NextPlat Corp Correlations

Stocks . USA . 
Stock . NextPlat Corp
NXPLW Stock  USD 0.17  0.01  5.56%   
The current 90-days correlation between NextPlat Corp and HeartCore Enterprises is -0.03 (i.e., Good diversification). The correlation of NextPlat Corp 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.

NextPlat Corp Correlation With Market

Good diversification

The correlation between NextPlat Corp and DJI is -0.17 (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 bureau of economic analysis.
For more information on how to buy NextPlat Stock please use our How to Invest in NextPlat Corp guide.

Moving together with NextPlat Stock

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Moving against NextPlat Stock

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Related Correlations Analysis

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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   
FRGT
+ 0.78
QH
CXAI
+ 0.73
HTCR
IDAI
+ 0.72
IFBD
IDAI
+ 0.62
HTCR
IDAI
+ 0.57
CXAI
CXAI
+ 0.56
IFBD
  
High negative correlations   
MTC
- 0.67
HTCR
MTC
- 0.54
IDAI
MTC
- 0.52
CXAI
MTC
- 0.44
IFBD
VS
- 0.1
IFBD
MTC
- 0.01
VS

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.

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