Digihost Technology Correlations

DGHI Stock

USD 1.58 0.20 14.49%

The current 90-days correlation between Digihost Technology and Marin Software is -0.02 (i.e., Good diversification). The correlation of Digihost Technology 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.

Digihost Technology Correlation With Market

Modest diversification

The correlation between Digihost Technology and DJI is 0.23 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Digihost Technology and DJI in the same portfolio, assuming nothing else is changed.

Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in Digihost Technology. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in rate.

For more detail on how to invest in Digihost Stock please use our How to Invest in Digihost Technology guide.

Moving together with Digihost Stock

0.61	DT	Dynatrace Holdings LLC	Pair Corr
0.77	IT	Gartner	Pair Corr

Moving against Digihost Stock

0.59	MKDW	MKDWELL Tech Ordinary	Pair Corr
0.5	DIOD	Diodes Incorporated	Pair Corr
0.45	ANY	Sphere 3D Corp	Pair Corr
0.41	GPUS	Hyperscale Data, Symbol Change	Pair Corr
0.38	MI	NFT Limited	Pair Corr
0.38	U	Unity Software Trending	Pair Corr
0.32	DM	Desktop Metal	Pair Corr
0.6	ON	ON Semiconductor	Pair Corr
0.6	VECO	Veeco Instruments	Pair Corr
0.57	NN	Nextnav Acquisition Corp	Pair Corr
0.52	KE	Kimball Electronics	Pair Corr
0.47	QH	Quhuo Tech Boost	Pair Corr
0.45	PI	Impinj Inc	Pair Corr
0.35	WK	Workiva	Pair Corr
0.33	KN	Knowles Cor	Pair Corr

Related Correlations Analysis

	DATS	MRIN	FRGT	AUUD	IDBA	ALKT	ISDR	RSSS	SSTI
DATS		0.02	-0.22	-0.34	0.0	-0.44	-0.31	0.11	0.13	DATS
MRIN	0.02		0.35	0.45	0.0	0.28	0.19	0.28	0.04	MRIN
FRGT	-0.22	0.35		0.41	0.0	0.41	0.37	0.53	-0.33	FRGT
AUUD	-0.34	0.45	0.41		0.0	0.74	0.58	0.11	-0.41	AUUD
IDBA	0.0	0.0	0.0	0.0		0.0	0.0	0.0	0.0	IDBA
ALKT	-0.44	0.28	0.41	0.74	0.0		0.57	0.15	-0.52	ALKT
ISDR	-0.31	0.19	0.37	0.58	0.0	0.57		-0.26	-0.57	ISDR
RSSS	0.11	0.28	0.53	0.11	0.0	0.15	-0.26		-0.05	RSSS
SSTI	0.13	0.04	-0.33	-0.41	0.0	-0.52	-0.57	-0.05		SSTI
	DATS	MRIN	FRGT	AUUD	IDBA	ALKT	ISDR	RSSS	SSTI

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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

ALKT	+ 0.74	AUUD
ISDR	+ 0.58	AUUD
ISDR	+ 0.57	ALKT
RSSS	+ 0.53	FRGT
AUUD	+ 0.45	MRIN
AUUD	+ 0.41	FRGT

High negative correlations

SSTI	- 0.57	ISDR
SSTI	- 0.52	ALKT
ALKT	- 0.44	DATS
SSTI	- 0.41	AUUD
AUUD	- 0.34	DATS
SSTI	- 0.33	FRGT

Risk-Adjusted Indicators

There is a big difference between Digihost Stock performing well and Digihost Technology 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 Digihost Technology'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
DATS	15.22	4.37	0.33	0.66	11.26	(22.01)	19.92	(14.42)	419.67
MRIN	2.23	0.01	0.00	0.02	2.37	(3.09)	5.88	(4.33)	16.51
FRGT	4.43	0.01	0.00	0.01	6.04	(5.07)	10.08	(6.59)	35.19
AUUD	4.39	(0.74)	0.00	(0.30)	0.00	0.00	12.82	(10.87)	36.81
IDBA	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
ALKT	1.94	(0.29)	0.00	(0.23)	0.00	0.00	3.62	(4.93)	11.03
ISDR	1.73	(0.13)	0.00	1.43	0.00	0.00	2.88	(3.61)	9.01
RSSS	2.76	0.13	0.04	1.61	3.07	(3.08)	5.57	(5.44)	14.03
SSTI	2.36	0.27	0.10	0.51	2.52	(2.89)	5.33	(4.06)	17.85

Digihost Technology Corporate Management

Daniel Rotunno	Vice Operations	Profile
Donald Christie	COO Director	Profile
Michel Amar	Chairman CEO	Profile
Luke Marchiori	Chief Officer	Profile

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