Argo Blockchain Correlations

ARBKL Stock

USD 7.10 0.10 1.39%

The current 90-days correlation between Argo Blockchain plc and Greenidge Generation Holdings is 0.07 (i.e., Significant diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Argo Blockchain moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Argo Blockchain plc moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Argo Blockchain Correlation With Market

Significant diversification

The correlation between Argo Blockchain plc and DJI is 0.03 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Argo Blockchain plc 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 Argo Blockchain plc. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in industry.

Moving together with Argo Stock

0.61	VHAI	VHAI	Pair Corr
0.71	EVOL	Evolving Systems	Pair Corr
0.62	FAASW	DigiAsia Corp Symbol Change	Pair Corr
0.71	WAI	Top KingWin Symbol Change	Pair Corr
0.83	WCT	Wellchange Holdings	Pair Corr
0.79	GLXG	Galaxy Payroll Group	Pair Corr
0.65	LFLY	Leafly Holdings	Pair Corr

Moving against Argo Stock

0.86	SQ	BLOCK INC Symbol Change	Pair Corr
0.71	GECCZ	Great Elm Capital	Pair Corr
0.7	SAIHW	SAIHEAT Limited Symbol Change	Pair Corr
0.63	GECCI	Great Elm Capital	Pair Corr
0.59	GECCO	Great Elm Capital	Pair Corr
0.57	FLUT	Flutter Entertainment plc	Pair Corr
0.42	GECCH	GECCH	Pair Corr
0.34	FALC	FalconStor Software	Pair Corr
0.77	ZENA	ZenaTech	Pair Corr
0.89	MVLA	Movella Holdings	Pair Corr
0.8	TRTN-PB	Triton International	Pair Corr

Related Correlations Analysis

	GREEL	TELZ	HROWL	FOSLL	ATLCL
GREEL		0.17	0.53	0.47	0.65	GREEL
TELZ	0.17		0.62	0.78	0.31	TELZ
HROWL	0.53	0.62		0.79	0.68	HROWL
FOSLL	0.47	0.78	0.79		0.62	FOSLL
ATLCL	0.65	0.31	0.68	0.62		ATLCL
	GREEL	TELZ	HROWL	FOSLL	ATLCL

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Risk-Adjusted Indicators

There is a big difference between Argo Stock performing well and Argo Blockchain 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 Argo Blockchain'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
GREEL	2.25	0.28	0.04	0.85	4.37	(2.26)	4.95	(4.25)	26.48
TELZ	0.61	0.16	0.06	(0.97)	0.60	(0.84)	1.97	(1.28)	4.40
HROWL	0.24	0.02	(0.19)	0.65	0.26	(0.29)	0.61	(0.40)	1.98
FOSLL	1.19	0.21	0.07	(0.58)	1.14	(1.59)	3.28	(2.36)	8.60
ATLCL	0.46	0.03	(0.07)	0.21	0.53	(0.49)	0.96	(0.88)	2.84

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