Freight Technologies Correlations

FRGT Stock

USD 1.18 0.01 0.84%

The current 90-days correlation between Freight Technologies and Auddia Inc is -0.04 (i.e., Good diversification). The correlation of Freight Technologies 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.

Freight Technologies Correlation With Market

Pay attention - limited upside

The correlation between Freight Technologies and DJI is -0.8 (i.e., Pay attention - limited upside) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Freight Technologies and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Freight Stock

Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in Freight Technologies. 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 more information on how to buy Freight Stock please use our How to Invest in Freight Technologies guide.

Moving together with Freight Stock

0.84	DT	Dynatrace Holdings LLC	Pair Corr
0.8	PD	Pagerduty	Pair Corr
0.92	DOMO	Domo Inc	Pair Corr
0.67	ESTC	Elastic NV	Pair Corr
0.7	BMR	Beamr Imaging	Pair Corr
0.83	TTD	Trade Desk	Pair Corr
0.67	HUBS	HubSpot	Pair Corr
0.62	INTU	Intuit Inc	Pair Corr
0.94	LPSN	LivePerson	Pair Corr
0.83	MNDY	MondayCom Earnings Call This Week	Pair Corr
0.78	PAYC	Paycom Software Earnings Call This Week	Pair Corr
0.81	PHUN	Phunware	Pair Corr
0.71	ADSK	Autodesk	Pair Corr
0.82	DDOG	Datadog Earnings Call This Week	Pair Corr

Moving against Freight Stock

0.87	ASUR	Asure Software	Pair Corr
0.84	SLF	Sun Life Financial Earnings Call This Week	Pair Corr
0.89	MRK	Merck Company Aggressive Push	Pair Corr
0.86	BA	Boeing	Pair Corr
0.85	JNJ	Johnson Johnson	Pair Corr
0.78	XOM	Exxon Mobil Corp Aggressive Push	Pair Corr
0.76	CAT	Caterpillar	Pair Corr
0.68	CVX	Chevron Corp	Pair Corr
0.64	GLUC	Glucose Health	Pair Corr
0.6	PFE	Pfizer Inc Aggressive Push	Pair Corr
0.59	INTC	Intel	Pair Corr
0.45	KO	Coca Cola Aggressive Push	Pair Corr
0.4	DIS	Walt Disney	Pair Corr
0.39	GE	GE Aerospace	Pair Corr
0.39	CSCO	Cisco Systems Earnings Call This Week	Pair Corr
0.34	BAC	Bank of America Aggressive Push	Pair Corr

Related Correlations Analysis

	MAPS	TGL	AUUD	TAOP	WLDS	MYSZ	WALD	OLB	TRUG	COE
MAPS		0.32	0.6	0.4	0.48	0.61	-0.11	0.58	0.54	0.48	MAPS
TGL	0.32		0.62	0.73	0.82	0.7	0.32	0.7	0.81	0.82	TGL
AUUD	0.6	0.62		0.57	0.69	0.78	-0.1	0.62	0.76	0.6	AUUD
TAOP	0.4	0.73	0.57		0.83	0.67	0.54	0.86	0.74	0.83	TAOP
WLDS	0.48	0.82	0.69	0.83		0.74	0.48	0.88	0.85	0.93	WLDS
MYSZ	0.61	0.7	0.78	0.67	0.74		0.02	0.67	0.87	0.71	MYSZ
WALD	-0.11	0.32	-0.1	0.54	0.48	0.02		0.57	0.17	0.52	WALD
OLB	0.58	0.7	0.62	0.86	0.88	0.67	0.57		0.74	0.85	OLB
TRUG	0.54	0.81	0.76	0.74	0.85	0.87	0.17	0.74		0.87	TRUG
COE	0.48	0.82	0.6	0.83	0.93	0.71	0.52	0.85	0.87		COE
	MAPS	TGL	AUUD	TAOP	WLDS	MYSZ	WALD	OLB	TRUG	COE

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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

COE	+ 0.93	WLDS
OLB	+ 0.88	WLDS
TRUG	+ 0.87	MYSZ
COE	+ 0.87	TRUG
OLB	+ 0.86	TAOP
TRUG	+ 0.85	WLDS

High negative correlations

WALD	- 0.11	MAPS
WALD	- 0.1	AUUD

Risk-Adjusted Indicators

There is a big difference between Freight Stock performing well and Freight Technologies 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 Freight Technologies' 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
MAPS	2.91	(0.59)	0.00	(0.46)	0.00	0.00	4.49	(5.68)	25.13
TGL	12.14	0.62	0.05	0.41	12.41	(19.74)	12.67	(22.25)	316.34
AUUD	4.33	(0.64)	0.00	30.47	0.00	0.00	15.15	(11.11)	36.34
TAOP	5.21	(0.60)	0.00	(0.97)	0.00	0.00	11.43	(9.57)	51.37
WLDS	4.58	(1.58)	0.00	(0.40)	0.00	0.00	10.47	(9.27)	53.88
MYSZ	4.12	(0.86)	0.00	(0.51)	0.00	0.00	11.39	(10.14)	26.97
WALD	3.98	0.10	0.01	(0.18)	4.38	(4.78)	10.14	(8.06)	33.33
OLB	4.90	(1.11)	0.00	(0.32)	0.00	0.00	10.53	(11.01)	51.07
TRUG	7.09	(1.23)	0.00	(0.90)	0.00	0.00	18.75	(12.11)	51.36
COE	2.46	(0.84)	0.00	(40.40)	0.00	0.00	3.97	(10.46)	23.58

Freight Technologies Corporate Management

Javier Selgas	CEO Director	Profile
Luisa Lopez	Chief Officer	Profile
Donald Quinby	Chief Officer	Profile
Luisa Reyes	Chief Officer	Profile
Mike Flinker	President	Profile

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