Zhong Yang Correlations

TOP Stock

USD 1.63 0.03 1.81%

The current 90-days correlation between Zhong Yang Financial and Netcapital is -0.12 (i.e., Good diversification). The correlation of Zhong Yang 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.

Zhong Yang Correlation With Market

Significant diversification

The correlation between Zhong Yang Financial and DJI is 0.01 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Zhong Yang Financial and DJI in the same portfolio, assuming nothing else is changed.

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

Moving against Zhong Stock

0.55	V	Visa Class A	Pair Corr
0.47	BX	Blackstone Group Normal Trading	Pair Corr
0.41	MA	Mastercard	Pair Corr
0.35	DIST	Distoken Acquisition	Pair Corr
0.35	MC	Moelis Potential Growth	Pair Corr
0.33	PX	P10 Inc	Pair Corr
0.31	SF	Stifel Financial Earnings Call This Week	Pair Corr
0.42	TETEW	Technology Telecommunicatio	Pair Corr
0.36	DUET	DUET Acquisition Corp	Pair Corr
0.35	VIRT	Virtu Financial Normal Trading	Pair Corr
0.33	EMCG	Embrace Change Acqui	Pair Corr

Related Correlations Analysis

	NCPL	SAI	GHL	TCJH	APLD	MEGL	LAZ	MARA	RIOT
NCPL		0.68	-0.79	-0.2	-0.79	-0.51	-0.45	-0.14	-0.35	NCPL
SAI	0.68		-0.68	-0.54	-0.54	-0.46	-0.59	-0.4	-0.57	SAI
GHL	-0.79	-0.68		0.45	0.81	0.61	0.61	0.44	0.6	GHL
TCJH	-0.2	-0.54	0.45		0.18	0.04	0.82	0.66	0.84	TCJH
APLD	-0.79	-0.54	0.81	0.18		0.5	0.46	0.39	0.48	APLD
MEGL	-0.51	-0.46	0.61	0.04	0.5		0.15	0.09	0.15	MEGL
LAZ	-0.45	-0.59	0.61	0.82	0.46	0.15		0.75	0.88	LAZ
MARA	-0.14	-0.4	0.44	0.66	0.39	0.09	0.75		0.89	MARA
RIOT	-0.35	-0.57	0.6	0.84	0.48	0.15	0.88	0.89		RIOT
	NCPL	SAI	GHL	TCJH	APLD	MEGL	LAZ	MARA	RIOT

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

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

RIOT	+ 0.89	MARA
RIOT	+ 0.88	LAZ
RIOT	+ 0.84	TCJH
LAZ	+ 0.82	TCJH
APLD	+ 0.81	GHL
MARA	+ 0.75	LAZ

High negative correlations

APLD	- 0.79	NCPL
GHL	- 0.79	NCPL
GHL	- 0.68	SAI
LAZ	- 0.59	SAI
RIOT	- 0.57	SAI
APLD	- 0.54	SAI

Risk-Adjusted Indicators

There is a big difference between Zhong Stock performing well and Zhong Yang 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 Zhong Yang'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
NCPL	4.80	(0.85)	0.00	(0.39)	0.00	0.00	8.53	(13.88)	42.22
SAI	4.38	(0.03)	0.00	0.13	0.00	0.00	10.81	(10.31)	48.34
GHL	4.22	1.48	0.41	1.92	1.89	(5.22)	5.75	(5.53)	117.24
TCJH	6.67	0.89	0.11	1.58	6.24	(9.77)	21.43	(12.00)	44.06
APLD	7.35	1.40	0.24	0.60	5.79	(9.08)	11.30	(8.85)	81.01
MEGL	4.23	0.18	0.03	0.34	4.27	(6.62)	11.11	(6.78)	30.98
LAZ	1.62	0.05	0.11	0.12	1.35	(1.93)	3.95	(2.71)	18.37
MARA	4.79	0.19	0.12	0.14	4.73	(6.33)	11.02	(8.26)	43.97
RIOT	4.06	0.19	0.11	0.14	4.60	(4.50)	8.66	(6.31)	38.48

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2024 Macroaxis LLC