Evertz Technologies Correlations

EVTZF Stock

USD 10.92 0.32 3.02%

The correlation of Evertz Technologies 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.

Evertz Technologies Correlation With Market

Modest diversification

The correlation between Evertz Technologies Limited and DJI is 0.21 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Evertz Technologies Limited and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Evertz Pink Sheet

0.69	LNDNF	Lundin Energy AB	Pair Corr
0.64	CAT	Caterpillar	Pair Corr
0.76	AA	Alcoa Corp	Pair Corr
0.84	WMT	Walmart Common Stock	Pair Corr
0.7	JNJ	Johnson Johnson	Pair Corr
0.63	MCD	McDonalds	Pair Corr

Moving against Evertz Pink Sheet

0.68	PG	Procter Gamble	Pair Corr
0.49	HD	Home Depot	Pair Corr
0.45	CVX	Chevron Corp	Pair Corr
0.43	T	ATT Inc	Pair Corr
0.39	DIS	Walt Disney	Pair Corr

Related Correlations Analysis

	EVSBY	OKIEF	NGRRF	WACMY	SESMF	IGGGF	VARXF	SWDHF	WRDLY	OKIEY
EVSBY		0.0	-0.87	0.6	-0.2	0.01	0.64	-0.78	0.66	-0.78	EVSBY
OKIEF	0.0		0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	OKIEF
NGRRF	-0.87	0.0		-0.77	0.42	-0.23	-0.67	0.73	-0.7	0.74	NGRRF
WACMY	0.6	0.0	-0.77		-0.31	0.2	0.62	-0.56	0.63	-0.5	WACMY
SESMF	-0.2	0.0	0.42	-0.31		-0.44	-0.37	0.37	-0.27	0.43	SESMF
IGGGF	0.01	0.0	-0.23	0.2	-0.44		0.38	-0.36	0.47	-0.33	IGGGF
VARXF	0.64	0.0	-0.67	0.62	-0.37	0.38		-0.84	0.82	-0.77	VARXF
SWDHF	-0.78	0.0	0.73	-0.56	0.37	-0.36	-0.84		-0.86	0.92	SWDHF
WRDLY	0.66	0.0	-0.7	0.63	-0.27	0.47	0.82	-0.86		-0.81	WRDLY
OKIEY	-0.78	0.0	0.74	-0.5	0.43	-0.33	-0.77	0.92	-0.81		OKIEY
	EVSBY	OKIEF	NGRRF	WACMY	SESMF	IGGGF	VARXF	SWDHF	WRDLY	OKIEY

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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

OKIEY	+ 0.92	SWDHF
WRDLY	+ 0.82	VARXF
OKIEY	+ 0.74	NGRRF
SWDHF	+ 0.73	NGRRF
WRDLY	+ 0.66	EVSBY
VARXF	+ 0.64	EVSBY

High negative correlations

NGRRF	- 0.87	EVSBY
WRDLY	- 0.86	SWDHF
SWDHF	- 0.84	VARXF
OKIEY	- 0.81	WRDLY
OKIEY	- 0.78	EVSBY
SWDHF	- 0.78	EVSBY

Risk-Adjusted Indicators

There is a big difference between Evertz Pink Sheet performing well and Evertz Technologies 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 Evertz Technologies' 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
EVSBY	0.64	(0.16)	0.00	(0.11)	0.00	0.00	1.35	(2.29)	16.81
OKIEF	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NGRRF	2.17	0.79	0.32	(3.85)	1.16	(3.85)	5.26	(2.97)	31.07
WACMY	0.01	(0.02)	0.00	(1.22)	0.00	0.00	0.00	0.00	0.45
SESMF	2.81	0.58	0.06	1.01	3.77	(6.07)	7.62	(5.71)	32.39
IGGGF	0.54	(0.14)	0.00	1.33	0.00	0.00	0.00	0.00	15.76
VARXF	0.38	(0.04)	0.00	0.37	0.00	0.00	0.00	(1.41)	14.73
SWDHF	0.99	0.44	0.00	0.64	0.00	0.00	0.00	0.00	33.33
WRDLY	3.58	(1.15)	0.00	(0.35)	0.00	0.00	5.52	(8.04)	23.60
OKIEY	0.33	0.11	0.00	0.91	0.00	0.00	0.00	0.00	13.49

Be your own money manager

Our tools can tell you how much better you can do entering a position in Evertz Technologies 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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Evertz Technologies Corporate Management

Douglas Moore	CFO Sec	Profile
Antoniella Assalone	Controller	Profile
Vince Silvestri	VicePres Systems	Profile
Simon Reed	Managing UK	Profile

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