SmartRent Correlations

SMRT Stock

USD 1.84 0.03 1.60%

The current 90-days correlation between SmartRent and A2Z Smart Technologies is 0.01 (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

Modest diversification

The correlation between SmartRent and DJI is 0.2 (i.e., Modest 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 signals in population.

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

Moving together with SmartRent Stock

0.78	ZM	Zoom Video Communications	Pair Corr
0.9	MGIC	Magic Software Enter	Pair Corr
0.72	RDZN	Roadzen	Pair Corr
0.66	TLKMF	Telkom Indonesia Tbk	Pair Corr
0.64	PTAIY	Astra International Tbk	Pair Corr
0.61	KEP	Korea Electric Power	Pair Corr
0.92	FTV	Fortive Corp	Pair Corr
0.89	ADAMI	New York Mortgage Symbol Change	Pair Corr
0.76	MCD	McDonalds	Pair Corr
0.68	CAT	Caterpillar	Pair Corr
0.91	WMT	Walmart Common Stock	Pair Corr
0.75	CSCO	Cisco Systems	Pair Corr
0.83	MRK	Merck Company Sell-off Trend	Pair Corr

Moving against SmartRent Stock

0.8	UPLD	Upland Software	Pair Corr
0.78	TTD	Trade Desk	Pair Corr
0.71	RXT	Rackspace Technology	Pair Corr
0.65	DDOG	Datadog	Pair Corr
0.65	PIFMY	Indofood Sukses Makmur	Pair Corr
0.6	SAP	SAP SE ADR	Pair Corr
0.57	CLSK	CleanSpark Aggressive Push	Pair Corr
0.54	JG	Aurora Mobile	Pair Corr
0.54	PTAIF	PT Astra International	Pair Corr
0.74	PG	Procter Gamble	Pair Corr
0.63	HD	Home Depot Sell-off Trend	Pair Corr
0.61	T	ATT Inc	Pair Corr
0.56	HPQ	HP Inc	Pair Corr

Related Correlations Analysis

	AZ	ALTS	OCFT	EGHT	ONTF	ASUR	UIS	WALD	TRAK	MRT
AZ		0.45	-0.36	-0.28	0.3	0.14	0.65	-0.27	0.04	-0.07	AZ
ALTS	0.45		-0.83	-0.41	-0.48	-0.52	0.73	-0.14	0.78	0.36	ALTS
OCFT	-0.36	-0.83		0.63	0.58	0.56	-0.69	0.0	-0.78	-0.25	OCFT
EGHT	-0.28	-0.41	0.63		0.17	0.25	-0.22	-0.02	-0.29	0.02	EGHT
ONTF	0.3	-0.48	0.58	0.17		0.7	-0.23	-0.28	-0.69	-0.45	ONTF
ASUR	0.14	-0.52	0.56	0.25	0.7		-0.02	-0.55	-0.49	-0.46	ASUR
UIS	0.65	0.73	-0.69	-0.22	-0.23	-0.02		-0.4	0.61	0.05	UIS
WALD	-0.27	-0.14	0.0	-0.02	-0.28	-0.55	-0.4		-0.21	0.07	WALD
TRAK	0.04	0.78	-0.78	-0.29	-0.69	-0.49	0.61	-0.21		0.42	TRAK
MRT	-0.07	0.36	-0.25	0.02	-0.45	-0.46	0.05	0.07	0.42		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

TRAK	+ 0.78	ALTS
UIS	+ 0.73	ALTS
ASUR	+ 0.7	ONTF
UIS	+ 0.65	AZ
EGHT	+ 0.63	OCFT
TRAK	+ 0.61	UIS

High negative correlations

OCFT	- 0.83	ALTS
TRAK	- 0.78	OCFT
TRAK	- 0.69	ONTF
UIS	- 0.69	OCFT
WALD	- 0.55	ASUR
ASUR	- 0.52	ALTS

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	3.57	(0.04)	0.02	0.05	4.87	(3.52)	7.60	(7.12)	25.03
ALTS	5.70	(1.06)	0.00	(0.18)	0.00	0.00	10.77	(10.70)	30.44
OCFT	0.57	0.08	0.04	0.35	0.52	(0.79)	1.55	(1.11)	4.57
EGHT	2.49	(0.15)	0.00	(0.01)	0.00	0.00	4.23	(5.94)	34.75
ONTF	2.43	0.51	0.24	0.38	1.88	(3.17)	4.60	(3.75)	38.78
ASUR	1.65	0.24	0.09	(0.70)	1.68	(1.99)	3.22	(3.50)	13.40
UIS	2.38	(0.57)	0.00	(0.16)	0.00	0.00	4.55	(4.59)	24.72
WALD	3.85	(0.18)	0.00	0.53	0.00	0.00	7.58	(7.46)	33.33
TRAK	1.80	(0.40)	0.00	(15.73)	0.00	0.00	3.08	(4.53)	9.78
MRT	2.19	(0.10)	0.00	(0.10)	0.00	0.00	7.59	(4.26)	19.78

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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