Naas Technology Correlations

NAAS Stock

USD 1.58 0.02 1.25%

The current 90-days correlation between Naas Technology ADR and Leslies is 0.12 (i.e., Average diversification). The correlation of Naas 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. If the correlation is 0, the equities are not correlated; they are entirely random.

Naas Technology Correlation With Market

Significant diversification

The correlation between Naas Technology ADR and DJI is 0.04 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Naas Technology ADR 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 Naas Technology ADR. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in nation.

Moving together with Naas Stock

0.86	KSS	Kohls Corp	Pair Corr
0.75	PDD	PDD Holdings Buyout Trend	Pair Corr
0.76	F	Ford Motor Aggressive Push	Pair Corr
0.77	BLD	Topbuild Corp	Pair Corr
0.65	NKE	Nike Inc	Pair Corr
0.75	PTAIF	PT Astra International	Pair Corr
0.65	PTAIY	Astra International Tbk	Pair Corr
0.87	PKX	POSCO Holdings Earnings Call Tomorrow	Pair Corr
0.61	40049JAT4	Grupo Televisa SAB	Pair Corr
0.66	AA	Alcoa Corp	Pair Corr

Moving against Naas Stock

0.79	DDS	Dillards	Pair Corr
0.79	GLBE	Global E Online	Pair Corr
0.76	SKX	Skechers USA	Pair Corr
0.72	GPI	Group 1 Automotive	Pair Corr
0.62	PRDO	Perdoceo Education Corp	Pair Corr
0.57	SAH	Sonic Automotive	Pair Corr
0.57	ONON	On Holding	Pair Corr
0.51	DASH	DoorDash, Class A	Pair Corr
0.49	AN	AutoNation	Pair Corr
0.44	JWN	Nordstrom Sell-off Trend	Pair Corr
0.32	LAD	Lithia Motors	Pair Corr
0.78	BA	Boeing Fiscal Year End 29th of January 2025	Pair Corr
0.73	CSCO	Cisco Systems Aggressive Push	Pair Corr
0.55	JPM	JPMorgan Chase	Pair Corr
0.48	DIS	Walt Disney	Pair Corr
0.45	MSFT	Microsoft Earnings Call Next Week	Pair Corr
0.39	BAC	Bank of America Sell-off Trend	Pair Corr
0.38	PIFMY	Indofood Sukses Makmur	Pair Corr
0.38	OPFI	OppFi Inc	Pair Corr
0.36	EXEEW	Expand Energy Symbol Change	Pair Corr

Related Correlations Analysis

	LESL	SBH	ODP	FLWS	CASY	SPWH	TCS	EYE	FRG	HZO
LESL		0.64	0.64	0.47	0.17	0.08	-0.37	0.05	0.0	0.45	LESL
SBH	0.64		0.6	0.34	0.56	-0.18	0.21	0.41	0.0	0.8	SBH
ODP	0.64	0.6		0.35	0.01	0.36	-0.2	-0.24	0.0	0.38	ODP
FLWS	0.47	0.34	0.35		0.16	0.23	-0.09	0.11	0.0	0.52	FLWS
CASY	0.17	0.56	0.01	0.16		-0.23	0.43	0.78	0.0	0.76	CASY
SPWH	0.08	-0.18	0.36	0.23	-0.23		-0.18	-0.25	0.0	-0.06	SPWH
TCS	-0.37	0.21	-0.2	-0.09	0.43	-0.18		0.48	0.0	0.41	TCS
EYE	0.05	0.41	-0.24	0.11	0.78	-0.25	0.48		0.0	0.61	EYE
FRG	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0		0.0	FRG
HZO	0.45	0.8	0.38	0.52	0.76	-0.06	0.41	0.61	0.0		HZO
	LESL	SBH	ODP	FLWS	CASY	SPWH	TCS	EYE	FRG	HZO

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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

HZO	+ 0.8	SBH
EYE	+ 0.78	CASY
HZO	+ 0.76	CASY
SBH	+ 0.64	LESL
ODP	+ 0.64	LESL
HZO	+ 0.61	EYE

High negative correlations

TCS	- 0.37	LESL
EYE	- 0.25	SPWH
EYE	- 0.24	ODP
SPWH	- 0.23	CASY
TCS	- 0.2	ODP
TCS	- 0.18	SPWH

Risk-Adjusted Indicators

There is a big difference between Naas Stock performing well and Naas 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 Naas 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
LESL	3.88	(0.22)	0.00	0.81	0.00	0.00	9.42	(6.11)	41.35
SBH	1.86	(0.11)	0.00	3.22	0.00	0.00	4.50	(3.63)	17.73
ODP	2.19	(0.31)	0.00	1.21	0.00	0.00	4.55	(5.10)	14.90
FLWS	2.26	0.00	0.00	0.02	2.89	(2.52)	5.39	(4.77)	13.29
CASY	0.95	0.00	(0.01)	0.05	1.11	(1.25)	2.63	(1.88)	7.77
SPWH	3.60	(0.22)	0.00	(3.95)	0.00	0.00	9.09	(6.69)	25.49
TCS	7.38	(3.67)	0.00	(1.29)	0.00	0.00	15.01	(27.14)	42.15
EYE	2.06	0.15	0.06	0.25	2.27	(2.29)	4.90	(4.45)	11.05
FRG	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
HZO	2.17	(0.04)	0.00	(0.06)	0.00	0.00	5.54	(3.68)	18.00

Naas Technology Corporate Management

Alex Wu	Interim Officer	Profile
Ye Wu	Chief Officer	Profile
Steven Sim	Chief Officer	Profile
Wang Yang	CEO Director	Profile

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