NewtekOne, 800 Correlations

NEWTI Stock

USD 25.33 0.06 0.24%

The current 90-days correlation between NewtekOne, 800 percent and Yuexiu Transport Infrastructure is -0.01 (i.e., Good diversification). The correlation of NewtekOne, 800 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.

NewtekOne, 800 Correlation With Market

Good diversification

The correlation between NewtekOne, 800 percent and DJI is -0.14 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding NewtekOne, 800 percent 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 NewtekOne, 800 percent. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in estimate.

Moving together with NewtekOne, Stock

0.67	NEWTZ	Newtek Business Services	Pair Corr
0.8	DPCS	DP Cap Acquisition	Pair Corr
0.65	DSAQ	Direct Selling Acqui	Pair Corr
0.64	PFXNZ	PhenixFIN 525	Pair Corr

Moving against NewtekOne, Stock

0.56	AHT-PG	Ashford Hospitality Trust	Pair Corr
0.51	AHT-PI	Ashford Hospitality Trust	Pair Corr
0.49	SCHW-PJ	Charles Schwab	Pair Corr
0.47	AHT-PH	Ashford Hospitality Trust	Pair Corr
0.44	ADC-PA	Agree Realty	Pair Corr
0.35	ECRO	Ecc Cap Corp	Pair Corr
0.63	FIAC	Focus Impact Acquisition Symbol Change	Pair Corr
0.36	ILLRW	Triller Group Symbol Change	Pair Corr

Related Correlations Analysis

	HIHO	NXST	GZITF	AFYA	UAL	HGMCF
HIHO		0.18	0.21	-0.05	0.5	0.43	HIHO
NXST	0.18		0.28	0.42	0.42	0.42	NXST
GZITF	0.21	0.28		0.26	0.79	0.39	GZITF
AFYA	-0.05	0.42	0.26		0.04	0.33	AFYA
UAL	0.5	0.42	0.79	0.04		0.51	UAL
HGMCF	0.43	0.42	0.39	0.33	0.51		HGMCF
	HIHO	NXST	GZITF	AFYA	UAL	HGMCF

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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

UAL	+ 0.79	GZITF
HGMCF	+ 0.51	UAL
UAL	+ 0.5	HIHO
HGMCF	+ 0.43	HIHO
AFYA	+ 0.42	NXST
UAL	+ 0.42	NXST

High negative correlations

AFYA

- 0.05

HIHO

Risk-Adjusted Indicators

There is a big difference between NewtekOne, Stock performing well and NewtekOne, 800 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 NewtekOne, 800'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
HIHO	1.84	0.14	0.02	0.48	3.03	(2.10)	2.73	(2.70)	41.88
NXST	1.32	(0.10)	(0.03)	0.04	2.37	(1.42)	2.86	(2.57)	17.92
GZITF	0.84	0.37	0.00	0.97	0.00	0.00	0.00	0.00	26.67
AFYA	1.52	(0.17)	0.00	(0.24)	0.00	0.00	2.62	(4.21)	9.86
UAL	2.00	1.06	0.76	0.65	0.48	(2.61)	6.47	(1.92)	16.43
HGMCF	0.83	(0.08)	0.00	(1.18)	0.00	0.00	0.57	0.00	38.00

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