Black Diamond Correlations

BDIMF Stock

USD 8.98 0.27 3.10%

The current 90-days correlation between Black Diamond Group and AutoCanada is 0.19 (i.e., Average diversification). The correlation of Black Diamond 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.

Black Diamond Correlation With Market

Significant diversification

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

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

Moving together with Black OTC Stock

0.72	PTAIY	Astra International Tbk Earnings Call This Week	Pair Corr
0.78	PTAIF	PT Astra International Earnings Call This Week	Pair Corr
0.78	PKX	POSCO Holdings Earnings Call Today	Pair Corr
0.68	PUTKY	United Tractors Tbk	Pair Corr
0.67	PIFMY	Indofood Sukses Makmur	Pair Corr
0.86	JPM	JPMorgan Chase	Pair Corr
0.79	IBM	International Business Earnings Call Today	Pair Corr
0.77	AXP	American Express	Pair Corr
0.84	CSCO	Cisco Systems Sell-off Trend	Pair Corr
0.81	DIS	Walt Disney	Pair Corr
0.77	AA	Alcoa Corp	Pair Corr
0.76	MMM	3M Company	Pair Corr
0.87	BA	Boeing Earnings Call This Week	Pair Corr
0.85	GE	GE Aerospace	Pair Corr
0.92	CAT	Caterpillar	Pair Corr
0.88	MSFT	Microsoft Earnings Call This Week	Pair Corr
0.83	BAC	Bank of America Aggressive Push	Pair Corr
0.78	CVX	Chevron Corp	Pair Corr

Moving against Black OTC Stock

0.59	MCD	McDonalds	Pair Corr
0.49	PG	Procter Gamble Earnings Call This Week	Pair Corr

Related Correlations Analysis

	AFDG	BCVVF	ALTG-PA	ASHTF	AOCIF	AGMJF	CWXZF	PSYTF	AEGXF
AFDG		-0.49	-0.4	-0.59	-0.71	-0.26	-0.59	-0.38	-0.66	AFDG
BCVVF	-0.49		0.72	0.71	0.82	0.79	0.74	0.8	0.78	BCVVF
ALTG-PA	-0.4	0.72		0.85	0.8	0.65	0.75	0.7	0.73	ALTG-PA
ASHTF	-0.59	0.71	0.85		0.83	0.62	0.83	0.72	0.85	ASHTF
AOCIF	-0.71	0.82	0.8	0.83		0.63	0.86	0.73	0.83	AOCIF
AGMJF	-0.26	0.79	0.65	0.62	0.63		0.58	0.63	0.62	AGMJF
CWXZF	-0.59	0.74	0.75	0.83	0.86	0.58		0.84	0.92	CWXZF
PSYTF	-0.38	0.8	0.7	0.72	0.73	0.63	0.84		0.81	PSYTF
AEGXF	-0.66	0.78	0.73	0.85	0.83	0.62	0.92	0.81		AEGXF
	AFDG	BCVVF	ALTG-PA	ASHTF	AOCIF	AGMJF	CWXZF	PSYTF	AEGXF

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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

AEGXF	+ 0.92	CWXZF
CWXZF	+ 0.86	AOCIF
ASHTF	+ 0.85	ALTG-PA
AEGXF	+ 0.85	ASHTF
PSYTF	+ 0.84	CWXZF
AOCIF	+ 0.83	ASHTF

High negative correlations

AOCIF	- 0.71	AFDG
AEGXF	- 0.66	AFDG
CWXZF	- 0.59	AFDG
ASHTF	- 0.59	AFDG
BCVVF	- 0.49	AFDG
ALTG-PA	- 0.4	AFDG

Risk-Adjusted Indicators

There is a big difference between Black OTC Stock performing well and Black Diamond OTC Stock 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 Black Diamond'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
AFDG	4.03	(0.69)	0.00	(0.11)	0.00	0.00	0.00	(20.00)	116.67
BCVVF	0.54	0.19	0.00	(0.41)	0.00	0.00	0.87	0.00	10.50
ALTG-PA	0.89	0.08	(0.02)	0.41	1.06	(0.98)	2.10	(1.92)	10.77
ASHTF	2.01	0.42	0.08	(1.16)	1.95	(2.49)	5.34	(3.33)	13.04
AOCIF	2.02	0.99	0.22	(16.27)	0.54	(5.70)	8.39	(0.72)	19.27
AGMJF	0.78	0.17	0.00	0.77	0.00	0.00	1.67	(0.28)	15.88
CWXZF	1.14	0.35	0.24	1.29	0.31	(1.76)	2.44	(1.42)	14.35
PSYTF	1.38	0.04	(0.02)	0.26	1.64	(2.11)	3.50	(3.21)	12.43
AEGXF	1.29	0.25	0.03	(12.95)	2.05	(1.47)	2.79	(2.52)	11.91

Be your own money manager

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