Power Digital Correlations
| XPDBUDelisted Stock | USD 10.51 0.00 0.00% |
The current 90-days correlation between Power Digital Infras and Growth For Good is 0.13 (i.e., Average diversification). The correlation of Power Digital 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.
Power Digital Correlation With Market
Good diversification
The correlation between Power Digital Infrastructure and DJI is -0.09 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Power Digital Infrastructure and DJI in the same portfolio, assuming nothing else is changed.
Power |
Moving together with Power Stock
| 0.75 | WMT | Walmart Aggressive Push | PairCorr |
| 0.7 | INTC | Intel Fiscal Year End 23rd of January 2025 | PairCorr |
| 0.71 | AXP | American Express Fiscal Year End 24th of January 2025 | PairCorr |
| 0.71 | DIS | Walt Disney Aggressive Push | PairCorr |
| 0.61 | TRV | The Travelers Companies Fiscal Year End 17th of January 2025 | PairCorr |
| 0.73 | CSCO | Cisco Systems Aggressive Push | PairCorr |
| 0.68 | JPM | JPMorgan Chase Sell-off Trend | PairCorr |
Moving against Power Stock
| 0.87 | QLGN | Qualigen Therapeutics | PairCorr |
| 0.85 | KO | Coca Cola Aggressive Push | PairCorr |
| 0.82 | JNJ | Johnson Johnson Sell-off Trend | PairCorr |
| 0.68 | BA | Boeing Fiscal Year End 29th of January 2025 | PairCorr |
| 0.59 | SGD | Safe and Green | PairCorr |
| 0.52 | MULN | Mullen Automotive | PairCorr |
| 0.45 | PG | Procter Gamble | PairCorr |
| 0.32 | MMM | 3M Company Fiscal Year End 28th of January 2025 | PairCorr |
Related Correlations Analysis
| -0.67 | 0.59 | -0.12 | 0.39 | GFGDU | ||
| -0.67 | -0.44 | -0.02 | -0.47 | TGAAU | ||
| 0.59 | -0.44 | -0.14 | 0.12 | UTAAU | ||
| -0.12 | -0.02 | -0.14 | -0.02 | HAIAU | ||
| 0.39 | -0.47 | 0.12 | -0.02 | LGSTU | ||
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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
| High negative correlations
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Risk-Adjusted Indicators
There is a big difference between Power Stock performing well and Power Digital 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 Power Digital'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| GFGDU | 0.26 | 0.03 | (0.06) | (0.87) | 0.56 | 0.77 | 5.04 | |||
| TGAAU | 0.00 | (0.01) | 0.00 | (4.73) | 0.00 | 0.00 | 0.09 | |||
| UTAAU | 0.13 | 0.01 | (0.23) | (0.18) | 0.15 | 0.47 | 1.60 | |||
| HAIAU | 0.24 | (0.01) | 0.00 | (1.81) | 0.00 | 0.18 | 11.95 | |||
| LGSTU | 0.19 | 0.05 | 0.00 | (1.22) | 0.00 | 0.48 | 4.95 |
Power Digital Related Equities
One of the popular trading techniques among algorithmic traders is to use market-neutral strategies where every trade hedges away some risk. Because there are two separate transactions required, even if one position performs unexpectedly, the other equity can make up some of the losses. Below are some of the equities that can be combined with Power Digital stock to make a market-neutral strategy. Peer analysis of Power Digital could also be used in its relative valuation, which is a method of valuing Power Digital by comparing valuation metrics with similar companies.
| Risk & Return | Correlation |
Still Interested in Power Digital Infrastructure?
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