Allied Gaming Correlations

AGAE Stock

1.12 0.02 1.82%

The current 90-days correlation between Allied Gaming Entert and Allied Gaming Entertainment is 0.03 (i.e., Significant diversification). The correlation of Allied Gaming 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.

Allied Gaming Correlation With Market

Significant diversification

The correlation between Allied Gaming Entertainment and DJI is 0.01 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Allied Gaming Entertainment and DJI in the same portfolio, assuming nothing else is changed.

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Allied Gaming Entertainment. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in nation.

Moving together with Allied Stock

0.62	PZZA	Papa Johns International	Pair Corr
0.61	F	Ford Motor Earnings Call This Week	Pair Corr
0.61	CCS	Century Communities	Pair Corr
0.62	KBH	KB Home	Pair Corr
0.61	LOW	Lowes Companies	Pair Corr
0.61	MSN	Emerson Radio	Pair Corr
0.62	MTH	Meritage	Pair Corr
0.8	PDD	PDD Holdings	Pair Corr

Moving against Allied Stock

0.82	EEIQ	Elite Education Group	Pair Corr
0.56	BROS	Dutch Bros	Pair Corr
0.47	W	Wayfair	Pair Corr
0.45	CMG	Chipotle Mexican Grill Earnings Call This Week	Pair Corr
0.44	SHAK	Shake Shack	Pair Corr
0.4	DRI	Darden Restaurants	Pair Corr
0.4	TM	Toyota Motor Earnings Call Tomorrow	Pair Corr
0.73	UTI	Universal Technical Earnings Call This Week	Pair Corr
0.72	GLBE	Global E Online	Pair Corr
0.59	ETSY	Etsy Inc	Pair Corr

Related Correlations Analysis

	APHP	HOFV	AGAEW	TRMNF	ZUMRF	OAMCF	NETWF	CLTFF	GULDF
APHP		0.41	0.13	-0.04	0.39	0.04	0.27	-0.56	0.4	APHP
HOFV	0.41		0.07	-0.09	0.2	-0.02	0.32	-0.39	-0.15	HOFV
AGAEW	0.13	0.07		0.0	-0.57	0.43	0.79	-0.38	0.4	AGAEW
TRMNF	-0.04	-0.09	0.0		0.12	-0.22	0.03	0.18	0.25	TRMNF
ZUMRF	0.39	0.2	-0.57	0.12		-0.22	-0.41	-0.04	0.05	ZUMRF
OAMCF	0.04	-0.02	0.43	-0.22	-0.22		0.45	-0.14	0.06	OAMCF
NETWF	0.27	0.32	0.79	0.03	-0.41	0.45		-0.41	0.38	NETWF
CLTFF	-0.56	-0.39	-0.38	0.18	-0.04	-0.14	-0.41		-0.37	CLTFF
GULDF	0.4	-0.15	0.4	0.25	0.05	0.06	0.38	-0.37		GULDF
	APHP	HOFV	AGAEW	TRMNF	ZUMRF	OAMCF	NETWF	CLTFF	GULDF

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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

NETWF	+ 0.79	AGAEW
NETWF	+ 0.45	OAMCF
OAMCF	+ 0.43	AGAEW
HOFV	+ 0.41	APHP
GULDF	+ 0.4	APHP
GULDF	+ 0.4	AGAEW

High negative correlations

ZUMRF	- 0.57	AGAEW
CLTFF	- 0.56	APHP
CLTFF	- 0.41	NETWF
NETWF	- 0.41	ZUMRF
CLTFF	- 0.39	HOFV
CLTFF	- 0.38	AGAEW

Risk-Adjusted Indicators

There is a big difference between Allied Stock performing well and Allied Gaming 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 Allied Gaming'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
APHP	3.02	(0.09)	0.00	(0.25)	0.00	0.00	11.11	(9.37)	36.30
HOFV	5.87	(0.11)	0.00	(0.07)	0.00	0.00	17.50	(12.00)	42.21
AGAEW	11.47	(0.43)	0.00	2.21	0.00	0.00	25.00	(33.33)	83.33
TRMNF	8.03	2.18	0.00	(1.47)	0.00	0.00	18.18	(21.43)	143.93
ZUMRF	46.76	23.32	0.00	4.01	0.00	0.00	0.00	0.00	1,567
OAMCF	5.25	0.44	0.01	(0.08)	7.35	(16.00)	14.29	(19.05)	73.59
NETWF	2.66	(0.37)	0.00	0.23	0.00	0.00	2.21	(6.83)	59.64
CLTFF	1.98	0.35	0.05	(0.87)	2.20	(5.37)	6.38	(5.24)	20.17
GULDF	49.82	23.27	0.00	(24.92)	0.00	0.00	0.00	0.00	1,048

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