Runway Growth Correlations

RWAYZ Stock

25.19 0.06 0.24%

The current 90-days correlation between Runway Growth Finance and MSCI ACWI exAUCONSUMER is 0.4 (i.e., Very weak diversification). The correlation of Runway Growth 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.

Runway Growth Correlation With Market

Good diversification

The correlation between Runway Growth Finance and DJI is -0.08 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Runway Growth Finance 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 Runway Growth Finance. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in manufacturing.

Moving together with Runway Stock

0.71	BML-PG	Bank of America	Pair Corr
0.66	BML-PH	Bank of America	Pair Corr
0.64	BML-PJ	Bank of America	Pair Corr
0.73	BML-PL	Bank of America	Pair Corr
0.63	CFG-PH	Citizens Financial Group,	Pair Corr
0.7	KEY-PK	KeyCorp	Pair Corr
0.76	KEY-PL	KeyCorp	Pair Corr
0.68	SYF-PB	Synchrony Financial	Pair Corr
0.84	WSBCP	WesBanco	Pair Corr
0.83	OCFCP	OceanFirst Financial Corp	Pair Corr
0.79	FMCC	Federal Home Loan	Pair Corr
0.79	FNMA	Federal National Mortgage	Pair Corr
0.84	CUBI-PE	Customers Bancorp	Pair Corr
0.88	CUBI-PF	Customers Bancorp	Pair Corr
0.69	FSTF	First State Financial	Pair Corr

Moving against Runway Stock

0.47	TFC-PO	Truist Financial	Pair Corr
0.41	TFC-PR	Truist Financial	Pair Corr
0.37	CFG-PE	Citizens Financial	Pair Corr
0.34	WBBW	Westbury Bancorp	Pair Corr
0.31	FIFG	First Foods Group	Pair Corr
0.69	BYU	BAIYU Holdings	Pair Corr
0.65	FSUN	FirstSun Capital Bancorp	Pair Corr
0.63	HARL	Harleysville Financial	Pair Corr
0.53	JPM-PM	JPMorgan Chase	Pair Corr
0.46	JPM-PK	JPMorgan Chase	Pair Corr
0.46	JPM-PL	JPMorgan Chase	Pair Corr
0.41	FRBK	Republic First Bancorp	Pair Corr
0.38	JPM-PJ	JPMorgan Chase	Pair Corr

Related Correlations Analysis

	RWAYL	HROWL	TRINL	RILYM	BWSN
RWAYL		0.84	0.89	0.7	0.73	RWAYL
HROWL	0.84		0.79	0.85	0.84	HROWL
TRINL	0.89	0.79		0.68	0.67	TRINL
RILYM	0.7	0.85	0.68		0.73	RILYM
BWSN	0.73	0.84	0.67	0.73		BWSN
	RWAYL	HROWL	TRINL	RILYM	BWSN

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Risk-Adjusted Indicators

There is a big difference between Runway Stock performing well and Runway Growth 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 Runway Growth'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
RWAYL	0.12	0.02	(0.45)	2.53	0.00	(0.16)	0.24	(0.20)	1.20
HROWL	0.21	0.02	(0.33)	(1.76)	0.17	(0.24)	0.48	(0.40)	1.60
TRINL	0.12	0.01	(0.45)	0.31	0.00	(0.14)	0.24	(0.28)	1.15
RILYM	2.52	0.37	0.07	(0.74)	2.70	(2.90)	3.59	(3.96)	28.41
BWSN	0.61	0.15	0.03	(2.71)	0.70	(0.67)	1.37	(1.41)	4.68

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