXF	2.08	0.60	0.22	0.82	2.09	(2.51)	5.15	(4.27)	15.72
UNFI	2.00	0.38	0.16	0.34	2.10	(2.29)	4.40	(3.38)	27.61
BBDA	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
FHBC	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
ABVG	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
CLLFF	0.62	0.35	0.00	(0.30)	0.00	0.00	0.00	0.00	18.33
CTYMF	2.91	0.28	0.04	49.15	3.49	(5.09)	8.82	(7.37)	30.87
AHFD	0.00	0.00	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 Nordicus Partners 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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