Magic Empire Correlations

MEGL Stock

USD 0.53 0.03 6.00%

The current 90-days correlation between Magic Empire Global and Zhong Yang Financial is 0.44 (i.e., Very weak diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Magic Empire moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Magic Empire Global moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Magic Empire Correlation With Market

Average diversification

The correlation between Magic Empire Global and DJI is 0.1 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Magic Empire Global and DJI in the same portfolio, assuming nothing else is changed.

Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in Magic Empire Global. 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 Magic Stock

0.81

Lufax Holding

Pair Corr

Moving against Magic Stock

0.51	PT	Pintec Technology	Pair Corr
0.31	XP	Xp Inc	Pair Corr
0.52	TETEW	Technology Telecommunicatio	Pair Corr
0.49	BRACU	Broad Capital Acquisition	Pair Corr
0.43	PFTAU	Portage Fintech Acqu	Pair Corr
0.36	ECPG	Encore Capital Group	Pair Corr

Related Correlations Analysis

	GHL	NCPL	APLD	TCJH	TOP	SAI	AGBA	MFH	LAZ
GHL		-0.75	0.79	0.45	0.02	-0.68	-0.29	0.39	0.61	GHL
NCPL	-0.75		-0.76	-0.17	0.29	0.66	0.19	-0.19	-0.43	NCPL
APLD	0.79	-0.76		0.2	-0.23	-0.53	-0.39	0.4	0.49	APLD
TCJH	0.45	-0.17	0.2		-0.22	-0.54	-0.54	0.49	0.84	TCJH
TOP	0.02	0.29	-0.23	-0.22		0.17	0.41	-0.12	-0.32	TOP
SAI	-0.68	0.66	-0.53	-0.54	0.17		0.37	-0.4	-0.59	SAI
AGBA	-0.29	0.19	-0.39	-0.54	0.41	0.37		-0.79	-0.51	AGBA
MFH	0.39	-0.19	0.4	0.49	-0.12	-0.4	-0.79		0.54	MFH
LAZ	0.61	-0.43	0.49	0.84	-0.32	-0.59	-0.51	0.54		LAZ
	GHL	NCPL	APLD	TCJH	TOP	SAI	AGBA	MFH	LAZ

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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

LAZ	+ 0.84	TCJH
APLD	+ 0.79	GHL
SAI	+ 0.66	NCPL
LAZ	+ 0.61	GHL
LAZ	+ 0.54	MFH
LAZ	+ 0.49	APLD

High negative correlations

MFH	- 0.79	AGBA
APLD	- 0.76	NCPL
NCPL	- 0.75	GHL
SAI	- 0.68	GHL
LAZ	- 0.59	SAI
AGBA	- 0.54	TCJH

Risk-Adjusted Indicators

There is a big difference between Magic Stock performing well and Magic Empire 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 Magic Empire'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
GHL	4.22	1.84	0.40	(0.68)	1.89	(5.22)	5.75	(5.53)	117.24
NCPL	4.83	(0.90)	0.00	(0.44)	0.00	0.00	8.53	(13.88)	42.22
APLD	7.43	1.54	0.27	0.64	5.92	(9.16)	11.30	(8.85)	81.01
TCJH	6.67	0.81	0.10	0.82	6.24	(9.77)	21.43	(12.00)	44.06
TOP	4.83	(0.32)	0.00	(0.82)	0.00	0.00	8.90	(9.66)	76.38
SAI	4.38	(0.04)	0.00	0.16	0.00	0.00	10.81	(10.31)	48.34
AGBA	5.04	(0.64)	0.00	(0.54)	0.00	0.00	8.54	(9.64)	45.03
MFH	8.47	2.32	0.31	0.74	7.05	(12.24)	26.81	(9.35)	115.89
LAZ	1.63	0.01	0.11	0.13	1.37	(1.96)	3.95	(2.71)	18.37

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