Joint Stock Correlations

KSPI Stock

76.36 2.57 3.48%

The current 90-days correlation between Joint Stock and Klarna Group plc is 0.42 (i.e., Very weak diversification). The correlation of Joint Stock 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.

Joint Stock Correlation With Market

Poor diversification

The correlation between Joint Stock and DJI is 0.7 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Joint Stock and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Joint Stock

Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in Joint Stock. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in inflation.

For more detail on how to invest in Joint Stock please use our How to Invest in Joint Stock guide.

Moving together with Joint Stock

0.65	LC	LendingClub Corp	Pair Corr
0.67	ECPG	Encore Capital Group	Pair Corr
0.74	ENVA	Enova International	Pair Corr
0.7	BFH	Bread Financial Holdings	Pair Corr
0.76	COF	Capital One Financial Sell-off Trend	Pair Corr
0.69	NNI	Nelnet Inc	Pair Corr
0.83	OMF	OneMain Holdings	Pair Corr
0.66	SYF	Synchrony Financial	Pair Corr
0.7	CFX	Capital One Financial	Pair Corr

Moving against Joint Stock

0.71	ACD	Accord Financial Corp	Pair Corr
0.61	XYF	X Financial Class	Pair Corr
0.57	YRD	Yirendai	Pair Corr
0.57	JFIN	Jiayin Group	Pair Corr
0.53	LX	Lexinfintech Holdings Buyout Trend	Pair Corr
0.43	EPF	Everyday People Financial	Pair Corr
0.37	FINV	FinVolution Group Normal Trading	Pair Corr
0.57	OMCC	Old Market Capital	Pair Corr
0.48	PP3	FinVolution Group	Pair Corr
0.45	AFG	Australian Finance	Pair Corr
0.42	QSV	Edenred SA	Pair Corr
0.42	CFX1	CAPITAL ONE FIN	Pair Corr
0.38	QFIN	360 Finance	Pair Corr
0.37	AIHS	Senmiao Technology	Pair Corr

Related Correlations Analysis

	KLAR	OKTA	SAIL	RBRK	QXO	GEN	DT	DOCU	BSY	AKAM
KLAR		-0.01	0.77	0.67	-0.5	0.64	0.92	0.85	0.94	-0.64	KLAR
OKTA	-0.01		0.3	0.25	0.79	0.22	-0.11	0.04	-0.11	0.17	OKTA
SAIL	0.77	0.3		0.91	-0.17	0.92	0.82	0.91	0.65	-0.52	SAIL
RBRK	0.67	0.25	0.91		-0.14	0.86	0.75	0.82	0.58	-0.51	RBRK
QXO	-0.5	0.79	-0.17	-0.14		-0.15	-0.61	-0.42	-0.59	0.54	QXO
GEN	0.64	0.22	0.92	0.86	-0.15		0.74	0.86	0.54	-0.37	GEN
DT	0.92	-0.11	0.82	0.75	-0.61	0.74		0.92	0.9	-0.64	DT
DOCU	0.85	0.04	0.91	0.82	-0.42	0.86	0.92		0.79	-0.63	DOCU
BSY	0.94	-0.11	0.65	0.58	-0.59	0.54	0.9	0.79		-0.7	BSY
AKAM	-0.64	0.17	-0.52	-0.51	0.54	-0.37	-0.64	-0.63	-0.7		AKAM
	KLAR	OKTA	SAIL	RBRK	QXO	GEN	DT	DOCU	BSY	AKAM

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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

BSY	+ 0.94	KLAR
DT	+ 0.92	KLAR
GEN	+ 0.92	SAIL
DOCU	+ 0.92	DT
RBRK	+ 0.91	SAIL
DOCU	+ 0.91	SAIL

High negative correlations

AKAM	- 0.7	BSY
AKAM	- 0.64	DT
AKAM	- 0.64	KLAR
AKAM	- 0.63	DOCU
DT	- 0.61	QXO
BSY	- 0.59	QXO

Risk-Adjusted Indicators

There is a big difference between Joint Stock performing well and Joint Stock 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 Joint Stock'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
KLAR	2.73	(1.05)	0.00	(0.37)	0.00	0.00	4.76	(6.31)	13.05
OKTA	1.62	(0.08)	(0.02)	0.03	2.09	(1.77)	4.32	(3.27)	12.06
SAIL	2.39	(0.51)	0.00	(0.25)	0.00	0.00	3.80	(6.33)	12.91
RBRK	2.79	(0.51)	0.00	(0.24)	0.00	0.00	4.16	(6.76)	31.36
QXO	2.89	0.28	0.16	0.18	2.80	(3.72)	6.51	(4.84)	27.19
GEN	1.28	(0.18)	0.00	(0.05)	0.00	0.00	2.26	(3.59)	9.21
DT	1.66	(0.51)	0.00	(0.76)	0.00	0.00	2.62	(4.08)	13.36
DOCU	2.09	(0.66)	0.00	(0.54)	0.00	0.00	3.08	(5.19)	18.12
BSY	1.40	(0.62)	0.00	(0.48)	0.00	0.00	3.02	(3.68)	10.70
AKAM	1.92	0.34	0.18	0.39	1.66	(2.27)	4.04	(2.80)	19.72

Joint Stock Corporate Management

Kanat Aitenov	Head Network	Profile
David Ferguson	Head Relations	Profile
Mamuka Kirvalidze	Head Business	Profile
Yuri Didenko	Deputy Board	Profile
Oleg Bakhmutov	Head People	Profile
Arseniy Kochetkov	Head Services	Profile

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