Micromobility Correlations

Summary

MCOMDelisted Stock

0.09 0 1.44%

A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Micromobility moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Micromobility moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Micromobility Correlation With Market

Good diversification

The correlation between Micromobility 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 Micromobility and DJI in the same portfolio, assuming nothing else is changed.

Check out Correlation Analysis 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 persons.

Moving together with Micromobility Stock

0.67	FRZA	Forza X1	Pair Corr
0.62	BC-PC	Brunswick Corp	Pair Corr
0.82	MCOMW	Micromobility	Pair Corr
0.82	CNRD	Conrad Industries	Pair Corr
0.91	EBET	Ebet Inc	Pair Corr
0.64	FIGS	Figs Inc	Pair Corr
0.79	AVY	Avery Dennison Corp	Pair Corr
0.79	CYD	China Yuchai Interna Upward Rally	Pair Corr
0.74	IPW	iPower Inc	Pair Corr
0.85	IVP	Inspire Veterinary	Pair Corr
0.61	FXLV	F45 Training Holdings	Pair Corr

Moving against Micromobility Stock

0.79	VSTO	Vista Outdoor	Pair Corr
0.74	IP	International Paper	Pair Corr
0.71	DRVN	Driven Brands Holdings	Pair Corr
0.65	SW	Smurfit WestRock plc	Pair Corr
0.52	EFOI	Energy Focu	Pair Corr
0.43	DXYN	Dixie Group	Pair Corr
0.65	FLUT	Flutter Entertainment plc	Pair Corr
0.58	GEF	Greif Bros	Pair Corr
0.57	WBUY	WEBUY GLOBAL LTD	Pair Corr
0.83	PKG	Packaging Corp Fiscal Year End 22nd of January 2025	Pair Corr
0.8	KRT	Karat Packaging	Pair Corr
0.78	MLR	Miller Industries	Pair Corr
0.71	NCL	Northann Corp	Pair Corr
0.7	KAR	KAR Auction Services	Pair Corr
0.49	KFS	Kingsway Financial	Pair Corr

Related Correlations Analysis

	ATO	UTI	ZNAE	IH	SCHL	ARIS	AFYA	AM
ATO		0.52	0.0	-0.52	-0.15	0.64	0.03	0.69	ATO
UTI	0.52		0.0	-0.58	-0.31	0.9	-0.49	0.29	UTI
ZNAE	0.0	0.0		0.0	0.0	0.0	0.0	0.0	ZNAE
IH	-0.52	-0.58	0.0		0.26	-0.64	0.2	-0.17	IH
SCHL	-0.15	-0.31	0.0	0.26		-0.23	0.29	0.04	SCHL
ARIS	0.64	0.9	0.0	-0.64	-0.23		-0.29	0.48	ARIS
AFYA	0.03	-0.49	0.0	0.2	0.29	-0.29		0.12	AFYA
AM	0.69	0.29	0.0	-0.17	0.04	0.48	0.12		AM
	ATO	UTI	ZNAE	IH	SCHL	ARIS	AFYA	AM

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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

ARIS	+ 0.9	UTI
AM	+ 0.69	ATO
ARIS	+ 0.64	ATO
UTI	+ 0.52	ATO
AM	+ 0.48	ARIS
AM	+ 0.29	UTI

High negative correlations

ARIS	- 0.64	IH
IH	- 0.58	UTI
IH	- 0.52	ATO
AFYA	- 0.49	UTI
SCHL	- 0.31	UTI
AFYA	- 0.29	ARIS

Risk-Adjusted Indicators

There is a big difference between Micromobility Stock performing well and Micromobility 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 Micromobility'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
ATO	0.70	0.01	0.00	0.06	1.01	(0.69)	1.44	(1.56)	5.58
UTI	2.07	0.68	0.28	0.30	1.86	(2.42)	4.59	(3.14)	27.29
ZNAE	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
IH	2.64	0.18	0.06	0.26	2.84	(3.03)	6.16	(4.88)	22.95
SCHL	2.47	(0.54)	0.00	(0.36)	0.00	0.00	6.18	(6.45)	27.04
ARIS	2.69	0.56	0.19	0.31	2.59	(3.03)	6.46	(5.49)	32.63
AFYA	1.48	(0.07)	0.00	(0.07)	0.00	0.00	2.68	(2.99)	9.86
AM	1.08	0.00	0.00	0.04	1.61	(1.03)	2.27	(2.40)	7.91

Micromobility 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 Micromobility stock to make a market-neutral strategy. Peer analysis of Micromobility could also be used in its relative valuation, which is a method of valuing Micromobility by comparing valuation metrics with similar companies.

Atmos Energy Universal Technical Institute Zane Interactive Publishing Ihuman Inc Scholastic Aris Water Solutions Afya Antero Midstream Partners American Airlines Group Alcoa Corp Apple Inc Best Buy Co Citigroup SentinelOne CVS Health Corp

Risk & Return

Correlation

Still Interested in Micromobility?

Investing in delisted delisted stocks can be risky, as the stock is no longer traded on a public exchange and can therefore be difficult to sell. Delisting typically occurs when a company has failed to meet exchange requirements or has been acquired. Before investing, it's important to thoroughly research the company, including its financial health and prospects for the future, as well as the reasons for its delisting. Additionally, it may be difficult to find accurate and up-to-date information on the company and its stock.

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