Agrify Corp Correlations

AGFY Stock

USD 18.83 0.13 0.70%

The correlation of Agrify Corp 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.

Agrify Corp Correlation With Market

Significant diversification

The correlation between Agrify Corp and DJI is 0.07 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Agrify Corp 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 Agrify Corp. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in census.

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

Moving together with Agrify Stock

0.73	ESOA	Energy Services	Pair Corr
0.65	ACM	Aecom Technology	Pair Corr
0.66	FLR	Fluor	Pair Corr
0.64	KBR	KBR Inc	Pair Corr
0.68	PWR	Quanta Services	Pair Corr
0.66	GLDD	Great Lakes Dredge	Pair Corr
0.8	PGHL	Primega Group Holdings	Pair Corr
0.8	ROAD	Construction Partners	Pair Corr
0.72	AMRC	Ameresco Buyout Trend	Pair Corr
0.78	SHIM	Shimmick Common	Pair Corr

Moving against Agrify Stock

0.45	WLGS	Wang Lee Group, Trending	Pair Corr
0.41	VATE	Innovate Corp	Pair Corr
0.45	STN	Stantec	Pair Corr
0.38	JUNE	Junee Limited Ordinary Trending	Pair Corr

Related Correlations Analysis

	MYRG	GVA	ROAD	GLDD	KBR	MTRX	TPC	APG	BLD	FIX
MYRG		0.92	0.67	0.68	0.59	0.29	0.03	-0.07	0.69	0.87	MYRG
GVA	0.92		0.67	0.69	0.58	0.4	-0.06	0.11	0.73	0.9	GVA
ROAD	0.67	0.67		0.91	0.92	0.17	-0.05	-0.21	0.33	0.72	ROAD
GLDD	0.68	0.69	0.91		0.9	0.39	-0.06	-0.17	0.5	0.79	GLDD
KBR	0.59	0.58	0.92	0.9		0.14	0.05	-0.38	0.35	0.7	KBR
MTRX	0.29	0.4	0.17	0.39	0.14		-0.17	0.54	0.66	0.51	MTRX
TPC	0.03	-0.06	-0.05	-0.06	0.05	-0.17		-0.22	-0.02	0.02	TPC
APG	-0.07	0.11	-0.21	-0.17	-0.38	0.54	-0.22		0.22	0.04	APG
BLD	0.69	0.73	0.33	0.5	0.35	0.66	-0.02	0.22		0.79	BLD
FIX	0.87	0.9	0.72	0.79	0.7	0.51	0.02	0.04	0.79		FIX
	MYRG	GVA	ROAD	GLDD	KBR	MTRX	TPC	APG	BLD	FIX

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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

GVA	+ 0.92	MYRG
KBR	+ 0.92	ROAD
GLDD	+ 0.91	ROAD
FIX	+ 0.9	GVA
KBR	+ 0.9	GLDD
FIX	+ 0.87	MYRG

High negative correlations

APG	- 0.38	KBR
APG	- 0.22	TPC
APG	- 0.21	ROAD
TPC	- 0.17	MTRX
APG	- 0.17	GLDD
APG	- 0.07	MYRG

Risk-Adjusted Indicators

There is a big difference between Agrify Stock performing well and Agrify Corp 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 Agrify Corp'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
MYRG	2.39	(0.31)	0.00	(0.36)	0.00	0.00	4.57	(5.73)	16.92
GVA	1.37	(0.29)	0.00	(0.37)	0.00	0.00	2.25	(2.86)	8.39
ROAD	2.22	(0.31)	0.00	2.13	0.00	0.00	4.39	(4.94)	16.21
GLDD	2.46	(0.38)	0.00	0.61	0.00	0.00	3.70	(5.27)	22.28
KBR	1.26	(0.21)	0.00	0.30	0.00	0.00	2.08	(2.64)	6.14
MTRX	2.32	0.18	0.10	(0.65)	2.71	(2.69)	4.67	(4.98)	14.29
TPC	2.82	0.07	0.06	(0.20)	3.13	(3.26)	3.85	(5.49)	42.81
APG	1.31	0.03	0.07	(0.19)	1.74	(1.37)	2.43	(2.83)	12.53
BLD	1.56	(0.17)	0.00	(0.22)	0.00	0.00	3.23	(3.75)	11.12
FIX	2.75	(0.21)	0.00	(0.21)	0.00	0.00	5.37	(5.90)	31.92

Agrify Corp Corporate Management

Timothy Oakes	Chief Officer	Profile
Sheryl Elliott	Senior Resources	Profile
Timothy Hayden	Senior Development	Profile
Raymond Chang	Chairman CEO	Profile
David Kessler	Chief Officer	Profile
J Skinner	VP Operations	Profile

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