NeuPath Health Correlations

NPTH Stock

CAD 0.48 0.01 2.04%

The current 90-days correlation between NeuPath Health and Wilmington Capital Management is 0.01 (i.e., Significant diversification). The correlation of NeuPath Health 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. If the correlation is 0, the equities are not correlated; they are entirely random.

NeuPath Health Correlation With Market

Average diversification

The correlation between NeuPath Health and DJI is 0.1 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding NeuPath Health and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with NeuPath Stock

0.75	MAXQ	Maritime Launch Services	Pair Corr
0.84	AX-UN	Artis Real Estate	Pair Corr
0.88	GMG	Graphene Manufacturing	Pair Corr
0.81	WTE	Westshore Terminals	Pair Corr
0.61	VAU	Viva Gold Corp	Pair Corr
0.76	GS	GOLDMAN SACHS CDR	Pair Corr
0.66	CGG	China Gold International	Pair Corr
0.81	PD	Precision Drilling	Pair Corr
0.87	FFN	North American Financial	Pair Corr
0.89	AVR	Avaron Mining Corp	Pair Corr
0.77	CGNT	Copper Giant Resources	Pair Corr
0.89	SAP	Saputo Inc	Pair Corr
0.83	GRID	Tantalus Systems Holding	Pair Corr
0.71	BNE	Bonterra Energy Corp	Pair Corr
0.79	EOG	Eco Atlantic Oil	Pair Corr
0.76	PNTR	Pantera Silver Corp	Pair Corr
0.86	POW	Power	Pair Corr
0.92	TD	Toronto Dominion Bank	Pair Corr
0.73	SEA	Seabridge Gold	Pair Corr
0.81	HAI	Haivision Systems	Pair Corr
0.92	IGM	IGM Financial	Pair Corr

Moving against NeuPath Stock

0.62	DELX	DelphX Capital Markets	Pair Corr
0.43	DIAM	Star Diamond Corp	Pair Corr

Related Correlations Analysis

	OGO	DCM	WCM-A	CNJ-P	WTE	TSL	UPT-P	AI
OGO		0.85	-0.58	0.0	0.55	0.49	0.0	0.47	OGO
DCM	0.85		-0.64	0.0	0.8	0.71	0.0	0.55	DCM
WCM-A	-0.58	-0.64		0.0	-0.58	-0.48	0.0	-0.39	WCM-A
CNJ-P	0.0	0.0	0.0		0.0	0.0	1.0	0.0	CNJ-P
WTE	0.55	0.8	-0.58	0.0		0.83	0.0	0.56	WTE
TSL	0.49	0.71	-0.48	0.0	0.83		0.0	0.45	TSL
UPT-P	0.0	0.0	0.0	1.0	0.0	0.0		0.0	UPT-P
AI	0.47	0.55	-0.39	0.0	0.56	0.45	0.0		AI
	OGO	DCM	WCM-A	CNJ-P	WTE	TSL	UPT-P	AI

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

UPT-P	+ 1.0	CNJ-P
DCM	+ 0.85	OGO
TSL	+ 0.83	WTE
WTE	+ 0.8	DCM
TSL	+ 0.71	DCM
AI	+ 0.56	WTE

High negative correlations

WCM-A	- 0.64	DCM
WTE	- 0.58	WCM-A
WCM-A	- 0.58	OGO
TSL	- 0.48	WCM-A
AI	- 0.39	WCM-A
AI	- 0.0	UPT-P

Risk-Adjusted Indicators

There is a big difference between NeuPath Stock performing well and NeuPath Health 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 NeuPath Health'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
OGO	1.79	0.08	0.01	1.48	1.98	(2.78)	4.48	(3.28)	11.86
DCM	1.99	0.28	0.08	0.86	2.01	(2.74)	5.47	(3.66)	12.40
WCM-A	0.46	(0.07)	0.00	(0.20)	0.00	0.00	0.40	(0.40)	11.60
CNJ-P	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
WTE	0.79	0.08	0.01	0.50	1.17	(0.73)	1.59	(2.10)	4.85
TSL	1.03	0.15	0.06	0.57	1.33	(1.36)	2.61	(2.55)	8.63
UPT-P	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
AI	0.45	0.00	(0.08)	0.08	0.58	(0.49)	0.99	(1.04)	2.65

Be your own money manager

Our tools can tell you how much better you can do entering a position in NeuPath Health 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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