Manhattan Correlations

MHTZF Stock

USD 0.03 0.0003 0.97%

The correlation of Manhattan 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.

Manhattan Correlation With Market

Good diversification

The correlation between Manhattan Limited and DJI is -0.2 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Manhattan Limited and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Manhattan Pink Sheet

0.68	MTC	MMTEC Inc Tech Boost	Pair Corr
0.7	NHIC	NewHold Investment Corp	Pair Corr
0.8	PACH	Pioneer Acquisition	Pair Corr
0.63	COPL	Copley Acquisition Corp	Pair Corr
0.66	CSCO	Cisco Systems	Pair Corr
0.65	AAPL	Apple Inc	Pair Corr
0.63	LFST	Lifestance Health	Pair Corr

Moving against Manhattan Pink Sheet

0.56

LTNC

Labor Smart

Pair Corr

Related Correlations Analysis

	TLSMF	CPPMF	BBBXF	DNRSF	ACRG	SMOFF	WEXPF	PVGDF	RGXTF	LGCXF
TLSMF		0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	TLSMF
CPPMF	0.0		-0.24	0.11	0.61	-0.07	-0.71	0.31	0.11	0.67	CPPMF
BBBXF	0.0	-0.24		0.28	-0.23	-0.25	0.59	-0.34	-0.11	0.33	BBBXF
DNRSF	0.0	0.11	0.28		0.55	0.09	0.11	-0.5	-0.48	0.3	DNRSF
ACRG	0.0	0.61	-0.23	0.55		0.24	-0.5	-0.12	-0.44	0.43	ACRG
SMOFF	0.0	-0.07	-0.25	0.09	0.24		-0.08	-0.11	-0.22	-0.15	SMOFF
WEXPF	0.0	-0.71	0.59	0.11	-0.5	-0.08		-0.47	-0.15	-0.28	WEXPF
PVGDF	0.0	0.31	-0.34	-0.5	-0.12	-0.11	-0.47		0.36	0.21	PVGDF
RGXTF	0.0	0.11	-0.11	-0.48	-0.44	-0.22	-0.15	0.36		-0.01	RGXTF
LGCXF	0.0	0.67	0.33	0.3	0.43	-0.15	-0.28	0.21	-0.01		LGCXF
	TLSMF	CPPMF	BBBXF	DNRSF	ACRG	SMOFF	WEXPF	PVGDF	RGXTF	LGCXF

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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

LGCXF	+ 0.67	CPPMF
ACRG	+ 0.61	CPPMF
WEXPF	+ 0.59	BBBXF
ACRG	+ 0.55	DNRSF
LGCXF	+ 0.43	ACRG
RGXTF	+ 0.36	PVGDF

High negative correlations

WEXPF	- 0.71	CPPMF
WEXPF	- 0.5	ACRG
PVGDF	- 0.5	DNRSF
RGXTF	- 0.48	DNRSF
PVGDF	- 0.47	WEXPF
RGXTF	- 0.44	ACRG

Risk-Adjusted Indicators

There is a big difference between Manhattan Pink Sheet performing well and Manhattan 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 Manhattan'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
TLSMF	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
CPPMF	4.45	0.39	0.05	0.73	4.67	(8.60)	11.76	(10.53)	24.44
BBBXF	3.39	(0.16)	0.00	(0.06)	0.00	0.00	6.52	(7.69)	27.32
DNRSF	3.77	0.49	0.08	(0.38)	3.72	(5.61)	7.69	(5.56)	38.96
ACRG	5.64	2.70	0.00	(0.50)	0.00	0.00	0.80	(0.79)	152.79
SMOFF	3.60	0.24	0.04	0.28	3.68	(7.32)	7.14	(6.67)	21.43
WEXPF	3.29	(0.51)	0.00	(1.12)	0.00	0.00	6.45	(6.56)	24.38
PVGDF	4.41	0.31	0.05	0.21	4.71	(7.73)	11.11	(10.00)	30.95
RGXTF	15.74	3.71	0.17	(0.45)	13.74	(23.87)	34.46	(23.50)	241.10
LGCXF	5.40	0.74	0.11	0.63	4.85	(9.70)	18.18	(9.09)	34.29

Be your own money manager

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