Bannix Acquisition Correlations

BNIX Stock

USD 11.68 0.11 0.95%

The current 90-days correlation between Bannix Acquisition Corp and Embrace Change Acquisition is -0.25 (i.e., Very good diversification). The correlation of Bannix Acquisition 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.

Bannix Acquisition Correlation With Market

Significant diversification

The correlation between Bannix Acquisition Corp and DJI is 0.06 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Bannix Acquisition 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 Bannix Acquisition 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 gross domestic product.

Moving together with Bannix Stock

0.71	V	Visa Class A	Pair Corr
0.81	FDUS	Fidus Investment Corp	Pair Corr
0.72	AXP	American Express	Pair Corr
0.73	COF	Capital One Financial Sell-off Trend	Pair Corr
0.8	DFS	Discover Financial	Pair Corr
0.74	GBDC	Golub Capital BDC	Pair Corr
0.73	ARES	Ares Management LP	Pair Corr
0.75	TSLX	Sixth Street Specialty	Pair Corr
0.62	CGBD	Carlyle Secured Lending	Pair Corr
0.87	C	Citigroup	Pair Corr
0.74	BK	Bank of New York	Pair Corr

Moving against Bannix Stock

0.82	FHI	Federated Investors	Pair Corr
0.76	AMTD	AMTD IDEA Group	Pair Corr
0.7	DHIL	Diamond Hill Investment Earnings Call Tomorrow	Pair Corr
0.49	BEN	Franklin Resources	Pair Corr
0.39	APAM	Artisan Partners Asset	Pair Corr
0.38	AMG	Affiliated Managers	Pair Corr
0.37	PYPL	PayPal Holdings	Pair Corr
0.36	BBUC	Brookfield Business Corp	Pair Corr
0.6	CB	Chubb	Pair Corr
0.58	AX	Axos Financial	Pair Corr
0.58	EG	Everest Group	Pair Corr
0.55	IX	Orix Corp Ads	Pair Corr
0.53	CM	Canadian Imperial Bank Earnings Call Tomorrow	Pair Corr
0.46	BY	Byline Bancorp	Pair Corr
0.43	LC	LendingClub Corp	Pair Corr
0.41	BX	Blackstone Group	Pair Corr
0.38	RF	Regions Financial	Pair Corr

Related Correlations Analysis

	TENK	EMCG	HPLT	NRAC	GBBK	MCACW	MACAW	NRACW	TAKD	GLRI
TENK		0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	TENK
EMCG	0.0		0.0	0.0	0.81	0.0	0.0	0.0	-0.43	0.0	EMCG
HPLT	0.0	0.0		0.0	0.0	0.0	0.0	0.0	0.0	0.0	HPLT
NRAC	0.0	0.0	0.0		0.0	0.0	0.0	0.0	0.0	0.0	NRAC
GBBK	0.0	0.81	0.0	0.0		0.0	0.0	0.0	-0.44	0.0	GBBK
MCACW	0.0	0.0	0.0	0.0	0.0		0.0	0.0	0.0	0.0	MCACW
MACAW	0.0	0.0	0.0	0.0	0.0	0.0		0.0	0.0	0.0	MACAW
NRACW	0.0	0.0	0.0	0.0	0.0	0.0	0.0		0.0	0.0	NRACW
TAKD	0.0	-0.43	0.0	0.0	-0.44	0.0	0.0	0.0		0.0	TAKD
GLRI	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0		GLRI
	TENK	EMCG	HPLT	NRAC	GBBK	MCACW	MACAW	NRACW	TAKD	GLRI

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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

GBBK	+ 0.81	EMCG
EMCG	+ 0.0	TENK
HPLT	+ 0.0	TENK
NRAC	+ 0.0	TENK
GBBK	+ 0.0	TENK
MCACW	+ 0.0	TENK

High negative correlations

TAKD	- 0.44	GBBK
TAKD	- 0.43	EMCG
GLRI	- 0.0	TAKD
GLRI	- 0.0	NRACW
TAKD	- 0.0	NRACW
GLRI	- 0.0	MACAW

Risk-Adjusted Indicators

There is a big difference between Bannix Stock performing well and Bannix Acquisition 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 Bannix Acquisition'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	Treynor Ratio	Potential Upside	Value @Risk	Maximum Drawdown
TENK	0.00	0.00	0.00	0.00	0.00	0.00
EMCG	0.19	0.03	(0.65)	0.68	(0.25)	3.66
HPLT	0.00	0.00	0.00	0.00	0.00	0.00
NRAC	0.00	0.00	0.00	0.00	0.00	0.00
GBBK	0.26	0.03	0.25	1.35	(0.44)	3.58
MCACW	0.00	0.00	0.00	0.00	0.00	0.00
MACAW	0.00	0.00	0.00	0.00	0.00	0.00
NRACW	0.00	0.00	0.00	0.00	0.00	0.00
TAKD	65.96	32.07	(1.21)	48.15	(0.50)	1,997
GLRI	0.00	0.00	0.00	0.00	0.00	0.00

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