Fitell Ordinary Correlations

FTEL Stock

27.00 1.01 3.89%

The current 90-days correlation between Fitell Ordinary and Movado Group is 0.14 (i.e., Average diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Fitell Ordinary moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Fitell Ordinary moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Fitell Ordinary Correlation With Market

Good diversification

The correlation between Fitell Ordinary and DJI is -0.14 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Fitell Ordinary 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 Fitell Ordinary. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in income.

For more information on how to buy Fitell Stock please use our How to buy in Fitell Stock guide.

Moving together with Fitell Stock

0.66	WEYS	Weyco Group	Pair Corr
0.79	DOGZ	Dogness International Upward Rally	Pair Corr
0.64	ADT	ADT Inc	Pair Corr
0.86	BYD	Boyd Gaming	Pair Corr

Moving against Fitell Stock

0.84	GPC	Genuine Parts	Pair Corr
0.83	HVT	Haverty Furniture	Pair Corr
0.77	BBY	Best Buy	Pair Corr
0.72	NEGG	Newegg Commerce	Pair Corr
0.7	ARHS	Arhaus Inc	Pair Corr
0.67	ASO	Academy Sports Outdoors Earnings Call Today	Pair Corr
0.6	YJ	Yunji Inc	Pair Corr
0.57	GV	Visionary Education	Pair Corr
0.53	BGI	Birks Group	Pair Corr
0.81	DOOO	BRP Inc Earnings Call Today	Pair Corr
0.8	WING	Wingstop	Pair Corr
0.77	CCS	Century Communities	Pair Corr
0.76	DAN	Dana Inc	Pair Corr
0.62	EDTK	Skillful Craftsman	Pair Corr
0.33	VC	Visteon Corp	Pair Corr

Related Correlations Analysis

	TPR	MOV	LANV	REAL	FOSL	CPRI	MYTE	CTHR	ELA
TPR		-0.17	-0.53	0.91	0.68	-0.73	0.52	-0.66	0.89	TPR
MOV	-0.17		0.1	-0.07	-0.01	-0.01	-0.29	0.05	-0.17	MOV
LANV	-0.53	0.1		-0.59	-0.45	0.32	-0.38	0.21	-0.58	LANV
REAL	0.91	-0.07	-0.59		0.65	-0.54	0.49	-0.5	0.9	REAL
FOSL	0.68	-0.01	-0.45	0.65		-0.45	0.48	-0.59	0.45	FOSL
CPRI	-0.73	-0.01	0.32	-0.54	-0.45		-0.35	0.74	-0.61	CPRI
MYTE	0.52	-0.29	-0.38	0.49	0.48	-0.35		-0.71	0.34	MYTE
CTHR	-0.66	0.05	0.21	-0.5	-0.59	0.74	-0.71		-0.42	CTHR
ELA	0.89	-0.17	-0.58	0.9	0.45	-0.61	0.34	-0.42		ELA
	TPR	MOV	LANV	REAL	FOSL	CPRI	MYTE	CTHR	ELA

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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

REAL	+ 0.91	TPR
ELA	+ 0.9	REAL
ELA	+ 0.89	TPR
CTHR	+ 0.74	CPRI
FOSL	+ 0.68	TPR
FOSL	+ 0.65	REAL

High negative correlations

CPRI	- 0.73	TPR
CTHR	- 0.71	MYTE
CTHR	- 0.66	TPR
ELA	- 0.61	CPRI
CTHR	- 0.59	FOSL
REAL	- 0.59	LANV

Risk-Adjusted Indicators

There is a big difference between Fitell Stock performing well and Fitell Ordinary 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 Fitell Ordinary'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
TPR	1.76	0.64	0.46	2.73	0.72	(2.43)	3.64	(1.76)	16.39
MOV	1.83	(0.38)	0.00	(0.18)	0.00	0.00	4.03	(3.21)	15.00
LANV	3.97	0.01	0.00	0.11	0.00	0.00	11.18	(10.83)	26.86
REAL	3.25	0.97	0.33	0.49	2.50	(4.03)	9.52	(4.09)	23.62
FOSL	3.51	0.56	0.10	(1.49)	3.65	(4.27)	8.91	(6.31)	19.38
CPRI	2.65	(0.56)	0.00	(0.18)	0.00	0.00	6.04	(4.25)	56.42
MYTE	4.17	0.93	0.32	0.62	2.67	(6.07)	11.11	(5.59)	67.36
CTHR	3.03	(0.36)	0.00	(0.32)	0.00	0.00	7.85	(6.77)	23.29
ELA	1.33	0.42	0.19	4.57	0.95	(1.82)	3.53	(1.71)	9.11

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