Abits Correlations
| ABTS Stock | 0.62 0.04 6.06% |
The current 90-days correlation between Abits Group and Playtika Holding Corp is 0.24 (i.e., Modest diversification). The correlation of Abits 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. If the correlation is 0, the equities are not correlated; they are entirely random.
Abits Correlation With Market
Average diversification
The correlation between Abits Group and DJI is 0.13 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Abits Group and DJI in the same portfolio, assuming nothing else is changed.
Abits |
Moving together with Abits Stock
| 0.78 | CNK | Cinemark Holdings | PairCorr |
| 0.8 | FOXA | Fox Corp Class | PairCorr |
| 0.71 | DIS | Walt Disney Aggressive Push | PairCorr |
| 0.71 | EVC | Entravision Communications | PairCorr |
| 0.82 | FOX | Fox Corp Class | PairCorr |
| 0.66 | LYV | Live Nation Entertainment | PairCorr |
| 0.8 | MCS | Marcus | PairCorr |
| 0.86 | NWS | News Corp B | PairCorr |
| 0.85 | PSO | Pearson PLC ADR | PairCorr |
Moving against Abits Stock
| 0.68 | DLPN | Dolphin Entertainment | PairCorr |
| 0.57 | DRCT | Direct Digital Holdings | PairCorr |
| 0.37 | IQ | iQIYI Inc Buyout Trend | PairCorr |
| 0.36 | WIMI | WiMi Hologram Cloud | PairCorr |
| 0.54 | IPG | Interpublic Group | PairCorr |
| 0.46 | GTN | Gray Television | PairCorr |
| 0.72 | SGA | Saga Communications | PairCorr |
| 0.7 | LILAK | Liberty Latin America | PairCorr |
| 0.51 | MMV | MultiMetaVerse Holdings | PairCorr |
| 0.51 | RDI | Reading International | PairCorr |
Related Correlations Analysis
| 0.0 | 0.85 | -0.56 | 0.81 | 0.74 | 0.9 | PLTK | ||
| 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | EVOHD | ||
| 0.85 | 0.0 | -0.79 | 0.94 | 0.77 | 0.74 | ALK | ||
| -0.56 | 0.0 | -0.79 | -0.7 | -0.57 | -0.42 | DINO | ||
| 0.81 | 0.0 | 0.94 | -0.7 | 0.69 | 0.7 | WAB | ||
| 0.74 | 0.0 | 0.77 | -0.57 | 0.69 | 0.71 | SBFFY | ||
| 0.9 | 0.0 | 0.74 | -0.42 | 0.7 | 0.71 | AL | ||
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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
| High negative correlations
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Risk-Adjusted Indicators
There is a big difference between Abits Stock performing well and Abits 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 Abits' 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| PLTK | 1.18 | 0.05 | 0.02 | 0.17 | 1.24 | 2.33 | 7.19 | |||
| EVOHD | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
| ALK | 1.55 | 0.47 | 0.32 | 0.55 | 0.95 | 4.71 | 9.94 | |||
| DINO | 1.52 | (0.33) | 0.00 | (0.15) | 0.00 | 2.75 | 11.79 | |||
| WAB | 0.84 | 0.16 | 0.19 | 0.26 | 0.56 | 2.14 | 5.07 | |||
| SBFFY | 0.38 | 0.05 | 0.00 | 0.48 | 0.00 | 0.00 | 13.29 | |||
| AL | 1.28 | (0.01) | 0.04 | 0.11 | 1.37 | 3.00 | 6.71 |
Abits Corporate Executives
Elected by the shareholders, the Abits' board of directors comprises two types of representatives: Abits inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Abits. The board's role is to monitor Abits' management team and ensure that shareholders' interests are well served. Abits' inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, Abits' outside directors are responsible for providing unbiased perspectives on the board's policies.
| Wanhong Tan | CFO Secretary | Profile |