Chicago Rivet Correlations

CVR Stock

USD 13.95 0.30 2.11%

The current 90-days correlation between Chicago Rivet Machine and Polar Power is 0.11 (i.e., Average diversification). The correlation of Chicago Rivet 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.

Chicago Rivet Correlation With Market

Weak diversification

The correlation between Chicago Rivet Machine and DJI is 0.39 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Chicago Rivet Machine and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Chicago Stock

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

Moving together with Chicago Stock

0.84	PL	Planet Labs PBC	Pair Corr
0.63	TE	T1 Energy Symbol Change	Pair Corr
0.67	601100	Jiangsu Hengli Hydraulic	Pair Corr

Moving against Chicago Stock

0.81	688420	Tianjin Meiteng Tech	Pair Corr
0.39	VATE	Innovate Corp	Pair Corr
0.39	688218	Jiangsu Beiren Robot	Pair Corr
0.55	600666	Aurora Optoelectronics	Pair Corr
0.4	301053	Yoantion Industrial	Pair Corr
0.39	688190	Qingdao Yunlu Advanced	Pair Corr
0.37	EAAS	Eenergy Group PLC	Pair Corr
0.36	688557	BlueSword Intelligent	Pair Corr
0.59	301032	Zhejiang Xinchai	Pair Corr
0.55	002774	IFE Elevators	Pair Corr
0.53	WATR	Current Water Techno	Pair Corr

Related Correlations Analysis

	ZOOZ	POLA	KITT	SOAR	CETY	MWG	CLWT	MNTS	GLXG	EHGO
ZOOZ		0.8	0.94	0.73	0.89	0.7	0.83	0.91	0.8	0.95	ZOOZ
POLA	0.8		0.8	0.82	0.62	0.51	0.6	0.9	0.84	0.81	POLA
KITT	0.94	0.8		0.76	0.85	0.62	0.83	0.92	0.82	0.97	KITT
SOAR	0.73	0.82	0.76		0.55	0.42	0.48	0.82	0.63	0.75	SOAR
CETY	0.89	0.62	0.85	0.55		0.68	0.72	0.77	0.7	0.88	CETY
MWG	0.7	0.51	0.62	0.42	0.68		0.62	0.58	0.53	0.64	MWG
CLWT	0.83	0.6	0.83	0.48	0.72	0.62		0.74	0.58	0.79	CLWT
MNTS	0.91	0.9	0.92	0.82	0.77	0.58	0.74		0.9	0.92	MNTS
GLXG	0.8	0.84	0.82	0.63	0.7	0.53	0.58	0.9		0.84	GLXG
EHGO	0.95	0.81	0.97	0.75	0.88	0.64	0.79	0.92	0.84		EHGO
	ZOOZ	POLA	KITT	SOAR	CETY	MWG	CLWT	MNTS	GLXG	EHGO

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Risk-Adjusted Indicators

There is a big difference between Chicago Stock performing well and Chicago Rivet 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 Chicago Rivet'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
ZOOZ	5.22	(1.91)	0.00	(1.10)	0.00	0.00	12.92	(10.17)	65.52
POLA	4.91	(0.65)	0.00	(0.61)	0.00	0.00	10.93	(10.51)	34.33
KITT	8.16	(1.45)	0.00	(0.17)	0.00	0.00	12.75	(14.95)	141.67
SOAR	6.53	(0.49)	0.00	(0.07)	0.00	0.00	11.48	(13.92)	60.35
CETY	7.41	(1.85)	0.00	(0.22)	0.00	0.00	8.93	(19.86)	140.58
MWG	2.88	0.33	0.07	0.67	2.54	(7.17)	7.41	(3.85)	15.41
CLWT	2.34	(0.11)	0.00	(0.15)	0.00	0.00	4.55	(4.24)	18.02
MNTS	7.24	(1.60)	0.00	(0.22)	0.00	0.00	15.70	(15.97)	64.45
GLXG	4.61	(1.29)	0.00	(0.51)	0.00	0.00	6.71	(12.98)	51.45
EHGO	3.46	(1.48)	0.00	3.61	0.00	0.00	5.56	(9.30)	28.72

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