Nextplat Corp Correlations

NXPL Stock

USD 0.56 0.02 3.45%

The current 90-days correlation between Nextplat Corp and Firefly Neuroscience is 0.33 (i.e., Weak diversification). 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 -0.05 (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.

Build AI portfolio with Nextplat Stock

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 persons.

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

Moving together with Nextplat Stock

0.73

SIGL

Signal Advance

Pair Corr

Moving against Nextplat Stock

0.71	TRV	The Travelers Companies	Pair Corr
0.55	CSCO	Cisco Systems Earnings Call Tomorrow	Pair Corr
0.51	MRK	Merck Company Aggressive Push	Pair Corr
0.4	BAC	Bank of America Sell-off Trend	Pair Corr
0.35	JNJ	Johnson Johnson	Pair Corr

Related Correlations Analysis

	AIFF	NTCL	SAGT	NVNI	MNDO	RMSG	ANY	XBP	UTSI	CXAI
AIFF		0.93	0.67	0.75	-0.29	0.92	0.93	-0.74	-0.16	0.85	AIFF
NTCL	0.93		0.6	0.62	-0.36	0.86	0.9	-0.68	-0.01	0.82	NTCL
SAGT	0.67	0.6		0.56	-0.12	0.69	0.65	-0.45	0.1	0.54	SAGT
NVNI	0.75	0.62	0.56		-0.11	0.85	0.73	-0.67	-0.2	0.62	NVNI
MNDO	-0.29	-0.36	-0.12	-0.11		-0.29	-0.51	0.37	-0.03	-0.62	MNDO
RMSG	0.92	0.86	0.69	0.85	-0.29		0.91	-0.7	-0.18	0.82	RMSG
ANY	0.93	0.9	0.65	0.73	-0.51	0.91		-0.7	-0.06	0.94	ANY
XBP	-0.74	-0.68	-0.45	-0.67	0.37	-0.7	-0.7		0.38	-0.65	XBP
UTSI	-0.16	-0.01	0.1	-0.2	-0.03	-0.18	-0.06	0.38		-0.05	UTSI
CXAI	0.85	0.82	0.54	0.62	-0.62	0.82	0.94	-0.65	-0.05		CXAI
	AIFF	NTCL	SAGT	NVNI	MNDO	RMSG	ANY	XBP	UTSI	CXAI

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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

CXAI	+ 0.94	ANY
NTCL	+ 0.93	AIFF
ANY	+ 0.93	AIFF
RMSG	+ 0.92	AIFF
ANY	+ 0.91	RMSG
ANY	+ 0.9	NTCL

High negative correlations

XBP	- 0.74	AIFF
XBP	- 0.7	ANY
XBP	- 0.7	RMSG
XBP	- 0.68	NTCL
XBP	- 0.67	NVNI
CXAI	- 0.65	XBP

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
AIFF	4.05	(1.47)	0.00	(0.43)	0.00	0.00	5.99	(8.74)	27.53
NTCL	7.26	(0.95)	0.00	0.54	0.00	0.00	12.50	(16.36)	71.43
SAGT	3.85	(0.34)	0.00	(0.44)	0.00	0.00	8.70	(7.88)	32.59
NVNI	4.65	(0.96)	0.00	(0.64)	0.00	0.00	10.23	(9.31)	57.59
MNDO	1.48	0.14	0.04	0.47	1.69	(1.99)	3.51	(3.36)	15.74
RMSG	4.98	(1.48)	0.00	(21.15)	0.00	0.00	10.13	(14.71)	39.23
ANY	4.15	(2.05)	0.00	(0.82)	0.00	0.00	8.51	(8.57)	28.18
XBP	4.47	0.38	0.07	0.28	6.30	(4.75)	10.98	(7.69)	34.75
UTSI	2.34	0.15	0.01	(0.47)	2.96	(3.23)	4.66	(4.56)	22.59
CXAI	5.45	(1.53)	0.00	(1.00)	0.00	0.00	10.00	(13.21)	37.34

Nextplat Corp Corporate Management

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

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