SKYX Platforms Correlations

SKYX Stock

USD 1.05 0.05 5.00%

The current 90-days correlation between SKYX Platforms Corp and Espey Mfg Electronics is 0.06 (i.e., Significant diversification). The correlation of SKYX Platforms 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.

SKYX Platforms Correlation With Market

Average diversification

The correlation between SKYX Platforms Corp 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 SKYX Platforms Corp and DJI in the same portfolio, assuming nothing else is changed.

Check out World Market Map to better understand how to build diversified portfolios, which includes a position in SKYX Platforms Corp. 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 SKYX Stock

0.74	AYI	Acuity Brands	Pair Corr
0.77	EAF	GrafTech International	Pair Corr
0.82	ESP	Espey Mfg Electronics	Pair Corr
0.71	GWH	ESS Tech Upward Rally	Pair Corr
0.72	NVT	nVent Electric PLC	Pair Corr
0.72	NVX	Novonix Ltd ADR	Pair Corr
0.62	NXU	Nxu Inc	Pair Corr
0.63	VRT	Vertiv Holdings Downward Rally	Pair Corr
0.72	HUBB	Hubbell	Pair Corr
0.79	LTBR	Lightbridge Corp	Pair Corr
0.64	ADSEW	ADS TEC ENERGY	Pair Corr

Moving against SKYX Stock

0.67	XPON	Expion360	Pair Corr
0.62	FCEL	FuelCell Energy Upward Rally	Pair Corr
0.34	EPOW	Sunrise New Energy	Pair Corr
0.32	FLUX	Flux Power Holdings	Pair Corr
0.6	OPTT	Ocean Power Technologies	Pair Corr
0.57	WBX	Wallbox NV	Pair Corr
0.5	XNNHQ	Xenonics Holdings	Pair Corr
0.61	TTDKY	TDK Corp ADR	Pair Corr
0.58	QBAK	Qualstar	Pair Corr

Related Correlations Analysis

	ESP	NEOVW	KE	HAYW	ADSE	HOLI	ENR	NEOV	AEIS
ESP		0.45	0.38	0.69	0.75	0.0	0.54	0.34	0.67	ESP
NEOVW	0.45		0.6	0.58	0.38	0.63	0.8	0.85	0.62	NEOVW
KE	0.38	0.6		0.69	0.28	0.59	0.58	0.7	0.72	KE
HAYW	0.69	0.58	0.69		0.52	0.43	0.7	0.55	0.82	HAYW
ADSE	0.75	0.38	0.28	0.52		0.04	0.56	0.22	0.57	ADSE
HOLI	0.0	0.63	0.59	0.43	0.04		0.49	0.7	0.37	HOLI
ENR	0.54	0.8	0.58	0.7	0.56	0.49		0.68	0.71	ENR
NEOV	0.34	0.85	0.7	0.55	0.22	0.7	0.68		0.46	NEOV
AEIS	0.67	0.62	0.72	0.82	0.57	0.37	0.71	0.46		AEIS
	ESP	NEOVW	KE	HAYW	ADSE	HOLI	ENR	NEOV	AEIS

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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

NEOV	+ 0.85	NEOVW
AEIS	+ 0.82	HAYW
ENR	+ 0.8	NEOVW
ADSE	+ 0.75	ESP
AEIS	+ 0.72	KE
AEIS	+ 0.71	ENR

High negative correlations

HOLI

- 0.0

ESP

Risk-Adjusted Indicators

There is a big difference between SKYX Stock performing well and SKYX Platforms 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 SKYX Platforms' 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
ESP	2.16	0.37	0.15	0.57	2.00	(2.48)	4.89	(3.29)	26.01
NEOVW	7.64	2.14	0.23	1.01	6.32	(11.96)	22.81	(14.74)	75.07
KE	1.63	(0.05)	0.02	0.09	1.71	(1.91)	3.85	(3.18)	11.84
HAYW	1.35	0.10	0.04	0.27	1.29	(1.62)	4.12	(2.23)	8.61
ADSE	2.23	0.15	0.02	0.67	3.13	(2.36)	6.43	(4.50)	16.73
HOLI	1.21	0.18	0.01	(0.36)	1.72	(1.24)	2.60	(3.35)	19.49
ENR	1.07	0.34	0.17	1.60	1.06	(1.28)	2.67	(1.29)	12.72
NEOV	4.44	1.18	0.23	1.27	4.55	(5.01)	11.11	(7.32)	21.90
AEIS	1.50	(0.11)	0.00	0.06	1.89	(1.57)	3.85	(2.92)	9.74

SKYX Platforms Corporate Management

Eliran BenZikri	CTO Office	Profile
Mark Wells	Pres Lighting	Profile
Jonathan Globerson	Vice Marketing	Profile
Rob Powell	Chief Counsel	Profile
Steven Schmidt	President	Profile
Michael Perrillo	Vice Sales	Profile
Steve Briggs	Senior Development	Profile

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