HIVE Digital Correlations

HIVE Stock

USD 2.79 0.04 1.45%

The current 90-days correlation between HIVE Digital Technologies and Bank First National is 0.1 (i.e., Average diversification). The correlation of HIVE Digital 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.

HIVE Digital Correlation With Market

Very good diversification

The correlation between HIVE Digital Technologies and DJI is -0.32 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding HIVE Digital Technologies and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with HIVE Stock

Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in HIVE Digital 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 manufacturing.

Moving together with HIVE Stock

0.83	GIG	GigCapital7 Corp Class	Pair Corr
0.73	PNNT	PennantPark Investment	Pair Corr
0.7	GBHPF	Global Hemp Group	Pair Corr
0.75	ATMV	ATMV Old Symbol Change	Pair Corr
0.76	MMC	MMC Old Symbol Change	Pair Corr

Moving against HIVE Stock

0.74	GLAD	Gladstone Capital	Pair Corr
0.73	CION	Cion Investment Corp	Pair Corr
0.59	SOR	Source Capital Closed	Pair Corr
0.54	GAM	General American Inv	Pair Corr
0.54	AGF-B	AGF Management	Pair Corr
0.4	HQL	Tekla Life Sciences	Pair Corr
0.7	IRNRF	Iron Road Limited	Pair Corr
0.62	GSTX	Graphene Solar Techn	Pair Corr
0.58	FNCHF	FINEOSHoldings Plc	Pair Corr
0.55	ADHI	Arsenal Digital Holdings	Pair Corr
0.55	KGC	Kinross Gold	Pair Corr
0.52	AXIA	AXIA Energia Symbol Change	Pair Corr
0.52	ACN	Accenture plc	Pair Corr
0.4	ARRJF	Arjo AB	Pair Corr

Related Correlations Analysis

	BFC	CNOB	OCSL	BY	LU	PRA	WABC	QCRH	FSCO
BFC		0.76	-0.25	0.77	-0.05	0.55	0.69	0.75	-0.13	BFC
CNOB	0.76		-0.56	0.98	-0.28	0.59	0.86	0.96	-0.03	CNOB
OCSL	-0.25	-0.56		-0.62	0.48	-0.47	-0.46	-0.58	-0.01	OCSL
BY	0.77	0.98	-0.62		-0.26	0.67	0.86	0.95	0.05	BY
LU	-0.05	-0.28	0.48	-0.26		-0.04	-0.11	-0.4	0.38	LU
PRA	0.55	0.59	-0.47	0.67	-0.04		0.66	0.52	0.14	PRA
WABC	0.69	0.86	-0.46	0.86	-0.11	0.66		0.8	0.08	WABC
QCRH	0.75	0.96	-0.58	0.95	-0.4	0.52	0.8		-0.08	QCRH
FSCO	-0.13	-0.03	-0.01	0.05	0.38	0.14	0.08	-0.08		FSCO
	BFC	CNOB	OCSL	BY	LU	PRA	WABC	QCRH	FSCO

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

BY	+ 0.98	CNOB
QCRH	+ 0.96	CNOB
QCRH	+ 0.95	BY
WABC	+ 0.86	CNOB
WABC	+ 0.86	BY
QCRH	+ 0.8	WABC

High negative correlations

BY	- 0.62	OCSL
QCRH	- 0.58	OCSL
OCSL	- 0.56	CNOB
PRA	- 0.47	OCSL
WABC	- 0.46	OCSL
QCRH	- 0.4	LU

Risk-Adjusted Indicators

There is a big difference between HIVE Stock performing well and HIVE Digital 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 HIVE Digital'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
BFC	1.27	0.07	0.05	0.10	1.36	(1.51)	3.17	(2.26)	7.45
CNOB	1.18	0.17	0.13	0.42	1.00	(1.44)	3.61	(1.83)	9.27
OCSL	0.83	(0.15)	0.00	(0.47)	0.00	0.00	1.50	(1.95)	4.91
BY	1.13	0.18	0.11	0.64	1.17	(1.29)	2.74	(2.40)	7.43
LU	1.90	(0.29)	0.00	(0.36)	0.00	0.00	3.49	(4.31)	16.24
PRA	0.18	0.00	(0.15)	(0.11)	0.20	(0.22)	0.38	(0.41)	1.04
WABC	1.06	0.06	0.03	0.16	1.16	(1.25)	2.97	(1.77)	7.62
QCRH	1.13	0.24	0.16	0.72	1.15	(1.27)	2.83	(1.74)	8.45
FSCO	1.06	(0.10)	0.00	(0.13)	0.00	0.00	1.95	(2.54)	6.58

HIVE Digital Corporate Management

Johanna Thornblad	Country Sweden	Profile
Darcy Daubaras	Chief Officer	Profile
William Gray	Chief Officer	Profile
Mario Sergi	Chief Officer	Profile

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