Able View Correlations

ABLVW Stock

0.02 0 10.00%

The current 90-days correlation between Able View Global and KNOT Offshore Partners is -0.14 (i.e., Good diversification). The correlation of Able View 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.

Able View Correlation With Market

Good diversification

The correlation between Able View Global and DJI is -0.2 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Able View Global and DJI in the same portfolio, assuming nothing else is changed.

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Able View Global. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in real.

Moving against Able Stock

0.33	LVO	LiveOne	Pair Corr
0.33	KRKR	36Kr Holdings	Pair Corr
0.48	DALN	Dallasnews Corp	Pair Corr
0.36	KUKE	Kuke Music Holding	Pair Corr
0.36	SPHR	Sphere Entertainment	Pair Corr
0.35	MSGE	Madison Square Garden	Pair Corr

Related Correlations Analysis

	UNVGY	RNECF	SBFFY	ELTK	KNOP	GEOUF	NTGR
UNVGY		0.8	0.61	-0.19	-0.45	-0.54	-0.26	UNVGY
RNECF	0.8		0.71	-0.08	-0.2	-0.49	-0.32	RNECF
SBFFY	0.61	0.71		-0.49	-0.21	-0.72	-0.73	SBFFY
ELTK	-0.19	-0.08	-0.49		0.07	0.37	0.55	ELTK
KNOP	-0.45	-0.2	-0.21	0.07		0.12	0.07	KNOP
GEOUF	-0.54	-0.49	-0.72	0.37	0.12		0.7	GEOUF
NTGR	-0.26	-0.32	-0.73	0.55	0.07	0.7		NTGR
	UNVGY	RNECF	SBFFY	ELTK	KNOP	GEOUF	NTGR

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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

RNECF	+ 0.8	UNVGY
SBFFY	+ 0.71	RNECF
NTGR	+ 0.7	GEOUF
SBFFY	+ 0.61	UNVGY
NTGR	+ 0.55	ELTK
GEOUF	+ 0.37	ELTK

High negative correlations

NTGR	- 0.73	SBFFY
GEOUF	- 0.72	SBFFY
GEOUF	- 0.54	UNVGY
ELTK	- 0.49	SBFFY
GEOUF	- 0.49	RNECF
KNOP	- 0.45	UNVGY

Risk-Adjusted Indicators

There is a big difference between Able Stock performing well and Able View 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 Able View'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
UNVGY	1.27	0.15	0.12	(2.11)	1.80	(1.27)	2.23	(2.66)	13.75
RNECF	2.31	0.30	0.10	(1.74)	2.45	(3.48)	6.73	(4.21)	20.46
SBFFY	1.03	0.49	0.00	(17.84)	0.00	0.00	2.29	0.00	27.09
ELTK	1.80	(0.24)	0.00	(0.30)	0.00	0.00	2.61	(3.28)	26.94
KNOP	1.64	0.21	0.13	0.25	1.63	(2.04)	3.81	(3.04)	11.46
GEOUF	0.70	(0.16)	0.00	0.16	0.00	0.00	0.00	(1.17)	19.51
NTGR	2.21	0.02	0.00	(0.05)	0.00	0.00	4.41	(5.11)	12.12

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