Nextplat Corp Correlations

NXPL Stock

USD 1.07 0.03 2.73%

A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Nextplat Corp moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Nextplat Corp moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Nextplat Corp Correlation With Market

Good diversification

The correlation between Nextplat Corp 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 Nextplat Corp 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 Nextplat Corp. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in american community survey.

For more information on how to buy Nextplat Stock please use our How to buy in Nextplat Stock guide.

Moving against Nextplat Stock

0.66	PD	Pagerduty	Pair Corr
0.52	DOMO	Domo Inc Tech Boost	Pair Corr
0.45	DUOL	Duolingo Tech Boost	Pair Corr
0.44	DT	Dynatrace Holdings LLC Earnings Call This Week	Pair Corr
0.43	BL	Blackline	Pair Corr
0.37	EB	Eventbrite Class A	Pair Corr
0.34	U	Unity Software	Pair Corr
0.44	ETWO	E2open Parent Holdings	Pair Corr
0.41	EGHT	8x8 Common Stock Tech Boost	Pair Corr

Related Correlations Analysis

	ROWKF	DPSIP	LSPKF	FMEGF	OONEF	WFCF	WALDW	TROO	ATIXF
ROWKF		0.0	-0.42	-0.28	0.92	0.66	0.55	-0.39	0.8	ROWKF
DPSIP	0.0		0.0	0.0	0.0	0.0	0.0	0.0	0.0	DPSIP
LSPKF	-0.42	0.0		-0.41	-0.5	-0.63	-0.14	0.73	-0.33	LSPKF
FMEGF	-0.28	0.0	-0.41		-0.29	-0.1	-0.3	-0.45	-0.14	FMEGF
OONEF	0.92	0.0	-0.5	-0.29		0.72	0.51	-0.43	0.68	OONEF
WFCF	0.66	0.0	-0.63	-0.1	0.72		0.19	-0.52	0.58	WFCF
WALDW	0.55	0.0	-0.14	-0.3	0.51	0.19		-0.02	0.34	WALDW
TROO	-0.39	0.0	0.73	-0.45	-0.43	-0.52	-0.02		-0.29	TROO
ATIXF	0.8	0.0	-0.33	-0.14	0.68	0.58	0.34	-0.29		ATIXF
	ROWKF	DPSIP	LSPKF	FMEGF	OONEF	WFCF	WALDW	TROO	ATIXF

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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

OONEF	+ 0.92	ROWKF
ATIXF	+ 0.8	ROWKF
TROO	+ 0.73	LSPKF
WFCF	+ 0.72	OONEF
ATIXF	+ 0.68	OONEF
WFCF	+ 0.66	ROWKF

High negative correlations

WFCF	- 0.63	LSPKF
TROO	- 0.52	WFCF
OONEF	- 0.5	LSPKF
TROO	- 0.45	FMEGF
TROO	- 0.43	OONEF
LSPKF	- 0.42	ROWKF

Risk-Adjusted Indicators

There is a big difference between Nextplat Stock performing well and Nextplat Corp 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 Nextplat Corp'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
ROWKF	0.70	0.27	0.00	5.16	0.00	0.00	0.00	0.00	17.50
DPSIP	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
LSPKF	1.30	(0.36)	0.00	9.91	0.00	0.00	0.00	0.00	32.50
FMEGF	1.07	0.15	0.00	0.52	0.00	0.00	6.25	0.00	38.91
OONEF	15.33	5.76	0.23	(2.02)	13.02	(27.44)	36.36	(23.08)	244.12
WFCF	1.81	0.12	0.01	4.93	2.90	(1.74)	4.26	(4.48)	17.91
WALDW	6.76	1.15	0.06	(1.65)	7.31	(15.97)	27.27	(20.00)	58.59
TROO	3.98	(0.38)	0.00	3.03	0.00	0.00	6.98	(6.88)	67.03
ATIXF	13.80	2.15	0.11	1.15	12.67	(26.31)	40.00	(25.00)	87.91

Nextplat Corp Corporate Management

Robert CPA	Chief Officer	Profile
CPA Phillip	Chief Officer	Profile
Theresa Carlise	Controller, Officer	Profile
Douglas Ellenoff	Chief Chairman	Profile
Charles Fernandez	CEO Chairman	Profile
Cecile Munnik	Chief Officer	Profile

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