Socket Mobile Correlations

SCKT Stock

USD 1.15 0.11 10.58%

The current 90-days correlation between Socket Mobile and Orangekloud Technology Class is 0.02 (i.e., Significant diversification). The correlation of Socket Mobile 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.

Socket Mobile Correlation With Market

Very good diversification

The correlation between Socket Mobile and DJI is -0.45 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Socket Mobile and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Socket Stock

Check out World Market Map to better understand how to build diversified portfolios, which includes a position in Socket Mobile. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in industry.

For more information on how to buy Socket Stock please use our How to Invest in Socket Mobile guide.

Moving against Socket Stock

0.52	ALLOG	Logic Instrume	Pair Corr
0.38	HPE	Hewlett Packard Ente	Pair Corr
0.41	ELMN	Elma Electronic AG	Pair Corr
0.39	ALOT	AstroNova	Pair Corr
0.39	ALORD	Ordissimo	Pair Corr
0.31	WBT	Weebit Nano Earnings Call This Week	Pair Corr

Related Correlations Analysis

	ORKT	USBC	AGMH	CYCU	RVYL	FEBO	VS	PRSO	IOTR	LGCL
ORKT		-0.06	0.0	0.02	0.32	-0.46	-0.22	-0.22	-0.03	0.19	ORKT
USBC	-0.06		0.93	0.92	0.76	-0.22	0.8	0.26	-0.07	0.83	USBC
AGMH	0.0	0.93		0.93	0.82	-0.37	0.81	0.28	-0.1	0.84	AGMH
CYCU	0.02	0.92	0.93		0.75	-0.35	0.8	0.27	-0.12	0.81	CYCU
RVYL	0.32	0.76	0.82	0.75		-0.67	0.54	0.03	-0.04	0.77	RVYL
FEBO	-0.46	-0.22	-0.37	-0.35	-0.67		-0.08	0.16	0.1	-0.34	FEBO
VS	-0.22	0.8	0.81	0.8	0.54	-0.08		0.29	0.15	0.72	VS
PRSO	-0.22	0.26	0.28	0.27	0.03	0.16	0.29		0.23	0.35	PRSO
IOTR	-0.03	-0.07	-0.1	-0.12	-0.04	0.1	0.15	0.23		0.1	IOTR
LGCL	0.19	0.83	0.84	0.81	0.77	-0.34	0.72	0.35	0.1		LGCL
	ORKT	USBC	AGMH	CYCU	RVYL	FEBO	VS	PRSO	IOTR	LGCL

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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

AGMH	+ 0.93	USBC
CYCU	+ 0.93	AGMH
CYCU	+ 0.92	USBC
LGCL	+ 0.84	AGMH
LGCL	+ 0.83	USBC
RVYL	+ 0.82	AGMH

High negative correlations

FEBO	- 0.67	RVYL
FEBO	- 0.46	ORKT
FEBO	- 0.37	AGMH
FEBO	- 0.35	CYCU
LGCL	- 0.34	FEBO
FEBO	- 0.22	USBC

Risk-Adjusted Indicators

There is a big difference between Socket Stock performing well and Socket Mobile 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 Socket Mobile'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
ORKT	9.26	2.24	0.17	(0.93)	10.46	(12.32)	15.69	(15.66)	189.93
USBC	4.34	(0.94)	0.00	(0.37)	0.00	0.00	8.70	(7.35)	29.00
AGMH	3.56	(1.16)	0.00	(0.57)	0.00	0.00	4.00	(7.05)	33.60
CYCU	4.39	(1.45)	0.00	(0.78)	0.00	0.00	10.14	(8.92)	31.34
RVYL	6.46	(0.64)	0.00	(0.21)	0.00	0.00	12.77	(10.09)	36.92
FEBO	4.12	0.93	0.15	(20.71)	4.81	(4.60)	7.76	(9.02)	33.88
VS	2.39	(0.77)	0.00	(0.88)	0.00	0.00	3.97	(5.04)	21.78
PRSO	3.52	0.03	(0.01)	(0.07)	4.17	(4.33)	6.82	(7.69)	25.82
IOTR	8.01	0.49	0.05	1.05	9.79	(9.43)	12.12	(12.29)	99.77
LGCL	4.70	(0.16)	0.00	(0.08)	0.00	0.00	10.50	(9.09)	31.37

Socket Mobile Corporate Management

Eric Glaenzer	VP Officer	Profile
Leonard Ott	Chief Technical Officer and VP of Engineering	Profile
David Holmes	Chief Officer	Profile
Flora Chu	General Counsel	Profile

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