Sharp Correlations

SHCAF Stock

USD 5.00 0.00 0.00%

The current 90-days correlation between Sharp and Canon Inc is 0.04 (i.e., Significant diversification). The correlation of Sharp 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.

Sharp Correlation With Market

Average diversification

The correlation between Sharp 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 Sharp and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Sharp Pink Sheet

0.85

HCTI

Healthcare Triangle

Pair Corr

Moving against Sharp Pink Sheet

0.9	KB	KB Financial Group	Pair Corr
0.89	SHG	Shinhan Financial	Pair Corr
0.83	WF	Woori Financial Group	Pair Corr
0.72	XIACY	Xiaomi Corp ADR	Pair Corr
0.71	XIACF	Xiaomi Corp	Pair Corr
0.42	SNEJF	Sony Corp	Pair Corr
0.42	BKRKF	PT Bank Rakyat Earnings Call This Week	Pair Corr
0.31	PBCRF	PT Bank Central	Pair Corr
0.91	JG	Aurora Mobile	Pair Corr
0.9	GRP-UN	Granite Real Estate	Pair Corr
0.87	UNCFF	UniCredit SpA Earnings Call This Week	Pair Corr
0.86	NNE	Nano Nuclear Energy Buyout Trend	Pair Corr
0.85	SASOF	Sasol Limited	Pair Corr
0.79	IBM	International Business	Pair Corr
0.74	LSDAF	Lassonde Industries	Pair Corr
0.72	VWSYF	Vestas Wind Systems	Pair Corr
0.66	SWDBY	Swedbank AB Normal Trading	Pair Corr
0.53	JLL	Jones Lang LaSalle	Pair Corr
0.41	FISI	Financial Institutions	Pair Corr
0.9	SMNEY	Siemens Energy AG	Pair Corr
0.89	MQ	Marqeta	Pair Corr
0.83	MSFT	Microsoft Earnings Call This Week	Pair Corr
0.8	FCX	Freeport McMoran Copper	Pair Corr
0.74	B	Barrick Mining Symbol Change	Pair Corr
0.73	CELH	Celsius Holdings	Pair Corr

Related Correlations Analysis

	AAPL	CAJFF	CSIOY	SEKEY	SHCAY	SNEJF	SSNLF	SUOPY	TCLHF
AAPL		-0.27	0.38	0.19	-0.17	-0.17	0.0	0.58	0.06	AAPL
CAJFF	-0.27		-0.72	0.31	0.48	0.09	0.0	-0.61	-0.03	CAJFF
CSIOY	0.38	-0.72		-0.01	-0.27	-0.28	0.0	0.6	-0.07	CSIOY
SEKEY	0.19	0.31	-0.01		0.76	-0.28	0.0	-0.31	-0.34	SEKEY
SHCAY	-0.17	0.48	-0.27	0.76		-0.33	0.0	-0.7	-0.43	SHCAY
SNEJF	-0.17	0.09	-0.28	-0.28	-0.33		0.0	0.02	0.17	SNEJF
SSNLF	0.0	0.0	0.0	0.0	0.0	0.0		0.0	0.0	SSNLF
SUOPY	0.58	-0.61	0.6	-0.31	-0.7	0.02	0.0		0.16	SUOPY
TCLHF	0.06	-0.03	-0.07	-0.34	-0.43	0.17	0.0	0.16		TCLHF
	AAPL	CAJFF	CSIOY	SEKEY	SHCAY	SNEJF	SSNLF	SUOPY	TCLHF

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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

SHCAY	+ 0.76	SEKEY
SUOPY	+ 0.6	CSIOY
SUOPY	+ 0.58	AAPL
SHCAY	+ 0.48	CAJFF
CSIOY	+ 0.38	AAPL
SEKEY	+ 0.31	CAJFF

High negative correlations

CSIOY	- 0.72	CAJFF
SUOPY	- 0.7	SHCAY
SUOPY	- 0.61	CAJFF
TCLHF	- 0.43	SHCAY
TCLHF	- 0.34	SEKEY
SNEJF	- 0.33	SHCAY

Risk-Adjusted Indicators

There is a big difference between Sharp Pink Sheet performing well and Sharp 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 Sharp'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
AAPL	1.03	(0.08)	(0.05)	0.15	1.32	(1.05)	2.43	(2.31)	9.34
CAJFF	1.78	(0.07)	0.00	(3.55)	0.00	0.00	5.26	(5.84)	23.59
CSIOY	1.73	0.11	(0.06)	(0.52)	2.26	(1.82)	3.83	(4.14)	9.43
SEKEY	1.31	0.07	(0.11)	0.00	1.88	(1.36)	2.64	(3.65)	8.08
SHCAY	1.81	(0.32)	0.00	3.48	0.00	0.00	4.13	(4.58)	11.26
SNEJF	3.19	0.05	0.01	0.28	3.85	(3.29)	6.41	(6.48)	17.12
SSNLF	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
SUOPY	1.95	0.41	0.10	1.25	1.62	(3.27)	8.19	(3.22)	13.45
TCLHF	13.70	2.35	0.11	2.09	13.29	(23.94)	35.79	(29.17)	74.76

Be your own money manager

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