Gaxosai Correlations

Stocks . USA . 
Stock . Gaxosai
GXAI Stock   1.24  0.03  2.36%   
The current 90-days correlation between Gaxosai and Eltek is 0.08 (i.e., Significant diversification). The correlation of Gaxosai 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.

Gaxosai Correlation With Market

Good diversification

The correlation between Gaxosai and DJI is -0.01 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Gaxosai and DJI in the same portfolio, assuming nothing else is changed.
  
Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in Gaxosai. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in nation.
For more detail on how to invest in Gaxosai Stock please use our How to Invest in Gaxosai guide.

Moving together with Gaxosai Stock

  0.77EA Electronic ArtsPairCorr
  0.83DDI Doubledown InteractivePairCorr
  0.74GMHS Gamehaus Holdings ClassPairCorr
  0.72GRVY GravityPairCorr
  0.78MYPS PlaystudiosPairCorr
  0.86DJCO Daily Journal CorpPairCorr
  0.63EB Eventbrite Class APairCorr

Moving against Gaxosai Stock

  0.59NTES NetEasePairCorr
  0.42SKLZ Skillz PlatformPairCorr
  0.36GIGM Giga MediaPairCorr
  0.74KT KT CorporationPairCorr
  0.67SY So Young InternationalPairCorr
  0.64T ATT Inc Earnings Call This WeekPairCorr
  0.61SE Sea Downward RallyPairCorr
  0.54TTWO Take Two InteractivePairCorr
  0.54BZ Kanzhun Ltd ADRPairCorr
  0.52CURIW CuriosityStreamPairCorr
  0.71YY YY Inc ClassPairCorr
  0.7YQ 17 Education TechnologyPairCorr
  0.69VEON VEON Earnings Call TodayPairCorr
  0.47ZH Zhihu Inc ADR Earnings Call This WeekPairCorr

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   
MRAM
+ 0.71
IMTE
IMTE
+ 0.57
ELTK
NTES
+ 0.51
FKWL
MRAM
+ 0.37
ELTK
VPG
+ 0.36
ELTK
VPG
+ 0.31
IMTE
  
High negative correlations   
MRAM
- 0.7
FKWL
NTES
- 0.61
MRAM
IMTE
- 0.42
FKWL
NTES
- 0.18
IMTE
NTES
- 0.09
ELTK

Risk-Adjusted Indicators

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

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