Firefly Neuroscience Correlations

AIFF Stock   1.12  0.05  4.67%   
The current 90-days correlation between Firefly Neuroscience and ConnectM Technology Solutions is -0.03 (i.e., Good diversification). The correlation of Firefly Neuroscience 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.

Firefly Neuroscience Correlation With Market

Significant diversification

The correlation between Firefly Neuroscience and DJI is 0.06 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Firefly Neuroscience 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 Firefly Neuroscience. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in census.
For more detail on how to invest in Firefly Stock please use our How to Invest in Firefly Neuroscience guide.

Moving together with Firefly Stock

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Moving against Firefly Stock

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Related Correlations Analysis


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

ARBECXAI
CXAIANY
ARBEANY
CXAINXPL
ARBENXPL
ANYNXPL
  

High negative correlations

CXAIMNDO
MNDONXPL
NTCLCNTM
MNDOANY
ARBEMNDO
CXAICNTM

Risk-Adjusted Indicators

There is a big difference between Firefly Stock performing well and Firefly Neuroscience 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 Firefly Neuroscience'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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
CNTM  8.67  1.09  0.09  1.42  8.88 
 22.73 
 54.57 
NTCL  5.86 (1.36) 0.00 (0.79) 0.00 
 6.31 
 62.86 
NXPL  4.20 (0.42) 0.00 (0.09) 0.00 
 9.43 
 28.43 
SAGT  3.66  0.03  0.00  0.03  0.00 
 5.58 
 29.68 
VEEA  6.07 (0.54) 0.00 (0.07) 0.00 
 14.29 
 34.60 
ANY  4.77 (1.44) 0.00 (0.76) 0.00 
 9.09 
 31.58 
MNDO  1.57  0.19  0.05  1.36  1.61 
 5.77 
 14.13 
CXAI  4.88 (1.43) 0.00 (0.47) 0.00 
 10.00 
 36.84 
ARBE  4.78 (0.91) 0.00 (0.18) 0.00 
 9.71 
 30.17 
RMSG  4.99 (0.25) 0.00 (0.71) 0.00 
 10.13 
 65.55