Tap Resources Correlations

TAPP Stock

USD 0.03 0.00 0.00%

The current 90-days correlation between Tap Resources and Digerati Technologies is 0.06 (i.e., Significant diversification). The correlation of Tap Resources 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.

Tap Resources Correlation With Market

Very good diversification

The correlation between Tap Resources and DJI is -0.47 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Tap Resources and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Tap Pink Sheet

0.77	MSFT	Microsoft Earnings Call Tomorrow	Pair Corr
0.7	META	Meta Platforms Earnings Call Tomorrow	Pair Corr
0.68	ZTLLF	Zonetail	Pair Corr
0.7	NSFDF	NXT Energy Solutions	Pair Corr
0.74	HPQ	HP Inc	Pair Corr

Moving against Tap Pink Sheet

0.84	DD	Dupont De Nemours	Pair Corr
0.76	GOOG	Alphabet Class C	Pair Corr
0.74	BMYMP	Bristol Myers Squibb	Pair Corr
0.63	JNJ	Johnson Johnson	Pair Corr
0.61	CAT	Caterpillar Earnings Call This Week	Pair Corr
0.59	CSCO	Cisco Systems Aggressive Push	Pair Corr
0.58	PFE	Pfizer Inc Earnings Call This Week	Pair Corr
0.57	TRV	The Travelers Companies	Pair Corr
0.53	AA	Alcoa Corp Downward Rally	Pair Corr
0.45	VZ	Verizon Communications Earnings Call This Week	Pair Corr
0.39	AXP	American Express Earnings Call This Week	Pair Corr
0.36	AMZN	Amazon Inc	Pair Corr

Related Correlations Analysis

	HQGE	DTGI	GIFX	RDAR	BLIBQ	MMDDF	AATV	YOOIF	CPROF	CRTD
HQGE		-0.05	-0.13	-0.13	-0.03	0.05	-0.2	0.02	0.0	0.2	HQGE
DTGI	-0.05		-0.15	-0.05	-0.06	-0.23	-0.14	-0.13	0.0	-0.3	DTGI
GIFX	-0.13	-0.15		0.6	0.91	-0.31	-0.42	0.69	0.0	-0.62	GIFX
RDAR	-0.13	-0.05	0.6		0.56	-0.31	-0.21	0.49	0.0	-0.55	RDAR
BLIBQ	-0.03	-0.06	0.91	0.56		-0.38	-0.53	0.77	0.0	-0.62	BLIBQ
MMDDF	0.05	-0.23	-0.31	-0.31	-0.38		0.09	-0.27	0.0	0.52	MMDDF
AATV	-0.2	-0.14	-0.42	-0.21	-0.53	0.09		-0.5	0.0	0.27	AATV
YOOIF	0.02	-0.13	0.69	0.49	0.77	-0.27	-0.5		0.0	-0.47	YOOIF
CPROF	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0		0.0	CPROF
CRTD	0.2	-0.3	-0.62	-0.55	-0.62	0.52	0.27	-0.47	0.0		CRTD
	HQGE	DTGI	GIFX	RDAR	BLIBQ	MMDDF	AATV	YOOIF	CPROF	CRTD

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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

BLIBQ	+ 0.91	GIFX
YOOIF	+ 0.77	BLIBQ
YOOIF	+ 0.69	GIFX
RDAR	+ 0.6	GIFX
BLIBQ	+ 0.56	RDAR
CRTD	+ 0.52	MMDDF

High negative correlations

CRTD	- 0.62	BLIBQ
CRTD	- 0.62	GIFX
CRTD	- 0.55	RDAR
AATV	- 0.53	BLIBQ
YOOIF	- 0.5	AATV
CRTD	- 0.47	YOOIF

Risk-Adjusted Indicators

There is a big difference between Tap Pink Sheet performing well and Tap Resources 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 Tap Resources' 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
HQGE	16.29	5.91	0.16	(0.93)	11.62	(72.71)	75.00	(25.00)	216.67
DTGI	7.98	0.56	0.04	(0.66)	9.37	(9.93)	19.57	(17.88)	90.38
GIFX	3.50	(0.65)	0.00	(0.46)	0.00	0.00	10.23	(15.14)	58.73
RDAR	9.91	0.44	0.02	0.19	11.64	(37.04)	33.33	(25.00)	83.33
BLIBQ	2.95	(1.50)	0.00	25.31	0.00	0.00	0.00	0.00	98.75
MMDDF	20.56	7.28	0.00	(4.44)	0.00	0.00	0.00	(33.33)	321.43
AATV	5.54	1.04	0.05	0.80	6.36	(27.27)	20.00	(17.78)	120.83
YOOIF	6.54	2.03	0.00	5.18	0.00	0.00	0.00	0.00	200.00
CPROF	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
CRTD	8.31	1.88	0.16	2.04	8.47	(12.91)	26.67	(11.54)	117.39

Be your own money manager

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