Ebang International Correlations

EBON Stock

USD 4.95 0.17 3.32%

The current 90-days correlation between Ebang International and D Wave Quantum is 0.32 (i.e., Weak diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Ebang International moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Ebang International Holdings moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Ebang International Correlation With Market

Average diversification

The correlation between Ebang International Holdings and DJI is 0.11 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Ebang International Holdings 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 Ebang International Holdings. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in persons.

Moving together with Ebang Stock

0.66	KE	Kimball Electronics	Pair Corr
0.76	BDC	Belden Inc	Pair Corr
0.75	BHE	Benchmark Electronics	Pair Corr
0.83	CTS	CTS Corporation	Pair Corr
0.64	MSI	Motorola Solutions	Pair Corr
0.87	BELFA	Bel Fuse A	Pair Corr
0.71	PLXS	Plexus Corp	Pair Corr
0.71	RELL	Richardson Electronics	Pair Corr

Moving against Ebang Stock

0.81	JBL	Jabil Circuit	Pair Corr
0.74	NOK	Nokia Corp ADR	Pair Corr
0.7	CLS	Celestica	Pair Corr
0.69	FKWL	Franklin Wireless Corp	Pair Corr
0.55	CDW	CDW Corp	Pair Corr
0.54	FLEX	Flex	Pair Corr
0.71	ADTN	ADTRAN Inc	Pair Corr
0.69	AUDC	AudioCodes	Pair Corr
0.66	AVNW	Aviat Networks	Pair Corr
0.65	NTGR	NETGEAR	Pair Corr
0.61	TSAT	Telesat Corp	Pair Corr
0.61	CIEN	Ciena Corp Earnings Call This Week	Pair Corr
0.52	SANM	Sanmina	Pair Corr
0.46	CLFD	Clearfield	Pair Corr
0.38	KVHI	KVH Industries	Pair Corr
0.38	OSIS	OSI Systems	Pair Corr
0.75	VRRM	Verra Mobility Corp Earnings Call Today	Pair Corr
0.67	ENFN	Enfusion	Pair Corr
0.61	CSCO	Cisco Systems	Pair Corr
0.61	KD	Kyndryl Holdings Sell-off Trend	Pair Corr

Related Correlations Analysis

	NNDM	DM	HPQ	CRCT	SSYS	VLD	PSTG	STX	DELL	WDC
NNDM		-0.45	-0.62	0.41	0.38	0.0	0.59	-0.38	-0.48	-0.35	NNDM
DM	-0.45		0.81	-0.52	-0.17	0.0	-0.77	0.07	0.77	0.43	DM
HPQ	-0.62	0.81		-0.49	-0.17	0.0	-0.74	0.28	0.83	0.53	HPQ
CRCT	0.41	-0.52	-0.49		0.13	0.0	0.64	-0.12	-0.47	-0.23	CRCT
SSYS	0.38	-0.17	-0.17	0.13		0.0	0.41	0.35	-0.28	0.28	SSYS
VLD	0.0	0.0	0.0	0.0	0.0		0.0	0.0	0.0	0.0	VLD
PSTG	0.59	-0.77	-0.74	0.64	0.41	0.0		0.1	-0.75	-0.12	PSTG
STX	-0.38	0.07	0.28	-0.12	0.35	0.0	0.1		0.11	0.71	STX
DELL	-0.48	0.77	0.83	-0.47	-0.28	0.0	-0.75	0.11		0.4	DELL
WDC	-0.35	0.43	0.53	-0.23	0.28	0.0	-0.12	0.71	0.4		WDC
	NNDM	DM	HPQ	CRCT	SSYS	VLD	PSTG	STX	DELL	WDC

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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

DELL	+ 0.83	HPQ
HPQ	+ 0.81	DM
DELL	+ 0.77	DM
WDC	+ 0.71	STX
PSTG	+ 0.64	CRCT
PSTG	+ 0.59	NNDM

High negative correlations

PSTG	- 0.77	DM
DELL	- 0.75	PSTG
PSTG	- 0.74	HPQ
HPQ	- 0.62	NNDM
CRCT	- 0.52	DM
CRCT	- 0.49	HPQ

Risk-Adjusted Indicators

There is a big difference between Ebang Stock performing well and Ebang International 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 Ebang International'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
NNDM	2.78	0.18	0.06	(0.27)	2.69	(3.71)	8.44	(4.10)	23.92
DM	4.00	(0.86)	0.00	(1.25)	0.00	0.00	9.17	(9.35)	24.83
HPQ	1.27	(0.06)	0.00	(0.77)	0.00	0.00	2.24	(1.95)	14.73
CRCT	1.80	0.21	0.09	(0.45)	2.05	(1.97)	5.14	(3.28)	10.12
SSYS	2.73	0.31	0.11	0.65	2.47	(3.41)	6.46	(3.48)	26.62
VLD	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
PSTG	2.31	0.38	0.12	1.35	2.87	(2.38)	4.03	(4.82)	31.57
STX	1.34	0.06	0.03	0.10	1.73	(1.45)	3.19	(3.10)	11.20
DELL	2.12	(0.27)	0.00	(0.65)	0.00	0.00	3.80	(4.74)	16.05
WDC	1.93	0.03	0.01	0.04	2.33	(2.16)	4.74	(4.46)	12.72

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