AI TRANSPORTATION Correlations

AITRU Stock

10.80 0.40 3.57%

The current 90-days correlation between AI TRANSPORTATION and NRG Energy is 0.05 (i.e., Significant 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

Average diversification

The correlation between AI TRANSPORTATION ACQUISITION and DJI is 0.18 (i.e., Average 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 together with AITRU Stock

0.62	V	Visa Class A	Pair Corr
0.65	FDUS	Fidus Investment Corp	Pair Corr
0.65	GBDC	Golub Capital BDC	Pair Corr
0.68	C	Citigroup	Pair Corr

Moving against AITRU Stock

0.47	FHI	Federated Investors	Pair Corr
0.47	PYPL	PayPal Holdings	Pair Corr
0.46	AMG	Affiliated Managers	Pair Corr
0.37	DHIL	Diamond Hill Investment Earnings Call Today	Pair Corr
0.31	AMTD	AMTD IDEA Group	Pair Corr
0.45	EG	Everest Group	Pair Corr
0.44	LC	LendingClub Corp	Pair Corr
0.4	CB	Chubb	Pair Corr
0.38	CM	Canadian Imperial Bank Earnings Call Today	Pair Corr
0.32	BX	Blackstone Group	Pair Corr
0.32	IX	Orix Corp Ads	Pair Corr

Related Correlations Analysis

	NRG	EVRG	FDUS	FSK	NI	GROW	PPL
NRG		0.61	0.78	0.74	0.73	0.29	0.46	NRG
EVRG	0.61		0.69	0.7	0.9	0.32	0.88	EVRG
FDUS	0.78	0.69		0.99	0.72	0.48	0.42	FDUS
FSK	0.74	0.7	0.99		0.73	0.51	0.43	FSK
NI	0.73	0.9	0.72	0.73		0.33	0.81	NI
GROW	0.29	0.32	0.48	0.51	0.33		0.28	GROW
PPL	0.46	0.88	0.42	0.43	0.81	0.28		PPL
	NRG	EVRG	FDUS	FSK	NI	GROW	PPL

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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
NRG	2.13	0.18	0.06	0.20	2.97	(2.33)	4.40	(3.21)	23.36
EVRG	0.64	0.12	0.12	1.14	0.72	(0.65)	1.35	(1.59)	3.61
FDUS	0.60	0.19	0.26	0.55	0.44	(0.69)	1.38	(0.97)	3.18
FSK	0.66	0.19	0.24	0.65	0.47	(0.74)	1.46	(1.18)	3.23
NI	0.83	0.13	0.10	0.35	1.07	(0.85)	1.93	(2.01)	6.69
GROW	0.56	0.00	(0.01)	0.00	0.69	(0.78)	1.22	(1.21)	4.95
PPL	0.80	0.05	0.04	0.18	1.11	(0.77)	1.71	(1.98)	6.01

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