Finnovate Acquisition Correlations

FNVT Stock

USD 11.62 0.00 0.00%

The current 90-days correlation between Finnovate Acquisition and Visa Class A is 0.04 (i.e., Significant diversification). The correlation of Finnovate Acquisition 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.

Finnovate Acquisition Correlation With Market

Average diversification

The correlation between Finnovate Acquisition Corp and DJI is 0.17 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Finnovate Acquisition Corp 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 Finnovate Acquisition Corp. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in real.

Moving together with Finnovate Stock

0.84	CG	Carlyle Group	Pair Corr
0.81	MA	Mastercard	Pair Corr
0.79	MS	Morgan Stanley Fiscal Year End 21st of January 2025	Pair Corr
0.82	APO	Apollo Global Management	Pair Corr
0.73	AXP	American Express Sell-off Trend	Pair Corr
0.85	BAM	Brookfield Asset Man	Pair Corr
0.86	BLK	BlackRock Fiscal Year End 10th of January 2025	Pair Corr
0.72	COF	Capital One Financial Fiscal Year End 23rd of January 2025	Pair Corr
0.7	DFS	Discover Financial Fiscal Year End 15th of January 2025	Pair Corr
0.81	KKR	KKR Co LP	Pair Corr
0.74	SYF	Synchrony Financial Fiscal Year End 28th of January 2025	Pair Corr
0.83	PYPL	PayPal Holdings	Pair Corr
0.75	APAM	Artisan Partners Asset Fiscal Year End 4th of February 2025	Pair Corr
0.7	SOFI	SoFi Technologies Aggressive Push	Pair Corr
0.69	UPST	Upstart Holdings Buyout Trend	Pair Corr
0.67	C	Citigroup Fiscal Year End 10th of January 2025	Pair Corr
0.81	AB	AllianceBernstein	Pair Corr
0.8	AC	Associated Capital	Pair Corr
0.83	BK	Bank of New York Fiscal Year End 10th of January 2025	Pair Corr
0.8	BN	Brookfield Corp	Pair Corr
0.77	BX	Blackstone Group Fiscal Year End 23rd of January 2025	Pair Corr
0.82	CM	Canadian Imperial Bank Earnings Call This Week	Pair Corr
0.63	GL	Globe Life	Pair Corr
0.69	GS	Goldman Sachs Group Fiscal Year End 21st of January 2025	Pair Corr
0.67	LC	LendingClub Corp	Pair Corr

Moving against Finnovate Stock

0.81	IX	Orix Corp Ads	Pair Corr
0.63	WU	Western Union	Pair Corr
0.56	RM	Regional Management Corp Normal Trading	Pair Corr
0.52	PT	Pintec Technology	Pair Corr
0.51	TD	Toronto Dominion Bank Earnings Call This Week	Pair Corr
0.51	XP	Xp Inc	Pair Corr
0.39	HG	Hamilton Insurance Group,	Pair Corr

Related Correlations Analysis

	V	DHIL	AC	BN	BX	DB	DX
V		0.81	0.53	0.75	0.87	-0.16	0.51	V
DHIL	0.81		0.48	0.77	0.78	-0.01	0.56	DHIL
AC	0.53	0.48		0.81	0.77	0.52	0.24	AC
BN	0.75	0.77	0.81		0.92	0.35	0.47	BN
BX	0.87	0.78	0.77	0.92		0.14	0.54	BX
DB	-0.16	-0.01	0.52	0.35	0.14		-0.11	DB
DX	0.51	0.56	0.24	0.47	0.54	-0.11		DX
	V	DHIL	AC	BN	BX	DB	DX

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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

BX	+ 0.92	BN
BX	+ 0.87	V
DHIL	+ 0.81	V
BN	+ 0.81	AC
BX	+ 0.78	DHIL
BN	+ 0.77	DHIL

High negative correlations

DB	- 0.16	V
DX	- 0.11	DB
DB	- 0.01	DHIL

Risk-Adjusted Indicators

There is a big difference between Finnovate Stock performing well and Finnovate Acquisition 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 Finnovate Acquisition'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
V	0.81	0.13	0.08	0.29	1.06	(0.92)	2.23	(1.30)	7.73
DHIL	1.24	(0.06)	0.00	0.08	1.16	(1.59)	2.22	(2.05)	9.06
AC	1.18	0.10	0.04	0.24	1.69	(1.24)	3.02	(2.64)	12.11
BN	1.23	0.16	0.15	0.23	1.15	(1.41)	2.45	(1.92)	6.44
BX	1.35	0.28	0.23	0.31	1.03	(1.55)	3.21	(2.21)	9.25
DB	1.37	0.00	(0.02)	0.11	1.76	(1.42)	3.08	(2.93)	8.64
DX	0.75	(0.01)	(0.07)	0.09	1.02	(0.73)	1.38	(1.47)	4.37

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