NFT Correlations

MI Stock

2.58 0.38 17.27%

The current 90-days correlation between NFT Limited and CVR Energy is 0.14 (i.e., Average diversification). The correlation of NFT 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.

NFT Correlation With Market

Average diversification

The correlation between NFT Limited and DJI is 0.18 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding NFT Limited and DJI in the same portfolio, assuming nothing else is changed.

Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in NFT Limited. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in gross domestic product.

Moving together with NFT Stock

0.62	GPUS	Hyperscale Data, Symbol Change	Pair Corr
0.83	MKDW	MKDWELL Tech Ordinary	Pair Corr

Moving against NFT Stock

0.75	VCSA	Vacasa Inc	Pair Corr
0.58	FUBO	Fubotv Inc	Pair Corr
0.57	CXDO	Crexendo	Pair Corr
0.52	BB	BlackBerry	Pair Corr
0.48	JG	Aurora Mobile Tech Boost	Pair Corr
0.48	ZS	Zscaler	Pair Corr
0.37	FI	Fiserv,	Pair Corr
0.36	KD	Kyndryl Holdings	Pair Corr
0.35	MX	MagnaChip Semiconductor	Pair Corr

Related Correlations Analysis

	CVI	IAS	SPHR	CDW	SPMMF	ACI	SPG-PJ	PLTK
CVI		-0.25	0.21	0.43	0.0	0.03	0.14	0.24	CVI
IAS	-0.25		0.57	0.42	0.0	-0.4	0.02	0.33	IAS
SPHR	0.21	0.57		0.85	0.0	0.0	-0.04	0.8	SPHR
CDW	0.43	0.42	0.85		0.0	-0.05	0.2	0.72	CDW
SPMMF	0.0	0.0	0.0	0.0		0.0	0.0	0.0	SPMMF
ACI	0.03	-0.4	0.0	-0.05	0.0		-0.09	-0.04	ACI
SPG-PJ	0.14	0.02	-0.04	0.2	0.0	-0.09		0.14	SPG-PJ
PLTK	0.24	0.33	0.8	0.72	0.0	-0.04	0.14		PLTK
	CVI	IAS	SPHR	CDW	SPMMF	ACI	SPG-PJ	PLTK

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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

CDW	+ 0.85	SPHR
PLTK	+ 0.8	SPHR
PLTK	+ 0.72	CDW
SPHR	+ 0.57	IAS
CDW	+ 0.43	CVI
CDW	+ 0.42	IAS

High negative correlations

ACI	- 0.4	IAS
IAS	- 0.25	CVI
SPG-PJ	- 0.09	ACI
ACI	- 0.05	CDW
PLTK	- 0.04	ACI
SPG-PJ	- 0.04	SPHR

Risk-Adjusted Indicators

There is a big difference between NFT Stock performing well and NFT 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 NFT'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
CVI	2.20	0.21	0.09	0.39	2.67	(2.14)	5.07	(4.18)	12.26
IAS	1.46	(0.18)	0.00	(0.29)	0.00	0.00	1.95	(3.51)	14.44
SPHR	2.05	(0.08)	0.00	(0.17)	0.00	0.00	4.86	(5.47)	20.04
CDW	1.22	0.02	0.00	(0.07)	0.00	0.00	2.47	(3.09)	7.33
SPMMF	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
ACI	1.27	0.34	0.20	0.47	1.49	(1.29)	3.54	(2.69)	9.41
SPG-PJ	0.75	(0.01)	0.00	(0.22)	0.00	0.00	2.10	(1.87)	5.55
PLTK	1.88	(0.58)	0.00	(0.75)	0.00	0.00	3.49	(4.78)	21.07

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