Cemtrex Correlations

CETX Stock

USD 1.71 0.04 2.40%

The correlation of Cemtrex 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.

Cemtrex Correlation With Market

Significant diversification

The correlation between Cemtrex 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 Cemtrex 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 Cemtrex. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in estimate.

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

Moving together with Cemtrex Stock

0.65	DM	Desktop Metal Tech Boost	Pair Corr
0.61	FN	Fabrinet Tech Boost	Pair Corr
0.79	KE	Kimball Electronics	Pair Corr
0.92	KN	Knowles Cor	Pair Corr
0.67	DSWL	Deswell Industries	Pair Corr
0.89	EBON	Ebang International	Pair Corr
0.74	EHGO	Eshallgo Class A	Pair Corr
0.91	EXTR	Extreme Networks	Pair Corr
0.77	APH	Amphenol	Pair Corr
0.78	BDC	Belden Inc	Pair Corr
0.92	BHE	Benchmark Electronics	Pair Corr
0.95	CTS	CTS Corporation	Pair Corr
0.7	HPE	Hewlett Packard Ente Aggressive Push	Pair Corr
0.63	HPQ	HP Inc	Pair Corr
0.83	IDN	Intellicheck Mobilisa Earnings Call Today	Pair Corr
0.77	MEI	Methode Electronics	Pair Corr
0.75	MOB	Mobilicom Limited	Pair Corr
0.75	MSI	Motorola Solutions	Pair Corr

Moving against Cemtrex Stock

0.5	VIAV	Viavi Solutions Sell-off Trend	Pair Corr
0.86	FKWL	Franklin Wireless Corp	Pair Corr
0.65	DLB	Dolby Laboratories	Pair Corr
0.56	FFIV	F5 Networks	Pair Corr
0.9	NOK	Nokia Corp ADR Aggressive Push	Pair Corr
0.45	OST	Ostin Technology	Pair Corr
0.42	LPL	LG Display	Pair Corr
0.36	TEL	TE Connectivity	Pair Corr
0.35	SNT	Senstar Technologies	Pair Corr

Related Correlations Analysis

	IIIV	AUID	BLZE	PKKFF	GCT	ARQQ	IRNT	TLS	NXTP	CISO
IIIV		0.28	0.56	-0.56	0.15	-0.48	0.0	0.05	0.0	-0.42	IIIV
AUID	0.28		0.53	0.23	0.76	0.39	0.0	0.65	0.0	0.11	AUID
BLZE	0.56	0.53		0.26	0.63	0.08	0.0	0.75	0.0	0.03	BLZE
PKKFF	-0.56	0.23	0.26		0.4	0.66	0.0	0.68	0.0	0.66	PKKFF
GCT	0.15	0.76	0.63	0.4		0.31	0.0	0.68	0.0	0.04	GCT
ARQQ	-0.48	0.39	0.08	0.66	0.31		0.0	0.55	0.0	0.77	ARQQ
IRNT	0.0	0.0	0.0	0.0	0.0	0.0		0.0	0.0	0.0	IRNT
TLS	0.05	0.65	0.75	0.68	0.68	0.55	0.0		0.0	0.42	TLS
NXTP	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0		0.0	NXTP
CISO	-0.42	0.11	0.03	0.66	0.04	0.77	0.0	0.42	0.0		CISO
	IIIV	AUID	BLZE	PKKFF	GCT	ARQQ	IRNT	TLS	NXTP	CISO

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

Please upgrade your account to get full access to Macroaxis premium features

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

CISO	+ 0.77	ARQQ
GCT	+ 0.76	AUID
TLS	+ 0.75	BLZE
TLS	+ 0.68	PKKFF
TLS	+ 0.68	GCT
ARQQ	+ 0.66	PKKFF

High negative correlations

PKKFF	- 0.56	IIIV
ARQQ	- 0.48	IIIV
CISO	- 0.42	IIIV
CISO	- 0.0	NXTP
NXTP	- 0.0	TLS
CISO	- 0.0	IRNT

Risk-Adjusted Indicators

There is a big difference between Cemtrex Stock performing well and Cemtrex 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 Cemtrex'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
IIIV	1.59	0.14	0.08	0.09	1.84	(1.67)	3.09	(2.81)	13.80
AUID	4.42	0.07	0.00	(0.05)	0.00	0.00	10.25	(9.82)	46.98
BLZE	2.79	(0.19)	0.00	(0.26)	0.00	0.00	6.18	(7.95)	21.07
PKKFF	7.03	(0.83)	0.00	(0.71)	0.00	0.00	15.91	(13.33)	49.72
GCT	2.97	(0.47)	0.00	(0.40)	0.00	0.00	6.05	(6.12)	16.65
ARQQ	9.14	0.96	0.10	0.96	9.43	(12.48)	24.76	(12.37)	81.53
IRNT	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
TLS	2.77	(0.23)	0.00	(0.26)	0.00	0.00	5.18	(5.90)	18.49
NXTP	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
CISO	5.91	(0.68)	0.00	2.90	0.00	0.00	10.16	(15.23)	73.53

Cemtrex Corporate Management

Mark Provinsal	SVP Industries	Profile
Paul Wyckoff	Corporate Controller	Profile
Gaurav Taywade	Chief Studio	Profile
Shane Compton	Chief Industries	Profile
Bret McGowan	SVP Industries	Profile
Christopher Moore	Chief Officer	Profile

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2024 Macroaxis LLC