Newegg Commerce Correlations

NEGG Stock

USD 52.40 8.34 18.93%

The current 90-days correlation between Newegg Commerce and Revolve Group LLC is 0.27 (i.e., Modest 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

Excellent diversification

The correlation between Newegg Commerce and DJI is -0.65 (i.e., Excellent 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.

Build AI portfolio with Newegg Stock

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

0.86

BBY

Best Buy

Pair Corr

Moving against Newegg Stock

0.8	RERE	ATRenew Inc DRC	Pair Corr
0.79	KCDMY	Kimberly Clark de	Pair Corr
0.76	IRNRF	Iron Road Limited	Pair Corr
0.76	NEWTH	NewtekOne 8625 percent	Pair Corr
0.74	ONTF	ON24 Inc	Pair Corr
0.74	ISFFF	ISS A/S	Pair Corr
0.71	GSTX	Graphene Solar Techn	Pair Corr
0.71	CDE	Coeur Mining Aggressive Push	Pair Corr
0.7	ALEEF	Alerio Gold Corp	Pair Corr
0.69	ANDE	Andersons	Pair Corr
0.66	GOOG	Alphabet Class C	Pair Corr
0.65	OIA	Invesco Municipal Income	Pair Corr
0.63	GRFS	Grifols SA ADR	Pair Corr
0.6	MLTX	MoonLake Immunotherapeuti	Pair Corr
0.58	CPCAY	Cathay Pacific Airways	Pair Corr
0.56	OMC	Omnicom Group Earnings Call Tomorrow	Pair Corr
0.53	SHOO	Steven Madden	Pair Corr
0.51	EPD	Enterprise Products Sell-off Trend	Pair Corr
0.51	OGN	Organon	Pair Corr
0.4	SCLTF	Searchlight Resources	Pair Corr
0.33	AMPH	Amphastar P	Pair Corr
0.82	ISSC	Innovative Solutions and Earnings Call This Week	Pair Corr
0.77	NTRS	Northern Trust	Pair Corr
0.75	COMP	Compass	Pair Corr
0.73	SMTGF	SMA Solar Technology	Pair Corr
0.72	WMT	Walmart Common Stock Aggressive Push	Pair Corr
0.69	SPLPP	Steel Partners Holdings	Pair Corr
0.63	CRH	CRH PLC ADR	Pair Corr
0.63	SCAGW	Scage Future Warrants	Pair Corr
0.59	AROC	Archrock Symbol Change	Pair Corr
0.58	CASH	Meta Financial Group	Pair Corr
0.57	THO	Thor Industries	Pair Corr

Related Correlations Analysis

	RVLV	RERE	SBH	MODG	ACVA	MCRI	BLBD	AIN	SHCO	WEN
RVLV		0.9	0.4	0.61	0.72	0.04	-0.42	0.63	-0.13	-0.14	RVLV
RERE	0.9		0.54	0.79	0.65	-0.13	-0.31	0.75	-0.14	-0.28	RERE
SBH	0.4	0.54		0.49	0.39	0.01	0.23	0.42	-0.24	-0.25	SBH
MODG	0.61	0.79	0.49		0.35	-0.09	0.01	0.65	0.0	-0.44	MODG
ACVA	0.72	0.65	0.39	0.35		-0.18	-0.34	0.64	-0.18	-0.05	ACVA
MCRI	0.04	-0.13	0.01	-0.09	-0.18		0.36	-0.49	0.34	0.08	MCRI
BLBD	-0.42	-0.31	0.23	0.01	-0.34	0.36		-0.2	0.09	-0.16	BLBD
AIN	0.63	0.75	0.42	0.65	0.64	-0.49	-0.2		-0.23	-0.07	AIN
SHCO	-0.13	-0.14	-0.24	0.0	-0.18	0.34	0.09	-0.23		-0.02	SHCO
WEN	-0.14	-0.28	-0.25	-0.44	-0.05	0.08	-0.16	-0.07	-0.02		WEN
	RVLV	RERE	SBH	MODG	ACVA	MCRI	BLBD	AIN	SHCO	WEN

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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

RERE	+ 0.9	RVLV
MODG	+ 0.79	RERE
AIN	+ 0.75	RERE
ACVA	+ 0.72	RVLV
ACVA	+ 0.65	RERE
AIN	+ 0.65	MODG

High negative correlations

AIN	- 0.49	MCRI
WEN	- 0.44	MODG
BLBD	- 0.42	RVLV
BLBD	- 0.34	ACVA
BLBD	- 0.31	RERE
WEN	- 0.28	RERE

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
RVLV	2.44	0.27	0.13	0.25	2.20	(2.89)	6.43	(3.44)	16.41
RERE	2.14	0.58	0.21	0.97	2.19	(2.36)	6.33	(3.25)	14.39
SBH	1.92	0.15	0.05	0.28	2.41	(1.92)	4.55	(3.93)	11.38
MODG	2.71	0.92	0.24	(0.72)	2.56	(3.19)	8.81	(3.96)	23.39
ACVA	2.93	(0.30)	0.00	(0.11)	0.00	0.00	5.48	(4.69)	37.55
MCRI	0.88	0.10	0.06	0.30	0.82	(1.00)	2.07	(1.30)	4.49
BLBD	1.60	0.19	0.06	0.53	2.16	(1.70)	2.70	(3.24)	12.97
AIN	1.73	(0.02)	0.00	0.07	2.76	(1.83)	3.53	(2.48)	10.65
SHCO	0.60	0.03	(0.02)	(1.52)	1.62	(0.80)	1.13	(1.36)	12.23
WEN	1.87	(0.11)	0.00	(0.03)	0.00	0.00	4.07	(4.04)	11.11

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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