FingerMotion Correlations

FNGR Stock  USD 1.13  0.01  0.88%   
The current 90-days correlation between FingerMotion and IZEA Inc is 0.31 (i.e., Weak diversification). The correlation of FingerMotion 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.

FingerMotion Correlation With Market

Excellent diversification

The correlation between FingerMotion 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 FingerMotion 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 FingerMotion. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in census.
To learn how to invest in FingerMotion Stock, please use our How to Invest in FingerMotion guide.

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Related Correlations Analysis


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

CCGIZEA
TDIKORE
TZOOIZEA
TZOOCCG
ILLRCCG
NAMITZOO
  

High negative correlations

TDIIZEA
TDICCG
TDITZOO
KOREIZEA
CCGKORE
TZOOKORE

Risk-Adjusted Indicators

There is a big difference between FingerMotion Stock performing well and FingerMotion 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 FingerMotion'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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
IZEA  2.30 (0.56) 0.00 (0.47) 0.00 
 5.87 
 11.12 
KORE  2.20  0.19  0.06  0.46  2.53 
 5.45 
 17.91 
CCG  1.65 (0.29) 0.00 (2.19) 0.00 
 4.26 
 10.03 
ILLR  16.29  2.95  0.14  0.47  20.01 
 36.59 
 215.00 
MCHX  1.49 (0.11) 0.00 (0.11) 0.00 
 2.52 
 14.87 
TZOO  1.92 (0.57) 0.00 (0.40) 0.00 
 4.46 
 11.62 
TDI  0.70  0.17  0.15  0.27  0.68 
 1.55 
 4.46 
SEAT  3.83 (0.71) 0.00 (0.51) 0.00 
 6.61 
 22.35 
CDLX  4.54 (0.61) 0.00 (0.27) 0.00 
 10.71 
 25.07 
NAMI  5.35 (0.48) 0.00 (0.12) 0.00 
 11.86 
 57.29