SmartRent Correlations

SMRT Stock

USD 1.72 0.01 0.58%

The current 90-days correlation between SmartRent and A2Z Smart Technologies is 0.03 (i.e., Significant diversification). The correlation of SmartRent 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.

SmartRent Correlation With Market

Very weak diversification

The correlation between SmartRent and DJI is 0.54 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding SmartRent and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with SmartRent Stock

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

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

Moving together with SmartRent Stock

0.71	BMYMP	Bristol Myers Squibb Earnings Call Next Week	Pair Corr
0.69	AXP	American Express Earnings Call This Week	Pair Corr
0.71	WMT	Walmart Common Stock	Pair Corr
0.74	MCD	McDonalds	Pair Corr

Moving against SmartRent Stock

0.53	PG	Procter Gamble	Pair Corr
0.48	NVDA	NVIDIA Aggressive Push	Pair Corr
0.4	MSFT	Microsoft Aggressive Push	Pair Corr
0.36	T	ATT Inc Earnings Call This Week	Pair Corr
0.34	AMZN	Amazon Inc Earnings Call Next Week	Pair Corr

Related Correlations Analysis

	AZ	ALTS	OCFT	EGHT	ONTF	ASUR	UIS	WALD	TRAK	MRT
AZ		0.27	0.0	-0.5	0.66	0.55	0.52	-0.46	-0.67	-0.48	AZ
ALTS	0.27		0.0	-0.67	0.11	-0.02	0.39	-0.24	-0.02	-0.03	ALTS
OCFT	0.0	0.0		0.0	0.0	0.0	0.0	0.0	0.0	0.0	OCFT
EGHT	-0.5	-0.67	0.0		-0.38	-0.21	-0.15	0.25	0.5	0.47	EGHT
ONTF	0.66	0.11	0.0	-0.38		0.83	0.32	-0.52	-0.7	-0.52	ONTF
ASUR	0.55	-0.02	0.0	-0.21	0.83		0.47	-0.6	-0.63	-0.51	ASUR
UIS	0.52	0.39	0.0	-0.15	0.32	0.47		-0.59	-0.1	0.04	UIS
WALD	-0.46	-0.24	0.0	0.25	-0.52	-0.6	-0.59		0.32	0.35	WALD
TRAK	-0.67	-0.02	0.0	0.5	-0.7	-0.63	-0.1	0.32		0.84	TRAK
MRT	-0.48	-0.03	0.0	0.47	-0.52	-0.51	0.04	0.35	0.84		MRT
	AZ	ALTS	OCFT	EGHT	ONTF	ASUR	UIS	WALD	TRAK	MRT

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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

MRT	+ 0.84	TRAK
ASUR	+ 0.83	ONTF
ONTF	+ 0.66	AZ
ASUR	+ 0.55	AZ
UIS	+ 0.52	AZ
TRAK	+ 0.5	EGHT

High negative correlations

TRAK	- 0.7	ONTF
EGHT	- 0.67	ALTS
TRAK	- 0.67	AZ
TRAK	- 0.63	ASUR
WALD	- 0.6	ASUR
WALD	- 0.59	UIS

Risk-Adjusted Indicators

There is a big difference between SmartRent Stock performing well and SmartRent 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 SmartRent'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
AZ	3.61	0.03	0.02	0.08	5.31	(3.17)	7.60	(7.12)	25.03
ALTS	5.92	(0.01)	0.02	0.06	5.91	(7.69)	12.42	(9.49)	40.07
OCFT	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
EGHT	2.49	(0.16)	0.00	(0.02)	0.00	0.00	4.40	(4.84)	34.75
ONTF	2.19	0.69	0.28	(2.05)	1.45	(2.96)	4.60	(3.14)	38.78
ASUR	1.86	0.15	0.07	0.16	2.20	(2.11)	3.92	(3.51)	17.19
UIS	2.54	(0.49)	0.00	(0.13)	0.00	0.00	5.30	(4.18)	22.47
WALD	3.70	(0.02)	0.00	0.10	0.00	0.00	9.57	(6.49)	33.33
TRAK	1.62	(0.60)	0.00	(0.67)	0.00	0.00	2.07	(4.38)	9.78
MRT	2.19	(0.24)	0.00	(0.59)	0.00	0.00	4.98	(4.02)	20.93

SmartRent Corporate Management

Mitchell Karren	EVP Development	Profile
Wyron Bobis	Executive Operations	Profile
Isaiah DeroseWilson	CoFounder CTO	Profile
Brian Ruttenbur	Senior Relations	Profile
Michael Mcdonald	VP Treasurer	Profile
Evelyn Infurna	VP Relations	Profile

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