Newegg Commerce Correlations

NEGG Stock

USD 43.10 1.36 3.06%

The current 90-days correlation between Newegg Commerce and Revolve Group LLC is 0.14 (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

Pay attention - limited upside

The correlation between Newegg Commerce and DJI is -0.76 (i.e., Pay attention - limited upside) 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 census.

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

0.82	BBY	Best Buy Earnings Call Today	Pair Corr
0.68	OTH	Off The Hook	Pair Corr
0.65	PEW	GrabAGun Digital Holdings	Pair Corr
0.63	JBH	JB Hi Fi	Pair Corr

Moving against Newegg Stock

0.9	ARNI	Arno Therapeutics	Pair Corr
0.79	BCLYF	Barclays PLC	Pair Corr
0.78	RERE	ATRenew Inc DRC	Pair Corr
0.76	SVNLF	Svenska Handelsbanken	Pair Corr
0.73	VALE	Vale SA ADR	Pair Corr
0.72	BCO	Brinks Company	Pair Corr
0.66	LSIIF	Lisi SA	Pair Corr
0.63	TKO	TKO Group Holdings Earnings Call Tomorrow	Pair Corr
0.61	BWMX	Betterware de Mxico	Pair Corr
0.61	SMGZY	Smiths Group Plc	Pair Corr
0.57	FNAC	Fnac Darty SA	Pair Corr
0.56	E	Eni SpA ADR	Pair Corr
0.56	MBINN	Merchants Bancorp	Pair Corr
0.55	UPBD	Upbound Group	Pair Corr
0.55	UAMY	United States Antimony Trending	Pair Corr
0.54	SNLAY	Sino Land	Pair Corr
0.51	RDNW	RideNow Group Symbol Change	Pair Corr
0.46	LBUSD	Lumber Futures	Pair Corr
0.42	AGLXY	AGL Energy	Pair Corr
0.38	PSX	Phillips 66	Pair Corr
0.76	BNEFF	Bonterra Energy Corp	Pair Corr
0.76	PFG	Principal Financial	Pair Corr
0.72	SLB	Schlumberger NV Sell-off Trend	Pair Corr
0.71	MYE	Myers Industries Earnings Call This Week	Pair Corr
0.71	GSM	Ferroglobe PLC	Pair Corr
0.67	PAA	Plains All American	Pair Corr
0.67	BHB	Bar Harbor Bankshares	Pair Corr
0.66	SPHXF	SM Prime Holdings	Pair Corr
0.64	CPA	Copa Holdings SA	Pair Corr
0.62	IIIN	Insteel Industries	Pair Corr

Related Correlations Analysis

	RVLV	RERE	SBH	MODG	ACVA	MCRI	BLBD	AIN	SHCO	WEN
RVLV		0.36	-0.45	-0.16	0.74	-0.24	-0.74	0.08	0.23	0.51	RVLV
RERE	0.36		0.12	0.67	0.0	-0.42	0.07	0.86	-0.14	-0.27	RERE
SBH	-0.45	0.12		0.39	-0.37	-0.01	0.49	0.34	0.0	-0.19	SBH
MODG	-0.16	0.67	0.39		-0.53	-0.35	0.54	0.82	0.0	-0.47	MODG
ACVA	0.74	0.0	-0.37	-0.53		-0.31	-0.84	-0.21	0.14	0.59	ACVA
MCRI	-0.24	-0.42	-0.01	-0.35	-0.31		0.27	-0.44	-0.11	0.14	MCRI
BLBD	-0.74	0.07	0.49	0.54	-0.84	0.27		0.37	-0.29	-0.59	BLBD
AIN	0.08	0.86	0.34	0.82	-0.21	-0.44	0.37		-0.17	-0.41	AIN
SHCO	0.23	-0.14	0.0	0.0	0.14	-0.11	-0.29	-0.17		0.47	SHCO
WEN	0.51	-0.27	-0.19	-0.47	0.59	0.14	-0.59	-0.41	0.47		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

AIN	+ 0.86	RERE
AIN	+ 0.82	MODG
ACVA	+ 0.74	RVLV
MODG	+ 0.67	RERE
WEN	+ 0.59	ACVA
BLBD	+ 0.54	MODG

High negative correlations

BLBD	- 0.84	ACVA
BLBD	- 0.74	RVLV
WEN	- 0.59	BLBD
ACVA	- 0.53	MODG
WEN	- 0.47	MODG
SBH	- 0.45	RVLV

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	2.35	(0.01)	0.01	0.06	2.59	(2.46)	6.43	(4.25)	14.01
RERE	2.43	0.48	0.18	0.50	2.34	(2.79)	7.64	(4.13)	14.39
SBH	2.05	0.10	0.02	0.25	2.67	(2.08)	4.70	(3.81)	14.94
MODG	2.71	0.80	0.25	2.88	2.56	(3.19)	8.81	(3.96)	23.39
ACVA	2.58	(0.39)	0.00	0.85	0.00	0.00	4.54	(6.37)	22.97
MCRI	0.96	(0.02)	(0.04)	0.03	1.22	(0.99)	1.81	(1.99)	7.38
BLBD	1.73	0.07	0.01	0.24	2.44	(1.79)	2.91	(5.24)	17.36
AIN	1.50	0.32	0.21	0.27	1.36	(1.79)	3.53	(2.46)	9.93
SHCO	0.60	0.02	(0.02)	0.23	1.62	(0.80)	1.13	(1.36)	12.23
WEN	2.07	(0.09)	(0.03)	0.00	2.48	(2.45)	3.74	(4.11)	20.79

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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