Taoping Correlations

TAOP Stock

USD 1.30 0.02 1.56%

The current 90-days correlation between Taoping and Paycom Software is -0.03 (i.e., Good diversification). The correlation of Taoping 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.

Taoping Correlation With Market

Excellent diversification

The correlation between Taoping and DJI is -0.7 (i.e., Excellent diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Taoping and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Taoping Stock

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

To learn how to invest in Taoping Stock, please use our How to Invest in Taoping guide.

Moving together with Taoping Stock

0.68	CD	Chaince Digital Holdings Symbol Change	Pair Corr
0.81	ETHZ	ETHZilla Symbol Change	Pair Corr
0.61	GLE	Global Engine Group	Pair Corr
0.76	RIME	Algorhythm Holdings	Pair Corr
0.88	AIFF	Firefly Neuroscience	Pair Corr

Moving against Taoping Stock

0.74	DTT0	DATATEC LTD 2	Pair Corr
0.54	DXYZ	Destiny Tech100	Pair Corr
0.49	DXC	DXC Technology Downward Rally	Pair Corr
0.46	EPAM	EPAM Systems Earnings Call This Week	Pair Corr
0.39	XTIA	XTI Aerospace	Pair Corr
0.38	BAH	Booz Allen Hamilton	Pair Corr
0.33	ACN	Accenture plc	Pair Corr
0.31	MI	NFT Limited Trending	Pair Corr
0.31	DOX	Amdocs	Pair Corr
0.63	SAIC	Science Applications	Pair Corr
0.56	FORTY	Formula Systems 1985	Pair Corr
0.52	COZ	Cognizant Technology	Pair Corr
0.52	20Y	Data3 Limited	Pair Corr
0.47	GOOG	Alphabet Class C	Pair Corr
0.45	CTSH	Cognizant Technology	Pair Corr
0.41	DTL	Data 3	Pair Corr
0.38	REM	Remsense Technologies	Pair Corr

Related Correlations Analysis

	DBX	AKAM	OTEX	NICE	EPAM	IDCC	CFLT	APPF	WIX	PAYC
DBX		-0.56	0.84	0.15	-0.38	0.32	-0.79	0.84	0.81	0.85	DBX
AKAM	-0.56		-0.69	-0.11	0.31	-0.23	0.43	-0.58	-0.58	-0.65	AKAM
OTEX	0.84	-0.69		0.16	-0.01	0.1	-0.49	0.93	0.74	0.96	OTEX
NICE	0.15	-0.11	0.16		-0.14	0.05	0.01	0.35	0.5	0.11	NICE
EPAM	-0.38	0.31	-0.01	-0.14		-0.56	0.69	-0.01	-0.35	0.01	EPAM
IDCC	0.32	-0.23	0.1	0.05	-0.56		-0.46	0.11	0.31	0.09	IDCC
CFLT	-0.79	0.43	-0.49	0.01	0.69	-0.46		-0.46	-0.52	-0.49	CFLT
APPF	0.84	-0.58	0.93	0.35	-0.01	0.11	-0.46		0.85	0.92	APPF
WIX	0.81	-0.58	0.74	0.5	-0.35	0.31	-0.52	0.85		0.73	WIX
PAYC	0.85	-0.65	0.96	0.11	0.01	0.09	-0.49	0.92	0.73		PAYC
	DBX	AKAM	OTEX	NICE	EPAM	IDCC	CFLT	APPF	WIX	PAYC

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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

PAYC	+ 0.96	OTEX
APPF	+ 0.93	OTEX
PAYC	+ 0.92	APPF
PAYC	+ 0.85	DBX
WIX	+ 0.85	APPF
OTEX	+ 0.84	DBX

High negative correlations

CFLT	- 0.79	DBX
OTEX	- 0.69	AKAM
PAYC	- 0.65	AKAM
WIX	- 0.58	AKAM
APPF	- 0.58	AKAM
IDCC	- 0.56	EPAM

Risk-Adjusted Indicators

There is a big difference between Taoping Stock performing well and Taoping 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 Taoping'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
DBX	1.31	(0.29)	0.00	(0.40)	0.00	0.00	2.53	(2.45)	15.22
AKAM	1.91	0.32	0.17	0.37	1.64	(2.31)	4.04	(2.80)	19.72
OTEX	1.61	(0.70)	0.00	(0.39)	0.00	0.00	1.61	(3.92)	8.89
NICE	1.74	(0.26)	0.00	(0.17)	0.00	0.00	3.24	(3.04)	18.80
EPAM	1.84	(0.01)	0.01	0.09	3.20	(1.72)	4.35	(3.96)	18.57
IDCC	1.97	(0.07)	0.00	(0.10)	0.00	0.00	5.50	(4.57)	16.69
CFLT	1.46	0.52	0.26	27.13	0.84	(1.70)	3.75	(2.75)	29.51
APPF	1.70	(0.62)	0.00	(0.36)	0.00	0.00	2.91	(5.00)	11.62
WIX	2.52	(0.96)	0.00	(1.32)	0.00	0.00	5.16	(4.83)	22.04
PAYC	1.52	(0.54)	0.00	(0.73)	0.00	0.00	2.58	(3.80)	9.96

Taoping Corporate Management

Liqiong Yan	Chief Officer	Profile
Yifu Liu	Ex VP	Profile
Huan Li	CMO Division	Profile
Junping Sun	Chief Investment Officer	Profile

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