Northann Corp Correlations

NCL Stock

0.28 0.01 3.45%

The current 90-days correlation between Northann Corp and United Guardian is -0.25 (i.e., Very good diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Northann Corp moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Northann Corp moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Northann Corp Correlation With Market

Good diversification

The correlation between Northann Corp and DJI is -0.06 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Northann Corp 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 Northann Corp. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in main economic indicators.

For more information on how to buy Northann Stock please use our How to buy in Northann Stock guide.

Moving together with Northann Stock

0.65	LOVE	Lovesac	Pair Corr
0.77	GM	General Motors	Pair Corr
0.74	GT	Goodyear Tire Rubber	Pair Corr
0.79	IP	International Paper	Pair Corr

Moving against Northann Stock

0.79	HBB	Hamilton Beach Brands	Pair Corr
0.76	NVFY	Nova Lifestyle I	Pair Corr
0.68	DIBS	1StdibsCom	Pair Corr
0.6	W	Wayfair	Pair Corr
0.57	GP	GreenPower Motor	Pair Corr
0.56	COOK	Traeger	Pair Corr
0.45	LCUT	Lifetime Brands	Pair Corr
0.42	ATER	Aterian	Pair Corr
0.34	PATK	Patrick Industries	Pair Corr
0.62	YJ	Yunji Inc	Pair Corr
0.61	QS	Quantumscape Corp	Pair Corr
0.57	DOOO	BRP Inc Earnings Call This Week	Pair Corr
0.47	VLCN	Volcon Inc	Pair Corr
0.46	DLTH	Duluth Holdings Earnings Call This Week	Pair Corr
0.46	VNCE	Vince Holding Corp	Pair Corr
0.4	DXYN	Dixie Group	Pair Corr

Related Correlations Analysis

	UG	EML	AWLCF	HP	PG	NBR	DKDRF	EWCZ
UG		0.71	0.65	-0.53	0.44	-0.39	-0.78	0.12	UG
EML	0.71		0.55	-0.18	0.21	-0.24	-0.77	0.08	EML
AWLCF	0.65	0.55		-0.13	0.07	-0.11	-0.64	0.68	AWLCF
HP	-0.53	-0.18	-0.13		-0.7	0.76	0.3	0.19	HP
PG	0.44	0.21	0.07	-0.7		-0.71	-0.41	-0.32	PG
NBR	-0.39	-0.24	-0.11	0.76	-0.71		0.3	0.24	NBR
DKDRF	-0.78	-0.77	-0.64	0.3	-0.41	0.3		-0.01	DKDRF
EWCZ	0.12	0.08	0.68	0.19	-0.32	0.24	-0.01		EWCZ
	UG	EML	AWLCF	HP	PG	NBR	DKDRF	EWCZ

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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

NBR	+ 0.76	HP
EML	+ 0.71	UG
EWCZ	+ 0.68	AWLCF
AWLCF	+ 0.65	UG
AWLCF	+ 0.55	EML
PG	+ 0.44	UG

High negative correlations

DKDRF	- 0.78	UG
DKDRF	- 0.77	EML
NBR	- 0.71	PG
PG	- 0.7	HP
DKDRF	- 0.64	AWLCF
HP	- 0.53	UG

Risk-Adjusted Indicators

There is a big difference between Northann Stock performing well and Northann Corp 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 Northann Corp'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
UG	2.84	(0.48)	0.00	(1.59)	0.00	0.00	5.03	(6.49)	23.10
EML	1.64	0.00	0.00	0.10	0.00	0.00	3.39	(3.42)	11.83
AWLCF	0.08	(0.05)	0.00	2.02	0.00	0.00	0.00	0.00	2.54
HP	1.95	(0.03)	0.00	0.07	2.46	(2.01)	3.69	(4.82)	12.16
PG	0.69	0.04	(0.08)	(0.16)	0.84	(0.75)	1.56	(1.26)	4.66
NBR	3.14	(0.10)	0.00	(0.42)	0.00	0.00	6.27	(5.77)	15.91
DKDRF	0.94	0.37	0.00	(2.48)	0.00	0.00	3.29	(0.64)	17.09
EWCZ	2.57	(0.07)	0.00	1.47	0.00	0.00	4.28	(4.61)	31.55

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