NFT Correlations

MI Stock

5.39 0.13 2.47%

The current 90-days correlation between NFT Limited and Alta Global Group is 0.24 (i.e., Modest diversification). The correlation of NFT 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.

NFT Correlation With Market

Very weak diversification

The correlation between NFT Limited and DJI is 0.54 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding NFT Limited and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with NFT Stock

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

Moving against NFT Stock

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0.76	IT	Gartner	Pair Corr
0.73	IL8	IT Link SA	Pair Corr
0.66	SOP	Sopra Steria Group	Pair Corr
0.64	CVB	Computer And Technologies	Pair Corr
0.63	AN3	Alten SA	Pair Corr
0.61	RZC	CAICA Inc	Pair Corr
0.52	7XT	XTM INC	Pair Corr
0.5	CD	Chaince Digital Holdings Symbol Change	Pair Corr
0.44	DVLT	Datavault AI	Pair Corr
0.37	MKL	Atea ASA	Pair Corr
0.34	DUG	DUG Technology	Pair Corr
0.85	7XU	KYNDRYL HLDGS INC	Pair Corr
0.74	EPAM	EPAM Systems	Pair Corr
0.66	NCR1	NCR Corporation	Pair Corr
0.61	HCI	HC Group	Pair Corr
0.58	OBS	Orbis AG	Pair Corr
0.56	DIN	Digital China Holdings	Pair Corr
0.52	ETHZ	ETHZilla Symbol Change	Pair Corr
0.5	CDW	CDW Corporation	Pair Corr
0.46	KUD	Kudelski	Pair Corr
0.45	FIGR	Figure Technology Upward Rally	Pair Corr
0.83	GIB	CGI Inc	Pair Corr
0.81	LHV	ExlService Holdings	Pair Corr
0.81	IBM	International Business	Pair Corr
0.79	CGMA	CAPGEMINI UNSADR 15EO8	Pair Corr
0.78	ALYA	Alithya Group inc	Pair Corr
0.77	NR7	Nomura Research Institute	Pair Corr

Related Correlations Analysis

	MOGU	MMA	SBDS	LGCB	PSPX	CGTL	BGI	EVGO	MGIH	JBDI
MOGU		0.09	0.49	0.39	0.0	-0.36	0.2	0.02	0.06	0.73	MOGU
MMA	0.09		0.37	0.74	0.0	-0.71	0.78	0.67	-0.48	0.2	MMA
SBDS	0.49	0.37		0.55	0.0	-0.45	0.5	0.39	0.11	0.34	SBDS
LGCB	0.39	0.74	0.55		0.0	-0.89	0.57	0.38	-0.52	0.31	LGCB
PSPX	0.0	0.0	0.0	0.0		0.0	0.0	0.0	0.0	0.0	PSPX
CGTL	-0.36	-0.71	-0.45	-0.89	0.0		-0.42	-0.35	0.59	-0.22	CGTL
BGI	0.2	0.78	0.5	0.57	0.0	-0.42		0.64	-0.11	0.32	BGI
EVGO	0.02	0.67	0.39	0.38	0.0	-0.35	0.64		-0.07	0.27	EVGO
MGIH	0.06	-0.48	0.11	-0.52	0.0	0.59	-0.11	-0.07		-0.07	MGIH
JBDI	0.73	0.2	0.34	0.31	0.0	-0.22	0.32	0.27	-0.07		JBDI
	MOGU	MMA	SBDS	LGCB	PSPX	CGTL	BGI	EVGO	MGIH	JBDI

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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

BGI	+ 0.78	MMA
LGCB	+ 0.74	MMA
JBDI	+ 0.73	MOGU
EVGO	+ 0.67	MMA
EVGO	+ 0.64	BGI
MGIH	+ 0.59	CGTL

High negative correlations

CGTL	- 0.89	LGCB
CGTL	- 0.71	MMA
MGIH	- 0.52	LGCB
MGIH	- 0.48	MMA
CGTL	- 0.45	SBDS
BGI	- 0.42	CGTL

Risk-Adjusted Indicators

There is a big difference between NFT Stock performing well and NFT 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 NFT'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
MOGU	3.04	(0.07)	0.00	(0.02)	0.00	0.00	6.84	(5.81)	32.31
MMA	4.15	(0.74)	0.00	(0.72)	0.00	0.00	11.02	(8.24)	23.43
SBDS	6.73	0.06	0.02	0.09	8.13	(7.22)	19.41	(12.70)	64.32
LGCB	3.41	(0.25)	0.00	(1.34)	0.00	0.00	5.26	(7.34)	19.48
PSPX	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
CGTL	12.43	2.43	0.20	0.68	11.54	(15.77)	31.58	(20.26)	149.32
BGI	2.97	(0.64)	0.00	(0.48)	0.00	0.00	6.52	(6.67)	27.29
EVGO	2.53	(0.15)	(0.02)	0.00	3.01	(2.88)	5.84	(4.78)	18.87
MGIH	3.97	0.30	0.05	1.11	4.32	(5.37)	9.93	(6.54)	42.24
JBDI	4.97	(0.08)	0.00	(0.10)	0.00	0.00	12.20	(9.41)	42.88

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