A2Z Smart Correlations

AZ Stock

USD 6.94 0.51 7.93%

The current 90-days correlation between A2Z Smart Technologies and Nauticus Robotics is -0.04 (i.e., Good diversification). The correlation of A2Z Smart 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.

A2Z Smart Correlation With Market

Average diversification

The correlation between A2Z Smart Technologies and DJI is 0.13 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding A2Z Smart Technologies 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 A2Z Smart Technologies. 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 A2Z Stock

0.76	DJCO	Daily Journal Corp	Pair Corr
0.64	AI	C3 Ai Inc Trending	Pair Corr
0.81	BL	Blackline	Pair Corr
0.68	EB	Eventbrite Class A	Pair Corr
0.73	ML	MoneyLion	Pair Corr
0.77	WK	Workiva	Pair Corr
0.89	ZM	Zoom Video Communications Earnings Call Tomorrow	Pair Corr
0.87	DOCU	DocuSign	Pair Corr
0.79	DOMO	Domo Inc Earnings Call This Week	Pair Corr
0.83	VERX	Vertex	Pair Corr
0.84	DSGX	Descartes Systems	Pair Corr
0.76	DUOL	Duolingo	Pair Corr
0.89	DUOT	Duos Technologies Downward Rally	Pair Corr
0.61	VMEO	Vimeo Inc	Pair Corr
0.62	VTSI	VirTra Inc	Pair Corr
0.79	EGHT	8x8 Common Stock	Pair Corr
0.66	ENFN	Enfusion	Pair Corr

Moving against A2Z Stock

0.45	VCSA	Vacasa Inc	Pair Corr
0.66	VTEX	VTEX	Pair Corr
0.49	VERB	VERB TECHNOLOGY PANY Trending	Pair Corr
0.49	ILLRW	Triller Group Symbol Change	Pair Corr
0.84	ETWO	E2open Parent Holdings	Pair Corr
0.79	BMR	Beamr Imaging	Pair Corr

Related Correlations Analysis

	KITTW	ISSC	NPK	HXL	PKE	DCO	AIRI	CVU	AIR	BRSI
KITTW		-0.47	-0.06	0.18	-0.54	-0.29	0.35	-0.51	-0.03	0.0	KITTW
ISSC	-0.47		0.34	0.0	0.88	0.17	-0.36	0.2	-0.22	0.0	ISSC
NPK	-0.06	0.34		0.41	0.51	0.54	-0.11	-0.09	0.42	0.0	NPK
HXL	0.18	0.0	0.41		0.16	0.17	0.31	-0.17	-0.1	0.0	HXL
PKE	-0.54	0.88	0.51	0.16		0.35	-0.37	0.29	-0.03	0.0	PKE
DCO	-0.29	0.17	0.54	0.17	0.35		-0.23	0.12	0.55	0.0	DCO
AIRI	0.35	-0.36	-0.11	0.31	-0.37	-0.23		-0.48	-0.27	0.0	AIRI
CVU	-0.51	0.2	-0.09	-0.17	0.29	0.12	-0.48		0.02	0.0	CVU
AIR	-0.03	-0.22	0.42	-0.1	-0.03	0.55	-0.27	0.02		0.0	AIR
BRSI	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0		BRSI
	KITTW	ISSC	NPK	HXL	PKE	DCO	AIRI	CVU	AIR	BRSI

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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

PKE	+ 0.88	ISSC
AIR	+ 0.55	DCO
DCO	+ 0.54	NPK
PKE	+ 0.51	NPK
AIR	+ 0.42	NPK
HXL	+ 0.41	NPK

High negative correlations

PKE	- 0.54	KITTW
CVU	- 0.51	KITTW
CVU	- 0.48	AIRI
ISSC	- 0.47	KITTW
AIRI	- 0.37	PKE
AIRI	- 0.36	ISSC

Risk-Adjusted Indicators

There is a big difference between A2Z Stock performing well and A2Z Smart 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 A2Z Smart'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
KITTW	4.89	(0.11)	0.00	0.17	0.00	0.00	12.32	(13.51)	35.31
ISSC	1.37	0.16	0.02	(18.18)	1.54	(1.55)	3.28	(3.31)	9.31
NPK	1.16	0.09	(0.03)	(0.71)	1.36	(1.27)	2.43	(2.44)	8.03
HXL	1.15	(0.03)	0.00	0.22	0.00	0.00	2.00	(2.66)	6.19
PKE	1.26	0.21	0.05	(0.58)	1.03	(1.70)	2.61	(1.98)	12.34
DCO	1.27	0.02	(0.04)	0.22	1.52	(1.39)	2.90	(2.30)	8.32
AIRI	3.83	(0.31)	0.00	4.04	0.00	0.00	6.27	(7.70)	41.32
CVU	2.28	0.48	0.10	(1.35)	2.69	(2.69)	5.54	(3.51)	17.36
AIR	1.47	(0.08)	0.01	0.08	1.91	(1.61)	2.64	(3.52)	14.62
BRSI	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00

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