Allied Gaming Correlations

AGAE Stock

1.08 0.09 7.69%

The correlation of Allied Gaming 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.

Allied Gaming Correlation With Market

Good diversification

The correlation between Allied Gaming Entertainment and DJI is -0.1 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Allied Gaming Entertainment 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 Allied Gaming Entertainment. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in nation.

Moving together with Allied Stock

0.69	DRI	Darden Restaurants	Pair Corr
0.78	JD	JD Inc Adr	Pair Corr
0.71	VIPS	Vipshop Holdings	Pair Corr
0.76	AZO	AutoZone	Pair Corr

Moving against Allied Stock

0.72	CMG	Chipotle Mexican Grill Sell-off Trend	Pair Corr
0.71	M	Macys Inc	Pair Corr
0.62	BH	Biglari Holdings	Pair Corr
0.6	UA	Under Armour C	Pair Corr
0.49	RH	RH Earnings Call Today	Pair Corr
0.47	BLMN	Bloomin Brands	Pair Corr
0.46	DIN	Dine Brands Global	Pair Corr
0.43	WING	Wingstop	Pair Corr
0.41	W	Wayfair Trending	Pair Corr
0.32	LOCO	El Pollo Loco	Pair Corr
0.75	BZH	Beazer Homes USA	Pair Corr
0.73	VSCO	Victorias Secret	Pair Corr
0.7	MHO	MI Homes	Pair Corr
0.66	KSS	Kohls Corp	Pair Corr
0.61	XELB	Xcel Brands Trending	Pair Corr
0.55	ETSY	Etsy Inc Buyout Trend	Pair Corr
0.51	VNCE	Vince Holding Corp	Pair Corr
0.51	HOV	Hovnanian Enterprises	Pair Corr
0.45	FND	Floor Decor Holdings	Pair Corr
0.44	KBH	KB Home Downward Rally	Pair Corr
0.44	KTB	Kontoor Brands	Pair Corr
0.4	BBY	Best Buy Sell-off Trend	Pair Corr
0.38	MTH	Meritage	Pair Corr
0.34	CCS	Century Communities	Pair Corr

Related Correlations Analysis

	APHP	HOFV	AGAEW	TRMNF	ZUMRF	OAMCF	NETWF	CLTFF	GULDF
APHP		0.7	0.0	0.06	0.0	-0.09	0.08	-0.37	0.19	APHP
HOFV	0.7		0.0	0.18	0.0	-0.25	0.03	-0.12	0.41	HOFV
AGAEW	0.0	0.0		0.0	0.0	0.0	0.0	0.0	0.0	AGAEW
TRMNF	0.06	0.18	0.0		0.0	0.01	0.21	0.43	0.25	TRMNF
ZUMRF	0.0	0.0	0.0	0.0		0.0	0.0	0.0	0.0	ZUMRF
OAMCF	-0.09	-0.25	0.0	0.01	0.0		0.05	0.08	0.22	OAMCF
NETWF	0.08	0.03	0.0	0.21	0.0	0.05		0.03	-0.05	NETWF
CLTFF	-0.37	-0.12	0.0	0.43	0.0	0.08	0.03		0.03	CLTFF
GULDF	0.19	0.41	0.0	0.25	0.0	0.22	-0.05	0.03		GULDF
	APHP	HOFV	AGAEW	TRMNF	ZUMRF	OAMCF	NETWF	CLTFF	GULDF

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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

HOFV	+ 0.7	APHP
CLTFF	+ 0.43	TRMNF
GULDF	+ 0.41	HOFV
GULDF	+ 0.25	TRMNF
GULDF	+ 0.22	OAMCF
NETWF	+ 0.21	TRMNF

High negative correlations

CLTFF	- 0.37	APHP
OAMCF	- 0.25	HOFV
CLTFF	- 0.12	HOFV
OAMCF	- 0.09	APHP
GULDF	- 0.05	NETWF
GULDF	- 0.0	ZUMRF

Risk-Adjusted Indicators

There is a big difference between Allied Stock performing well and Allied Gaming 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 Allied Gaming'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
APHP	3.80	0.21	0.02	0.23	4.80	(9.19)	13.64	(11.54)	44.16
HOFV	4.84	(0.10)	0.00	(0.07)	0.00	0.00	16.04	(9.22)	38.35
AGAEW	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
TRMNF	4.07	(0.06)	0.00	(0.17)	0.00	0.00	11.11	(21.43)	76.36
ZUMRF	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
OAMCF	7.54	0.92	0.05	4.17	8.36	(18.71)	28.57	(18.18)	73.59
NETWF	1.78	(0.04)	0.00	6.55	0.00	0.00	4.22	(5.22)	33.12
CLTFF	1.43	(0.08)	0.00	(0.22)	0.00	0.00	4.55	(6.67)	27.81
GULDF	45.09	20.25	0.00	1.31	0.00	0.00	0.00	0.00	1,055

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