Sound Point Correlations

SPME Stock

25.23 0.05 0.20%

The current 90-days correlation between Sound Point Meridian and X FAB Silicon Foundries is -0.01 (i.e., Good diversification). The correlation of Sound Point 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.

Sound Point Correlation With Market

Very poor diversification

The correlation between Sound Point Meridian and DJI is 0.8 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Sound Point Meridian and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Sound Stock

Check out World Market Map to better understand how to build diversified portfolios, which includes a position in Sound Point Meridian. 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.

Moving together with Sound Stock

0.84	BK	Bank of New York	Pair Corr
0.7	APO	Apollo Global Management	Pair Corr
0.87	IVSBF	Investor AB ser	Pair Corr
0.91	IVSXF	Investor AB	Pair Corr
0.67	ARES	Ares Management LP	Pair Corr
0.76	AMP	Ameriprise Financial Earnings Call This Week	Pair Corr
0.66	PPERY	Bank Mandiri Persero	Pair Corr
0.69	PPERF	Bank Mandiri Persero	Pair Corr
0.63	KB	KB Financial Group	Pair Corr
0.74	WF	Woori Financial Group	Pair Corr
0.83	CRBBF	Corby Spirit	Pair Corr
0.77	LFST	Lifestance Health	Pair Corr
0.89	ALB-PA	Albemarle	Pair Corr
0.83	VYNE	Vyne Therapeutics	Pair Corr
0.66	FNKO	Funko Inc	Pair Corr
0.75	UNJCF	Unicaja Banco SA	Pair Corr
0.73	PZG	Paramount Gold Nevada Buyout Trend	Pair Corr
0.74	PPTTF	Perpetual Limited	Pair Corr
0.82	STWC	STWC Holdings	Pair Corr
0.8	WZZZY	Wizz Air Holdings	Pair Corr
0.79	LNTH	Lantheus Holdings	Pair Corr
0.67	CDLR	Cadeler AS	Pair Corr
0.75	DOW	Dow Inc Earnings Call This Week	Pair Corr
0.85	IMCI	Infinite Group Common	Pair Corr
0.67	FLXS	Flexsteel Industries	Pair Corr
0.81	RNECF	Renesas Electronics	Pair Corr

Moving against Sound Stock

0.78	PBCRY	Bank Central Asia	Pair Corr
0.45	PBCRF	PT Bank Central Earnings Call Today	Pair Corr
0.44	BKRKF	PT Bank Rakyat	Pair Corr
0.56	EGDD	Eastern Goldfields	Pair Corr

Related Correlations Analysis

	EMN	EQTL	ICL	PTGCF	WLKP	SIMO	XFABF
EMN		0.62	-0.21	-0.11	0.88	0.74	0.22	EMN
EQTL	0.62		-0.35	0.01	0.73	0.39	0.11	EQTL
ICL	-0.21	-0.35		0.64	-0.22	0.18	0.61	ICL
PTGCF	-0.11	0.01	0.64		-0.01	0.06	0.8	PTGCF
WLKP	0.88	0.73	-0.22	-0.01		0.77	0.27	WLKP
SIMO	0.74	0.39	0.18	0.06	0.77		0.39	SIMO
XFABF	0.22	0.11	0.61	0.8	0.27	0.39		XFABF
	EMN	EQTL	ICL	PTGCF	WLKP	SIMO	XFABF

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

WLKP	+ 0.88	EMN
XFABF	+ 0.8	PTGCF
SIMO	+ 0.77	WLKP
SIMO	+ 0.74	EMN
WLKP	+ 0.73	EQTL
PTGCF	+ 0.64	ICL

High negative correlations

ICL	- 0.35	EQTL
WLKP	- 0.22	ICL
ICL	- 0.21	EMN
PTGCF	- 0.11	EMN
WLKP	- 0.01	PTGCF

Risk-Adjusted Indicators

There is a big difference between Sound Stock performing well and Sound Point 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 Sound Point'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
EMN	1.67	0.10	0.07	0.13	1.80	(1.87)	4.94	(3.60)	9.74
EQTL	1.03	0.30	0.00	(0.32)	0.00	0.00	4.00	0.00	21.57
ICL	1.59	(0.22)	0.00	(0.25)	0.00	0.00	3.07	(3.62)	21.00
PTGCF	0.96	(0.52)	0.00	(1.74)	0.00	0.00	0.00	0.00	32.29
WLKP	1.10	0.07	0.04	0.15	1.23	(1.27)	2.81	(1.86)	8.30
SIMO	2.37	0.22	0.08	0.25	2.64	(2.59)	4.32	(5.47)	23.47
XFABF	1.60	(0.32)	0.00	(0.29)	0.00	0.00	4.77	(5.20)	17.42

Sound Point Corporate Management

Kevin Gerlitz	Chief Officer	Profile
Andrea JD	Corporate Secretary	Profile
Lucas Foss	Chief Officer	Profile
Joshua Harris	Head Accounting	Profile
Daniel Fabian	Chief Officer	Profile

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