BrainsWay Correlations

BRSYF Stock

USD 3.15 0.00 0.00%

The current 90-days correlation between BrainsWay and Brainsway is -0.05 (i.e., Good diversification). The correlation of BrainsWay 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.

BrainsWay Correlation With Market

Good diversification

The correlation between BrainsWay and DJI is -0.01 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding BrainsWay and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with BrainsWay Pink Sheet

0.65	BSX	Boston Scientific Corp Sell-off Trend	Pair Corr
0.8	GARPF	Golden Agri Resources	Pair Corr
0.82	CIADY	China Mengniu Dairy	Pair Corr
0.73	FDS	FactSet Research Systems	Pair Corr
0.81	INTC	Intel Fiscal Year End 23rd of January 2025	Pair Corr
0.65	CVX	Chevron Corp Sell-off Trend	Pair Corr
0.69	AXP	American Express Fiscal Year End 24th of January 2025	Pair Corr
0.9	CAT	Caterpillar Fiscal Year End 3rd of February 2025	Pair Corr
0.7	XOM	Exxon Mobil Corp Fiscal Year End 7th of February 2025	Pair Corr
0.73	HPQ	HP Inc	Pair Corr
0.78	CSCO	Cisco Systems Sell-off Trend	Pair Corr
0.83	HD	Home Depot	Pair Corr

Moving against BrainsWay Pink Sheet

0.52	SEMHF	Siemens Healthineers	Pair Corr
0.65	BA	Boeing Fiscal Year End 29th of January 2025	Pair Corr
0.64	JNJ	Johnson Johnson Sell-off Trend	Pair Corr
0.52	KO	Coca Cola Aggressive Push	Pair Corr
0.38	PFE	Pfizer Inc Aggressive Push	Pair Corr

Related Correlations Analysis

	BWAY	BJDX	VAPO	VERO	ICCM	OSA	SRDX	SSKN	RPID	OWLT
BWAY		-0.78	-0.27	-0.62	0.25	0.05	-0.56	-0.33	0.71	0.69	BWAY
BJDX	-0.78		0.49	0.71	-0.27	-0.2	0.33	0.26	-0.71	-0.47	BJDX
VAPO	-0.27	0.49		0.6	-0.51	-0.26	-0.08	-0.33	-0.73	-0.35	VAPO
VERO	-0.62	0.71	0.6		-0.25	-0.21	0.22	0.05	-0.65	-0.42	VERO
ICCM	0.25	-0.27	-0.51	-0.25		0.41	-0.09	0.19	0.43	0.32	ICCM
OSA	0.05	-0.2	-0.26	-0.21	0.41		0.28	0.11	0.07	0.05	OSA
SRDX	-0.56	0.33	-0.08	0.22	-0.09	0.28		0.27	-0.32	-0.61	SRDX
SSKN	-0.33	0.26	-0.33	0.05	0.19	0.11	0.27		0.09	0.14	SSKN
RPID	0.71	-0.71	-0.73	-0.65	0.43	0.07	-0.32	0.09		0.63	RPID
OWLT	0.69	-0.47	-0.35	-0.42	0.32	0.05	-0.61	0.14	0.63		OWLT
	BWAY	BJDX	VAPO	VERO	ICCM	OSA	SRDX	SSKN	RPID	OWLT

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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

RPID	+ 0.71	BWAY
VERO	+ 0.71	BJDX
OWLT	+ 0.69	BWAY
OWLT	+ 0.63	RPID
VERO	+ 0.6	VAPO
VAPO	+ 0.49	BJDX

High negative correlations

BJDX	- 0.78	BWAY
RPID	- 0.73	VAPO
RPID	- 0.71	BJDX
RPID	- 0.65	VERO
VERO	- 0.62	BWAY
OWLT	- 0.61	SRDX

Risk-Adjusted Indicators

There is a big difference between BrainsWay Pink Sheet performing well and BrainsWay 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 BrainsWay'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
BWAY	2.41	0.23	0.08	0.31	2.87	(2.71)	5.42	(4.76)	24.68
BJDX	6.37	(0.90)	0.00	(2.25)	0.00	0.00	13.03	(13.14)	120.52
VAPO	4.98	(0.30)	0.00	(0.42)	0.00	0.00	15.38	(11.63)	34.31
VERO	6.69	(0.70)	0.00	(0.10)	0.00	0.00	14.71	(13.79)	94.50
ICCM	3.54	0.51	0.08	(3.45)	3.44	(5.81)	9.86	(6.90)	30.34
OSA	104.70	58.31	1.97	(1.16)	13.81	(252.47)	51.22	(20.31)	168.97
SRDX	0.48	(0.06)	0.00	(0.03)	0.00	0.00	1.26	(1.01)	3.22
SSKN	2.87	(0.14)	0.00	(0.19)	0.00	0.00	5.50	(7.20)	16.58
RPID	2.32	0.22	0.08	0.31	2.66	(2.79)	5.88	(4.55)	24.78
OWLT	3.01	0.05	0.00	0.22	3.55	(3.46)	7.09	(4.61)	22.30

Be your own money manager

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