DevvStream Corp Correlations

DEVS Stock

1.04 0.18 20.93%

The current 90-days correlation between DevvStream Corp Common and Mingteng International is 0.04 (i.e., Significant diversification). The correlation of DevvStream Corp 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.

DevvStream Corp Correlation With Market

Excellent diversification

The correlation between DevvStream Corp Common and DJI is -0.67 (i.e., Excellent diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding DevvStream Corp Common and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with DevvStream Stock

Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in DevvStream Corp Common. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in manufacturing.

Moving together with DevvStream Stock

0.69	LZ	LegalZoom	Pair Corr
0.76	0A9G	Mereo BioPharma Group	Pair Corr
0.76	VCIG	VCI Global Limited	Pair Corr
0.88	0G9R	PowerCell Sweden	Pair Corr

Moving against DevvStream Stock

0.86	0QWA	Logista	Pair Corr
0.86	0MPL	SGL Carbon SE	Pair Corr
0.86	0RJI	Anheuser Busch Inbev	Pair Corr
0.85	WM	Waste Management	Pair Corr
0.82	0GWB	Lundbergforetagen AB	Pair Corr
0.81	0QME	Orell Fuessli AG	Pair Corr
0.8	CUV	Realord Group Holdings	Pair Corr
0.8	0LHR	Tyson Foods Cl	Pair Corr
0.78	0I3Z	Deutsche Euroshop	Pair Corr
0.78	0QVK	COFACE	Pair Corr
0.78	0I0J	Clorox	Pair Corr
0.76	0LJB	Uniti Group	Pair Corr
0.76	0K87	NiSource	Pair Corr
0.74	0J4G	Helmerich Payne	Pair Corr
0.74	0HAH	Fortum Oyj	Pair Corr
0.74	0JVV	Lumentum Holdings	Pair Corr
0.72	0Q7L	AMAG Austria Metall Earnings Call This Week	Pair Corr
0.7	BV	BrightView Holdings	Pair Corr
0.68	0HRZ	Cabot Oil Gas Earnings Call This Week	Pair Corr
0.64	0NV5	UPM Kymmene Oyj	Pair Corr
0.48	0JXF	Protector Forsikring ASA	Pair Corr
0.86	0R3E	Lockheed Martin Corp	Pair Corr
0.86	0O7J	Corticeira Amorim	Pair Corr
0.85	0F08	Kongsberg Gruppen ASA	Pair Corr
0.83	0IL1	Federal Realty Investment	Pair Corr
0.83	0JTQ	Lear Corp	Pair Corr
0.8	0LEF	Teradyne	Pair Corr
0.79	0L9E	Stanley Black Decker	Pair Corr
0.78	RFX	Ramsdens Holdings PLC	Pair Corr

Related Correlations Analysis

	HCAI	EHLD	MTEN	CTRM	GTEC	WFF	MSGY	AQMS	JOB
HCAI		0.71	0.78	-0.33	0.43	0.73	0.42	0.76	-0.63	HCAI
EHLD	0.71		0.69	-0.32	0.4	0.6	0.38	0.77	-0.78	EHLD
MTEN	0.78	0.69		-0.49	0.1	0.8	0.08	0.76	-0.77	MTEN
CTRM	-0.33	-0.32	-0.49		-0.29	-0.26	-0.29	-0.45	0.31	CTRM
GTEC	0.43	0.4	0.1	-0.29		0.09	0.54	0.51	-0.1	GTEC
WFF	0.73	0.6	0.8	-0.26	0.09		0.09	0.7	-0.69	WFF
MSGY	0.42	0.38	0.08	-0.29	0.54	0.09		0.31	-0.09	MSGY
AQMS	0.76	0.77	0.76	-0.45	0.51	0.7	0.31		-0.65	AQMS
JOB	-0.63	-0.78	-0.77	0.31	-0.1	-0.69	-0.09	-0.65		JOB
	HCAI	EHLD	MTEN	CTRM	GTEC	WFF	MSGY	AQMS	JOB

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

WFF	+ 0.8	MTEN
MTEN	+ 0.78	HCAI
AQMS	+ 0.77	EHLD
AQMS	+ 0.76	HCAI
AQMS	+ 0.76	MTEN
WFF	+ 0.73	HCAI

High negative correlations

JOB	- 0.78	EHLD
JOB	- 0.77	MTEN
JOB	- 0.69	WFF
JOB	- 0.65	AQMS
JOB	- 0.63	HCAI
CTRM	- 0.49	MTEN

Risk-Adjusted Indicators

There is a big difference between DevvStream Stock performing well and DevvStream Corp 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 DevvStream Corp'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
HCAI	4.70	(0.85)	0.00	1.00	0.00	0.00	8.57	(14.29)	46.58
EHLD	1.00	(0.05)	0.00	0.22	0.00	0.00	2.59	(2.10)	9.31
MTEN	10.10	(5.92)	0.00	(117.06)	0.00	0.00	13.74	(41.67)	104.81
CTRM	2.69	0.26	0.07	0.38	3.18	(3.20)	8.37	(4.27)	22.85
GTEC	6.86	0.08	0.00	(2.90)	8.82	(7.39)	19.23	(14.86)	50.83
WFF	5.09	(0.36)	0.00	(0.20)	0.00	0.00	13.64	(8.00)	63.23
MSGY	5.82	(0.11)	0.00	0.32	0.00	0.00	9.87	(10.29)	99.93
AQMS	4.22	(0.41)	0.00	(0.19)	0.00	0.00	8.26	(9.03)	20.09
JOB	2.44	0.39	0.07	0.47	2.26	(9.42)	5.56	(5.26)	37.27

DevvStream Corp Corporate Management

Jonathan Miller	Chief Officer	Profile
David Goertz	Chief Officer	Profile
Bryan Went	Chief Officer	Profile
Erick Went	Chief Officer	Profile
Sunny Trinh	Chief Officer	Profile

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