Bannix Acquisition Correlations

BNIX Stock

USD 11.18 0.06 0.53%

The current 90-days correlation between Bannix Acquisition Corp and Embrace Change Acquisition is 0.15 (i.e., Average diversification). The correlation of Bannix Acquisition 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.

Bannix Acquisition Correlation With Market

Average diversification

The correlation between Bannix Acquisition Corp and DJI is 0.19 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Bannix Acquisition Corp 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 Bannix Acquisition 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 gross domestic product.

Moving together with Bannix Stock

0.67	L	Loews Corp	Pair Corr
0.69	V	Visa Class A	Pair Corr
0.69	AX	Axos Financial	Pair Corr
0.69	BY	Byline Bancorp Fiscal Year End 23rd of January 2025	Pair Corr

Moving against Bannix Stock

0.43	DB	Deutsche Bank AG	Pair Corr
0.55	LU	Lufax Holding Buyout Trend	Pair Corr
0.49	WD	Walker Dunlop Normal Trading	Pair Corr
0.44	WU	Western Union	Pair Corr
0.32	TD	Toronto Dominion Bank Earnings Call Next Week	Pair Corr
0.32	XP	Xp Inc Downward Rally	Pair Corr

Related Correlations Analysis

	TENK	EMCG	HPLT	NRAC	GBBK	MCACW	MACAW	NRACW	TAKD	GLRI
TENK		0.53	0.47	0.58	0.18	0.48	-0.43	-0.25	0.41	0.68	TENK
EMCG	0.53		0.72	0.74	0.47	0.51	-0.15	-0.08	0.55	0.42	EMCG
HPLT	0.47	0.72		0.91	0.55	0.3	0.03	-0.35	0.48	0.35	HPLT
NRAC	0.58	0.74	0.91		0.6	0.34	-0.05	-0.32	0.64	0.46	NRAC
GBBK	0.18	0.47	0.55	0.6		0.25	-0.05	-0.08	0.62	0.25	GBBK
MCACW	0.48	0.51	0.3	0.34	0.25		-0.05	0.07	0.49	0.62	MCACW
MACAW	-0.43	-0.15	0.03	-0.05	-0.05	-0.05		0.25	-0.18	-0.28	MACAW
NRACW	-0.25	-0.08	-0.35	-0.32	-0.08	0.07	0.25		0.0	-0.18	NRACW
TAKD	0.41	0.55	0.48	0.64	0.62	0.49	-0.18	0.0		0.58	TAKD
GLRI	0.68	0.42	0.35	0.46	0.25	0.62	-0.28	-0.18	0.58		GLRI
	TENK	EMCG	HPLT	NRAC	GBBK	MCACW	MACAW	NRACW	TAKD	GLRI

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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

NRAC	+ 0.91	HPLT
NRAC	+ 0.74	EMCG
HPLT	+ 0.72	EMCG
GLRI	+ 0.68	TENK
TAKD	+ 0.64	NRAC
TAKD	+ 0.62	GBBK

High negative correlations

MACAW	- 0.43	TENK
NRACW	- 0.35	HPLT
NRACW	- 0.32	NRAC
GLRI	- 0.28	MACAW
NRACW	- 0.25	TENK
GLRI	- 0.18	NRACW

Risk-Adjusted Indicators

There is a big difference between Bannix Stock performing well and Bannix Acquisition 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 Bannix Acquisition'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
TENK	6.34	2.09	0.05	(0.95)	11.83	(10.59)	5.56	(0.43)	192.93
EMCG	0.13	0.01	(0.25)	(0.50)	0.12	(0.27)	0.35	(0.43)	1.12
HPLT	0.09	0.03	0.00	(2.03)	0.00	0.00	0.30	(0.10)	1.09
NRAC	0.12	0.04	0.00	1.25	0.00	0.00	0.48	0.00	1.84
GBBK	0.13	(0.01)	(0.20)	(0.05)	0.19	(0.33)	0.54	(0.63)	1.45
MCACW	18.92	1.73	0.04	(0.24)	22.74	(22.69)	60.00	(40.00)	140.00
MACAW	9.78	1.37	0.10	0.54	9.91	(17.06)	30.65	(19.00)	71.53
NRACW	22.87	3.00	0.13	0.64	21.47	(34.88)	66.67	(46.64)	145.37
TAKD	33.09	16.95	0.00	(0.70)	0.00	0.00	0.00	(0.50)	1,083
GLRI	323.26	182.08	0.00	(1.08)	0.00	0.00	0.00	0.00	9,700

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