Kestrel Correlations

KG Stock

9.40 0.84 8.20%

The current 90-days correlation between Kestrel Group and Bridgford Foods is 0.04 (i.e., Significant diversification). The correlation of Kestrel 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.

Kestrel Correlation With Market

Good diversification

The correlation between Kestrel Group and DJI is -0.03 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Kestrel Group and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Kestrel Stock

Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in Kestrel Group. 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.

Moving together with Kestrel Stock

0.85	NXS	Next Science	Pair Corr
0.68	CRDL	Cardiol Therapeutics	Pair Corr
0.78	HCM	HUTCHMED China	Pair Corr
0.62	688321	Shenzhen Chipscreen	Pair Corr
0.68	603676	Tibet Weixinkang Medicine	Pair Corr
0.71	600381	Qinghai Spring Medicinal	Pair Corr
0.84	600129	Chongqing Taiji Industry	Pair Corr
0.76	002287	Tibet Cheezheng Tibetan	Pair Corr
0.67	300725	PharmaBlock Sciences	Pair Corr
0.69	ELTX	Elicio Therapeutics	Pair Corr
0.85	ETON	Eton Pharmaceuticals	Pair Corr
0.85	BGM	Qilian International	Pair Corr

Moving against Kestrel Stock

0.53	VM	Voyageur Pharmaceuticals	Pair Corr
0.52	PFE	Pfizer Inc CDR	Pair Corr
0.46	600080	Ginwa Enterprise	Pair Corr
0.84	300086	Hainan Honz Pharmace	Pair Corr
0.79	VRCA	Verrica Pharmaceuticals	Pair Corr
0.72	VTRS	Viatris Aggressive Push	Pair Corr
0.7	300255	Hebei Changshan Biochem	Pair Corr
0.63	TLRY	Tilray Inc Earnings Call This Week	Pair Corr
0.61	VTYX	Ventyx Biosciences	Pair Corr
0.51	EOLS	Evolus Inc	Pair Corr
0.47	ELAN	Elanco Animal Health	Pair Corr
0.31	600624	Shanghai Fudan Forward	Pair Corr
0.82	EVOK	Evoke Pharma Sell-off Trend	Pair Corr
0.8	BMY	Bristol Myers Squibb	Pair Corr
0.69	EYPT	Eyepoint Pharmaceuticals	Pair Corr
0.59	AZN	AstraZeneca PLC ADR	Pair Corr
0.59	BHC	Bausch Health Companies	Pair Corr
0.58	301201	ChengDa Pharmaceuticals	Pair Corr

Related Correlations Analysis

	DLAPQ	ALFDF	ZM	BGS	SRRTF	BRID	OGOFF	FIFG
DLAPQ		-1.0	0.0	0.0	0.0	0.0	0.0	1.0	DLAPQ
ALFDF	-1.0		0.0	0.0	0.0	0.0	0.0	-1.0	ALFDF
ZM	0.0	0.0		0.35	0.54	0.11	0.51	0.0	ZM
BGS	0.0	0.0	0.35		0.44	-0.06	0.35	0.0	BGS
SRRTF	0.0	0.0	0.54	0.44		0.05	0.66	0.0	SRRTF
BRID	0.0	0.0	0.11	-0.06	0.05		-0.06	0.0	BRID
OGOFF	0.0	0.0	0.51	0.35	0.66	-0.06		0.0	OGOFF
FIFG	1.0	-1.0	0.0	0.0	0.0	0.0	0.0		FIFG
	DLAPQ	ALFDF	ZM	BGS	SRRTF	BRID	OGOFF	FIFG

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

FIFG	+ 1.0	DLAPQ
OGOFF	+ 0.66	SRRTF
SRRTF	+ 0.54	ZM
OGOFF	+ 0.51	ZM
SRRTF	+ 0.44	BGS
BGS	+ 0.35	ZM

High negative correlations

FIFG	- 1.0	ALFDF
ALFDF	- 1.0	DLAPQ
OGOFF	- 0.06	BRID
BRID	- 0.06	BGS
FIFG	- 0.0	OGOFF
FIFG	- 0.0	BRID

Risk-Adjusted Indicators

There is a big difference between Kestrel Stock performing well and Kestrel 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 Kestrel'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
DLAPQ	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
ALFDF	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
ZM	1.39	(0.04)	(0.02)	0.02	1.82	(1.34)	2.49	(2.93)	13.18
BGS	2.09	0.05	(0.01)	(0.24)	2.25	(2.61)	3.83	(3.50)	31.62
SRRTF	0.65	0.09	0.08	0.25	0.61	(0.78)	1.26	(1.30)	4.53
BRID	2.30	0.09	0.02	0.32	2.84	(2.49)	5.13	(4.26)	14.75
OGOFF	2.65	0.51	0.09	1.38	2.91	(4.92)	6.82	(8.70)	20.33
FIFG	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00

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