Alphawave Correlations

AWEVF Stock

USD 1.15 0.03 2.68%

The correlation of Alphawave 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.

Alphawave Correlation With Market

Significant diversification

The correlation between Alphawave IP Group and DJI is 0.03 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Alphawave IP Group and DJI in the same portfolio, assuming nothing else is changed.

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

Moving against Alphawave Pink Sheet

0.62	AVGO	Broadcom Aggressive Push	Pair Corr
0.64	TEVA	Teva Pharma Industries	Pair Corr
0.64	INVZ	Innoviz Technologies	Pair Corr
0.35	FRCOF	Fast Retailing	Pair Corr
0.35	WBA	Walgreens Boots Alliance Earnings Call This Week	Pair Corr

Related Correlations Analysis

	ALMU	ARRXF	BRCHF	AIP	AUKUF	GUER	ODII	CYBL	RNECY
ALMU		0.66	0.2	0.75	-0.24	-0.27	0.33	-0.24	-0.44	ALMU
ARRXF	0.66		0.39	0.63	-0.42	-0.41	0.22	-0.23	-0.44	ARRXF
BRCHF	0.2	0.39		0.11	0.04	0.06	-0.23	0.16	-0.02	BRCHF
AIP	0.75	0.63	0.11		-0.41	-0.65	0.49	-0.3	-0.54	AIP
AUKUF	-0.24	-0.42	0.04	-0.41		0.43	-0.2	0.03	0.31	AUKUF
GUER	-0.27	-0.41	0.06	-0.65	0.43		-0.49	0.11	0.66	GUER
ODII	0.33	0.22	-0.23	0.49	-0.2	-0.49		0.13	-0.58	ODII
CYBL	-0.24	-0.23	0.16	-0.3	0.03	0.11	0.13		-0.29	CYBL
RNECY	-0.44	-0.44	-0.02	-0.54	0.31	0.66	-0.58	-0.29		RNECY
	ALMU	ARRXF	BRCHF	AIP	AUKUF	GUER	ODII	CYBL	RNECY

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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

AIP	+ 0.75	ALMU
ARRXF	+ 0.66	ALMU
RNECY	+ 0.66	GUER
AIP	+ 0.63	ARRXF
ODII	+ 0.49	AIP
GUER	+ 0.43	AUKUF

High negative correlations

GUER	- 0.65	AIP
RNECY	- 0.58	ODII
RNECY	- 0.54	AIP
ODII	- 0.49	GUER
RNECY	- 0.44	ARRXF
RNECY	- 0.44	ALMU

Risk-Adjusted Indicators

There is a big difference between Alphawave Pink Sheet performing well and Alphawave 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 Alphawave'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
ALMU	7.12	2.11	0.21	(0.78)	6.86	(9.14)	20.85	(10.69)	79.86
ARRXF	6.45	1.53	0.12	(17.48)	6.45	(12.75)	22.22	(16.67)	43.33
BRCHF	7.45	1.35	0.14	(4.34)	7.09	(10.13)	14.29	(11.76)	54.39
AIP	2.79	0.55	0.18	1.14	2.69	(3.27)	5.92	(4.18)	25.32
AUKUF	33.62	15.26	0.00	(1.69)	0.00	0.00	0.00	(7.45)	1,157
GUER	6.23	(0.31)	0.00	0.17	0.00	0.00	14.29	(13.69)	54.44
ODII	5.05	1.60	0.00	(0.53)	0.00	0.00	16.67	(2.34)	154.95
CYBL	14.93	5.24	0.61	2.20	7.01	(24.79)	22.81	(17.31)	390.00
RNECY	1.69	(0.13)	0.00	0.44	0.00	0.00	3.43	(3.65)	10.34

Be your own money manager

Our tools can tell you how much better you can do entering a position in Alphawave 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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Alphawave Corporate Management

Tony Pialis	CEO Pres	Profile
Rajeevan Mahadevan	VP COO	Profile
Sehat Sutardja	Ex Director	Profile
Tony Carusone	Chief Officer	Profile
Jonathan Rogers	VP Engineering	Profile
John Holt	Ex Chairman	Profile
Daniel Aharoni	Chief Officer	Profile

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