Odyssean Investment Correlations

OIT Stock

162.00 2.00 1.25%

The current 90-days correlation between Odyssean Investment Trust and The Biotech Growth is 0.4 (i.e., Very weak diversification). The correlation of Odyssean Investment 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.

Odyssean Investment Correlation With Market

Very weak diversification

The correlation between Odyssean Investment Trust and DJI is 0.45 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Odyssean Investment Trust and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Odyssean Stock

0.9	NBB	Norman Broadbent Plc Split	Pair Corr
0.8	0I9F	Digital Realty Trust	Pair Corr

Related Correlations Analysis

	0J1R	XSG	0LJL	0AAV	MYXR	0HRS	0ROZ	BIOG
0J1R		0.8	0.45	0.76	0.0	-0.34	0.77	0.33	0J1R
XSG	0.8		0.12	0.64	0.0	-0.2	0.73	0.47	XSG
0LJL	0.45	0.12		0.38	0.0	-0.6	-0.07	-0.01	0LJL
0AAV	0.76	0.64	0.38		0.0	-0.52	0.65	0.45	0AAV
MYXR	0.0	0.0	0.0	0.0		0.0	0.0	0.0	MYXR
0HRS	-0.34	-0.2	-0.6	-0.52	0.0		-0.06	-0.08	0HRS
0ROZ	0.77	0.73	-0.07	0.65	0.0	-0.06		0.37	0ROZ
BIOG	0.33	0.47	-0.01	0.45	0.0	-0.08	0.37		BIOG
	0J1R	XSG	0LJL	0AAV	MYXR	0HRS	0ROZ	BIOG

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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

XSG	+ 0.8	0J1R
0ROZ	+ 0.77	0J1R
0AAV	+ 0.76	0J1R
0ROZ	+ 0.73	XSG
0ROZ	+ 0.65	0AAV
0AAV	+ 0.64	XSG

High negative correlations

0HRS	- 0.6	0LJL
0HRS	- 0.52	0AAV
0HRS	- 0.34	0J1R
0HRS	- 0.2	XSG
BIOG	- 0.08	0HRS
0ROZ	- 0.07	0LJL

Risk-Adjusted Indicators

There is a big difference between Odyssean Stock performing well and Odyssean Investment 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 Odyssean Investment'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
0J1R	1.34	0.14	0.04	0.43	1.93	(1.35)	2.96	(3.34)	10.30
XSG	2.58	0.41	0.06	4.50	2.76	(5.76)	7.69	(6.67)	25.58
0LJL	1.69	0.04	(0.04)	(0.04)	2.63	(1.71)	4.66	(3.20)	11.85
0AAV	1.48	0.15	0.03	0.63	1.85	(1.62)	3.58	(3.28)	10.09
MYXR	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
0HRS	1.65	0.00	(0.02)	0.11	2.32	(1.72)	4.14	(3.81)	12.08
0ROZ	2.19	0.90	0.43	1.68	1.35	(2.88)	5.91	(3.63)	12.57
BIOG	1.58	(0.09)	0.00	(0.07)	0.00	0.00	3.23	(3.53)	10.73

Be your own money manager

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