NextTrip Correlations

NTRP Stock

USD 3.06 0.04 1.32%

The current 90-days correlation between NextTrip and Tuniu Corp is -0.08 (i.e., Good diversification). The correlation of NextTrip 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.

NextTrip Correlation With Market

Excellent diversification

The correlation between NextTrip and DJI is -0.57 (i.e., Excellent diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding NextTrip and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with NextTrip Stock

Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in NextTrip. 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.

To learn how to invest in NextTrip Stock, please use our How to Invest in NextTrip guide.

Moving together with NextTrip Stock

0.77	DT	Dynatrace Holdings LLC Tech Boost	Pair Corr
0.74	MQ	Marqeta	Pair Corr
0.71	PD	Pagerduty	Pair Corr
0.72	VS	Versus Systems	Pair Corr
0.66	WK	Workiva	Pair Corr
0.75	DMRC	Digimarc	Pair Corr
0.68	2TY	PagerDuty	Pair Corr
0.68	DOCU	DocuSign	Pair Corr
0.79	DOMO	Domo Inc	Pair Corr
0.83	1Q5	Dropbox Earnings Call This Week	Pair Corr
0.64	VERI	Veritone	Pair Corr
0.76	LY0	Lyft Inc	Pair Corr

Moving against NextTrip Stock

0.78	RNI	OXFORD METRICS LS	Pair Corr
0.64	TRB	Tribal Group plc	Pair Corr
0.61	JG	Aurora Mobile	Pair Corr
0.57	LUS1	Lang Schwarz Aktieng	Pair Corr
0.5	XV7	SERESCO 16	Pair Corr
0.34	ZM	Zoom Video Communications	Pair Corr
0.33	60Z	UNIFIEDPOST GRP SANV	Pair Corr
0.32	ZD	Ziff Davis Earnings Call This Week	Pair Corr
0.56	MKQ	Mitek Systems	Pair Corr
0.5	89P	CLAVISTER HOLDING	Pair Corr
0.49	MKT	DeepMarkit Corp Earnings Call Tomorrow	Pair Corr
0.39	AUTO	Carbeeza	Pair Corr
0.37	NOW	NowVertical Group Earnings Call This Week	Pair Corr

Related Correlations Analysis

	TOUR	ISPO	WPRT	TBHC	LESL	FAT	MKDW	NTZ	CDRO
TOUR		-0.64	-0.46	0.58	0.84	0.73	0.75	-0.54	-0.72	TOUR
ISPO	-0.64		0.23	-0.59	-0.54	-0.36	-0.79	0.57	0.29	ISPO
WPRT	-0.46	0.23		0.17	-0.5	-0.43	-0.51	0.81	0.36	WPRT
TBHC	0.58	-0.59	0.17		0.51	0.53	0.4	-0.01	-0.56	TBHC
LESL	0.84	-0.54	-0.5	0.51		0.84	0.7	-0.54	-0.8	LESL
FAT	0.73	-0.36	-0.43	0.53	0.84		0.41	-0.38	-0.92	FAT
MKDW	0.75	-0.79	-0.51	0.4	0.7	0.41		-0.76	-0.37	MKDW
NTZ	-0.54	0.57	0.81	-0.01	-0.54	-0.38	-0.76		0.23	NTZ
CDRO	-0.72	0.29	0.36	-0.56	-0.8	-0.92	-0.37	0.23		CDRO
	TOUR	ISPO	WPRT	TBHC	LESL	FAT	MKDW	NTZ	CDRO

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

LESL	+ 0.84	TOUR
FAT	+ 0.84	LESL
NTZ	+ 0.81	WPRT
MKDW	+ 0.75	TOUR
FAT	+ 0.73	TOUR
MKDW	+ 0.7	LESL

High negative correlations

CDRO	- 0.92	FAT
CDRO	- 0.8	LESL
MKDW	- 0.79	ISPO
NTZ	- 0.76	MKDW
CDRO	- 0.72	TOUR
ISPO	- 0.64	TOUR

Risk-Adjusted Indicators

There is a big difference between NextTrip Stock performing well and NextTrip 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 NextTrip'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
TOUR	1.96	(0.38)	0.00	(0.38)	0.00	0.00	2.94	(4.29)	18.86
ISPO	95.47	48.62	2.24	22.68	11.46	(107.72)	11.59	(3.29)	1,717
WPRT	2.91	(0.01)	0.00	0.05	2.75	(4.44)	6.33	(4.94)	18.19
TBHC	2.64	(0.48)	0.00	(0.32)	0.00	0.00	5.83	(6.52)	15.67
LESL	4.90	(1.56)	0.00	(0.57)	0.00	0.00	9.20	(9.77)	42.31
FAT	7.09	(2.79)	0.00	1.10	0.00	0.00	12.00	(27.18)	59.40
MKDW	4.26	(1.18)	0.00	7.16	0.00	0.00	7.25	(10.92)	36.75
NTZ	3.68	0.38	0.06	1.23	4.12	(5.08)	10.37	(7.04)	25.04
CDRO	1.81	0.53	0.28	0.83	1.35	(2.32)	5.98	(2.21)	14.50

NextTrip Corporate Executives

Elected by the shareholders, the NextTrip's board of directors comprises two types of representatives: NextTrip inside directors who are chosen from within the company, and outside directors, selected externally and held independent of NextTrip. The board's role is to monitor NextTrip's management team and ensure that shareholders' interests are well served. NextTrip's inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, NextTrip's outside directors are responsible for providing unbiased perspectives on the board's policies.

Frank CPA

Treasurer CFO

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