Magic Empire Correlations
| MEGL Stock | USD 1.44 0.04 2.70% |
The current 90-days correlation between Magic Empire Global and Netcapital is 0.29 (i.e., Modest diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Magic Empire moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Magic Empire Global moves in either direction, the perfectly negatively correlated security will move in the opposite direction.
Magic Empire Correlation With Market
Significant diversification
The correlation between Magic Empire Global and DJI is 0.06 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Magic Empire Global and DJI in the same portfolio, assuming nothing else is changed.
Magic |
Moving together with Magic Stock
| 0.74 | SYF | Synchrony Financial | PairCorr |
| 0.71 | ORGN | Origin Materials | PairCorr |
| 0.65 | PYPL | PayPal Holdings | PairCorr |
| 0.84 | BITF | Bitfarms | PairCorr |
Moving against Magic Stock
| 0.66 | RENEW | Cartesian Growth | PairCorr |
| 0.65 | WSBF | Waterstone Financial | PairCorr |
| 0.47 | V | Visa Class A | PairCorr |
| 0.45 | GDST | Goldenstone Acquisition | PairCorr |
| 0.36 | MA | Mastercard | PairCorr |
| 0.53 | COOP | Mr Cooper Group | PairCorr |
| 0.33 | BK | Bank of New York | PairCorr |
| 0.32 | SNFCA | Security National Earnings Call This Week | PairCorr |
| 0.66 | LU | Lufax Holding | PairCorr |
| 0.62 | CB | Chubb | PairCorr |
| 0.61 | DB | Deutsche Bank AG | PairCorr |
| 0.59 | LX | Lexinfintech Holdings | PairCorr |
| 0.44 | HG | Hamilton Insurance Group, | PairCorr |
| 0.38 | GL | Globe Life | PairCorr |
Related Correlations Analysis
| Click cells to compare fundamentals | Check Volatility | Backtest Portfolio |
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
| High negative correlations
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Risk-Adjusted Indicators
There is a big difference between Magic Stock performing well and Magic Empire 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 Magic Empire'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| GHL | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
| NCPL | 3.11 | (0.28) | 0.00 | 0.33 | 0.00 | 6.45 | 19.61 | |||
| APLD | 5.79 | 0.12 | 0.02 | 1.81 | 8.69 | 11.13 | 44.47 | |||
| TCJH | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
| TOP | 2.32 | (0.01) | 0.02 | 0.02 | 2.55 | 5.41 | 12.57 | |||
| SAI | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
| AGBA | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
| MFH | 4.83 | 0.18 | 0.02 | 0.06 | 6.03 | 12.62 | 33.70 | |||
| LAZ | 1.96 | (0.16) | 0.00 | (0.64) | 0.00 | 4.04 | 14.41 |