SmartRent Correlations

SMRT Stock

USD 2.02 0.01 0.49%

The current 90-days correlation between SmartRent and A2Z Smart Technologies is 0.07 (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 0.25 (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

0.82	U	Unity Software	Pair Corr
0.84	BGE	Bridge Saas	Pair Corr
0.67	BL	Blackline	Pair Corr
0.91	NN	Nextnav Acquisition Corp	Pair Corr
0.69	ZM	Zoom Video Communications Sell-off Trend	Pair Corr
0.84	DTST	Data Storage Corp	Pair Corr

Moving against SmartRent Stock

0.88	DSG	Dillistone Group	Pair Corr
0.78	688078	Beijing LongRuan Tec	Pair Corr
0.74	DT	Dynatrace Holdings LLC	Pair Corr
0.66	PD	Pagerduty	Pair Corr
0.63	VS	Versus Systems	Pair Corr
0.47	QH	Quhuo	Pair Corr
0.36	JG	Aurora Mobile	Pair Corr
0.32	MTLO	Martello Technologies	Pair Corr
0.91	DOMO	Domo Inc	Pair Corr
0.79	600588	Yonyou Network Technology	Pair Corr
0.77	002410	Glodon Software	Pair Corr
0.53	VERX	Vertex	Pair Corr
0.4	DMRC	Digimarc	Pair Corr
0.7	EGAN	eGain	Pair Corr
0.64	VRAR	Glimpse Group	Pair Corr
0.63	MSFT	Microsoft Corp CDR	Pair Corr
0.61	VTEX	VTEX	Pair Corr
0.6	IOM	iomart Group plc	Pair Corr
0.58	ARC	Arcontech Group Plc	Pair Corr

Related Correlations Analysis

	AZ	ALTS	OCFT	EGHT	ONTF	ASUR	UIS	WALD	TRAK	MRT
AZ		0.59	0.54	-0.28	0.03	0.0	0.78	-0.15	0.29	0.01	AZ
ALTS	0.59		0.03	-0.45	-0.48	-0.49	0.72	-0.24	0.5	0.44	ALTS
OCFT	0.54	0.03		0.22	0.24	0.55	0.58	-0.48	0.06	-0.16	OCFT
EGHT	-0.28	-0.45	0.22		0.36	0.42	-0.25	-0.06	-0.34	-0.01	EGHT
ONTF	0.03	-0.48	0.24	0.36		0.62	-0.16	-0.02	0.01	-0.61	ONTF
ASUR	0.0	-0.49	0.55	0.42	0.62		0.06	-0.41	-0.08	-0.51	ASUR
UIS	0.78	0.72	0.58	-0.25	-0.16	0.06		-0.5	0.47	0.1	UIS
WALD	-0.15	-0.24	-0.48	-0.06	-0.02	-0.41	-0.5		-0.49	0.04	WALD
TRAK	0.29	0.5	0.06	-0.34	0.01	-0.08	0.47	-0.49		0.04	TRAK
MRT	0.01	0.44	-0.16	-0.01	-0.61	-0.51	0.1	0.04	0.04		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

UIS	+ 0.78	AZ
UIS	+ 0.72	ALTS
ASUR	+ 0.62	ONTF
ALTS	+ 0.59	AZ
UIS	+ 0.58	OCFT
ASUR	+ 0.55	OCFT

High negative correlations

MRT	- 0.61	ONTF
MRT	- 0.51	ASUR
WALD	- 0.5	UIS
TRAK	- 0.49	WALD
ASUR	- 0.49	ALTS
WALD	- 0.48	OCFT

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	3.48	(0.33)	0.00	(0.07)	0.00	0.00	7.24	(7.12)	25.03
ALTS	5.32	(1.51)	0.00	(0.38)	0.00	0.00	9.57	(10.70)	30.44
OCFT	0.43	0.12	0.00	13.05	0.00	0.00	1.56	(1.45)	3.11
EGHT	2.51	(0.11)	(0.01)	0.00	3.31	(2.79)	4.23	(5.94)	34.75
ONTF	2.55	0.57	0.25	0.37	1.99	(3.26)	4.60	(3.75)	17.86
ASUR	1.63	0.15	0.09	0.17	1.60	(2.02)	3.22	(3.13)	13.40
UIS	2.25	(0.63)	0.00	(0.19)	0.00	0.00	4.18	(3.94)	24.72
WALD	3.77	0.14	0.02	(1.14)	4.23	(4.31)	7.58	(6.49)	33.33
TRAK	1.97	(0.46)	0.00	(24.70)	0.00	0.00	3.75	(4.74)	11.18
MRT	2.56	0.18	0.06	0.25	2.49	(3.48)	7.66	(4.55)	24.73

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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