Digital Ally Correlations

DGLY Stock

USD 0.23 0.01 4.17%

The correlation of Digital Ally 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.

Digital Ally Correlation With Market

Good diversification

The correlation between Digital Ally and DJI is -0.05 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Digital Ally and DJI in the same portfolio, assuming nothing else is changed.

Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in Digital Ally. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as various price indices.

For more information on how to buy Digital Stock please use our How to Invest in Digital Ally guide.

Moving together with Digital Stock

0.83	IAC	IAC Inc	Pair Corr
0.67	GETY	Getty Images Holdings	Pair Corr
0.71	GIFT	RDE, Inc Symbol Change	Pair Corr

Moving against Digital Stock

0.79	GOOG	Alphabet Class C Earnings Call This Week	Pair Corr
0.6	YY	YY Inc Class	Pair Corr
0.59	DOYU	DouYu International	Pair Corr
0.55	OB	Outbrain	Pair Corr
0.48	GITS	Global Interactive Symbol Change	Pair Corr
0.35	TC	TuanChe ADR	Pair Corr
0.79	GOOGL	Alphabet Class A Earnings Call This Week	Pair Corr
0.72	JFIN	Jiayin Group	Pair Corr
0.67	LCFY	Locafy Upward Rally	Pair Corr
0.66	SEATW	Vivid Seats Warrant	Pair Corr
0.66	MATH	Metalpha Technology	Pair Corr
0.64	META	Meta Platforms Aggressive Push	Pair Corr
0.63	YELP	Yelp Inc	Pair Corr
0.56	NBIS	Nebius Group NV Symbol Change	Pair Corr
0.53	PODC	Courtside Group, Common	Pair Corr
0.36	ONFOW	Onfolio Holdings Warrant	Pair Corr
0.32	MNYWW	MoneyHero Limited	Pair Corr
0.31	KRKR	36Kr Holdings Trending	Pair Corr

Related Correlations Analysis

	LIZI	ZDGE	EGLX	KRKR	LTRPA	MAX	SEAT	CMCM	ATHM
LIZI		0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	LIZI
ZDGE	0.0		0.0	0.03	0.0	0.09	0.15	0.05	0.26	ZDGE
EGLX	0.0	0.0		0.0	0.0	0.0	0.0	0.0	0.0	EGLX
KRKR	0.0	0.03	0.0		0.0	-0.01	0.15	-0.25	0.6	KRKR
LTRPA	0.0	0.0	0.0	0.0		0.0	0.0	0.0	0.0	LTRPA
MAX	0.0	0.09	0.0	-0.01	0.0		-0.28	-0.07	0.04	MAX
SEAT	0.0	0.15	0.0	0.15	0.0	-0.28		-0.5	0.22	SEAT
CMCM	0.0	0.05	0.0	-0.25	0.0	-0.07	-0.5		0.03	CMCM
ATHM	0.0	0.26	0.0	0.6	0.0	0.04	0.22	0.03		ATHM
	LIZI	ZDGE	EGLX	KRKR	LTRPA	MAX	SEAT	CMCM	ATHM

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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

ATHM	+ 0.6	KRKR
ATHM	+ 0.26	ZDGE
ATHM	+ 0.22	SEAT
SEAT	+ 0.15	ZDGE
SEAT	+ 0.15	KRKR
MAX	+ 0.09	ZDGE

High negative correlations

CMCM	- 0.5	SEAT
SEAT	- 0.28	MAX
CMCM	- 0.25	KRKR
CMCM	- 0.07	MAX
MAX	- 0.01	KRKR
ATHM	- 0.0	LTRPA

Risk-Adjusted Indicators

There is a big difference between Digital Stock performing well and Digital Ally 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 Digital Ally'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
LIZI	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
ZDGE	4.06	0.05	0.02	0.12	5.57	(4.71)	10.20	(9.65)	49.03
EGLX	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
KRKR	6.83	1.74	0.26	1.90	5.63	(10.66)	12.33	(9.74)	148.29
LTRPA	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
MAX	2.93	(0.30)	0.00	0.24	0.00	0.00	5.77	(6.38)	27.74
SEAT	3.01	0.12	0.03	0.26	3.09	(3.95)	6.67	(5.31)	23.75
CMCM	3.62	(0.02)	(0.01)	0.07	5.20	(4.09)	9.21	(6.34)	33.86
ATHM	1.64	0.15	0.03	(1.45)	1.86	(1.73)	3.17	(3.30)	9.63

Digital Ally Corporate Executives

Elected by the shareholders, the Digital Ally's board of directors comprises two types of representatives: Digital Ally inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Digital. The board's role is to monitor Digital Ally's management team and ensure that shareholders' interests are well served. Digital Ally's inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, Digital Ally's outside directors are responsible for providing unbiased perspectives on the board's policies.

Thomas Heckman

CFO, VP, Treasurer and Secretary

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