Purple Innovation Correlations

PRPL Stock

USD 0.74 0.04 5.71%

The current 90-days correlation between Purple Innovation and iRobot is 0.07 (i.e., Significant diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Purple Innovation moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Purple Innovation moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Purple Innovation Correlation With Market

Average diversification

The correlation between Purple Innovation and DJI is 0.11 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Purple Innovation and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Purple Stock

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

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

Moving together with Purple Stock

0.61	603337	Jack Sewing	Pair Corr
0.88	603486	Ecovacs Robotics	Pair Corr
0.67	HELE	Helen of Troy	Pair Corr
0.65	IRBT	iRobot	Pair Corr
0.64	300249	Sichuan Yimikang Env	Pair Corr
0.74	200512	TsannKuen Enterprise	Pair Corr
0.63	002131	Leo Group	Pair Corr
0.71	ATER	Aterian	Pair Corr
0.64	000521	Changhong Meiling	Pair Corr
0.63	002543	Guangdong Vanward New	Pair Corr

Moving against Purple Stock

0.81	002005	Elec Tech International	Pair Corr
0.76	SHM	Shriro Holdings	Pair Corr
0.73	000333	Midea Group	Pair Corr
0.72	600690	Qingdao Haier	Pair Corr
0.66	002508	Hangzhou Robam Appliances	Pair Corr
0.59	002150	Jiangsu Tongrun Equipment	Pair Corr
0.32	000651	Gree Electric Appliances	Pair Corr
0.89	002759	Guangdong Tonze Electric	Pair Corr
0.81	KEP	Korea Electric Power	Pair Corr
0.8	PTITF	PT Indosat Tbk	Pair Corr
0.79	300272	Shanghai Canature	Pair Corr
0.75	TLK	Telkom Indonesia Tbk	Pair Corr
0.74	002668	Guangdong Homa Appliances	Pair Corr
0.73	300483	Sino Prima Gas	Pair Corr
0.72	002242	Joyoung	Pair Corr
0.72	PTAIY	Astra International Tbk	Pair Corr
0.63	EC	Ecopetrol SA ADR	Pair Corr
0.59	002677	Zhejiang Meida Industrial	Pair Corr
0.37	603355	Kingclean Electric	Pair Corr
0.31	TLKMF	Telkom Indonesia Tbk	Pair Corr

Related Correlations Analysis

	IRBT	NVFY	RRGB	FLL	LAZR	HOFT	LCUT	THCH	GRWG	QVCGA
IRBT		-0.52	0.63	0.28	0.57	-0.64	-0.22	0.05	0.38	0.52	IRBT
NVFY	-0.52		-0.92	-0.43	-0.66	0.4	0.1	-0.15	-0.28	-0.74	NVFY
RRGB	0.63	-0.92		0.43	0.77	-0.55	-0.22	0.17	0.3	0.75	RRGB
FLL	0.28	-0.43	0.43		0.03	0.3	0.46	-0.27	0.56	0.52	FLL
LAZR	0.57	-0.66	0.77	0.03		-0.7	-0.33	0.49	0.1	0.45	LAZR
HOFT	-0.64	0.4	-0.55	0.3	-0.7		0.71	-0.32	-0.02	-0.27	HOFT
LCUT	-0.22	0.1	-0.22	0.46	-0.33	0.71		-0.29	-0.01	0.14	LCUT
THCH	0.05	-0.15	0.17	-0.27	0.49	-0.32	-0.29		-0.31	-0.22	THCH
GRWG	0.38	-0.28	0.3	0.56	0.1	-0.02	-0.01	-0.31		0.36	GRWG
QVCGA	0.52	-0.74	0.75	0.52	0.45	-0.27	0.14	-0.22	0.36		QVCGA
	IRBT	NVFY	RRGB	FLL	LAZR	HOFT	LCUT	THCH	GRWG	QVCGA

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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

LAZR	+ 0.77	RRGB
QVCGA	+ 0.75	RRGB
LCUT	+ 0.71	HOFT
RRGB	+ 0.63	IRBT
LAZR	+ 0.57	IRBT
GRWG	+ 0.56	FLL

High negative correlations

RRGB	- 0.92	NVFY
QVCGA	- 0.74	NVFY
HOFT	- 0.7	LAZR
LAZR	- 0.66	NVFY
HOFT	- 0.64	IRBT
HOFT	- 0.55	RRGB

Risk-Adjusted Indicators

There is a big difference between Purple Stock performing well and Purple Innovation 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 Purple Innovation'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
IRBT	11.51	(2.12)	0.00	3.51	0.00	0.00	21.78	(33.87)	146.53
NVFY	4.41	1.92	0.38	(2.20)	3.04	(5.16)	11.36	(7.81)	68.23
RRGB	2.54	(0.80)	0.00	(0.44)	0.00	0.00	4.96	(6.37)	13.09
FLL	2.70	(0.37)	0.00	(0.38)	0.00	0.00	5.84	(5.09)	16.22
LAZR	11.96	(1.37)	0.00	(0.47)	0.00	0.00	17.05	(25.81)	236.06
HOFT	2.34	0.13	0.01	(0.75)	3.10	(2.22)	4.16	(4.20)	14.96
LCUT	2.80	0.10	0.00	(0.99)	3.35	(3.09)	6.01	(4.51)	21.40
THCH	2.15	(0.23)	0.00	2.16	0.00	0.00	4.18	(4.15)	16.21
GRWG	3.80	(0.23)	0.00	(0.36)	0.00	0.00	5.36	(6.32)	52.12
QVCGA	5.92	0.06	0.01	0.12	9.09	(6.28)	13.70	(9.58)	47.18

Purple Innovation Corporate Management

John IV	Chief Officer	Profile
Jeff Hutchings	Chief Officer	Profile
Tricia McDermottSpikes	Chief Secretary	Profile
Todd CPA	Chief Officer	Profile
Verdi III	Chief Officer	Profile
Robert DeMartini	CEO Director	Profile
Casey McGarvey	Chief Legal Officer	Profile

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