Enlightify Correlations

ENFY Stock   1.07  0.01  0.94%   
The correlation of Enlightify 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.

Enlightify Correlation With Market

Modest diversification

The correlation between Enlightify and DJI is 0.22 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Enlightify 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 Enlightify. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in census.
For more information on how to buy Enlightify Stock please use our How to Invest in Enlightify guide.

Moving together with Enlightify Stock

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Moving against Enlightify Stock

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  0.38ECVT EcovystPairCorr

Related Correlations Analysis

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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   
APGETSRYF
APGESNDL
VMDSNDL
VMDFIZZ
TSRYFSNDL
VMDAPGE
  
High negative correlations   
VDKBSNDL
APGEVDKB
VMDVDKB
TSRYFVDKB
TSRYFFIZZ
VMDDWWEF

Risk-Adjusted Indicators

There is a big difference between Enlightify Stock performing well and Enlightify 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 Enlightify'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.