PowerFleet Correlations

AIOT Stock

5.25 0.07 1.32%

The current 90-days correlation between PowerFleet and Ituran Location and is -0.08 (i.e., Good diversification). The correlation of PowerFleet 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.

PowerFleet Correlation With Market

Very weak diversification

The correlation between PowerFleet and DJI is 0.56 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding PowerFleet and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with PowerFleet Stock

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

For more information on how to buy PowerFleet Stock please use our How to Invest in PowerFleet guide.

Moving together with PowerFleet Stock

0.64	301321	Highbroad Advanced	Pair Corr
0.65	FEIM	Frequency Electronics	Pair Corr
0.7	ARW	Arrow Electronics	Pair Corr
0.71	VSH	Vishay Intertechnology	Pair Corr
0.72	300939	Shenzhen AV Display	Pair Corr

Moving against PowerFleet Stock

0.5	002175	Oriental Times Media	Pair Corr
0.61	600082	Tianjin Hi Tech	Pair Corr
0.58	TTG	TT Electronics Plc	Pair Corr

Related Correlations Analysis

	ITRN	APPS	ADTN	BKSY	PSFE	YMM	LYTS	RSKD	GILT	ARQQ
ITRN		-0.53	0.0	-0.31	-0.54	-0.54	-0.47	0.72	-0.31	-0.58	ITRN
APPS	-0.53		0.62	0.74	0.94	0.86	0.9	-0.41	0.82	0.78	APPS
ADTN	0.0	0.62		0.6	0.67	0.59	0.76	0.01	0.82	0.51	ADTN
BKSY	-0.31	0.74	0.6		0.8	0.54	0.71	-0.37	0.75	0.79	BKSY
PSFE	-0.54	0.94	0.67	0.8		0.86	0.93	-0.4	0.87	0.82	PSFE
YMM	-0.54	0.86	0.59	0.54	0.86		0.83	-0.33	0.79	0.7	YMM
LYTS	-0.47	0.9	0.76	0.71	0.93	0.83		-0.4	0.88	0.76	LYTS
RSKD	0.72	-0.41	0.01	-0.37	-0.4	-0.33	-0.4		-0.24	-0.58	RSKD
GILT	-0.31	0.82	0.82	0.75	0.87	0.79	0.88	-0.24		0.75	GILT
ARQQ	-0.58	0.78	0.51	0.79	0.82	0.7	0.76	-0.58	0.75		ARQQ
	ITRN	APPS	ADTN	BKSY	PSFE	YMM	LYTS	RSKD	GILT	ARQQ

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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

PSFE	+ 0.94	APPS
LYTS	+ 0.93	PSFE
LYTS	+ 0.9	APPS
GILT	+ 0.88	LYTS
GILT	+ 0.87	PSFE
YMM	+ 0.86	APPS

High negative correlations

ARQQ	- 0.58	RSKD
ARQQ	- 0.58	ITRN
YMM	- 0.54	ITRN
PSFE	- 0.54	ITRN
APPS	- 0.53	ITRN
LYTS	- 0.47	ITRN

Risk-Adjusted Indicators

There is a big difference between PowerFleet Stock performing well and PowerFleet 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 PowerFleet'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
ITRN	1.27	0.26	0.17	1.93	0.93	(1.53)	3.51	(1.76)	8.15
APPS	3.91	(0.36)	0.00	7.07	0.00	0.00	7.03	(7.68)	37.27
ADTN	2.38	(0.04)	0.00	(0.02)	0.00	0.00	4.76	(4.26)	30.13
BKSY	4.99	(0.25)	0.00	0.34	0.00	0.00	9.42	(11.45)	23.64
PSFE	2.72	(0.64)	0.00	7.40	0.00	0.00	3.92	(5.16)	31.41
YMM	1.93	(0.32)	0.00	(0.90)	0.00	0.00	3.66	(5.02)	16.94
LYTS	1.46	(0.33)	0.00	(1.23)	0.00	0.00	2.56	(3.41)	13.78
RSKD	1.46	0.05	0.00	0.21	2.13	(1.72)	3.73	(2.66)	13.98
GILT	2.49	(0.08)	0.00	(0.10)	0.00	0.00	5.06	(4.56)	15.78
ARQQ	5.95	(0.69)	0.00	(0.08)	0.00	0.00	11.26	(10.64)	46.11

PowerFleet Corporate Management

James Zeitunian	Chief Officer	Profile
Brodie Berg	Managing Australasia	Profile
Melissa Garza	Chief Officer	Profile
Mike Powell	Chief Officer	Profile
Offer Lehmann	Chief Officer	Profile
Luiz Munhoz	Managing Brazil	Profile

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