Embrace Change Correlations

EMCGW Stock

USD 0.04 0 2.53%

The current 90-days correlation between Embrace Change Acqui and Embrace Change Acquisition is 0.11 (i.e., Average diversification). The correlation of Embrace Change 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.

Embrace Change Correlation With Market

Very good diversification

The correlation between Embrace Change Acquisition and DJI is -0.22 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Embrace Change Acquisition and DJI in the same portfolio, assuming nothing else is changed.

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

Moving against Embrace Stock

0.47	SYF	Synchrony Financial	Pair Corr
0.45	ECPG	Encore Capital Group	Pair Corr
0.45	AXP	American Express	Pair Corr
0.38	ORGN	Origin Materials	Pair Corr
0.36	DFS	Discover Financial	Pair Corr
0.31	COF	Capital One Financial	Pair Corr
0.51	CODI	Compass Diversified	Pair Corr
0.47	SOFI	SoFi Technologies Aggressive Push	Pair Corr
0.45	AX	Axos Financial	Pair Corr
0.41	PYPL	PayPal Holdings	Pair Corr
0.41	BITF	Bitfarms	Pair Corr
0.37	UPST	Upstart Holdings	Pair Corr
0.34	APAM	Artisan Partners Asset	Pair Corr
0.32	DHIL	Diamond Hill Investment	Pair Corr
0.48	CM	Canadian Imperial Bank	Pair Corr
0.47	FG	FG Annuities Life	Pair Corr
0.46	BX	Blackstone Group	Pair Corr
0.45	BY	Byline Bancorp	Pair Corr
0.44	LC	LendingClub Corp	Pair Corr
0.42	CG	Carlyle Group Normal Trading	Pair Corr

Related Correlations Analysis

	EMCG	ENERW	EVGRW	EMLDW	ENTFW
EMCG		0.0	0.13	0.0	0.0	EMCG
ENERW	0.0		0.0	0.0	0.0	ENERW
EVGRW	0.13	0.0		0.0	0.0	EVGRW
EMLDW	0.0	0.0	0.0		0.0	EMLDW
ENTFW	0.0	0.0	0.0	0.0		ENTFW
	EMCG	ENERW	EVGRW	EMLDW	ENTFW

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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

EVGRW	+ 0.13	EMCG
ENERW	+ 0.0	EMCG
EMLDW	+ 0.0	EMCG
ENTFW	+ 0.0	EMCG
EVGRW	+ 0.0	ENERW
EMLDW	+ 0.0	ENERW

High negative correlations

ENTFW	- 0.0	EMLDW
ENTFW	- 0.0	EVGRW
EMLDW	- 0.0	EVGRW
ENTFW	- 0.0	ENERW
EMLDW	- 0.0	ENERW
EVGRW	- 0.0	ENERW

Risk-Adjusted Indicators

There is a big difference between Embrace Stock performing well and Embrace Change 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 Embrace Change'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
EMCG	0.17	0.03	0.05	(2.29)	0.16	(0.36)	0.60	(0.25)	2.45
ENERW	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
EVGRW	15.45	3.31	0.15	(5.01)	14.41	(24.31)	46.45	(25.89)	138.08
EMLDW	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
ENTFW	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00

Embrace Change Related Equities

One of the popular trading techniques among algorithmic traders is to use market-neutral strategies where every trade hedges away some risk. Because there are two separate transactions required, even if one position performs unexpectedly, the other equity can make up some of the losses. Below are some of the equities that can be combined with Embrace Change stock to make a market-neutral strategy. Peer analysis of Embrace Change could also be used in its relative valuation, which is a method of valuing Embrace Change by comparing valuation metrics with similar companies.

Embrace Change Acquisition Accretion Acquisition Corp Evergreen Warrant EMLDW Old Enterprise 40 Technology American Airlines Group Alcoa Corp Apple Inc Best Buy Co Citigroup SentinelOne CVS Health Corp Chevron Corp Home Depot International Business Machines

Risk & Return

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