MKDWELL Tech Correlations

MKDW Stock

0.35 0.02 5.41%

The current 90-days correlation between MKDWELL Tech Ordinary and NetSol Technologies is -0.22 (i.e., Very good diversification). The correlation of MKDWELL Tech 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. If the correlation is 0, the equities are not correlated; they are entirely random.

MKDWELL Tech Correlation With Market

Significant diversification

The correlation between MKDWELL Tech Ordinary and DJI is 0.03 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding MKDWELL Tech Ordinary 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 MKDWELL Tech Ordinary. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in unemployment.

Moving together with MKDWELL Stock

0.82	MI	NFT Limited	Pair Corr
0.66	ENLV	Enlivex Therapeutics	Pair Corr
0.64	WKEY	Wisekey International	Pair Corr
0.69	ANY	Sphere 3D Corp	Pair Corr
0.65	XTIA	XTI Aerospace,	Pair Corr
0.78	GPUS	Hyperscale Data, Symbol Change	Pair Corr
0.65	SLNH	Soluna Holdings	Pair Corr
0.67	DIOD	Diodes Incorporated	Pair Corr
0.63	AI	C3 Ai Inc	Pair Corr
0.78	NA	Nano Labs	Pair Corr
0.86	NN	Nextnav Acquisition Corp Tech Boost	Pair Corr
0.85	ON	ON Semiconductor	Pair Corr

Moving against MKDWELL Stock

0.9	VCSA	Vacasa Inc	Pair Corr
0.71	FUBO	Fubotv Inc Aggressive Push	Pair Corr
0.77	BB	BlackBerry Earnings Call Next Week	Pair Corr
0.68	JG	Aurora Mobile	Pair Corr
0.67	FI	Fiserv,	Pair Corr
0.52	KD	Kyndryl Holdings	Pair Corr
0.46	MX	MagnaChip Semiconductor	Pair Corr
0.39	DQ	Daqo New Energy	Pair Corr
0.38	GB	Global Blue Group	Pair Corr
0.67	DOMO	Domo Inc	Pair Corr
0.62	ZS	Zscaler	Pair Corr

Related Correlations Analysis

	IONR	NOW	SPNS	WETO	QLYS	VCSA	NTWK
IONR		0.43	-0.43	0.43	0.42	0.21	0.37	IONR
NOW	0.43		-0.31	0.48	0.85	-0.51	0.86	NOW
SPNS	-0.43	-0.31		-0.22	-0.05	-0.24	-0.3	SPNS
WETO	0.43	0.48	-0.22		0.52	-0.12	0.41	WETO
QLYS	0.42	0.85	-0.05	0.52		-0.35	0.72	QLYS
VCSA	0.21	-0.51	-0.24	-0.12	-0.35		-0.4	VCSA
NTWK	0.37	0.86	-0.3	0.41	0.72	-0.4		NTWK
	IONR	NOW	SPNS	WETO	QLYS	VCSA	NTWK

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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

NTWK	+ 0.86	NOW
QLYS	+ 0.85	NOW
NTWK	+ 0.72	QLYS
QLYS	+ 0.52	WETO
WETO	+ 0.48	NOW
NOW	+ 0.43	IONR

High negative correlations

VCSA	- 0.51	NOW
SPNS	- 0.43	IONR
NTWK	- 0.4	VCSA
VCSA	- 0.35	QLYS
SPNS	- 0.31	NOW
NTWK	- 0.3	SPNS

Risk-Adjusted Indicators

There is a big difference between MKDWELL Stock performing well and MKDWELL Tech 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 MKDWELL Tech'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
IONR	3.45	0.17	0.03	0.02	3.83	(4.12)	6.70	(6.22)	32.97
NOW	1.80	(0.35)	0.00	(0.34)	0.00	0.00	2.61	(4.82)	14.05
SPNS	1.23	(0.03)	0.00	(0.11)	0.00	0.00	2.61	(2.83)	7.93
WETO	2.67	(0.06)	0.00	(0.25)	0.00	0.00	5.56	(10.00)	10.00
QLYS	1.41	(0.15)	0.00	(0.24)	0.00	0.00	2.64	(3.60)	7.24
VCSA	2.08	0.49	0.19	1.26	2.05	(2.86)	4.72	(5.25)	31.66
NTWK	1.48	(0.17)	0.00	(1.28)	0.00	0.00	3.31	(3.59)	13.19

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