Erf Wireless Correlations

The correlation of Erf Wireless 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.

Erf Wireless Correlation With Market

Excellent diversification

The correlation between Erf Wireless and DJI is -0.53 (i.e., Excellent diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Erf Wireless and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Erf Stock

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

For information on how to trade Erf Stock refer to our How to Trade Erf Stock guide.

Moving together with Erf Stock

0.66	ALNTG	Netgem SA	Pair Corr
0.66	EXTR	Extreme Networks	Pair Corr
0.9	GW3	GAPWAVES AB CLASS	Pair Corr
0.62	PARRO	Parrot	Pair Corr
0.62	FKWL	Franklin Wireless Corp	Pair Corr

Moving against Erf Stock

0.96	UI	Ubiquiti Networks	Pair Corr
0.87	MTLA	Motorola Solutions	Pair Corr
0.85	VIAV	Viavi Solutions	Pair Corr
0.84	NOA3	Nokia	Pair Corr
0.78	ERCG	Telefonaktiebolaget	Pair Corr
0.77	ERIC	Telefonaktiebolaget Aggressive Push	Pair Corr
0.76	ERCA	Telefonaktiebolaget	Pair Corr
0.74	FIEE	FiEE Inc Symbol Change	Pair Corr
0.74	ERCB	Telefonaktiebolaget	Pair Corr
0.72	S1L	SILICOM LTD IS	Pair Corr
0.69	3YL	SMARTOPTICS GRP AS	Pair Corr
0.63	VSAT	ViaSat Inc	Pair Corr
0.57	AP7	Clearfield	Pair Corr
0.53	CFC	UET United Electronic	Pair Corr
0.52	1RN	NuRAN Wireless Split	Pair Corr
0.47	FFIV	F5 Networks	Pair Corr
0.37	ENA	Enablence Technologies Earnings Call This Week	Pair Corr
0.87	MSI	Motorola Solutions	Pair Corr
0.86	NOK	Nokia Corp ADR	Pair Corr
0.85	NOAA	Nokia	Pair Corr
0.8	CIE1	Ciena Earnings Call This Week	Pair Corr
0.79	CUEH	Chengdu PUTIAN Telec	Pair Corr
0.74	ITRN	Ituran Location Earnings Call This Week	Pair Corr
0.73	ALLEC	Cogelec SA	Pair Corr
0.68	CUAN	CYANCONNODE HLDGS	Pair Corr
0.67	IDCC	InterDigital	Pair Corr

Related Correlations Analysis

	PDXP	KSIH	NTPL	RCMH	EQTD	GOSY	VCTY	BTVRF	ICLD	ELST
PDXP		0.0	1.0	1.0	1.0	1.0	0.0	1.0	1.0	0.0	PDXP
KSIH	0.0		0.0	0.0	0.0	0.0	0.0	0.0	0.0	-0.72	KSIH
NTPL	1.0	0.0		1.0	1.0	1.0	0.0	1.0	1.0	0.0	NTPL
RCMH	1.0	0.0	1.0		1.0	1.0	0.0	1.0	1.0	0.0	RCMH
EQTD	1.0	0.0	1.0	1.0		1.0	0.0	1.0	1.0	0.0	EQTD
GOSY	1.0	0.0	1.0	1.0	1.0		0.0	1.0	1.0	0.0	GOSY
VCTY	0.0	0.0	0.0	0.0	0.0	0.0		0.0	0.0	0.0	VCTY
BTVRF	1.0	0.0	1.0	1.0	1.0	1.0	0.0		1.0	0.0	BTVRF
ICLD	1.0	0.0	1.0	1.0	1.0	1.0	0.0	1.0		0.0	ICLD
ELST	0.0	-0.72	0.0	0.0	0.0	0.0	0.0	0.0	0.0		ELST
	PDXP	KSIH	NTPL	RCMH	EQTD	GOSY	VCTY	BTVRF	ICLD	ELST

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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

NTPL	+ 1.0	PDXP
RCMH	+ 1.0	PDXP
EQTD	+ 1.0	PDXP
GOSY	+ 1.0	PDXP
BTVRF	+ 1.0	PDXP
ICLD	+ 1.0	PDXP

High negative correlations

ELST	- 0.72	KSIH
ELST	- 0.0	ICLD
ELST	- 0.0	BTVRF
ELST	- 0.0	VCTY
ICLD	- 0.0	VCTY
BTVRF	- 0.0	VCTY

Risk-Adjusted Indicators

There is a big difference between Erf Stock performing well and Erf Wireless 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 Erf Wireless' 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	Treynor Ratio	Maximum Drawdown
PDXP	0.00	0.00	0.00	0.00
KSIH	79.34	37.83	1.06	2,400
NTPL	0.00	0.00	0.00	0.00
RCMH	0.00	0.00	0.00	0.00
EQTD	0.00	0.00	0.00	0.00
GOSY	0.00	0.00	0.00	0.00
VCTY	0.00	0.00	0.00	0.00
BTVRF	0.00	0.00	0.00	0.00
ICLD	0.00	0.00	0.00	0.00
ELST	1.21	(0.06)	0.14	65.00

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