Newegg Commerce Correlations

NEGG Stock

USD 0.57 0.02 3.39%

The current 90-days correlation between Newegg Commerce and Etsy Inc is 0.19 (i.e., Average 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

Modest diversification

The correlation between Newegg Commerce and DJI is 0.25 (i.e., Modest 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

0.8	DIBS	1StdibsCom	Pair Corr
0.63	AN	AutoNation	Pair Corr
0.84	FL	Foot Locker Earnings Call This Week	Pair Corr
0.69	ETSY	Etsy Inc	Pair Corr
0.67	AAP	Advance Auto Parts	Pair Corr
0.68	ASO	Academy Sports Outdoors Earnings Call This Week	Pair Corr
0.74	BGI	Birks Group	Pair Corr
0.73	CAL	Continental	Pair Corr

Moving against Newegg Stock

0.79	LB	LandBridge Company	Pair Corr
0.74	VSCO	Victorias Secret	Pair Corr
0.69	EVGO	Evgo Inc	Pair Corr
0.65	HD	Home Depot	Pair Corr
0.64	BQ	Boqii Holding Limited	Pair Corr
0.64	JD	JD Inc Adr Aggressive Push	Pair Corr
0.56	WINA	Winmark	Pair Corr
0.49	RH	RH	Pair Corr
0.43	WEYS	Weyco Group	Pair Corr
0.4	WOOF	Pet Acquisition LLC Earnings Call This Week	Pair Corr
0.34	VIPS	Vipshop Holdings	Pair Corr
0.85	BBW	Build A Bear Earnings Call This Week	Pair Corr
0.72	DDS	Dillards	Pair Corr
0.71	FTEL	Fitell Ordinary	Pair Corr
0.71	LAD	Lithia Motors	Pair Corr
0.64	XELB	Xcel Brands	Pair Corr
0.53	ELA	Envela Corp	Pair Corr
0.52	BKE	Buckle Inc	Pair Corr
0.52	JWN	Nordstrom	Pair Corr

Related Correlations Analysis

	SE	MELI	CHWY	PDD	ETSY	RVLV	GLBE	JD	BABA
SE		-0.31	0.45	0.48	-0.54	0.74	0.83	0.71	0.5	SE
MELI	-0.31		-0.23	-0.13	0.13	-0.51	-0.28	-0.12	0.04	MELI
CHWY	0.45	-0.23		-0.12	0.05	0.72	0.72	0.03	-0.05	CHWY
PDD	0.48	-0.13	-0.12		-0.37	0.07	0.13	0.79	0.83	PDD
ETSY	-0.54	0.13	0.05	-0.37		-0.2	-0.36	-0.57	-0.41	ETSY
RVLV	0.74	-0.51	0.72	0.07	-0.2		0.85	0.28	0.04	RVLV
GLBE	0.83	-0.28	0.72	0.13	-0.36	0.85		0.38	0.16	GLBE
JD	0.71	-0.12	0.03	0.79	-0.57	0.28	0.38		0.93	JD
BABA	0.5	0.04	-0.05	0.83	-0.41	0.04	0.16	0.93		BABA
	SE	MELI	CHWY	PDD	ETSY	RVLV	GLBE	JD	BABA

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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

BABA	+ 0.93	JD
GLBE	+ 0.85	RVLV
GLBE	+ 0.83	SE
BABA	+ 0.83	PDD
JD	+ 0.79	PDD
RVLV	+ 0.74	SE

High negative correlations

JD	- 0.57	ETSY
ETSY	- 0.54	SE
RVLV	- 0.51	MELI
BABA	- 0.41	ETSY
ETSY	- 0.37	PDD
GLBE	- 0.36	ETSY

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
SE	1.58	0.52	0.26	2.06	1.32	(1.92)	4.65	(2.50)	12.95
MELI	1.57	(0.10)	(0.03)	0.00	3.63	(1.34)	2.60	(2.84)	20.82
CHWY	2.28	0.36	0.16	0.46	1.93	(2.63)	6.34	(3.65)	15.78
PDD	3.06	(0.36)	0.00	2.37	0.00	0.00	4.85	(6.40)	29.37
ETSY	1.62	(0.13)	0.00	(0.08)	0.00	0.00	3.33	(4.28)	13.37
RVLV	2.48	0.28	0.25	0.17	1.82	(3.02)	4.10	(3.53)	32.36
GLBE	1.69	0.42	0.23	0.47	1.39	(1.96)	4.70	(2.91)	9.43
JD	2.72	0.40	0.10	0.64	3.07	(3.03)	6.76	(6.99)	23.41
BABA	2.05	0.01	(0.01)	0.12	2.44	(2.33)	4.82	(4.27)	16.74

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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