Digital Turbine Correlations
| 4MD Stock | EUR 1.89 0.03 1.61% |
The current 90-days correlation between Digital Turbine and Gaming and Leisure is -0.06 (i.e., Good diversification). The correlation of Digital Turbine 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.
Digital Turbine Correlation With Market
Good diversification
The correlation between Digital Turbine and DJI is -0.01 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Digital Turbine and DJI in the same portfolio, assuming nothing else is changed.
Digital |
The ability to find closely correlated positions to Digital Turbine could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Digital Turbine when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back Digital Turbine - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling Digital Turbine to buy it.
Moving together with Digital Stock
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Moving against Digital Stock
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| 0.91 | 096 | HubSpot | PairCorr |
| 0.85 | AKX | ANSYS Inc | PairCorr |
| 0.83 | AUD | Autodesk | PairCorr |
| 0.83 | MFZA | Mitsubishi UFJ Financial | PairCorr |
| 0.82 | ITU | Intuit Inc | PairCorr |
| 0.82 | CDS | Cadence Design Systems | PairCorr |
| 0.74 | 5AP | Palo Alto Networks Split | PairCorr |
| 0.61 | 6GAA | Grupo Aval Acciones | PairCorr |
| 0.58 | 6GAA | Grupo Aval Acciones | PairCorr |
| 0.5 | SYP | Synopsys | PairCorr |
| 0.33 | 4OQ1 | AGNC INVESTMENT | PairCorr |
| 0.89 | 108 | Sumitomo Rubber Indu | PairCorr |
| 0.87 | AF4 | Hanover Insurance | PairCorr |
| 0.82 | 2T9A | TRAINLINE PLC LS | PairCorr |
| 0.82 | RHM | Rheinmetall AG | PairCorr |
| 0.71 | TP3 | THRACE PLASTICS | PairCorr |
| 0.7 | XSFA | SENECA FOODS A | PairCorr |
| 0.62 | NTO | Nintendo | PairCorr |
| 0.5 | A2X | AAC TECHNOLOGHLDGADR | PairCorr |
| 0.48 | CVU | United Breweries | PairCorr |
| 0.34 | E908 | Lyxor 1 | PairCorr |
| 0.31 | BAKA | Bankinter SA Earnings Call This Week | PairCorr |
Related Correlations Analysis
| -0.04 | 0.77 | 0.18 | 0.53 | 0.41 | 0.7 | 2GL | ||
| -0.04 | 0.05 | -0.16 | -0.25 | -0.33 | -0.24 | H3M | ||
| 0.77 | 0.05 | 0.18 | 0.4 | 0.26 | 0.51 | 0NH | ||
| 0.18 | -0.16 | 0.18 | 0.25 | 0.56 | 0.2 | UN3 | ||
| 0.53 | -0.25 | 0.4 | 0.25 | 0.46 | 0.65 | PN1 | ||
| 0.41 | -0.33 | 0.26 | 0.56 | 0.46 | 0.7 | NY70 | ||
| 0.7 | -0.24 | 0.51 | 0.2 | 0.65 | 0.7 | TF7A | ||
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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 Digital Stock performing well and Digital Turbine 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 Digital Turbine'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| 2GL | 0.94 | 0.04 | 0.02 | 0.22 | 1.25 | 2.14 | 6.58 | |||
| H3M | 2.69 | 0.17 | 0.05 | 0.37 | 3.19 | 5.41 | 18.20 | |||
| 0NH | 1.33 | 0.10 | 0.05 | 0.25 | 1.46 | 2.60 | 8.70 | |||
| UN3 | 2.39 | 0.65 | 0.27 | (24.35) | 1.96 | 5.60 | 31.19 | |||
| PN1 | 2.30 | 0.25 | 0.08 | (0.50) | 2.37 | 5.30 | 10.55 | |||
| NY70 | 0.77 | 0.02 | 0.00 | 0.20 | 1.16 | 1.90 | 8.81 | |||
| TF7A | 1.36 | 0.07 | 0.03 | 0.42 | 1.43 | 3.53 | 8.58 |
Be your own money manager
Our tools can tell you how much better you can do entering a position in Digital Turbine without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.Did you try this?
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Digital Turbine Corporate Management
Elected by the shareholders, the Digital Turbine's board of directors comprises two types of representatives: Digital Turbine inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Digital. The board's role is to monitor Digital Turbine's management team and ensure that shareholders' interests are well served. Digital Turbine's inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, Digital Turbine's outside directors are responsible for providing unbiased perspectives on the board's policies.
| Matthew Gillis | Pres Officer | Profile | |
| Senthil Kumaran | Chief Officer | Profile | |
| David Wesch | Chief Accounting Officer, Controller | Profile | |
| Sylvia Krzmarzick | Chief Officer | Profile | |
| William III | CEO Director | Profile |