Cheetah Net Correlations

Stocks . USA . 
Stock . Cheetah Net Supply
CTNT Stock   1.93  0.16  9.04%   
The current 90-days correlation between Cheetah Net Supply and Summit Materials is 0.13 (i.e., Average diversification). The correlation of Cheetah Net 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.

Cheetah Net Correlation With Market

Weak diversification

The correlation between Cheetah Net Supply 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 Cheetah Net Supply 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 Cheetah Net Supply. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in board of governors.

Moving together with Cheetah Stock

  0.88DIBS 1StdibsComPairCorr
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  0.69BGI Birks GroupPairCorr

Moving against Cheetah Stock

  0.86VSCO Victorias SecretPairCorr
  0.74WINA WinmarkPairCorr
  0.61ABG Asbury AutomotivePairCorr
  0.6WEYS Weyco GroupPairCorr
  0.44HD Home DepotPairCorr
  0.37JD JD Inc Adr Aggressive PushPairCorr
  0.35RH RHPairCorr
  0.34BQ Boqii Holding LimitedPairCorr
  0.85LAD Lithia MotorsPairCorr
  0.76DDS DillardsPairCorr
  0.74GME GameStop Corp Aggressive PushPairCorr
  0.73ELA Envela CorpPairCorr
  0.71FTEL Fitell OrdinaryPairCorr
  0.65BKE Buckle IncPairCorr
  0.63GPI Group 1 AutomotivePairCorr
  0.62BBW Build A Bear Earnings Call This WeekPairCorr
  0.52EYE National Vision HoldingsPairCorr
  0.32XELB Xcel BrandsPairCorr

Related Correlations Analysis

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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   
ALK
+ 0.81
SUM
WAVS
+ 0.79
SYPLF
ALK
+ 0.78
SYPLF
ALK
+ 0.65
WAVS
SYPLF
+ 0.58
SUM
WAVS
+ 0.56
SUM
  
High negative correlations   
NOKFF
- 1.0
PIUTQ
ALK
- 0.77
AGZNF
AGZNF
- 0.77
SUM
SIM
- 0.63
SUM
ALK
- 0.62
SIM
SIM
- 0.45
SYPLF

Risk-Adjusted Indicators

There is a big difference between Cheetah Stock performing well and Cheetah Net 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 Cheetah Net'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.

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