Bannix Acquisition Correlations
| BNIXR Stock | USD 0.10 0.01 11.11% |
The current 90-days correlation between Bannix Acquisition Corp and Bannix Acquisition Corp is 0.18 (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
Significant diversification
The correlation between Bannix Acquisition Corp and DJI is 0.09 (i.e., Significant 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.
Bannix |
Moving against Bannix Stock
| 0.34 | LU | Lufax Holding Buyout Trend | PairCorr |
| 0.32 | LX | Lexinfintech Holdings Trending | PairCorr |
| 0.31 | DB | Deutsche Bank AG | PairCorr |
| 0.37 | TW | Tradeweb Markets | PairCorr |
| 0.34 | LGHLW | Lion Financial Group | PairCorr |
| 0.31 | PFTAW | Portage Fintech Acqu | PairCorr |
Related Correlations Analysis
| 0.11 | -0.62 | 0.04 | 0.28 | BNIXW | ||
| 0.11 | -0.21 | 0.33 | 0.24 | BREZR | ||
| -0.62 | -0.21 | -0.25 | -0.3 | ADOCR | ||
| 0.04 | 0.33 | -0.25 | 0.28 | WINVR | ||
| 0.28 | 0.24 | -0.3 | 0.28 | BNIX | ||
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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
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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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| BNIXW | 13.08 | 0.97 | 0.07 | 0.29 | 12.92 | 41.18 | 121.26 | |||
| BREZR | 9.33 | 1.39 | 0.04 | (0.18) | 12.11 | 20.00 | 87.81 | |||
| ADOCR | 14.83 | 2.17 | 0.10 | 0.85 | 15.20 | 58.33 | 124.12 | |||
| WINVR | 3.16 | (0.49) | 0.00 | (0.86) | 0.00 | 7.14 | 40.38 | |||
| BNIX | 0.09 | (0.01) | (0.27) | (0.12) | 0.16 | 0.27 | 1.79 |