AI TRANSPORTATION Correlations

AITRU Stock

11.10 0.10 0.89%

The current 90-days correlation between AI TRANSPORTATION and Stepstone Group is -0.08 (i.e., Good diversification). The correlation of AI TRANSPORTATION 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.

AI TRANSPORTATION Correlation With Market

Significant diversification

The correlation between AI TRANSPORTATION ACQUISITION and DJI is 0.01 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding AI TRANSPORTATION ACQUISITION 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 AI TRANSPORTATION ACQUISITION. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in metropolitan statistical area.

Moving against AITRU Stock

0.51	ORGN	Origin Materials	Pair Corr
0.55	CODI	Compass Diversified	Pair Corr
0.41	BITF	Bitfarms	Pair Corr
0.4	DHIL	Diamond Hill Investment	Pair Corr
0.34	PYPL	PayPal Holdings	Pair Corr
0.38	LC	LendingClub Corp	Pair Corr
0.33	CM	Canadian Imperial Bank	Pair Corr

Related Correlations Analysis

	STEP	AMBI	QRVO	ASX	GFS	KLAC	ADI	MCHP
STEP		0.47	0.66	0.54	0.49	0.43	0.11	0.21	STEP
AMBI	0.47		0.31	0.02	0.41	-0.03	-0.33	-0.16	AMBI
QRVO	0.66	0.31		0.33	0.25	0.65	0.05	0.05	QRVO
ASX	0.54	0.02	0.33		0.6	0.33	0.62	0.64	ASX
GFS	0.49	0.41	0.25	0.6		0.0	0.27	0.52	GFS
KLAC	0.43	-0.03	0.65	0.33	0.0		0.22	0.04	KLAC
ADI	0.11	-0.33	0.05	0.62	0.27	0.22		0.9	ADI
MCHP	0.21	-0.16	0.05	0.64	0.52	0.04	0.9		MCHP
	STEP	AMBI	QRVO	ASX	GFS	KLAC	ADI	MCHP

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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

MCHP	+ 0.9	ADI
QRVO	+ 0.66	STEP
KLAC	+ 0.65	QRVO
MCHP	+ 0.64	ASX
ADI	+ 0.62	ASX
GFS	+ 0.6	ASX

High negative correlations

ADI	- 0.33	AMBI
MCHP	- 0.16	AMBI
KLAC	- 0.03	AMBI
KLAC	- 0.0	GFS

Risk-Adjusted Indicators

There is a big difference between AITRU Stock performing well and AI TRANSPORTATION 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 AI TRANSPORTATION'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
STEP	2.20	(0.02)	0.00	0.16	0.00	0.00	3.72	(4.60)	12.24
AMBI	3.13	0.06	0.02	0.26	3.71	(3.62)	7.29	(6.54)	21.19
QRVO	1.88	0.18	0.07	0.07	2.05	(2.14)	4.00	(4.08)	19.23
ASX	1.86	(0.04)	0.00	0.06	0.00	0.00	3.80	(3.85)	14.62
GFS	1.93	(0.07)	0.00	(0.08)	0.00	0.00	5.54	(4.87)	14.87
KLAC	1.70	0.23	0.09	0.14	2.21	(1.72)	4.13	(3.31)	11.35
ADI	1.64	0.07	0.03	0.02	2.01	(1.79)	2.62	(3.66)	13.98
MCHP	2.07	(0.05)	0.00	(0.05)	0.00	0.00	3.78	(5.01)	20.48

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