Core Scientific, Correlations

CORZ Stock

USD 9.31 0.80 9.40%

The current 90-days correlation between Core Scientific, Common and Joby Aviation is -0.1 (i.e., Good diversification). The correlation of Core Scientific, 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.

Core Scientific, Correlation With Market

Modest diversification

The correlation between Core Scientific, Common and DJI is 0.26 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Core Scientific, Common 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 Core Scientific, Common. 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 Core Stock

0.7	S	SentinelOne	Pair Corr
0.72	NN	Nextnav Acquisition Corp Tech Boost	Pair Corr
0.65	VRAR	Glimpse Group	Pair Corr
0.8	VRNS	Varonis Systems	Pair Corr
0.83	VRNT	Verint Systems Earnings Call Today	Pair Corr
0.72	EVCM	EverCommerce	Pair Corr
0.73	FIVN	Five9 Inc	Pair Corr
0.84	FLYW	Flywire Corp	Pair Corr
0.65	FMTO	Femto Technologies Symbol Change	Pair Corr
0.62	FOUR	Shift4 Payments	Pair Corr
0.69	DBX	Dropbox	Pair Corr
0.72	GCT	GigaCloud Technology	Pair Corr
0.79	PAY	Paymentus Holdings Potential Growth	Pair Corr

Moving against Core Stock

0.89	VRSN	VeriSign	Pair Corr
0.65	JG	Aurora Mobile	Pair Corr
0.62	EVTC	Evertec	Pair Corr
0.61	MQ	Marqeta	Pair Corr
0.41	ZS	Zscaler	Pair Corr
0.39	BB	BlackBerry Earnings Call This Week	Pair Corr
0.81	SWI	SolarWinds Corp	Pair Corr
0.75	DOX	Amdocs	Pair Corr
0.63	HCP	Hashicorp	Pair Corr
0.57	TCX	Tucows Inc Tech Boost	Pair Corr
0.49	XBP	XBP Europe Holdings	Pair Corr
0.46	VHC	VirnetX Holding Corp	Pair Corr
0.35	PGY	Pagaya Technologies Buyout Trend	Pair Corr

Related Correlations Analysis

	JOBY	CAAP	MOGU	WZZAF	CVS	FICO	FNNNF
JOBY		0.61	0.61	-0.61	-0.74	0.4	-0.87	JOBY
CAAP	0.61		0.49	-0.49	-0.46	0.29	-0.66	CAAP
MOGU	0.61	0.49		-0.5	-0.46	0.3	-0.66	MOGU
WZZAF	-0.61	-0.49	-0.5		0.74	-0.58	0.79	WZZAF
CVS	-0.74	-0.46	-0.46	0.74		-0.81	0.81	CVS
FICO	0.4	0.29	0.3	-0.58	-0.81		-0.51	FICO
FNNNF	-0.87	-0.66	-0.66	0.79	0.81	-0.51		FNNNF
	JOBY	CAAP	MOGU	WZZAF	CVS	FICO	FNNNF

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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

FNNNF	+ 0.81	CVS
FNNNF	+ 0.79	WZZAF
CVS	+ 0.74	WZZAF
CAAP	+ 0.61	JOBY
MOGU	+ 0.61	JOBY
MOGU	+ 0.49	CAAP

High negative correlations

FNNNF	- 0.87	JOBY
FICO	- 0.81	CVS
CVS	- 0.74	JOBY
FNNNF	- 0.66	MOGU
FNNNF	- 0.66	CAAP
WZZAF	- 0.61	JOBY

Risk-Adjusted Indicators

There is a big difference between Core Stock performing well and Core Scientific, 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 Core Scientific,'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
JOBY	3.78	(0.12)	0.00	(68.79)	0.00	0.00	8.40	(7.71)	29.69
CAAP	1.85	(0.12)	0.00	(0.15)	0.00	0.00	3.61	(4.04)	15.56
MOGU	3.03	0.04	0.02	(0.43)	3.89	(3.28)	6.47	(7.94)	18.01
WZZAF	1.15	0.49	0.00	(2.02)	0.00	0.00	6.74	0.00	17.78
CVS	1.68	0.64	0.38	0.73	1.27	(2.10)	4.36	(2.47)	17.42
FICO	1.72	(0.15)	0.00	(0.16)	0.00	0.00	3.26	(3.24)	12.45
FNNNF	1.57	0.73	0.00	(1.27)	0.00	0.00	6.38	0.00	20.75

Core Scientific, Corporate Management

James Cleveland	Chief Officer	Profile
Michael Bros	Executive Strategy	Profile
Darin Feinstein	Chief CoFounder	Profile
Jay Brummett	Senior Construction	Profile
Ian Ferreira	Chief AI	Profile

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