Iveda Solutions Correlations

IVDA Stock

USD 0.33 0.01 1.68%

The current 90-days correlation between Iveda Solutions and Digital Ally is -0.22 (i.e., Very good diversification). The correlation of Iveda Solutions 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.

Iveda Solutions Correlation With Market

Very good diversification

The correlation between Iveda Solutions and DJI is -0.33 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Iveda Solutions and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Iveda Stock

Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in Iveda Solutions. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in small area income & poverty estimates.

For information on how to trade Iveda Stock refer to our How to Trade Iveda Stock guide.

Moving together with Iveda Stock

0.74	AI	C3 Ai Inc	Pair Corr
0.65	VRNS	Varonis Systems Tech Boost	Pair Corr
0.64	ANY	Sphere 3D Corp	Pair Corr
0.61	FROG	Jfrog	Pair Corr
0.66	NOW	ServiceNow	Pair Corr
0.81	PGY	Pagaya Technologies	Pair Corr
0.8	RPD	Rapid7 Inc	Pair Corr
0.64	INTZ	Intrusion	Pair Corr
0.67	LSPD	Lightspeed Commerce	Pair Corr
0.65	MSFT	Microsoft Sell-off Trend	Pair Corr
0.68	NABL	N Able Inc Earnings Call This Week	Pair Corr
0.64	OSPN	OneSpan	Pair Corr
0.66	PATH	Uipath Inc	Pair Corr
0.68	PLTR	Palantir Technologies	Pair Corr
0.76	QLYS	Qualys Inc	Pair Corr
0.65	RBRK	Rubrik	Pair Corr

Moving against Iveda Stock

0.5	GROV	Virgin Group Acquisition	Pair Corr
0.37	OS	OneStream Class A Sell-off Trend	Pair Corr
0.74	SHG	Shinhan Financial	Pair Corr
0.63	ATEN	A10 Network	Pair Corr
0.31	AVAL	Grupo Aval	Pair Corr

Related Correlations Analysis

	DGLY	CIGL	BKYI	SBLX	BAER	ICON	PMAX	CLIK	ELOG	VCIG
DGLY		0.01	0.76	0.44	-0.75	0.9	-0.28	0.85	0.88	0.75	DGLY
CIGL	0.01		0.19	0.08	0.35	-0.07	0.46	-0.19	0.02	0.04	CIGL
BKYI	0.76	0.19		0.15	-0.36	0.73	-0.24	0.61	0.75	0.7	BKYI
SBLX	0.44	0.08	0.15		-0.46	0.49	0.08	0.45	0.53	0.52	SBLX
BAER	-0.75	0.35	-0.36	-0.46		-0.74	0.35	-0.74	-0.65	-0.51	BAER
ICON	0.9	-0.07	0.73	0.49	-0.74		-0.39	0.85	0.87	0.87	ICON
PMAX	-0.28	0.46	-0.24	0.08	0.35	-0.39		-0.38	-0.23	-0.33	PMAX
CLIK	0.85	-0.19	0.61	0.45	-0.74	0.85	-0.38		0.82	0.75	CLIK
ELOG	0.88	0.02	0.75	0.53	-0.65	0.87	-0.23	0.82		0.88	ELOG
VCIG	0.75	0.04	0.7	0.52	-0.51	0.87	-0.33	0.75	0.88		VCIG
	DGLY	CIGL	BKYI	SBLX	BAER	ICON	PMAX	CLIK	ELOG	VCIG

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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

ICON	+ 0.9	DGLY
ELOG	+ 0.88	DGLY
VCIG	+ 0.88	ELOG
ELOG	+ 0.87	ICON
VCIG	+ 0.87	ICON
CLIK	+ 0.85	DGLY

High negative correlations

BAER	- 0.75	DGLY
CLIK	- 0.74	BAER
ICON	- 0.74	BAER
ELOG	- 0.65	BAER
VCIG	- 0.51	BAER
BAER	- 0.46	SBLX

Risk-Adjusted Indicators

There is a big difference between Iveda Stock performing well and Iveda Solutions 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 Iveda Solutions' 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
DGLY	5.98	(1.44)	0.00	0.82	0.00	0.00	15.42	(14.93)	45.61
CIGL	5.79	(0.47)	0.00	(0.06)	0.00	0.00	14.55	(12.09)	45.73
BKYI	4.31	(0.30)	0.00	(1.09)	0.00	0.00	9.26	(8.22)	43.12
SBLX	5.04	(0.59)	0.00	(0.07)	0.00	0.00	10.26	(13.00)	32.50
BAER	3.63	0.66	0.19	0.70	2.78	(5.13)	10.84	(5.24)	22.79
ICON	5.40	(1.89)	0.00	(2.17)	0.00	0.00	14.00	(14.29)	44.34
PMAX	6.57	0.44	0.07	0.24	7.08	(7.58)	12.97	(13.19)	50.37
CLIK	3.84	(0.80)	0.00	0.63	0.00	0.00	12.83	(7.88)	44.45
ELOG	4.89	(1.02)	0.00	(0.80)	0.00	0.00	7.41	(11.11)	39.40
VCIG	8.38	(1.96)	0.00	(1.09)	0.00	0.00	23.16	(17.14)	55.29

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