VNET Group Correlations
| VNET Stock | USD 11.39 0.40 3.39% |
The current 90-days correlation between VNET Group DRC and Globant SA is 0.05 (i.e., Significant diversification). The correlation of VNET Group 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.
VNET Group Correlation With Market
Poor diversification
The correlation between VNET Group DRC and DJI is 0.71 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding VNET Group DRC and DJI in the same portfolio, assuming nothing else is changed.
Moving together with VNET Stock
| 0.88 | DOCN | DigitalOcean Holdings | PairCorr |
| 0.85 | AKAM | Akamai Technologies | PairCorr |
| 0.62 | CORZ | Core Scientific Common | PairCorr |
| 0.72 | CRWV | CoreWeave Class A | PairCorr |
Moving against VNET Stock
| 0.89 | GDDY | Godaddy | PairCorr |
| 0.86 | WIX | WixCom | PairCorr |
| 0.86 | PAYS | Paysign | PairCorr |
| 0.75 | GDYN | Grid Dynamics Holdings | PairCorr |
| 0.74 | FCT | Firstwave Cloud Tech | PairCorr |
| 0.74 | PSFE | Paysafe Earnings Call This Week | PairCorr |
| 0.74 | DXN | DXN | PairCorr |
| 0.7 | VRRM | Verra Mobility Corp | PairCorr |
| 0.69 | VRSN | VeriSign | PairCorr |
| 0.67 | DTSTW | Data Storage | PairCorr |
| 0.66 | MAPSW | WM Technology | PairCorr |
| 0.64 | MP1 | Megaport | PairCorr |
| 0.48 | TCX | Tucows Inc | PairCorr |
| 0.44 | MDB | MongoDB Earnings Call This Week | PairCorr |
| 0.76 | SHOP | Shopify | PairCorr |
| 0.76 | SNOW | Snowflake | PairCorr |
| 0.75 | TWLO | Twilio Inc | PairCorr |
| 0.71 | CSAI | Cloudastructure Class | PairCorr |
| 0.7 | BBAI | BigBearai Holdings Aggressive Push | PairCorr |
| 0.41 | PTAIF | PT Astra International | PairCorr |
Related Correlations Analysis
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
| High negative correlations
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Risk-Adjusted Indicators
There is a big difference between VNET Stock performing well and VNET Group 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 VNET Group'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| AI | 3.12 | (0.99) | 0.00 | (0.22) | 0.00 | 4.45 | 33.30 | |||
| GLOB | 2.71 | (0.23) | 0.00 | 0.38 | 0.00 | 5.74 | 18.72 | |||
| INOD | 3.72 | (0.29) | 0.00 | (0.04) | 0.00 | 10.53 | 30.46 | |||
| CLVT | 3.27 | (0.66) | 0.00 | (0.15) | 0.00 | 4.35 | 42.01 | |||
| DXC | 2.13 | (0.11) | (0.01) | 0.02 | 3.78 | 4.90 | 18.35 | |||
| CNXC | 2.94 | (0.27) | 0.00 | (0.01) | 0.00 | 5.72 | 19.57 | |||
| RNG | 2.85 | 0.39 | 0.12 | 0.27 | 3.30 | 6.30 | 46.86 | |||
| FORTY | 3.24 | 0.07 | (0.01) | (0.02) | 5.85 | 5.56 | 27.19 | |||
| NP | 3.08 | (0.16) | 0.00 | (0.08) | 0.00 | 5.87 | 27.65 | |||
| ASGN | 2.00 | (0.07) | (0.01) | 0.03 | 3.40 | 4.91 | 18.93 |