Eastside Distilling Correlations

BLNE Stock

1.76 0.07 3.83%

The current 90-days correlation between Eastside Distilling and Ihuman Inc is 0.1 (i.e., Average diversification). The correlation of Eastside Distilling 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.

Eastside Distilling Correlation With Market

Weak diversification

The correlation between Eastside Distilling and DJI is 0.3 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Eastside Distilling and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Eastside Stock

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

For information on how to trade Eastside Stock refer to our How to Trade Eastside Stock guide.

Moving together with Eastside Stock

0.91	WVVI	Willamette Valley	Pair Corr
0.91	IBG	Innovation Beverage	Pair Corr
0.83	200869	Yantai Changyu Pioneer	Pair Corr
0.77	TWE	Treasury Wine Estates	Pair Corr
0.7	000995	Gansu Huangtai Wine	Pair Corr
0.73	200596	Anhui Gujing Distillery	Pair Corr
0.77	LRK	Lark Distilling	Pair Corr
0.67	600559	Hebei Hengshui Laobaigan	Pair Corr
0.67	AVG	Australian Vintage	Pair Corr

Moving against Eastside Stock

0.83	CSW-A	Corby Spirit	Pair Corr
0.77	CSW-B	Corby Spirit	Pair Corr
0.63	ADW-A	Andrew Peller Limited	Pair Corr
0.62	EDV	Endeavour Group	Pair Corr
0.5	ADW-B	Andrew Peller Limited	Pair Corr
0.4	603919	Jinhui Liquor	Pair Corr
0.61	600238	Hainan Yedao Group	Pair Corr
0.6	ERHE	ERHC Energy	Pair Corr

Related Correlations Analysis

	JZ	IH	BTOG	UG	BTCT	COOT	AMZE	WVVI	FARM	JVA
JZ		0.76	0.86	0.73	0.82	0.6	0.69	0.6	0.81	0.65	JZ
IH	0.76		0.74	0.47	0.63	0.5	0.55	0.21	0.6	0.48	IH
BTOG	0.86	0.74		0.87	0.97	0.49	0.92	0.7	0.87	0.83	BTOG
UG	0.73	0.47	0.87		0.9	0.54	0.9	0.87	0.89	0.91	UG
BTCT	0.82	0.63	0.97	0.9		0.45	0.94	0.77	0.89	0.86	BTCT
COOT	0.6	0.5	0.49	0.54	0.45		0.39	0.42	0.52	0.44	COOT
AMZE	0.69	0.55	0.92	0.9	0.94	0.39		0.82	0.83	0.87	AMZE
WVVI	0.6	0.21	0.7	0.87	0.77	0.42	0.82		0.76	0.8	WVVI
FARM	0.81	0.6	0.87	0.89	0.89	0.52	0.83	0.76		0.8	FARM
JVA	0.65	0.48	0.83	0.91	0.86	0.44	0.87	0.8	0.8		JVA
	JZ	IH	BTOG	UG	BTCT	COOT	AMZE	WVVI	FARM	JVA

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Risk-Adjusted Indicators

There is a big difference between Eastside Stock performing well and Eastside Distilling 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 Eastside Distilling'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
JZ	2.21	(0.55)	0.00	(7.58)	0.00	0.00	4.38	(4.88)	22.74
IH	2.68	(0.54)	0.00	4.86	0.00	0.00	5.61	(6.74)	16.49
BTOG	5.34	(1.34)	0.00	(0.32)	0.00	0.00	10.53	(10.81)	31.56
UG	1.32	(0.34)	0.00	(1.53)	0.00	0.00	2.59	(3.31)	10.64
BTCT	4.19	(0.94)	0.00	(0.24)	0.00	0.00	7.39	(7.47)	21.83
COOT	9.93	1.91	0.22	0.98	7.44	(13.49)	19.30	(15.45)	194.32
AMZE	6.95	(2.36)	0.00	(0.47)	0.00	0.00	20.00	(15.22)	44.11
WVVI	2.96	(0.15)	0.00	0.29	0.00	0.00	6.98	(7.09)	16.88
FARM	1.88	(0.26)	0.00	(0.22)	0.00	0.00	4.05	(3.90)	19.74
JVA	2.30	(0.41)	0.00	(0.17)	0.00	0.00	5.54	(4.94)	16.33

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