Wearable Devices Correlations

WLDS Stock

USD 0.90 0.05 5.26%

The current 90-days correlation between Wearable Devices and Treasure Global is 0.01 (i.e., Significant diversification). The correlation of Wearable Devices 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.

Wearable Devices Correlation With Market

Pay attention - limited upside

The correlation between Wearable Devices and DJI is -0.8 (i.e., Pay attention - limited upside) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Wearable Devices and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Wearable Stock

Check out Your Current Watchlist to better understand how to build diversified portfolios, which includes a position in Wearable Devices. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in unemployment.

For more information on how to buy Wearable Stock please use our How to Invest in Wearable Devices guide.

Moving together with Wearable Stock

0.79	KTB	Kontoor Brands	Pair Corr
0.86	PVH	PVH Corp	Pair Corr
0.72	REE	Ree Automotive Holding	Pair Corr
0.83	SBDS	SBDS Symbol Change	Pair Corr
0.89	AREB	American Rebel Holdings	Pair Corr
0.77	NDEKY	Nitto Denko Corp	Pair Corr
0.87	BROGF	BROGF	Pair Corr

Moving against Wearable Stock

0.92	IFA	iFabric Corp	Pair Corr
0.85	UHG	United Homes Group	Pair Corr
0.79	UAA	Under Armour A Aggressive Push	Pair Corr
0.78	MBC	MasterBrand	Pair Corr
0.75	CRI	Carters	Pair Corr
0.49	UHR	Swatch Group	Pair Corr
0.48	CUW	Columbia Sportswear	Pair Corr
0.41	RL	Ralph Lauren Corp	Pair Corr
0.37	GIII	G III Apparel	Pair Corr
0.31	GI4	G III Apparel	Pair Corr
0.9	SMSD	Samsung Electronics	Pair Corr
0.9	FMCB	Farmers Merchants Bancorp	Pair Corr
0.9	NTRS	Northern Trust	Pair Corr
0.86	ALEEF	Alerio Gold Corp	Pair Corr
0.84	APETF	Alpha Esports Tech	Pair Corr
0.83	ENS	Enersys	Pair Corr
0.83	KCDMY	Kimberly Clark de	Pair Corr
0.8	WMT	Walmart Common Stock Earnings Call This Week	Pair Corr
0.8	COMP	Compass	Pair Corr
0.78	SECVY	Seche Environnement	Pair Corr
0.76	FUWAF	Furukawa Electric	Pair Corr
0.69	DAIUF	Daifuku Co Earnings Call Today	Pair Corr
0.6	NFPDF	Nissin Foods Holdings	Pair Corr
0.55	COLM	Columbia Sportswear	Pair Corr
0.39	YAMHF	Yamaha Motor Earnings Call Tomorrow	Pair Corr

Related Correlations Analysis

	IMTE	WTO	TGL	FRGT	OLB	TAOP	MYSZ	TRUG	ULY	AUUD
IMTE		0.45	0.41	0.39	0.34	0.5	0.41	0.4	-0.24	0.43	IMTE
WTO	0.45		0.7	0.71	0.48	0.55	0.66	0.82	0.0	0.5	WTO
TGL	0.41	0.7		0.84	0.69	0.72	0.66	0.78	0.01	0.57	TGL
FRGT	0.39	0.71	0.84		0.87	0.84	0.67	0.82	-0.15	0.61	FRGT
OLB	0.34	0.48	0.69	0.87		0.86	0.7	0.72	-0.27	0.66	OLB
TAOP	0.5	0.55	0.72	0.84	0.86		0.66	0.72	-0.32	0.57	TAOP
MYSZ	0.41	0.66	0.66	0.67	0.7	0.66		0.8	0.04	0.79	MYSZ
TRUG	0.4	0.82	0.78	0.82	0.72	0.72	0.8		-0.06	0.64	TRUG
ULY	-0.24	0.0	0.01	-0.15	-0.27	-0.32	0.04	-0.06		0.17	ULY
AUUD	0.43	0.5	0.57	0.61	0.66	0.57	0.79	0.64	0.17		AUUD
	IMTE	WTO	TGL	FRGT	OLB	TAOP	MYSZ	TRUG	ULY	AUUD

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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

OLB	+ 0.87	FRGT
TAOP	+ 0.86	OLB
FRGT	+ 0.84	TGL
TAOP	+ 0.84	FRGT
TRUG	+ 0.82	WTO
TRUG	+ 0.82	FRGT

High negative correlations

ULY	- 0.32	TAOP
ULY	- 0.27	OLB
ULY	- 0.24	IMTE
ULY	- 0.15	FRGT
ULY	- 0.06	TRUG
ULY	- 0.0	WTO

Risk-Adjusted Indicators

There is a big difference between Wearable Stock performing well and Wearable Devices 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 Wearable Devices' 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
IMTE	5.98	(0.14)	0.00	0.59	0.00	0.00	13.79	(13.27)	63.84
WTO	10.61	(0.81)	0.00	0.20	0.00	0.00	25.00	(17.86)	121.95
TGL	12.40	0.95	0.08	0.48	12.49	(18.16)	14.68	(22.25)	316.34
FRGT	5.37	(1.66)	0.00	(0.60)	0.00	0.00	9.52	(11.76)	55.36
OLB	4.94	(1.31)	0.00	(0.39)	0.00	0.00	10.53	(12.24)	51.07
TAOP	5.22	(0.72)	0.00	(0.82)	0.00	0.00	11.43	(9.57)	51.37
MYSZ	4.26	(0.94)	0.00	(0.47)	0.00	0.00	11.39	(10.14)	26.97
TRUG	7.07	(0.74)	0.00	(0.78)	0.00	0.00	18.75	(12.11)	51.36
ULY	6.44	0.02	0.02	0.11	6.34	(9.06)	15.23	(10.29)	70.74
AUUD	4.29	(0.45)	0.00	(12.63)	0.00	0.00	15.15	(11.11)	36.34

Wearable Devices Corporate Management

Shmuel Barel	Vice Development	Profile
Masahiro Yamamoto	Gen Operations	Profile
Guy Wagner	Chief CoFounder	Profile
Tamar Fleisher	Chief Officer	Profile
Leeor Langer	CoFounder CTO	Profile
Alon CPA	Chief Officer	Profile
Asher Dahan	Chairman CoFounder	Profile

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