Ebang International Correlations

EBON Stock

USD 4.06 0.04 0.98%

The current 90-days correlation between Ebang International and D Wave Quantum is 0.38 (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

Modest diversification

The correlation between Ebang International Holdings 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 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	FLEX	Flex	Pair Corr
0.74	HPQ	HP Inc Sell-off Trend	Pair Corr
0.76	WBX	Wallbox NV	Pair Corr
0.64	LFUS	Littelfuse	Pair Corr
0.84	AIRG	Airgain	Pair Corr
0.74	S	SentinelOne	Pair Corr
0.74	NN	Nextnav Acquisition Corp Tech Boost	Pair Corr
0.87	CRM	Salesforce	Pair Corr
0.88	TDC	Teradata Corp	Pair Corr
0.66	PATH	Uipath Inc	Pair Corr
0.95	SLNH	Soluna Holdings	Pair Corr
0.79	PPERF	Bank Mandiri Persero	Pair Corr
0.85	PPERY	Bank Mandiri Persero Normal Trading	Pair Corr
0.75	PBCRF	PT Bank Central	Pair Corr
0.9	PBCRY	Bank Central Asia	Pair Corr
0.79	BKRKY	Bank Rakyat Normal Trading	Pair Corr
0.69	TLKMF	Telkom Indonesia Tbk	Pair Corr
0.79	TLK	Telkom Indonesia Tbk	Pair Corr

Moving against Ebang Stock

0.77	ALTR	Altair Engineering	Pair Corr
0.72	MQ	Marqeta	Pair Corr
0.62	JG	Aurora Mobile	Pair Corr
0.56	MLGO	MicroAlgo Trending	Pair Corr
0.53	CSCO	Cisco Systems Aggressive Push	Pair Corr
0.48	ZS	Zscaler	Pair Corr
0.32	GB	Global Blue Group	Pair Corr
0.31	BB	BlackBerry Earnings Call This Week	Pair Corr
0.93	JNJ	Johnson Johnson	Pair Corr
0.9	T	ATT Inc Aggressive Push	Pair Corr
0.9	VZ	Verizon Communications Aggressive Push	Pair Corr
0.84	TRV	The Travelers Companies	Pair Corr
0.82	WM	Waste Management	Pair Corr
0.75	MCD	McDonalds	Pair Corr
0.68	IBM	International Business	Pair Corr
0.67	XOM	Exxon Mobil Corp Earnings Call This Week	Pair Corr
0.53	PG	Procter Gamble	Pair Corr
0.5	CWCO	Consolidated Water	Pair Corr
0.42	300131	ShenZhen Yitoa Intel	Pair Corr
0.31	SSNLF	Samsung Electronics	Pair Corr

Related Correlations Analysis

	NNDM	DM	HPQ	CRCT	SSYS	VLD	PSTG	STX	DELL	WDC
NNDM		-0.1	0.62	0.51	0.16	0.0	0.7	0.09	0.6	0.45	NNDM
DM	-0.1		-0.04	-0.02	0.06	0.0	0.03	-0.25	0.14	-0.04	DM
HPQ	0.62	-0.04		0.74	0.09	0.0	0.85	0.5	0.87	0.79	HPQ
CRCT	0.51	-0.02	0.74		-0.01	0.0	0.6	0.36	0.75	0.62	CRCT
SSYS	0.16	0.06	0.09	-0.01		0.0	0.17	0.42	-0.06	0.39	SSYS
VLD	0.0	0.0	0.0	0.0	0.0		0.0	0.0	0.0	0.0	VLD
PSTG	0.7	0.03	0.85	0.6	0.17	0.0		0.56	0.74	0.82	PSTG
STX	0.09	-0.25	0.5	0.36	0.42	0.0	0.56		0.28	0.79	STX
DELL	0.6	0.14	0.87	0.75	-0.06	0.0	0.74	0.28		0.7	DELL
WDC	0.45	-0.04	0.79	0.62	0.39	0.0	0.82	0.79	0.7		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	+ 0.87	HPQ
PSTG	+ 0.85	HPQ
WDC	+ 0.82	PSTG
WDC	+ 0.79	HPQ
WDC	+ 0.79	STX
DELL	+ 0.75	CRCT

High negative correlations

STX	- 0.25	DM
DM	- 0.1	NNDM
DELL	- 0.06	SSYS
WDC	- 0.04	DM
HPQ	- 0.04	DM
CRCT	- 0.02	DM

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	2.36	(0.46)	0.00	(0.60)	0.00	0.00	4.80	(4.20)	25.84
DM	6.57	1.08	0.17	0.69	5.52	(8.74)	14.96	(10.66)	33.41
HPQ	1.18	(0.17)	0.00	(0.24)	0.00	0.00	1.82	(2.52)	9.02
CRCT	1.79	(0.19)	0.00	(0.24)	0.00	0.00	3.78	(3.53)	11.15
SSYS	2.44	0.13	0.06	0.18	2.21	(3.24)	6.12	(3.36)	27.38
VLD	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
PSTG	2.29	(0.27)	0.00	(0.20)	0.00	0.00	3.38	(5.79)	20.50
STX	1.48	(0.04)	0.00	(0.04)	0.00	0.00	3.20	(4.35)	13.10
DELL	2.33	(0.20)	0.00	(0.21)	0.00	0.00	3.96	(4.70)	12.66
WDC	2.08	(0.15)	0.00	(0.11)	0.00	0.00	4.74	(5.06)	13.32

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