PowerFleet, Correlations

AIOT Stock

6.86 0.12 1.78%

The current 90-days correlation between PowerFleet, and Applied Opt is 0.09 (i.e., Significant diversification). The correlation of PowerFleet, 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.

PowerFleet, Correlation With Market

Weak diversification

The correlation between PowerFleet, and DJI is 0.33 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding PowerFleet, 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 PowerFleet,. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in persons.

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

Moving together with PowerFleet, Stock

0.74	EBON	Ebang International	Pair Corr
0.79	EHGO	Eshallgo Class A	Pair Corr
0.77	EXTR	Extreme Networks	Pair Corr
0.82	CLS	Celestica	Pair Corr
0.71	CTS	CTS Corporation	Pair Corr
0.72	HPE	Hewlett Packard Ente Sell-off Trend	Pair Corr
0.71	JBL	Jabil Circuit Earnings Call Tomorrow	Pair Corr
0.84	MSI	Motorola Solutions	Pair Corr
0.8	ZBRA	Zebra Technologies	Pair Corr
0.92	IONQ	IONQ Inc	Pair Corr
0.77	KODK	Eastman Kodak	Pair Corr
0.79	KULR	KULR Technology Group Aggressive Push	Pair Corr
0.89	LITE	Lumentum Holdings	Pair Corr
0.79	NTGR	NETGEAR	Pair Corr
0.82	PLXS	Plexus Corp	Pair Corr
0.74	PMTS	CPI Card Group	Pair Corr
0.83	QBTS	D Wave Quantum Trending	Pair Corr
0.91	RDCM	Radcom	Pair Corr
0.71	AAPL	Apple Inc Aggressive Push	Pair Corr

Moving against PowerFleet, Stock

0.87	WBX	Wallbox NV	Pair Corr
0.85	JNPR	Juniper Networks	Pair Corr
0.81	CDW	CDW Corp	Pair Corr
0.69	DM	Desktop Metal	Pair Corr
0.4	INVZW	Innoviz Technologies	Pair Corr
0.39	STX	Seagate Technology PLC	Pair Corr
0.84	CLFD	Clearfield	Pair Corr
0.73	PLUS	ePlus inc	Pair Corr
0.7	OPTX	Syntec Optics Holdings Buyout Trend	Pair Corr
0.69	CRCT	Cricut Inc	Pair Corr
0.68	AVNW	Aviat Networks	Pair Corr
0.68	CLRO	ClearOne	Pair Corr
0.61	CALX	Calix Inc Fiscal Year End 3rd of February 2025	Pair Corr
0.32	SMCI	Super Micro Computer Downward Rally	Pair Corr

Related Correlations Analysis

	HPE	JNPR	CIEN	CSCO	VIAV	AAOI	EXTR
HPE		-0.45	0.93	0.85	0.86	0.69	0.74	HPE
JNPR	-0.45		-0.41	-0.54	-0.52	-0.85	-0.53	JNPR
CIEN	0.93	-0.41		0.92	0.91	0.72	0.76	CIEN
CSCO	0.85	-0.54	0.92		0.95	0.81	0.77	CSCO
VIAV	0.86	-0.52	0.91	0.95		0.8	0.83	VIAV
AAOI	0.69	-0.85	0.72	0.81	0.8		0.81	AAOI
EXTR	0.74	-0.53	0.76	0.77	0.83	0.81		EXTR
	HPE	JNPR	CIEN	CSCO	VIAV	AAOI	EXTR

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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

VIAV	+ 0.95	CSCO
CIEN	+ 0.93	HPE
CSCO	+ 0.92	CIEN
VIAV	+ 0.91	CIEN
VIAV	+ 0.86	HPE
CSCO	+ 0.85	HPE

High negative correlations

AAOI	- 0.85	JNPR
CSCO	- 0.54	JNPR
EXTR	- 0.53	JNPR
VIAV	- 0.52	JNPR
JNPR	- 0.45	HPE
CIEN	- 0.41	JNPR

Risk-Adjusted Indicators

There is a big difference between PowerFleet, Stock performing well and PowerFleet, 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 PowerFleet,'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
HPE	1.84	0.18	0.09	0.23	2.48	(1.83)	5.14	(4.18)	14.13
JNPR	0.47	(0.06)	0.00	(0.23)	0.00	0.00	1.46	(0.80)	5.97
CIEN	1.72	0.32	0.21	0.31	1.49	(2.04)	4.01	(2.93)	12.09
CSCO	0.70	0.19	0.22	0.32	0.35	(0.82)	1.72	(0.91)	6.38
VIAV	1.36	0.24	0.19	0.29	1.16	(1.54)	3.07	(2.43)	9.98
AAOI	5.84	1.41	0.28	0.55	5.34	(7.17)	13.18	(7.22)	76.77
EXTR	1.87	0.20	0.15	0.22	1.66	(2.19)	5.48	(3.04)	18.17

PowerFleet, Corporate Management

James Zeitunian	Chief Officer	Profile
Melissa Garza	Chief Officer	Profile
Offer Lehmann	Chief Officer	Profile
Luiz Munhoz	Managing Brazil	Profile
Andrea Hayton	Chief Officer	Profile
Charles Tasker	Chief Officer	Profile

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