PHENIXFIN Correlations

Q29 Stock

46.80 0.00 0.00%

The current 90-days correlation between PHENIXFIN P DL and TITANIUM TRANSPORTGROUP is 0.19 (i.e., Average diversification). The correlation of PHENIXFIN 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.

PHENIXFIN Correlation With Market

Significant diversification

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

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

Moving together with PHENIXFIN Stock

0.78	APC	Apple Inc	Pair Corr
0.78	APC	Apple Inc	Pair Corr
0.78	APC	Apple Inc	Pair Corr
0.78	APC	Apple Inc	Pair Corr
0.78	APC	Apple Inc	Pair Corr
0.78	APC	Apple Inc	Pair Corr
0.69	MSF	Microsoft	Pair Corr
0.67	MSF	Microsoft	Pair Corr
0.68	MSF	Microsoft	Pair Corr
0.68	MSF	Microsoft	Pair Corr
0.69	2CDA	Controladora Vuela Compaa	Pair Corr
0.77	TSFA	Taiwan Semiconductor	Pair Corr
0.62	EN3	Enbridge	Pair Corr
0.61	2T9A	TRAINLINE PLC LS	Pair Corr
0.68	MSF	Microsoft	Pair Corr
0.74	C6TB	CHINA BANK ADR20	Pair Corr
0.67	AZ5	AutoZone	Pair Corr

Moving against PHENIXFIN Stock

0.74	SSU	Samsung Electronics	Pair Corr
0.73	SSU	Samsung Electronics	Pair Corr
0.73	SSUN	Samsung Electronics	Pair Corr
0.72	SSUN	Samsung Electronics	Pair Corr
0.54	TCID	Telkom Indonesia Tbk	Pair Corr
0.52	PTI	Perusahaan Perseroan	Pair Corr
0.52	TCID	Telkom Indonesia Tbk	Pair Corr
0.48	TCID	Telkom Indonesia Tbk	Pair Corr
0.55	TCID	Telkom Indonesia Tbk	Pair Corr
0.38	ECHA	Ecopetrol SA	Pair Corr
0.45	AXI	Atos SE	Pair Corr

Related Correlations Analysis

	I9V	CN6	UUEC	FUY	A2P	3GH	AP3	MSI
I9V		-0.29	0.7	-0.44	-0.28	-0.42	0.67	-0.47	I9V
CN6	-0.29		-0.54	0.21	0.21	0.39	-0.41	0.33	CN6
UUEC	0.7	-0.54		-0.08	-0.22	-0.54	0.77	-0.33	UUEC
FUY	-0.44	0.21	-0.08		0.39	-0.05	-0.21	0.43	FUY
A2P	-0.28	0.21	-0.22	0.39		-0.13	-0.5	0.28	A2P
3GH	-0.42	0.39	-0.54	-0.05	-0.13		-0.12	-0.09	3GH
AP3	0.67	-0.41	0.77	-0.21	-0.5	-0.12		-0.59	AP3
MSI	-0.47	0.33	-0.33	0.43	0.28	-0.09	-0.59		MSI
	I9V	CN6	UUEC	FUY	A2P	3GH	AP3	MSI

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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

AP3	+ 0.77	UUEC
UUEC	+ 0.7	I9V
AP3	+ 0.67	I9V
MSI	+ 0.43	FUY
3GH	+ 0.39	CN6
A2P	+ 0.39	FUY

High negative correlations

MSI	- 0.59	AP3
3GH	- 0.54	UUEC
UUEC	- 0.54	CN6
AP3	- 0.5	A2P
MSI	- 0.47	I9V
FUY	- 0.44	I9V

Risk-Adjusted Indicators

There is a big difference between PHENIXFIN Stock performing well and PHENIXFIN 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 PHENIXFIN'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
I9V	1.84	0.15	0.05	1.23	1.97	(2.33)	4.26	(3.42)	11.37
CN6	2.35	0.22	0.05	0.31	2.76	(4.15)	7.02	(3.39)	24.75
UUEC	0.97	0.00	(0.03)	0.07	1.09	(1.40)	2.31	(1.62)	7.00
FUY	1.23	(0.08)	0.00	(0.24)	0.00	0.00	2.61	(2.61)	12.14
A2P	1.85	0.16	0.04	(1.05)	2.25	(2.34)	5.38	(4.94)	12.26
3GH	1.20	0.03	(0.01)	(0.58)	1.50	(1.24)	2.28	(2.32)	12.00
AP3	0.95	0.14	0.10	0.89	0.83	(1.16)	1.69	(1.65)	11.35
MSI	1.27	(0.24)	0.00	(0.85)	0.00	0.00	1.98	(2.73)	10.19

Be your own money manager

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