Pexip Holding Correlations

PXPHF Stock

USD 6.52 0.00 0.00%

The correlation of Pexip Holding 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.

Pexip Holding Correlation With Market

Average diversification

The correlation between Pexip Holding ASA and DJI is 0.16 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Pexip Holding ASA and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Pexip Pink Sheet

0.84	APP	Applovin Corp	Pair Corr
0.64	NOW	ServiceNow	Pair Corr
0.69	SNOW	Snowflake	Pair Corr
0.71	GTLS	Chart Industries	Pair Corr
0.8	BMXC	Bemax Inc	Pair Corr
0.75	VLYPP	Valley National Bancorp	Pair Corr
0.65	CLSK	CleanSpark	Pair Corr
0.68	PLG	Platinum Group Metals	Pair Corr
0.61	LSRCY	Lasertec	Pair Corr
0.74	BK	Bank of New York	Pair Corr
0.75	FET	Forum Energy Technologies Earnings Call This Week	Pair Corr
0.74	BLNK	Blink Charging	Pair Corr
0.69	BHR-PD	Braemar Hotels Resorts	Pair Corr
0.85	CVI	CVR Energy	Pair Corr
0.74	IONQ	IONQ Inc	Pair Corr
0.77	DRDGF	Drdgold	Pair Corr
0.65	PATH	Uipath Inc	Pair Corr
0.61	INVX	Innovex International,	Pair Corr

Moving against Pexip Pink Sheet

0.72	PPERY	Bank Mandiri Persero	Pair Corr
0.6	SAP	SAP SE ADR	Pair Corr
0.6	SAPGF	SAP SE	Pair Corr
0.58	INTU	Intuit Inc	Pair Corr
0.58	PBCRY	Bank Central Asia	Pair Corr
0.36	BKRKY	Bank Rakyat	Pair Corr
0.33	PBCRF	PT Bank Central	Pair Corr
0.62	MPXOF	MPX International Corp	Pair Corr

Related Correlations Analysis

	CMDXF	IVUFF	MCAP	PTRRF	ABANF	LCHTF	SMTEF	BAINF	TYPMF	NNFTF
CMDXF		0.0	-0.45	0.0	-0.43	-0.24	-0.3	0.57	0.0	0.0	CMDXF
IVUFF	0.0		0.0	-1.0	0.0	0.0	0.0	0.0	1.0	0.0	IVUFF
MCAP	-0.45	0.0		0.0	0.4	0.16	0.3	-0.36	0.0	0.0	MCAP
PTRRF	0.0	-1.0	0.0		0.0	0.0	0.0	0.0	-1.0	0.0	PTRRF
ABANF	-0.43	0.0	0.4	0.0		0.2	0.6	-0.53	0.0	0.0	ABANF
LCHTF	-0.24	0.0	0.16	0.0	0.2		-0.3	-0.05	0.0	0.0	LCHTF
SMTEF	-0.3	0.0	0.3	0.0	0.6	-0.3		-0.44	0.0	0.0	SMTEF
BAINF	0.57	0.0	-0.36	0.0	-0.53	-0.05	-0.44		0.0	0.0	BAINF
TYPMF	0.0	1.0	0.0	-1.0	0.0	0.0	0.0	0.0		0.0	TYPMF
NNFTF	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0		NNFTF
	CMDXF	IVUFF	MCAP	PTRRF	ABANF	LCHTF	SMTEF	BAINF	TYPMF	NNFTF

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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

TYPMF	+ 1.0	IVUFF
SMTEF	+ 0.6	ABANF
BAINF	+ 0.57	CMDXF
ABANF	+ 0.4	MCAP
SMTEF	+ 0.3	MCAP
LCHTF	+ 0.2	ABANF

High negative correlations

TYPMF	- 1.0	PTRRF
PTRRF	- 1.0	IVUFF
BAINF	- 0.53	ABANF
MCAP	- 0.45	CMDXF
BAINF	- 0.44	SMTEF
ABANF	- 0.43	CMDXF

Risk-Adjusted Indicators

There is a big difference between Pexip Pink Sheet performing well and Pexip Holding 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 Pexip Holding'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	Treynor Ratio	Potential Upside	Value @Risk	Maximum Drawdown
CMDXF	1.46	(0.40)	(0.54)	2.43	(3.23)	11.60
IVUFF	0.00	0.00	0.00	0.00	0.00	0.00
MCAP	1.37	0.63	1.52	5.82	0.00	18.02
PTRRF	0.00	0.00	0.00	0.00	0.00	0.00
ABANF	0.12	0.03	(3.09)	0.00	0.00	3.87
LCHTF	0.19	(0.02)	(0.14)	0.00	0.00	6.08
SMTEF	0.63	0.28	(0.91)	0.00	0.00	12.01
BAINF	0.90	(0.19)	5.65	0.00	0.00	28.82
TYPMF	0.00	0.00	0.00	0.00	0.00	0.00
NNFTF	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 Pexip Holding 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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Pexip Holding Corporate Management

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