Locafy Correlations

LCFY Stock

USD 3.15 0.02 0.63%

The current 90-days correlation between Locafy and Onfolio Holdings is 0.15 (i.e., Average diversification). The correlation of Locafy 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. If the correlation is 0, the equities are not correlated; they are entirely random.

Locafy Correlation With Market

Very good diversification

The correlation between Locafy and DJI is -0.4 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Locafy and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Locafy Stock

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

For more information on how to buy Locafy Stock please use our How to Invest in Locafy guide.

Moving together with Locafy Stock

0.62	WA7	Seven West Media	Pair Corr
0.76	WIMI	WiMi Hologram Cloud	Pair Corr
0.64	RDI	Reading International	Pair Corr
0.72	ZIN	Zinc Media Group	Pair Corr

Moving against Locafy Stock

0.52	SCG	Sporting Clube de	Pair Corr
0.48	AEO	Aeorema Communications	Pair Corr
0.5	M0W	SPORT LISBOA E	Pair Corr
0.5	D2V	PARKEN Sport Enterta	Pair Corr
0.39	NEB	VIAPLAY GROUP AB	Pair Corr
0.38	MSGM	Motorsport Gaming	Pair Corr

Related Correlations Analysis

	ONFO	XHLD	CMCM	LDWY	BAOS	UCL	KRKR	SLE	DRCT	PCLA
ONFO		0.64	0.56	0.29	-0.17	0.54	0.6	0.91	0.87	0.56	ONFO
XHLD	0.64		0.25	0.72	-0.23	0.44	0.47	0.57	0.75	0.27	XHLD
CMCM	0.56	0.25		-0.03	0.23	0.26	0.32	0.54	0.5	0.24	CMCM
LDWY	0.29	0.72	-0.03		-0.37	0.19	0.33	0.24	0.44	0.0	LDWY
BAOS	-0.17	-0.23	0.23	-0.37		-0.42	-0.26	-0.15	-0.31	-0.28	BAOS
UCL	0.54	0.44	0.26	0.19	-0.42		0.52	0.73	0.71	0.58	UCL
KRKR	0.6	0.47	0.32	0.33	-0.26	0.52		0.65	0.59	0.41	KRKR
SLE	0.91	0.57	0.54	0.24	-0.15	0.73	0.65		0.84	0.63	SLE
DRCT	0.87	0.75	0.5	0.44	-0.31	0.71	0.59	0.84		0.54	DRCT
PCLA	0.56	0.27	0.24	0.0	-0.28	0.58	0.41	0.63	0.54		PCLA
	ONFO	XHLD	CMCM	LDWY	BAOS	UCL	KRKR	SLE	DRCT	PCLA

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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

SLE	+ 0.91	ONFO
DRCT	+ 0.87	ONFO
DRCT	+ 0.84	SLE
DRCT	+ 0.75	XHLD
SLE	+ 0.73	UCL
LDWY	+ 0.72	XHLD

High negative correlations

UCL	- 0.42	BAOS
BAOS	- 0.37	LDWY
DRCT	- 0.31	BAOS
PCLA	- 0.28	BAOS
KRKR	- 0.26	BAOS
BAOS	- 0.23	XHLD

Risk-Adjusted Indicators

There is a big difference between Locafy Stock performing well and Locafy 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 Locafy'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
ONFO	4.28	(1.10)	0.00	(0.52)	0.00	0.00	10.61	(8.62)	34.12
XHLD	9.43	0.47	0.04	(6.46)	10.11	(11.99)	12.30	(18.75)	204.72
CMCM	2.88	(0.34)	0.00	(0.12)	0.00	0.00	7.02	(7.41)	35.79
LDWY	4.66	0.38	0.07	0.38	5.65	(5.97)	13.35	(11.89)	40.34
BAOS	4.17	0.13	0.03	0.24	4.17	(5.12)	8.01	(7.28)	45.92
UCL	3.43	(0.23)	0.00	0.56	0.00	0.00	7.27	(8.12)	26.62
KRKR	4.26	(0.07)	0.00	0.75	0.00	0.00	8.67	(8.51)	27.52
SLE	6.47	(1.46)	0.00	(1.19)	0.00	0.00	11.71	(13.71)	46.03
DRCT	9.23	(2.20)	0.00	0.95	0.00	0.00	12.80	(17.27)	95.20
PCLA	10.66	1.10	0.11	2.06	9.21	(17.71)	9.71	(17.06)	228.24

Locafy Corporate Management

Chris McDonald	Chief Officer	Profile
Xander Santos	Chief Architect	Profile
David Penner	Chief Officer	Profile
Sara Harris	Head Culture	Profile
Umair Ehsan	Head Development	Profile
Chris Kealley	Head Product	Profile

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