Primech Holdings Correlations

PMEC Stock

0.69 0.01 1.43%

The current 90-days correlation between Primech Holdings and FitLife Brands, Common is -0.13 (i.e., Good diversification). The correlation of Primech Holdings 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.

Primech Holdings Correlation With Market

Average diversification

The correlation between Primech Holdings Ltd and DJI is 0.1 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Primech Holdings Ltd and DJI in the same portfolio, assuming nothing else is changed.

Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in Primech Holdings Ltd. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in income.

Moving together with Primech Stock

0.63

HOG

Harley Davidson

Pair Corr

Moving against Primech Stock

0.41	JWN	Nordstrom	Pair Corr
0.4	FIGS	Figs Inc	Pair Corr
0.38	GTX	Garrett Motion Earnings Call This Week	Pair Corr
0.31	HMC	Honda Motor	Pair Corr

Related Correlations Analysis

	PAVS	SCSC	CELH	PRMB	SFD	TAP	FTLF	MRRTY
PAVS		-0.36	-0.58	0.75	0.17	-0.69	-0.39	-0.58	PAVS
SCSC	-0.36		0.45	-0.15	-0.57	0.61	0.49	0.45	SCSC
CELH	-0.58	0.45		-0.53	-0.3	0.38	0.36	0.48	CELH
PRMB	0.75	-0.15	-0.53		0.21	-0.35	-0.28	-0.08	PRMB
SFD	0.17	-0.57	-0.3	0.21		-0.24	-0.19	-0.08	SFD
TAP	-0.69	0.61	0.38	-0.35	-0.24		0.57	0.62	TAP
FTLF	-0.39	0.49	0.36	-0.28	-0.19	0.57		0.3	FTLF
MRRTY	-0.58	0.45	0.48	-0.08	-0.08	0.62	0.3		MRRTY
	PAVS	SCSC	CELH	PRMB	SFD	TAP	FTLF	MRRTY

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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

PRMB	+ 0.75	PAVS
MRRTY	+ 0.62	TAP
TAP	+ 0.61	SCSC
FTLF	+ 0.57	TAP
FTLF	+ 0.49	SCSC
MRRTY	+ 0.48	CELH

High negative correlations

TAP	- 0.69	PAVS
MRRTY	- 0.58	PAVS
CELH	- 0.58	PAVS
SFD	- 0.57	SCSC
PRMB	- 0.53	CELH
FTLF	- 0.39	PAVS

Risk-Adjusted Indicators

There is a big difference between Primech Stock performing well and Primech Holdings 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 Primech Holdings' 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
PAVS	2.50	0.72	0.18	(1.12)	2.46	(3.43)	4.58	(4.29)	27.68
SCSC	1.72	(0.15)	0.00	(0.17)	0.00	0.00	2.89	(3.66)	27.80
CELH	2.66	(0.54)	0.00	(0.34)	0.00	0.00	5.82	(5.49)	16.24
PRMB	1.51	0.46	0.19	(1.98)	1.37	(1.67)	4.05	(2.73)	8.75
SFD	2.42	0.62	0.00	(24.53)	0.00	0.00	6.34	(2.04)	7.97
TAP	1.18	(0.03)	(0.04)	0.03	1.76	(1.11)	2.61	(2.48)	10.66
FTLF	1.76	(0.06)	0.00	(0.03)	0.00	0.00	3.39	(4.46)	11.90
MRRTY	2.84	0.05	0.01	0.14	3.54	(3.25)	7.46	(5.69)	20.37

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