BROAD CAPITAL Correlations
The current 90-days correlation between BROAD CAPITAL ACQUISITION and AlphaTime Acquisition Corp is 0.04 (i.e., Significant diversification). The correlation of BROAD CAPITAL 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.
BROAD CAPITAL Correlation With Market
Good diversification
The correlation between BROAD CAPITAL ACQUISITION and DJI is -0.15 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding BROAD CAPITAL ACQUISITION and DJI in the same portfolio, assuming nothing else is changed.
BROAD |
Moving against BROAD Stock
| 0.48 | DUET | DUET Acquisition Corp | PairCorr |
| 0.44 | DIST | Distoken Acquisition | PairCorr |
| 0.44 | ROCLW | Roth CH Acquisition | PairCorr |
| 0.43 | DPCS | DP Cap Acquisition | PairCorr |
| 0.39 | DTSQ | DT Cloud Star | PairCorr |
| 0.33 | DSAQ | Direct Selling Acqui | PairCorr |
| 0.46 | WTMA | Welsbach Technology | PairCorr |
| 0.33 | OCAXW | OCA Acquisition Corp | PairCorr |
| 0.33 | FRLAU | Fortune Rise Acquisition | PairCorr |
| 0.32 | EMCG | Embrace Change Acqui | PairCorr |
| 0.31 | ESHA | ESH Acquisition Corp | PairCorr |
Related Correlations Analysis
| 0.0 | 0.0 | -1.0 | 0.0 | 0.0 | AVNY | ||
| 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | APNCW | ||
| 0.0 | 0.0 | 0.0 | -0.21 | -0.02 | ATAQF | ||
| -1.0 | 0.0 | 0.0 | 0.0 | 0.0 | AOAO | ||
| 0.0 | 0.0 | -0.21 | 0.0 | 0.85 | APTMU | ||
| 0.0 | 0.0 | -0.02 | 0.0 | 0.85 | ATMC | ||
| Click cells to compare fundamentals | Check Volatility | Backtest Portfolio |
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
| High negative correlations
|
Risk-Adjusted Indicators
There is a big difference between BROAD Stock performing well and BROAD CAPITAL 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 BROAD CAPITAL'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| AVNY | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
| APNCW | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
| ATAQF | 690.00 | 420.67 | 6.42 | (3.47) | 112.48 | 900.00 | 9,999 | |||
| AOAO | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
| APTMU | 0.16 | 0.02 | (0.22) | (1.38) | 0.13 | 0.49 | 1.92 | |||
| ATMC | 0.05 | 0.01 | 0.00 | 1.39 | 0.00 | 0.09 | 0.71 |
BROAD CAPITAL Related Equities
One of the popular trading techniques among algorithmic traders is to use market-neutral strategies where every trade hedges away some risk. Because there are two separate transactions required, even if one position performs unexpectedly, the other equity can make up some of the losses. Below are some of the equities that can be combined with BROAD CAPITAL stock to make a market-neutral strategy. Peer analysis of BROAD CAPITAL could also be used in its relative valuation, which is a method of valuing BROAD CAPITAL by comparing valuation metrics with similar companies.
| Risk & Return | Correlation |