Distoken Acquisition Correlations

DISTR Stock

45,119 350.20 0.78%

The current 90-days correlation between Distoken Acquisition and Zijin Mining Group is 0.38 (i.e., Weak diversification). The correlation of Distoken Acquisition 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.

Distoken Acquisition Correlation With Market

Very good diversification

The correlation between Distoken Acquisition and DJI is -0.36 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Distoken Acquisition and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Distoken Stock

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

To learn how to invest in Distoken Stock, please use our How to Invest in Distoken Acquisition guide.

Moving together with Distoken Stock

0.7	CLDN	Caledonia Investments	Pair Corr
0.62	KPLTW	Katapult Holdings Equity	Pair Corr
0.71	CNNE	Cannae Holdings	Pair Corr

Moving against Distoken Stock

0.74	COHG	Cheetah Oil Gas	Pair Corr
0.56	IBAC	IB Acquisition Corp	Pair Corr
0.52	HYAC	Haymaker Acquisition Corp	Pair Corr
0.5	BFDE	Bedford Energy	Pair Corr
0.35	JEF	Jefferies Financial	Pair Corr
0.31	OAKUR	Oak Woods Acquisition	Pair Corr
0.68	CMI	Cummins	Pair Corr
0.68	NE	Noble plc	Pair Corr
0.59	NFYEF	NFI Group	Pair Corr
0.58	GRMC	Goldrich Mining	Pair Corr
0.56	ATI	Allegheny Technologies	Pair Corr
0.53	HLTOF	Hellenic Telecommunicatio	Pair Corr
0.53	BKV	BKV Corporation	Pair Corr
0.5	KMFG	KMFG	Pair Corr
0.48	NECB	Northeast Community Normal Trading	Pair Corr
0.37	CMCL	Caledonia Mining	Pair Corr
0.36	LODE	Comstock Mining	Pair Corr
0.35	RDUFF	Radius Gold	Pair Corr
0.68	RIG	Transocean Buyout Trend	Pair Corr
0.65	DCOM	Dime Community Bancshares	Pair Corr
0.64	HL	Hecla Mining	Pair Corr
0.62	CPPKF	Copperbank Resources Corp	Pair Corr
0.62	IFS	Intercorp Financial Earnings Call This Week	Pair Corr
0.61	DRRSF	Arianne Phosphate	Pair Corr

Related Correlations Analysis

	LOMLF	GTCDF	EMN	WAFU	COE	CTYMF	ZIJMF
LOMLF		0.0	0.8	0.01	-0.82	0.85	0.85	LOMLF
GTCDF	0.0		0.0	0.0	0.0	0.0	0.0	GTCDF
EMN	0.8	0.0		0.0	-0.88	0.62	0.88	EMN
WAFU	0.01	0.0	0.0		0.15	0.2	0.12	WAFU
COE	-0.82	0.0	-0.88	0.15		-0.69	-0.85	COE
CTYMF	0.85	0.0	0.62	0.2	-0.69		0.79	CTYMF
ZIJMF	0.85	0.0	0.88	0.12	-0.85	0.79		ZIJMF
	LOMLF	GTCDF	EMN	WAFU	COE	CTYMF	ZIJMF

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

ZIJMF	+ 0.88	EMN
CTYMF	+ 0.85	LOMLF
ZIJMF	+ 0.85	LOMLF
EMN	+ 0.8	LOMLF
ZIJMF	+ 0.79	CTYMF
CTYMF	+ 0.62	EMN

High negative correlations

COE	- 0.88	EMN
ZIJMF	- 0.85	COE
COE	- 0.82	LOMLF
CTYMF	- 0.69	COE
WAFU	- 0.0	EMN
ZIJMF	- 0.0	GTCDF

Risk-Adjusted Indicators

There is a big difference between Distoken Stock performing well and Distoken Acquisition 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 Distoken Acquisition'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
LOMLF	3.51	0.69	0.10	(4.34)	3.36	(6.22)	8.33	(5.56)	25.64
GTCDF	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
EMN	1.64	0.30	0.17	0.25	1.56	(1.84)	5.51	(3.03)	9.74
WAFU	2.14	0.02	0.00	0.07	2.56	(2.59)	4.52	(4.71)	15.74
COE	2.44	(0.87)	0.00	(13.57)	0.00	0.00	3.97	(10.46)	23.58
CTYMF	2.36	0.51	0.07	(0.24)	2.73	(5.30)	6.56	(4.54)	37.35
ZIJMF	2.70	0.41	0.10	0.40	3.53	(2.87)	6.34	(4.76)	21.57

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