NETCLASS TECHNOLOGY Correlations

NTCL Stock

10.15 0.92 9.97%

The current 90-days correlation between NETCLASS TECHNOLOGY INC and Bassett Furniture Industries is -0.13 (i.e., Good diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as NETCLASS TECHNOLOGY moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if NETCLASS TECHNOLOGY INC moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

NETCLASS TECHNOLOGY Correlation With Market

Good diversification

The correlation between NETCLASS TECHNOLOGY INC and DJI is -0.16 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding NETCLASS TECHNOLOGY INC 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 NETCLASS TECHNOLOGY INC. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in main economic indicators.

Moving against NETCLASS Stock

0.55	DSGX	Descartes Systems	Pair Corr
0.45	DV	DoubleVerify Holdings	Pair Corr
0.44	DJCO	Daily Journal Corp	Pair Corr
0.44	DT	Dynatrace Holdings LLC	Pair Corr
0.4	PD	Pagerduty	Pair Corr
0.39	ZM	Zoom Video Communications	Pair Corr
0.39	DOCU	DocuSign	Pair Corr
0.39	VERX	Vertex	Pair Corr
0.37	U	Unity Software	Pair Corr
0.33	WK	Workiva	Pair Corr
0.32	VERB	Verb Technology	Pair Corr
0.31	BL	Blackline	Pair Corr
0.52	ELWS	Earlyworks Co,	Pair Corr
0.48	BSY	Bentley Systems	Pair Corr
0.46	BMR	Beamr Imaging	Pair Corr
0.45	VTEX	VTEX	Pair Corr
0.44	EGHT	8x8 Common Stock	Pair Corr
0.43	VTSI	VirTra Inc Tech Boost	Pair Corr
0.43	APP	Applovin Corp	Pair Corr
0.42	DUOL	Duolingo	Pair Corr
0.42	EGAN	eGain	Pair Corr
0.4	VMEO	Vimeo Inc	Pair Corr
0.38	ESTC	Elastic NV	Pair Corr
0.36	ILLRW	Triller Group Symbol Change	Pair Corr
0.36	ETWO	E2open Parent Holdings	Pair Corr
0.36	FICO	Fair Isaac	Pair Corr
0.34	WDAY	Workday	Pair Corr
0.31	DUOT	Duos Technologies	Pair Corr
0.6	DAY	Dayforce	Pair Corr
0.47	LAW	CS Disco LLC	Pair Corr

Related Correlations Analysis

	BWOFY	CRHKF	BSET	KNOP	BTNY	LIVE	MNST	TOWTF
BWOFY		0.24	0.13	0.53	0.0	-0.31	0.48	0.0	BWOFY
CRHKF	0.24		0.66	0.63	0.0	-0.61	0.83	0.0	CRHKF
BSET	0.13	0.66		0.15	0.0	-0.84	0.81	0.0	BSET
KNOP	0.53	0.63	0.15		0.0	-0.24	0.59	0.0	KNOP
BTNY	0.0	0.0	0.0	0.0		0.0	0.0	0.0	BTNY
LIVE	-0.31	-0.61	-0.84	-0.24	0.0		-0.83	0.0	LIVE
MNST	0.48	0.83	0.81	0.59	0.0	-0.83		0.0	MNST
TOWTF	0.0	0.0	0.0	0.0	0.0	0.0	0.0		TOWTF
	BWOFY	CRHKF	BSET	KNOP	BTNY	LIVE	MNST	TOWTF

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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

MNST	+ 0.83	CRHKF
MNST	+ 0.81	BSET
BSET	+ 0.66	CRHKF
KNOP	+ 0.63	CRHKF
MNST	+ 0.59	KNOP
KNOP	+ 0.53	BWOFY

High negative correlations

LIVE	- 0.84	BSET
MNST	- 0.83	LIVE
LIVE	- 0.61	CRHKF
LIVE	- 0.31	BWOFY
LIVE	- 0.24	KNOP
TOWTF	- 0.0	MNST

Risk-Adjusted Indicators

There is a big difference between NETCLASS Stock performing well and NETCLASS TECHNOLOGY 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 NETCLASS TECHNOLOGY'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
BWOFY	0.29	(0.07)	0.00	1.01	0.00	0.00	0.00	0.00	9.73
CRHKF	1.05	0.53	0.00	9.21	0.00	0.00	0.00	0.00	16.67
BSET	1.74	0.33	0.15	0.59	2.14	(1.84)	3.70	(3.60)	10.89
KNOP	2.09	0.13	0.05	0.07	2.74	(2.29)	4.80	(4.46)	20.19
BTNY	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
LIVE	2.51	(0.06)	0.00	1.26	0.00	0.00	4.50	(5.08)	16.01
MNST	1.24	0.23	0.15	0.35	1.52	(1.23)	3.50	(2.48)	9.57
TOWTF	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00

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