Mint Incorporation Correlations

MIMI Stock

5.76 0.20 3.60%

The current 90-days correlation between Mint Incorporation and Neogen is 0.08 (i.e., Significant diversification). The correlation of Mint Incorporation 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.

Mint Incorporation Correlation With Market

Significant diversification

The correlation between Mint Incorp. Limited and DJI is 0.07 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Mint Incorp. Limited 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 Mint Incorporation 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 population.

Moving against Mint Stock

0.5	EGAN	eGain Earnings Call This Week	Pair Corr
0.37	EZFL	EzFill Holdings	Pair Corr

Related Correlations Analysis

	NEOG	RYAAY	DKL	GZITF	ANRO	EDTK	RDNT	REGN
NEOG		0.05	-0.75	-0.27	0.03	-0.34	0.5	0.7	NEOG
RYAAY	0.05		-0.17	-0.02	-0.16	-0.49	0.05	0.17	RYAAY
DKL	-0.75	-0.17		0.48	0.47	0.51	-0.55	-0.83	DKL
GZITF	-0.27	-0.02	0.48		0.24	0.14	0.31	-0.75	GZITF
ANRO	0.03	-0.16	0.47	0.24		0.36	-0.08	-0.26	ANRO
EDTK	-0.34	-0.49	0.51	0.14	0.36		-0.29	-0.32	EDTK
RDNT	0.5	0.05	-0.55	0.31	-0.08	-0.29		0.17	RDNT
REGN	0.7	0.17	-0.83	-0.75	-0.26	-0.32	0.17		REGN
	NEOG	RYAAY	DKL	GZITF	ANRO	EDTK	RDNT	REGN

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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

REGN	+ 0.7	NEOG
EDTK	+ 0.51	DKL
RDNT	+ 0.5	NEOG
GZITF	+ 0.48	DKL
ANRO	+ 0.47	DKL
EDTK	+ 0.36	ANRO

High negative correlations

REGN	- 0.83	DKL
REGN	- 0.75	GZITF
DKL	- 0.75	NEOG
RDNT	- 0.55	DKL
EDTK	- 0.49	RYAAY
EDTK	- 0.34	NEOG

Risk-Adjusted Indicators

There is a big difference between Mint Stock performing well and Mint Incorporation 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 Mint Incorporation'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
NEOG	2.20	(0.28)	0.00	(0.58)	0.00	0.00	3.92	(5.43)	11.56
RYAAY	1.58	0.05	0.01	0.19	1.75	(1.72)	4.29	(3.09)	8.97
DKL	0.82	0.19	0.14	0.92	0.71	(0.92)	1.86	(1.51)	4.78
GZITF	0.84	0.28	0.00	0.20	0.00	0.00	0.00	0.00	26.67
ANRO	3.56	0.05	0.00	0.71	3.82	(3.98)	8.07	(6.25)	21.33
EDTK	2.92	0.06	0.00	0.62	3.17	(3.52)	7.22	(5.61)	14.88
RDNT	2.02	0.02	(0.02)	(0.27)	2.28	(2.41)	3.09	(3.69)	25.05
REGN	1.39	(0.50)	0.00	(2.41)	0.00	0.00	1.96	(3.63)	9.17

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