Eureka Acquisition Correlations

EURK Stock

10.18 0.01 0.1%

A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Eureka Acquisition moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Eureka Acquisition Corp moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Eureka Acquisition Correlation With Market

Modest diversification

The correlation between Eureka Acquisition Corp and DJI is 0.25 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Eureka Acquisition Corp 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 Eureka Acquisition Corp. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in metropolitan statistical area.

Moving together with Eureka Stock

0.74	VCIC	Vine Hill Capital	Pair Corr
0.94	DSAQ	Direct Selling Acqui	Pair Corr
0.93	DTSQ	DT Cloud Star	Pair Corr
0.61	DUET	DUET Acquisition Corp	Pair Corr
0.75	MLACU	MOUNTAIN LAKE ACQUISITION	Pair Corr
0.8	OCAXW	OCA Acquisition Corp	Pair Corr
0.72	WTMA	Welsbach Technology	Pair Corr
0.63	WAVSU	Western Acquisition	Pair Corr
0.87	FRLAU	Fortune Rise Acquisition	Pair Corr
0.77	BSIIU	Black Spade Acquisition	Pair Corr
0.71	FHLT	Future Health Esg	Pair Corr
0.92	AAM	AA Mission Acquisition	Pair Corr

Moving against Eureka Stock

0.71	IMAQR	International Media	Pair Corr
0.48	IMAQU	International Media	Pair Corr
0.45	WAVSW	Western Acquisition	Pair Corr
0.44	IMAQW	International Media	Pair Corr
0.38	GDSTW	Goldenstone Acquisition	Pair Corr
0.77	GATE	Marblegate Acquisition	Pair Corr
0.38	BAYAR	Bayview Acquisition Corp	Pair Corr

Related Correlations Analysis

	EVOH	CCG	ASLE	ZH	NOW	DINO	ALK
EVOH		0.0	0.0	0.0	0.0	0.0	0.0	EVOH
CCG	0.0		0.32	-0.49	0.18	0.05	0.21	CCG
ASLE	0.0	0.32		-0.07	0.78	-0.42	0.77	ASLE
ZH	0.0	-0.49	-0.07		0.25	0.1	-0.22	ZH
NOW	0.0	0.18	0.78	0.25		-0.48	0.72	NOW
DINO	0.0	0.05	-0.42	0.1	-0.48		-0.84	DINO
ALK	0.0	0.21	0.77	-0.22	0.72	-0.84		ALK
	EVOH	CCG	ASLE	ZH	NOW	DINO	ALK

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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

NOW	+ 0.78	ASLE
ALK	+ 0.77	ASLE
ALK	+ 0.72	NOW
ASLE	+ 0.32	CCG
NOW	+ 0.25	ZH
ALK	+ 0.21	CCG

High negative correlations

ALK	- 0.84	DINO
ZH	- 0.49	CCG
DINO	- 0.48	NOW
DINO	- 0.42	ASLE
ALK	- 0.22	ZH
ZH	- 0.07	ASLE

Risk-Adjusted Indicators

There is a big difference between Eureka Stock performing well and Eureka 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 Eureka 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
EVOH	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
CCG	2.81	0.12	0.03	0.26	2.50	(4.39)	6.67	(4.44)	13.49
ASLE	1.79	0.37	0.13	1.61	1.94	(1.93)	4.14	(2.71)	12.13
ZH	2.12	(0.01)	(0.03)	0.01	2.28	(2.60)	3.86	(4.17)	20.39
NOW	1.41	0.32	0.17	0.70	1.34	(1.59)	2.61	(2.38)	11.04
DINO	1.47	(0.23)	0.00	(0.97)	0.00	0.00	2.85	(2.97)	10.71
ALK	1.73	0.72	0.42	(5.72)	1.03	(2.18)	4.05	(2.15)	15.67

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