NextNav Warrant Correlations

NNAVW Stock

USD 6.32 0.04 0.64%

The correlation of NextNav Warrant 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. If the correlation is 0, the equities are not correlated; they are entirely random.

NextNav Warrant Correlation With Market

Average diversification

The correlation between NextNav Warrant and DJI is 0.11 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding NextNav Warrant 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 NextNav Warrant. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in real.

For more information on how to buy NextNav Stock please use our How to Invest in NextNav Warrant guide.

Moving together with NextNav Stock

0.79	S	SentinelOne	Pair Corr
0.99	NN	Nextnav Acquisition Corp	Pair Corr
0.61	ZS	Zscaler Sell-off Trend	Pair Corr
0.65	DTSS	Datasea	Pair Corr
0.84	EVCM	EverCommerce	Pair Corr
0.64	EVTC	Evertec	Pair Corr
0.77	CETXP	Cemtrex Pref	Pair Corr
0.76	FIVN	Five9 Inc	Pair Corr
0.81	FLYW	Flywire Corp	Pair Corr
0.85	DBX	Dropbox	Pair Corr
0.91	GEN	Gen Digital	Pair Corr
0.86	FTNT	Fortinet	Pair Corr
0.68	IOT	Samsara	Pair Corr
0.76	NET	Cloudflare	Pair Corr
0.69	RPD	Rapid7 Inc	Pair Corr
0.68	SWI	SolarWinds Corp	Pair Corr

Moving against NextNav Stock

0.84	VHAI	VHAI	Pair Corr
0.7	VRAR	Glimpse Group	Pair Corr
0.66	MQ	Marqeta	Pair Corr
0.66	FAAS	DigiAsia Corp Symbol Change	Pair Corr
0.57	VRNS	Varonis Systems Potential Growth	Pair Corr
0.46	VRNT	Verint Systems	Pair Corr
0.94	ZPTA	Zapata Computing Holdings Symbol Change	Pair Corr
0.9	VHC	VirnetX Holding Corp	Pair Corr
0.9	ZPTAW	Zapata Computing Holdings	Pair Corr
0.89	TCX	Tucows Inc	Pair Corr
0.7	INTZ	Intrusion	Pair Corr
0.56	OLB	OLB Group Tech Boost	Pair Corr
0.31	PGY	Pagaya Technologies Buyout Trend	Pair Corr

Related Correlations Analysis

	AQUI	MSTSX	LBHIX	VIASP	RRTLX	OSHDF	70082LAB3	SITKF	RWAYL	SEGI
AQUI		0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	AQUI
MSTSX	0.0		0.69	-0.11	0.87	-0.02	0.19	0.79	0.55	0.15	MSTSX
LBHIX	0.0	0.69		0.15	0.72	0.26	0.09	0.5	0.75	0.31	LBHIX
VIASP	0.0	-0.11	0.15		0.0	0.78	0.47	-0.13	0.54	0.67	VIASP
RRTLX	0.0	0.87	0.72	0.0		0.05	0.01	0.51	0.49	0.06	RRTLX
OSHDF	0.0	-0.02	0.26	0.78	0.05		0.35	-0.08	0.62	0.56	OSHDF
70082LAB3	0.0	0.19	0.09	0.47	0.01	0.35		0.34	0.5	0.79	70082LAB3
SITKF	0.0	0.79	0.5	-0.13	0.51	-0.08	0.34		0.55	0.29	SITKF
RWAYL	0.0	0.55	0.75	0.54	0.49	0.62	0.5	0.55		0.69	RWAYL
SEGI	0.0	0.15	0.31	0.67	0.06	0.56	0.79	0.29	0.69		SEGI
	AQUI	MSTSX	LBHIX	VIASP	RRTLX	OSHDF	70082LAB3	SITKF	RWAYL	SEGI

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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

RRTLX	+ 0.87	MSTSX
SITKF	+ 0.79	MSTSX
SEGI	+ 0.79	70082LAB3
OSHDF	+ 0.78	VIASP
RWAYL	+ 0.75	LBHIX
RRTLX	+ 0.72	LBHIX

High negative correlations

SITKF	- 0.13	VIASP
VIASP	- 0.11	MSTSX
SITKF	- 0.08	OSHDF
OSHDF	- 0.02	MSTSX
RRTLX	- 0.0	VIASP
SEGI	- 0.0	AQUI

Risk-Adjusted Indicators

There is a big difference between NextNav Stock performing well and NextNav Warrant 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 NextNav Warrant'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
AQUI	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
MSTSX	0.48	(0.04)	(0.13)	0.06	0.50	(0.59)	1.21	(1.02)	2.80
LBHIX	0.11	0.01	(0.41)	0.46	0.00	(0.29)	0.24	(0.24)	0.96
VIASP	0.72	0.00	(0.02)	0.00	1.05	(0.80)	2.28	(1.15)	7.18
RRTLX	0.24	(0.02)	(0.31)	0.05	0.24	(0.27)	0.56	(0.56)	1.37
OSHDF	39.65	20.22	0.00	(24.88)	0.00	0.00	0.00	0.00	1,329
70082LAB3	1.00	0.07	(0.04)	(0.12)	2.25	(1.07)	1.75	(1.69)	24.27
SITKF	5.58	1.06	0.14	3.03	5.02	(8.21)	14.29	(9.09)	32.64
RWAYL	0.13	0.03	(0.46)	2.12	0.00	(0.18)	0.32	(0.20)	1.21
SEGI	10.80	2.87	0.14	(1.04)	10.74	(18.08)	33.33	(25.00)	63.33

NextNav Warrant Corporate Management

Christian Gates	Chief Officer	Profile
David Knutson	Senior Deployment	Profile
Sammaad Shams	Corporate Officer	Profile
Ganesh Pattabiraman	Senior Advisor	Profile
Sanyogita Shamsunder	Chief Officer	Profile

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