Ryde Correlations

RYDE Stock

0.24 0.01 4.35%

The current 90-days correlation between Ryde Group and Nvni Group Limited is 0.17 (i.e., Average diversification). The correlation of Ryde 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.

Ryde Correlation With Market

Pay attention - limited upside

The correlation between Ryde Group and DJI is -0.74 (i.e., Pay attention - limited upside) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Ryde Group and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Ryde Stock

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

Moving together with Ryde Stock

0.71	AIZ	Air New Zealand	Pair Corr
0.66	AQZ	Alliance Aviation	Pair Corr
0.88	JTAI	JetAI Inc	Pair Corr

Moving against Ryde Stock

0.85	IAG	International Consolidated	Pair Corr
0.8	CIAH	China Eastern Airlines	Pair Corr
0.79	VLRS	Volaris Earnings Call This Week	Pair Corr
0.79	LHA	Deutsche Lufthansa Earnings Call This Week	Pair Corr
0.79	LUV	Southwest Airlines	Pair Corr
0.78	QAN	Qantas Airways	Pair Corr
0.71	AD2B	AIR CHINA LTD	Pair Corr
0.71	FQZ	AIR FRANCE KLM	Pair Corr
0.7	CPA	Copa Holdings SA Downward Rally	Pair Corr
0.65	ALK	Alaska Air Group	Pair Corr
0.65	LTM	LATAM Airlines Group	Pair Corr
0.58	DAL	Delta Air Lines	Pair Corr
0.32	EJT1	Easyjet Plc	Pair Corr
0.89	INR	International Consolidated	Pair Corr
0.84	2CDA	Controladora Vuela Compaa	Pair Corr
0.83	SWN	Southwest Airlines	Pair Corr
0.78	WI20	WIZZ AIR HLDGUNSPADR4	Pair Corr
0.77	10N	Enter Air Sp	Pair Corr
0.76	ZNHH	China Southern Airlines	Pair Corr
0.73	6X2	SUN NTRY AIRLHLD	Pair Corr
0.71	0ON	EXCHANGE INCOME P	Pair Corr
0.67	UAL	United Airlines Holdings	Pair Corr
0.65	JAW	JetBlue Airways	Pair Corr
0.62	55AA	Asia Aviation Public	Pair Corr
0.62	JBLU	JetBlue Airways Corp	Pair Corr
0.58	JAL	Japan Airlines	Pair Corr
0.83	QAN	Qantas Airways	Pair Corr
0.8	LHA	Deutsche Lufthansa Earnings Call This Week	Pair Corr
0.78	WI2	Wizz Air Holdings	Pair Corr
0.76	8BA	Bangkok Airways Public	Pair Corr
0.75	AD2	Air China Limited	Pair Corr
0.74	WIZZ	Wizz Air Holdings	Pair Corr

Related Correlations Analysis

	NVNI	WCT	SOPA	MTC	MYSE	IDAI	AIXI	IFBD	SMSI
NVNI		0.83	0.27	-0.73	0.67	0.85	0.8	0.3	0.79	NVNI
WCT	0.83		-0.11	-0.64	0.66	0.66	0.96	0.24	0.72	WCT
SOPA	0.27	-0.11		-0.43	-0.17	0.54	-0.08	-0.01	0.37	SOPA
MTC	-0.73	-0.64	-0.43		-0.45	-0.82	-0.63	0.12	-0.83	MTC
MYSE	0.67	0.66	-0.17	-0.45		0.52	0.63	0.14	0.59	MYSE
IDAI	0.85	0.66	0.54	-0.82	0.52		0.63	0.14	0.85	IDAI
AIXI	0.8	0.96	-0.08	-0.63	0.63	0.63		0.28	0.7	AIXI
IFBD	0.3	0.24	-0.01	0.12	0.14	0.14	0.28		0.05	IFBD
SMSI	0.79	0.72	0.37	-0.83	0.59	0.85	0.7	0.05		SMSI
	NVNI	WCT	SOPA	MTC	MYSE	IDAI	AIXI	IFBD	SMSI

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

AIXI	+ 0.96	WCT
IDAI	+ 0.85	NVNI
SMSI	+ 0.85	IDAI
WCT	+ 0.83	NVNI
AIXI	+ 0.8	NVNI
SMSI	+ 0.79	NVNI

High negative correlations

SMSI	- 0.83	MTC
IDAI	- 0.82	MTC
MTC	- 0.73	NVNI
MTC	- 0.64	WCT
AIXI	- 0.63	MTC
MYSE	- 0.45	MTC

Risk-Adjusted Indicators

There is a big difference between Ryde Stock performing well and Ryde 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 Ryde'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
NVNI	4.83	(1.19)	0.00	(0.57)	0.00	0.00	13.19	(11.35)	57.59
WCT	4.10	(0.94)	0.00	(0.30)	0.00	0.00	7.69	(10.53)	39.08
SOPA	10.25	0.26	0.02	3.41	11.10	(13.80)	27.13	(19.47)	91.61
MTC	5.21	0.90	0.19	0.36	4.84	(5.82)	16.35	(7.97)	30.36
MYSE	4.25	0.09	0.02	0.16	4.79	(5.03)	9.29	(8.21)	25.91
IDAI	4.05	(0.53)	0.00	(0.51)	0.00	0.00	8.12	(7.27)	20.52
AIXI	5.53	(1.80)	0.00	(0.84)	0.00	0.00	9.52	(10.71)	32.45
IFBD	5.03	0.18	0.03	0.34	4.98	(6.88)	12.50	(9.35)	57.92
SMSI	2.87	(0.21)	0.00	(0.02)	0.00	0.00	5.56	(6.35)	18.82

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