Mind Technology Correlations

MIND Stock

USD 7.05 0.08 1.12%

The current 90-days correlation between Mind Technology and Sono Tek Corp is -0.18 (i.e., Good diversification). The correlation of Mind Technology 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.

Mind Technology Correlation With Market

Significant diversification

The correlation between Mind Technology and DJI is 0.01 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Mind Technology 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 Mind Technology. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in board of governors.

For information on how to trade Mind Stock refer to our How to Trade Mind Stock guide.

Moving together with Mind Stock

0.74	FTV	Fortive Corp	Pair Corr
0.65	LGL	LGL Group Tech Boost	Pair Corr
0.74	GNSS	Genasys	Pair Corr
0.73	KEYS	Keysight Technologies	Pair Corr
0.68	MVIS	Microvision Buyout Trend	Pair Corr
0.82	BKSY	Blacksky Technology	Pair Corr

Moving against Mind Stock

0.64	ITRI	Itron Inc	Pair Corr
0.42	KNW	Know Labs	Pair Corr
0.38	SVRE	SaverOne 2014	Pair Corr
0.36	SOTK	Sono Tek Corp	Pair Corr
0.42	FMTO	Femto Technologies Symbol Change	Pair Corr
0.37	FOXX	Foxx Development Holdings	Pair Corr

Related Correlations Analysis

	SEPJF	ELSE	SOTK	VPG	NSCIF	SRMX	GNSS	ST	SVREW	MINDP
SEPJF		-0.31	-0.41	0.23	0.03	0.34	0.58	-0.07	0.52	0.0	SEPJF
ELSE	-0.31		0.43	0.03	0.41	0.11	0.27	-0.11	-0.52	0.0	ELSE
SOTK	-0.41	0.43		0.22	-0.22	0.02	0.05	0.18	-0.38	0.0	SOTK
VPG	0.23	0.03	0.22		-0.18	0.28	0.68	0.52	0.36	0.0	VPG
NSCIF	0.03	0.41	-0.22	-0.18		0.13	0.14	-0.18	-0.17	0.0	NSCIF
SRMX	0.34	0.11	0.02	0.28	0.13		0.39	0.18	0.03	0.0	SRMX
GNSS	0.58	0.27	0.05	0.68	0.14	0.39		0.18	0.36	0.0	GNSS
ST	-0.07	-0.11	0.18	0.52	-0.18	0.18	0.18		-0.05	0.0	ST
SVREW	0.52	-0.52	-0.38	0.36	-0.17	0.03	0.36	-0.05		0.0	SVREW
MINDP	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0		MINDP
	SEPJF	ELSE	SOTK	VPG	NSCIF	SRMX	GNSS	ST	SVREW	MINDP

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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

GNSS	+ 0.68	VPG
GNSS	+ 0.58	SEPJF
SVREW	+ 0.52	SEPJF
ST	+ 0.52	VPG
SOTK	+ 0.43	ELSE
NSCIF	+ 0.41	ELSE

High negative correlations

SVREW	- 0.52	ELSE
SOTK	- 0.41	SEPJF
SVREW	- 0.38	SOTK
ELSE	- 0.31	SEPJF
NSCIF	- 0.22	SOTK
ST	- 0.18	NSCIF

Risk-Adjusted Indicators

There is a big difference between Mind Stock performing well and Mind Technology 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 Mind Technology'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
SEPJF	2.34	(0.01)	0.02	0.08	3.15	(2.97)	5.59	(6.18)	20.06
ELSE	1.93	(0.01)	0.04	(0.05)	2.21	(2.22)	3.98	(4.03)	12.55
SOTK	2.19	(0.36)	0.00	(0.54)	0.00	0.00	4.64	(4.73)	15.16
VPG	1.65	(0.04)	0.00	(0.11)	0.00	0.00	3.57	(3.34)	14.71
NSCIF	2.17	0.01	0.02	(0.08)	2.84	(8.05)	9.52	(8.00)	24.49
SRMX	11.70	2.61	0.00	(1.25)	0.00	0.00	50.00	(33.33)	150.00
GNSS	3.27	0.18	0.02	0.02	4.34	(3.64)	7.29	(8.07)	32.38
ST	1.51	(0.05)	0.00	(0.12)	0.00	0.00	2.73	(3.03)	14.38
SVREW	24.14	5.25	0.19	(4.72)	21.77	(32.24)	83.44	(44.15)	157.68
MINDP	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00

Mind Technology Corporate Executives

Elected by the shareholders, the Mind Technology's board of directors comprises two types of representatives: Mind Technology inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Mind. The board's role is to monitor Mind Technology's management team and ensure that shareholders' interests are well served. Mind Technology's inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, Mind Technology's outside directors are responsible for providing unbiased perspectives on the board's policies.

Mark CPA

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