Newegg Commerce Correlations

NEGG Stock

USD 0.44 0.02 4.76%

The current 90-days correlation between Newegg Commerce and Jumia Technologies AG is 0.36 (i.e., Weak diversification). The correlation of Newegg Commerce 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.

Newegg Commerce Correlation With Market

Average diversification

The correlation between Newegg Commerce and DJI is 0.16 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Newegg Commerce 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 Newegg Commerce. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in price.

For more detail on how to invest in Newegg Stock please use our How to Invest in Newegg Commerce guide.

Moving together with Newegg Stock

0.79	DIBS	1StdibsCom	Pair Corr
0.78	FL	Foot Locker	Pair Corr
0.92	LE	Lands End	Pair Corr
0.86	DLTH	Duluth Holdings	Pair Corr
0.93	EDUC	Educational Development	Pair Corr
0.81	EVGO	Evgo Inc	Pair Corr
0.65	WOOF	Pet Acquisition LLC	Pair Corr
0.77	AEO	American Eagle Outfitters	Pair Corr
0.69	AKA	AKA Brands Holding	Pair Corr
0.76	AZI	Autozi Internet Tech	Pair Corr
0.68	BGI	Birks Group	Pair Corr
0.89	CAL	Continental	Pair Corr

Moving against Newegg Stock

0.82	RH	RH	Pair Corr
0.59	EBAY	eBay Inc	Pair Corr
0.48	AN	AutoNation	Pair Corr
0.37	JL	J Long Group Upward Rally	Pair Corr
0.36	BQ	Boqii Holding Limited	Pair Corr
0.79	FNKO	Funko Inc	Pair Corr
0.71	AAP	Advance Auto Parts	Pair Corr
0.71	ASO	Academy Sports Outdoors	Pair Corr
0.67	BBW	Build A Bear	Pair Corr
0.55	AZO	AutoZone	Pair Corr
0.49	BKE	Buckle Inc	Pair Corr
0.38	FIVE	Five Below	Pair Corr

Related Correlations Analysis

	JFBR	JMIA	WISH	OSTK	PIK	QRTEB	NHTC	LQDT	SECO	W
JFBR		-0.21	0.0	0.0	-0.25	-0.33	-0.59	0.4	0.0	0.52	JFBR
JMIA	-0.21		0.0	0.0	0.37	0.38	-0.1	-0.26	0.0	0.48	JMIA
WISH	0.0	0.0		0.0	0.0	0.0	0.0	0.0	0.0	0.0	WISH
OSTK	0.0	0.0	0.0		0.0	0.0	0.0	0.0	0.0	0.0	OSTK
PIK	-0.25	0.37	0.0	0.0		0.86	0.37	-0.83	0.0	-0.1	PIK
QRTEB	-0.33	0.38	0.0	0.0	0.86		0.42	-0.85	0.0	-0.14	QRTEB
NHTC	-0.59	-0.1	0.0	0.0	0.37	0.42		-0.69	0.0	-0.53	NHTC
LQDT	0.4	-0.26	0.0	0.0	-0.83	-0.85	-0.69		0.0	0.32	LQDT
SECO	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0		0.0	SECO
W	0.52	0.48	0.0	0.0	-0.1	-0.14	-0.53	0.32	0.0		W
	JFBR	JMIA	WISH	OSTK	PIK	QRTEB	NHTC	LQDT	SECO	W

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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

QRTEB	+ 0.86	PIK
W	+ 0.52	JFBR
W	+ 0.48	JMIA
NHTC	+ 0.42	QRTEB
LQDT	+ 0.4	JFBR
QRTEB	+ 0.38	JMIA

High negative correlations

LQDT	- 0.85	QRTEB
LQDT	- 0.83	PIK
LQDT	- 0.69	NHTC
NHTC	- 0.59	JFBR
W	- 0.53	NHTC
QRTEB	- 0.33	JFBR

Risk-Adjusted Indicators

There is a big difference between Newegg Stock performing well and Newegg Commerce 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 Newegg Commerce'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
JFBR	32.34	16.18	2.14	(4.54)	4.90	(42.71)	12.31	(12.95)	992.31
JMIA	3.54	0.00	0.00	0.11	0.00	0.00	6.46	(6.25)	28.22
WISH	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
OSTK	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
PIK	9.76	(3.27)	0.00	(4.29)	0.00	0.00	22.22	(28.00)	85.74
QRTEB	3.83	(0.49)	0.00	0.99	0.00	0.00	7.75	(9.65)	25.39
NHTC	2.33	(0.32)	0.00	(0.25)	0.00	0.00	4.71	(4.95)	13.08
LQDT	2.13	0.92	0.37	1.28	1.59	(2.50)	4.20	(2.88)	37.17
SECO	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
W	2.76	0.35	0.10	0.47	3.23	(3.10)	6.50	(5.05)	19.49

Newegg Commerce Corporate Management

Fred Chang	CoFounder Chairman	Profile
Yong Hou	Chief Officer	Profile
Michael Chen	Chief Officer	Profile
YuehPai Chang	Chief Officer	Profile
Anthony Chow	Chief Officer	Profile
Christina Ching	Interim Officer	Profile
Jamie Spannos	Chief Officer	Profile

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