Digital Ally Correlations

DGLY Stock

USD 0.07 0.0005 0.71%

The current 90-days correlation between Digital Ally and Zedge Inc is 0.06 (i.e., Significant diversification). The correlation of Digital Ally 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.

Digital Ally Correlation With Market

Average diversification

The correlation between Digital Ally and DJI is 0.12 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Digital Ally 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 Digital Ally. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in bureau of economic analysis.

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

Moving together with Digital Stock

0.72	DM	Desktop Metal Tech Boost	Pair Corr
0.75	KE	Kimball Electronics	Pair Corr
0.82	KN	Knowles Cor	Pair Corr
0.7	DSWL	Deswell Industries	Pair Corr
0.91	EBON	Ebang International	Pair Corr
0.84	EHGO	Eshallgo Class A	Pair Corr
0.9	EXTR	Extreme Networks	Pair Corr
0.68	APH	Amphenol	Pair Corr
0.7	BDC	Belden Inc	Pair Corr
0.9	BHE	Benchmark Electronics	Pair Corr
0.94	CTS	CTS Corporation	Pair Corr
0.8	IDN	Intellicheck Mobilisa Tech Boost	Pair Corr
0.69	MEI	Methode Electronics	Pair Corr
0.7	MOB	Mobilicom Limited	Pair Corr
0.65	MSI	Motorola Solutions	Pair Corr

Moving against Digital Stock

0.53	VIAV	Viavi Solutions	Pair Corr
0.34	SATLW	Satellogic Warrant	Pair Corr
0.84	FKWL	Franklin Wireless Corp	Pair Corr
0.72	DLB	Dolby Laboratories	Pair Corr
0.67	FFIV	F5 Networks	Pair Corr
0.84	NOK	Nokia Corp ADR Aggressive Push	Pair Corr
0.58	OST	Ostin Technology	Pair Corr
0.48	SNT	Senstar Technologies	Pair Corr
0.45	LPL	LG Display	Pair Corr
0.42	GAUZ	Gauzy Ordinary	Pair Corr
0.35	OCC	Optical Cable	Pair Corr

Related Correlations Analysis

	LIZI	ZDGE	EGLX	KRKR	LTRPA	MAX	SEAT	CMCM	ATHM
LIZI		0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	LIZI
ZDGE	0.0		0.0	0.07	0.0	0.64	0.54	0.1	-0.27	ZDGE
EGLX	0.0	0.0		0.0	0.0	0.0	0.0	0.0	0.0	EGLX
KRKR	0.0	0.07	0.0		0.0	0.11	0.14	-0.07	0.43	KRKR
LTRPA	0.0	0.0	0.0	0.0		0.0	0.0	0.0	0.0	LTRPA
MAX	0.0	0.64	0.0	0.11	0.0		0.44	0.1	-0.37	MAX
SEAT	0.0	0.54	0.0	0.14	0.0	0.44		-0.26	-0.16	SEAT
CMCM	0.0	0.1	0.0	-0.07	0.0	0.1	-0.26		0.33	CMCM
ATHM	0.0	-0.27	0.0	0.43	0.0	-0.37	-0.16	0.33		ATHM
	LIZI	ZDGE	EGLX	KRKR	LTRPA	MAX	SEAT	CMCM	ATHM

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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

MAX	+ 0.64	ZDGE
SEAT	+ 0.54	ZDGE
SEAT	+ 0.44	MAX
ATHM	+ 0.43	KRKR
ATHM	+ 0.33	CMCM
SEAT	+ 0.14	KRKR

High negative correlations

ATHM	- 0.37	MAX
ATHM	- 0.27	ZDGE
CMCM	- 0.26	SEAT
ATHM	- 0.16	SEAT
CMCM	- 0.07	KRKR
ATHM	- 0.0	LTRPA

Risk-Adjusted Indicators

There is a big difference between Digital Stock performing well and Digital Ally 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 Digital Ally'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
LIZI	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
ZDGE	4.00	0.14	0.00	(0.03)	0.00	0.00	10.73	(9.65)	49.03
EGLX	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
KRKR	7.44	1.32	0.14	18.34	8.96	(9.47)	12.33	(16.38)	154.10
LTRPA	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
MAX	2.73	(0.11)	0.00	(0.25)	0.00	0.00	5.77	(6.38)	25.45
SEAT	2.81	(0.32)	0.00	1.78	0.00	0.00	4.38	(5.31)	42.87
CMCM	3.84	0.06	0.00	(0.07)	0.00	0.00	9.21	(6.77)	24.01
ATHM	1.52	0.28	0.15	0.34	1.79	(1.57)	3.57	(3.41)	8.70

Digital Ally Corporate Executives

Elected by the shareholders, the Digital Ally's board of directors comprises two types of representatives: Digital Ally inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Digital. The board's role is to monitor Digital Ally's management team and ensure that shareholders' interests are well served. Digital Ally's inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, Digital Ally's outside directors are responsible for providing unbiased perspectives on the board's policies.

Thomas Heckman

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