Addentax Group Correlations

ATXG Stock

USD 0.39 0.01 2.63%

The current 90-days correlation between Addentax Group Corp and SUNation Energy is -0.08 (i.e., Good diversification). The correlation of Addentax Group 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.

Addentax Group Correlation With Market

Excellent diversification

The correlation between Addentax Group Corp and DJI is -0.51 (i.e., Excellent diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Addentax Group Corp and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Addentax Stock

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

Moving against Addentax Stock

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Related Correlations Analysis

	SUNE	BKYI	UGRO	ELOG	XPON	CLIK	BAER	SGLY	GVH	DFSC
SUNE		0.2	-0.13	0.2	0.3	-0.05	-0.16	-0.3	0.05	0.31	SUNE
BKYI	0.2		0.0	0.75	0.68	0.61	-0.36	0.05	0.37	0.69	BKYI
UGRO	-0.13	0.0		0.4	0.27	0.63	-0.76	0.26	0.41	0.22	UGRO
ELOG	0.2	0.75	0.4		0.89	0.82	-0.65	0.32	0.61	0.86	ELOG
XPON	0.3	0.68	0.27	0.89		0.67	-0.53	0.36	0.46	0.91	XPON
CLIK	-0.05	0.61	0.63	0.82	0.67		-0.74	0.35	0.61	0.67	CLIK
BAER	-0.16	-0.36	-0.76	-0.65	-0.53	-0.74		-0.09	-0.71	-0.6	BAER
SGLY	-0.3	0.05	0.26	0.32	0.36	0.35	-0.09		-0.01	0.25	SGLY
GVH	0.05	0.37	0.41	0.61	0.46	0.61	-0.71	-0.01		0.63	GVH
DFSC	0.31	0.69	0.22	0.86	0.91	0.67	-0.6	0.25	0.63		DFSC
	SUNE	BKYI	UGRO	ELOG	XPON	CLIK	BAER	SGLY	GVH	DFSC

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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

DFSC	+ 0.91	XPON
XPON	+ 0.89	ELOG
DFSC	+ 0.86	ELOG
CLIK	+ 0.82	ELOG
ELOG	+ 0.75	BKYI
DFSC	+ 0.69	BKYI

High negative correlations

BAER	- 0.76	UGRO
BAER	- 0.74	CLIK
GVH	- 0.71	BAER
BAER	- 0.65	ELOG
DFSC	- 0.6	BAER
BAER	- 0.53	XPON

Risk-Adjusted Indicators

There is a big difference between Addentax Stock performing well and Addentax Group 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 Addentax Group'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
SUNE	5.74	0.75	0.17	0.32	4.56	(9.93)	18.52	(10.00)	55.04
BKYI	4.31	(0.30)	0.00	(1.09)	0.00	0.00	9.26	(8.22)	43.12
UGRO	5.60	(0.90)	0.00	(0.51)	0.00	0.00	12.24	(16.15)	55.24
ELOG	4.89	(1.02)	0.00	(0.80)	0.00	0.00	7.41	(11.11)	39.40
XPON	3.83	(0.78)	0.00	(0.24)	0.00	0.00	8.43	(8.54)	28.87
CLIK	3.84	(0.80)	0.00	0.63	0.00	0.00	12.83	(7.88)	44.45
BAER	3.63	0.66	0.19	0.70	2.78	(5.13)	10.84	(5.24)	22.79
SGLY	4.94	(0.62)	0.00	40.28	0.00	0.00	15.56	(10.45)	37.12
GVH	5.57	(1.83)	0.00	(5.07)	0.00	0.00	9.02	(10.34)	87.78
DFSC	4.09	(0.80)	0.00	(0.24)	0.00	0.00	9.38	(7.25)	35.87

Addentax Group Corporate Executives

Elected by the shareholders, the Addentax Group's board of directors comprises two types of representatives: Addentax Group inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Addentax. The board's role is to monitor Addentax Group's management team and ensure that shareholders' interests are well served. Addentax Group's inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, Addentax Group's outside directors are responsible for providing unbiased perspectives on the board's policies.

Huang Chao

CFO, Treasurer

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