Phunware Correlations

Summary

PHUNWDelisted Stock

USD 0.20 0.00 0.00%

The current 90-days correlation between Phunware and Sweetgreen is 0.29 (i.e., Modest diversification). The correlation of Phunware 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.

Phunware Correlation With Market

Average diversification

The correlation between Phunware and DJI is 0.13 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Phunware and DJI in the same portfolio, assuming nothing else is changed.

Check out Your Equity Center to better understand how to build diversified portfolios. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in board of governors.

Moving together with Phunware Stock

0.79	KO	Coca Cola Aggressive Push	Pair Corr
0.79	JNJ	Johnson Johnson Sell-off Trend	Pair Corr
0.7	PFE	Pfizer Inc Aggressive Push	Pair Corr

Moving against Phunware Stock

0.82	BAC	Bank of America Fiscal Year End 10th of January 2025	Pair Corr
0.74	DIS	Walt Disney	Pair Corr
0.74	AXP	American Express Fiscal Year End 24th of January 2025	Pair Corr
0.73	JPM	JPMorgan Chase Fiscal Year End 10th of January 2025	Pair Corr
0.71	AA	Alcoa Corp Fiscal Year End 15th of January 2025	Pair Corr
0.71	TRV	The Travelers Companies Fiscal Year End 17th of January 2025	Pair Corr
0.69	FSTF	First State Financial	Pair Corr
0.61	HD	Home Depot	Pair Corr
0.58	CAT	Caterpillar Fiscal Year End 3rd of February 2025	Pair Corr

Related Correlations Analysis

	SG	DENN	AEG	MHLA	KNSL	PLYA	PLMR
SG		0.42	0.68	0.7	-0.18	0.62	0.11	SG
DENN	0.42		0.52	0.53	-0.23	0.43	0.06	DENN
AEG	0.68	0.52		0.77	-0.37	0.71	0.06	AEG
MHLA	0.7	0.53	0.77		-0.39	0.78	0.11	MHLA
KNSL	-0.18	-0.23	-0.37	-0.39		-0.03	0.67	KNSL
PLYA	0.62	0.43	0.71	0.78	-0.03		0.49	PLYA
PLMR	0.11	0.06	0.06	0.11	0.67	0.49		PLMR
	SG	DENN	AEG	MHLA	KNSL	PLYA	PLMR

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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

PLYA	+ 0.78	MHLA
MHLA	+ 0.77	AEG
PLYA	+ 0.71	AEG
MHLA	+ 0.7	SG
AEG	+ 0.68	SG
PLMR	+ 0.67	KNSL

High negative correlations

KNSL	- 0.39	MHLA
KNSL	- 0.37	AEG
KNSL	- 0.23	DENN
KNSL	- 0.18	SG
PLYA	- 0.03	KNSL

Risk-Adjusted Indicators

There is a big difference between Phunware Stock performing well and Phunware 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 Phunware'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
SG	3.29	0.12	0.08	0.17	3.33	(3.89)	7.39	(6.27)	15.89
DENN	2.45	(0.09)	0.00	0.07	3.74	(2.82)	5.26	(4.19)	26.32
AEG	1.10	(0.03)	(0.02)	0.09	1.25	(1.21)	2.61	(2.28)	6.29
MHLA	1.11	0.06	(0.02)	0.35	1.54	(1.24)	2.54	(2.45)	10.27
KNSL	1.38	(0.13)	(0.03)	0.04	1.98	(1.44)	2.57	(2.96)	9.90
PLYA	1.30	0.24	0.17	0.32	1.12	(1.42)	3.23	(2.00)	9.17
PLMR	1.56	0.00	0.03	0.12	1.82	(1.84)	4.52	(3.01)	12.94

Phunware Related Equities

One of the popular trading techniques among algorithmic traders is to use market-neutral strategies where every trade hedges away some risk. Because there are two separate transactions required, even if one position performs unexpectedly, the other equity can make up some of the losses. Below are some of the equities that can be combined with Phunware stock to make a market-neutral strategy. Peer analysis of Phunware could also be used in its relative valuation, which is a method of valuing Phunware by comparing valuation metrics with similar companies.

Sweetgreen Dennys Corp Aegon NV ADR Maiden Holdings Kinsale Capital Group Playa Hotels Resorts Palomar Holdings American Airlines Group Alcoa Corp Apple Inc Best Buy Co Citigroup SentinelOne CVS Health Corp Chevron Corp

Risk & Return

Correlation

Still Interested in Phunware?

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