Nexxen International Correlations
| NEXN Stock | 9.76 0.01 0.10% |
A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Nexxen International moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Nexxen International moves in either direction, the perfectly negatively correlated security will move in the opposite direction.
Nexxen International Correlation With Market
Significant diversification
The correlation between Nexxen International and DJI is 0.05 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Nexxen International and DJI in the same portfolio, assuming nothing else is changed.
Nexxen |
The ability to find closely correlated positions to Nexxen International could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Nexxen International when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back Nexxen International - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling Nexxen International to buy it.
Moving together with Nexxen Pink Sheet
Moving against Nexxen Pink Sheet
| 0.76 | FLNT | Fluent Inc | PairCorr |
| 0.67 | ADVWW | Advantage Solutions | PairCorr |
| 0.6 | IAS | Integral Ad Science | PairCorr |
| 0.54 | HAO | Haoxi Health Technology | PairCorr |
| 0.5 | MGOL | MGO Global Common | PairCorr |
| 0.46 | BOC | Boston Omaha Corp | PairCorr |
| 0.44 | CCO | Clear Channel Outdoor | PairCorr |
| 0.4 | DRCT | Direct Digital Holdings | PairCorr |
| 0.85 | QMMM | QMMM Holdings Limited | PairCorr |
| 0.74 | ANTE | Airnet Technology | PairCorr |
| 0.67 | GSMGW | Glory Star New | PairCorr |
| 0.64 | SWAG | Software Acquisition | PairCorr |
| 0.64 | ABLVW | Able View Global | PairCorr |
| 0.56 | OMC | Omnicom Group | PairCorr |
| 0.38 | CDLX | Cardlytics | PairCorr |
| 0.34 | TNMG | TNL Mediagene Ordinary | PairCorr |
Related Correlations Analysis
| Click cells to compare fundamentals | Check Volatility | Backtest Portfolio |
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
| High negative correlations
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Risk-Adjusted Indicators
There is a big difference between Nexxen Pink Sheet performing well and Nexxen International 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 Nexxen International'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| UBER | 1.66 | (0.03) | 0.00 | (0.35) | 0.00 | 3.36 | 12.29 | |||
| NTWK | 1.66 | (0.18) | 0.00 | (0.47) | 0.00 | 3.46 | 12.94 | |||
| CDNS | 1.56 | 0.12 | 0.02 | 0.36 | 2.64 | 2.92 | 13.16 | |||
| AZPN | 0.58 | 0.15 | 0.15 | 0.55 | 0.27 | 1.50 | 3.63 | |||
| BILL | 2.33 | 0.73 | 0.32 | 0.90 | 1.74 | 5.81 | 22.40 | |||
| QLYS | 1.74 | 0.23 | 0.12 | 0.38 | 1.54 | 2.91 | 27.84 | |||
| ADUR | 3.10 | 0.55 | 0.11 | (0.83) | 3.41 | 7.73 | 28.84 |
Be your own money manager
Our tools can tell you how much better you can do entering a position in Nexxen International without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.Did you try this?
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Nexxen International Corporate Management
| Karim Rayes | Chief Officer | Profile | |
| Jay Baum | Chief Officer | Profile | |
| Caroline Smith | Vice Communications | Profile | |
| Jackie Orris | Chief Officer | Profile | |
| Ben Kaplan | Chief Officer | Profile |