Sharp Correlations

SHCAF Stock

USD 6.00 0.02 0.33%

The current 90-days correlation between Sharp and AU Optronics Corp is 0.06 (i.e., Significant diversification). The correlation of Sharp 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.

Sharp Correlation With Market

Significant diversification

The correlation between Sharp and DJI is 0.05 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Sharp and DJI in the same portfolio, assuming nothing else is changed.

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

Moving against Sharp Pink Sheet

0.86	PCRFF	Panasonic Holdings	Pair Corr
0.67	AAPL	Apple Inc	Pair Corr
0.64	SHG	Shinhan Financial	Pair Corr
0.44	KYOCF	Kyocera	Pair Corr
0.86	BTU	Peabody Energy Corp	Pair Corr
0.75	PRWYF	Prodways Group SA	Pair Corr
0.73	PANW	Palo Alto Networks	Pair Corr
0.67	NCPCF	Nickel Creek Platinum	Pair Corr
0.66	GRCGF	Guardian Capital	Pair Corr
0.63	WETH	Wetouch Technology Common	Pair Corr
0.62	ANNX	Annexon Trending	Pair Corr
0.51	LLY	Eli Lilly	Pair Corr
0.5	TGTX	TG Therapeutics	Pair Corr
0.49	EBRZF	Enbridge	Pair Corr
0.39	CDTX	Cidara Therapeutics Sell-off Trend	Pair Corr
0.87	IREN	IREN Earnings Call This Week	Pair Corr
0.76	CDIOW	Cardio Diagnostics	Pair Corr
0.75	WMWWF	West Wits Mining	Pair Corr
0.73	DEWY	Dewey Electronics	Pair Corr
0.68	NORD	Nordicus Partners	Pair Corr
0.63	BKOR	Oak Ridge Financial	Pair Corr

Related Correlations Analysis

	TCLHF	HRIBF	ASUUY	AUOTY	RNSHF	VEMLF	SPSAF	HPHTF	APELY	TSYHF
TCLHF		0.0	0.0	0.51	0.11	0.15	0.2	-0.02	-0.31	-0.14	TCLHF
HRIBF	0.0		0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	HRIBF
ASUUY	0.0	0.0		0.0	0.0	0.0	0.0	0.0	0.0	0.0	ASUUY
AUOTY	0.51	0.0	0.0		0.32	0.26	0.65	0.41	-0.75	0.13	AUOTY
RNSHF	0.11	0.0	0.0	0.32		-0.35	-0.13	0.3	-0.08	-0.27	RNSHF
VEMLF	0.15	0.0	0.0	0.26	-0.35		0.54	-0.31	-0.34	0.36	VEMLF
SPSAF	0.2	0.0	0.0	0.65	-0.13	0.54		0.03	-0.58	0.28	SPSAF
HPHTF	-0.02	0.0	0.0	0.41	0.3	-0.31	0.03		-0.3	0.15	HPHTF
APELY	-0.31	0.0	0.0	-0.75	-0.08	-0.34	-0.58	-0.3		-0.22	APELY
TSYHF	-0.14	0.0	0.0	0.13	-0.27	0.36	0.28	0.15	-0.22		TSYHF
	TCLHF	HRIBF	ASUUY	AUOTY	RNSHF	VEMLF	SPSAF	HPHTF	APELY	TSYHF

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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

SPSAF	+ 0.65	AUOTY
SPSAF	+ 0.54	VEMLF
AUOTY	+ 0.51	TCLHF
HPHTF	+ 0.41	AUOTY
TSYHF	+ 0.36	VEMLF
RNSHF	+ 0.32	AUOTY

High negative correlations

APELY	- 0.75	AUOTY
APELY	- 0.58	SPSAF
VEMLF	- 0.35	RNSHF
APELY	- 0.34	VEMLF
HPHTF	- 0.31	VEMLF
APELY	- 0.31	TCLHF

Risk-Adjusted Indicators

There is a big difference between Sharp Pink Sheet performing well and Sharp 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 Sharp'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
TCLHF	2.64	0.19	0.02	(0.26)	3.36	(7.44)	9.84	(7.30)	27.01
HRIBF	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
ASUUY	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
AUOTY	2.14	(0.46)	0.00	(1.11)	0.00	0.00	3.64	(5.24)	12.82
RNSHF	0.74	0.09	0.00	0.13	0.00	0.00	1.38	(0.21)	19.79
VEMLF	0.40	0.10	0.00	0.42	0.00	0.00	0.00	0.00	3.50
SPSAF	1.07	(0.52)	0.00	0.64	0.00	0.00	0.00	0.00	17.19
HPHTF	1.01	(0.24)	0.00	(0.47)	0.00	0.00	3.23	(3.67)	19.51
APELY	0.85	0.24	0.00	1.10	0.00	0.00	1.47	0.00	17.31
TSYHF	6.04	0.38	0.03	(0.18)	7.08	(7.69)	15.57	(8.76)	62.31

Be your own money manager

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