Forward Industries Correlations

FWDI Etf

USD 7.14 0.68 8.70%

The current 90-days correlation between Forward Industries and High Roller Technologies is 0.3 (i.e., Weak diversification). The correlation of Forward Industries 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.

Forward Industries Correlation With Market

Very good diversification

The correlation between Forward Industries and DJI is -0.26 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Forward Industries and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Forward Etf

Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in Forward Industries. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in small area income & poverty estimates.

For more detail on how to invest in Forward Etf please use our How to Invest in Forward Industries guide.

Moving together with Forward Etf

0.69	XAR	Xaar plc	Pair Corr
0.74	603019	Dawning Information	Pair Corr
0.64	HPQ	HP Inc	Pair Corr
0.87	XRX	Xerox Corp	Pair Corr
0.73	IONQ	IONQ Inc	Pair Corr
0.63	600355	Routon Electronic	Pair Corr
0.81	PSTG	Pure Storage	Pair Corr
0.69	QMCO	Quantum	Pair Corr

Moving against Forward Etf

0.6	KODK	Eastman Kodak	Pair Corr
0.48	WDC	Western Digital Earnings Call This Week	Pair Corr
0.43	OSS	One Stop Systems	Pair Corr
0.41	STX	Seagate Technology PLC Earnings Call Tomorrow	Pair Corr
0.36	SCKT	Socket Mobile Tech Boost	Pair Corr
0.31	SNDK	Sandisk Corp Earnings Call This Week	Pair Corr

Related Correlations Analysis

	ROLR	ARKR	BGI	SBDS	JBDI	MGIH	MOGU	AIIO	EVGO	MI
ROLR		-0.28	-0.17	-0.21	-0.4	0.06	-0.58	-0.41	-0.12	0.14	ROLR
ARKR	-0.28		0.65	0.31	0.33	0.22	0.47	0.55	-0.02	-0.4	ARKR
BGI	-0.17	0.65		0.77	0.76	0.64	0.77	0.86	0.5	-0.35	BGI
SBDS	-0.21	0.31	0.77		0.85	0.78	0.68	0.66	0.74	-0.14	SBDS
JBDI	-0.4	0.33	0.76	0.85		0.69	0.85	0.75	0.7	-0.23	JBDI
MGIH	0.06	0.22	0.64	0.78	0.69		0.47	0.48	0.7	-0.11	MGIH
MOGU	-0.58	0.47	0.77	0.68	0.85	0.47		0.84	0.53	-0.2	MOGU
AIIO	-0.41	0.55	0.86	0.66	0.75	0.48	0.84		0.47	-0.38	AIIO
EVGO	-0.12	-0.02	0.5	0.74	0.7	0.7	0.53	0.47		0.35	EVGO
MI	0.14	-0.4	-0.35	-0.14	-0.23	-0.11	-0.2	-0.38	0.35		MI
	ROLR	ARKR	BGI	SBDS	JBDI	MGIH	MOGU	AIIO	EVGO	MI

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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

AIIO	+ 0.86	BGI
JBDI	+ 0.85	SBDS
MOGU	+ 0.85	JBDI
AIIO	+ 0.84	MOGU
MGIH	+ 0.78	SBDS
SBDS	+ 0.77	BGI

High negative correlations

MOGU	- 0.58	ROLR
AIIO	- 0.41	ROLR
MI	- 0.4	ARKR
JBDI	- 0.4	ROLR
MI	- 0.38	AIIO
MI	- 0.35	BGI

Forward Industries Constituents Risk-Adjusted Indicators

There is a big difference between Forward Etf performing well and Forward Industries ETF 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 Forward Industries' 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
ROLR	17.80	6.97	0.52	(0.91)	9.95	(27.23)	17.33	(17.49)	472.27
ARKR	1.56	(0.20)	0.00	1.02	0.00	0.00	2.91	(5.82)	10.58
BGI	1.98	(0.36)	0.00	16.98	0.00	0.00	3.33	(4.12)	27.29
SBDS	6.88	(0.23)	0.00	(0.17)	0.00	0.00	14.90	(14.61)	50.66
JBDI	4.22	(0.99)	0.00	(2.32)	0.00	0.00	10.84	(9.41)	24.94
MGIH	3.94	(0.17)	0.00	9.89	0.00	0.00	9.52	(8.55)	42.24
MOGU	2.75	(0.74)	0.00	(0.70)	0.00	0.00	5.36	(5.81)	22.31
AIIO	6.69	(1.71)	0.00	(1.31)	0.00	0.00	8.62	(15.79)	75.86
EVGO	2.56	(0.38)	0.00	0.95	0.00	0.00	5.77	(5.03)	16.24
MI	2.20	0.05	0.01	0.12	3.21	(2.66)	6.50	(6.90)	23.69

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