Newtek Business Correlations
A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Newtek Business moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Newtek Business Services moves in either direction, the perfectly negatively correlated security will move in the opposite direction.
Newtek Business Correlation With Market
Good diversification
The correlation between Newtek Business Services and DJI is -0.01 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Newtek Business Services and DJI in the same portfolio, assuming nothing else is changed.
Newtek |
Moving together with Newtek Stock
| 0.61 | LTSL | Ladenburg Thalmann | PairCorr |
| 0.9 | RCC | Small Cap Premium | PairCorr |
| 0.93 | RCB | Ready Capital | PairCorr |
| 0.86 | NVDA | NVIDIA | PairCorr |
| 0.78 | BMYMP | Bristol Myers Squibb | PairCorr |
| 0.84 | AMZN | Amazon Inc Aggressive Push | PairCorr |
| 0.75 | GOOG | Alphabet Class C | PairCorr |
| 0.69 | META | Meta Platforms Aggressive Push | PairCorr |
| 0.89 | SCHW | Charles Schwab Corp Fiscal Year End 15th of January 2025 | PairCorr |
| 0.64 | DXYZ | Destiny Tech100 | PairCorr |
| 0.94 | ALAB | Astera Labs, Common | PairCorr |
| 0.8 | ZM | Zoom Video Communications | PairCorr |
| 0.9 | CRWD | Crowdstrike Holdings | PairCorr |
| 0.76 | DECK | Deckers Outdoor | PairCorr |
| 0.95 | ADSK | Autodesk | PairCorr |
| 0.77 | GM | General Motors | PairCorr |
| 0.91 | MRVL | Marvell Technology Earnings Call Tomorrow | PairCorr |
| 0.89 | STLD | Steel Dynamics Fiscal Year End 28th of January 2025 | PairCorr |
| 0.72 | APLD | Applied Blockchain | PairCorr |
| 0.92 | GVA | Granite Construction | PairCorr |
Moving against Newtek Stock
| 0.73 | SFB | Stifel Financial | PairCorr |
| 0.54 | AMIX | Autonomix Medical, Common Downward Rally | PairCorr |
| 0.37 | EATBF | Eat Beyond Global | PairCorr |
Related Correlations Analysis
| 0.87 | 0.82 | 0.59 | 0.71 | TANNL | ||
| 0.87 | 0.9 | 0.55 | 0.88 | TANNZ | ||
| 0.82 | 0.9 | 0.63 | 0.79 | NEWTZ | ||
| 0.59 | 0.55 | 0.63 | 0.48 | RILYO | ||
| 0.71 | 0.88 | 0.79 | 0.48 | TANNI | ||
| Click cells to compare fundamentals | Check Volatility | Backtest Portfolio |
Risk-Adjusted Indicators
There is a big difference between Newtek Stock performing well and Newtek Business 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 Newtek Business' 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| TANNL | 0.21 | 0.00 | (0.39) | 0.26 | 0.20 | 0.56 | 1.57 | |||
| TANNZ | 0.11 | 0.00 | (0.55) | 0.19 | 0.00 | 0.32 | 0.88 | |||
| NEWTZ | 0.16 | 0.03 | (0.30) | 0.87 | 0.00 | 0.49 | 1.46 | |||
| RILYO | 0.41 | 0.01 | (0.18) | 0.25 | 0.42 | 1.20 | 2.95 | |||
| TANNI | 0.19 | 0.00 | (0.35) | 0.08 | 0.23 | 0.48 | 1.16 |
Newtek Business Related Equities
One of the popular trading techniques among algorithmic traders is to use market-neutral strategies where every trade hedges away some risk. Because there are two separate transactions required, even if one position performs unexpectedly, the other equity can make up some of the losses. Below are some of the equities that can be combined with Newtek Business stock to make a market-neutral strategy. Peer analysis of Newtek Business could also be used in its relative valuation, which is a method of valuing Newtek Business by comparing valuation metrics with similar companies.
| Risk & Return | Correlation |
Still Interested in Newtek Business Services?
Investing in delisted delisted stocks can be risky, as the stock is no longer traded on a public exchange and can therefore be difficult to sell. Delisting typically occurs when a company has failed to meet exchange requirements or has been acquired. Before investing, it's important to thoroughly research the company, including its financial health and prospects for the future, as well as the reasons for its delisting. Additionally, it may be difficult to find accurate and up-to-date information on the company and its stock.