Mind Technology Correlations

MIND Stock

USD 8.50 0.11 1.31%

The current 90-days correlation between Mind Technology and Gauzy Ltd Ordinary is -0.02 (i.e., Good diversification). The correlation of Mind Technology 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.

Mind Technology Correlation With Market

Very good diversification

The correlation between Mind Technology and DJI is -0.23 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Mind Technology and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Mind Stock

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

For information on how to trade Mind Stock refer to our How to Trade Mind Stock guide.

Moving against Mind Stock

0.46	CEU	CES Energy Solutions	Pair Corr
0.43	TWZ	Trican Well Service Earnings Call This Week	Pair Corr
0.38	FET	Forum Energy Technologies Earnings Call This Week	Pair Corr
0.36	WFRD	Weatherford International	Pair Corr
0.33	FLOC	Flowco Holdings	Pair Corr
0.6	1SD	Smart Sand	Pair Corr
0.55	SND	Smart Sand	Pair Corr
0.53	NGS	Natural Gas Services	Pair Corr
0.51	GIFI	Gulf Island Fabrication	Pair Corr
0.4	KGS	Kodiak Gas Services	Pair Corr
0.38	SHLE	Source Energy Services	Pair Corr

Related Correlations Analysis

	GAUZ	OPTX	SLNH	GNSS	LINK	VELO	SILC	CMTL	PSQH	INVE
GAUZ		-0.46	0.67	0.5	0.8	-0.64	-0.33	-0.59	0.8	0.42	GAUZ
OPTX	-0.46		-0.7	-0.72	-0.5	0.52	0.89	0.8	-0.8	-0.36	OPTX
SLNH	0.67	-0.7		0.74	0.76	-0.31	-0.65	-0.55	0.89	0.53	SLNH
GNSS	0.5	-0.72	0.74		0.61	-0.22	-0.72	-0.48	0.73	0.48	GNSS
LINK	0.8	-0.5	0.76	0.61		-0.29	-0.52	-0.38	0.76	0.5	LINK
VELO	-0.64	0.52	-0.31	-0.22	-0.29		0.2	0.84	-0.6	-0.06	VELO
SILC	-0.33	0.89	-0.65	-0.72	-0.52	0.2		0.55	-0.67	-0.39	SILC
CMTL	-0.59	0.8	-0.55	-0.48	-0.38	0.84	0.55		-0.77	-0.26	CMTL
PSQH	0.8	-0.8	0.89	0.73	0.76	-0.6	-0.67	-0.77		0.51	PSQH
INVE	0.42	-0.36	0.53	0.48	0.5	-0.06	-0.39	-0.26	0.51		INVE
	GAUZ	OPTX	SLNH	GNSS	LINK	VELO	SILC	CMTL	PSQH	INVE

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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

SILC	+ 0.89	OPTX
PSQH	+ 0.89	SLNH
CMTL	+ 0.84	VELO
LINK	+ 0.8	GAUZ
PSQH	+ 0.8	GAUZ
CMTL	+ 0.8	OPTX

High negative correlations

PSQH	- 0.8	OPTX
PSQH	- 0.77	CMTL
SILC	- 0.72	GNSS
GNSS	- 0.72	OPTX
SLNH	- 0.7	OPTX
PSQH	- 0.67	SILC

Risk-Adjusted Indicators

There is a big difference between Mind Stock performing well and Mind Technology 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 Mind Technology'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
GAUZ	9.66	(1.91)	0.00	(0.60)	0.00	0.00	20.18	(17.52)	102.16
OPTX	8.44	1.91	0.26	0.57	7.17	(10.75)	19.23	(14.26)	48.77
SLNH	7.30	(1.41)	0.00	(0.26)	0.00	0.00	17.32	(12.39)	43.75
GNSS	2.04	(0.30)	0.00	(0.19)	0.00	0.00	4.06	(4.66)	16.48
LINK	4.15	(0.62)	0.00	(0.83)	0.00	0.00	10.25	(9.44)	21.49
VELO	10.77	1.73	0.22	0.32	8.63	(14.29)	23.12	(15.09)	74.84
SILC	3.12	0.40	0.14	0.34	2.78	(3.76)	5.76	(5.04)	35.12
CMTL	3.91	1.05	0.23	0.70	4.15	(4.79)	10.68	(6.75)	27.66
PSQH	3.65	(1.41)	0.00	(0.43)	0.00	0.00	7.14	(8.49)	26.94
INVE	2.48	(0.30)	0.00	(0.86)	0.00	0.00	4.62	(5.23)	15.58

Mind Technology Corporate Executives

Elected by the shareholders, the Mind Technology's board of directors comprises two types of representatives: Mind Technology inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Mind. The board's role is to monitor Mind Technology's management team and ensure that shareholders' interests are well served. Mind Technology's inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, Mind Technology's outside directors are responsible for providing unbiased perspectives on the board's policies.

Mark CPA

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