Nano Labs Correlations

NA Etf

USD 4.73 0.45 8.69%

The current 90-days correlation between Nano Labs and GSI Technology is 0.01 (i.e., Significant diversification). The correlation of Nano Labs 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.

Nano Labs Correlation With Market

Significant diversification

The correlation between Nano Labs 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 Nano Labs 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 Nano Labs. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in nation.

For information on how to trade Nano Etf refer to our How to Trade Nano Etf guide.

Moving together with Nano Etf

0.84	DIOD	Diodes Incorporated	Pair Corr
0.88	ON	ON Semiconductor	Pair Corr
0.86	PI	Impinj Inc	Pair Corr
0.86	VECO	Veeco Instruments	Pair Corr
0.76	ENPH	Enphase Energy Buyout Trend	Pair Corr
0.73	WOLF	Wolfspeed Aggressive Push	Pair Corr
0.89	AMD	Advanced Micro Devices Aggressive Push	Pair Corr
0.89	CAN	Canaan Inc	Pair Corr
0.84	FORM	FormFactor	Pair Corr
0.74	CVV	CVD Equipment	Pair Corr
0.84	FSLR	First Solar	Pair Corr
0.71	GFS	Globalfoundries	Pair Corr
0.62	JKS	JinkoSolar Holding Earnings Call Today	Pair Corr
0.73	MXL	MaxLinear	Pair Corr
0.86	XPER	Xperi Corp	Pair Corr
0.72	TER	Teradyne	Pair Corr
0.8	GCTS	GCT Semiconductor Holding Symbol Change	Pair Corr
0.76	INDI	indie Semiconductor	Pair Corr

Moving against Nano Etf

0.36	MX	MagnaChip Semiconductor	Pair Corr
0.69	LEDS	SemiLEDS	Pair Corr
0.49	KLAC	KLA Tencor	Pair Corr
0.48	HIMX	Himax Technologies	Pair Corr
0.33	INTC	Intel Aggressive Push	Pair Corr
0.32	LRCX	Lam Research Corp Sell-off Trend	Pair Corr
0.32	ADNWW	Advent Technologies	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		-0.23	0.69	-0.47	0.5	0.31	0.07	0.89	-0.78	0.2	META
MSFT	-0.23		-0.65	0.44	-0.75	0.62	0.88	-0.08	0.54	-0.16	MSFT
UBER	0.69	-0.65		-0.51	0.8	-0.22	-0.56	0.62	-0.86	0.42	UBER
F	-0.47	0.44	-0.51		-0.27	0.21	0.3	-0.37	0.66	0.25	F
T	0.5	-0.75	0.8	-0.27		-0.51	-0.65	0.32	-0.7	0.39	T
A	0.31	0.62	-0.22	0.21	-0.51		0.72	0.54	0.15	0.04	A
CRM	0.07	0.88	-0.56	0.3	-0.65	0.72		0.16	0.36	-0.19	CRM
JPM	0.89	-0.08	0.62	-0.37	0.32	0.54	0.16		-0.67	0.23	JPM
MRK	-0.78	0.54	-0.86	0.66	-0.7	0.15	0.36	-0.67		-0.24	MRK
XOM	0.2	-0.16	0.42	0.25	0.39	0.04	-0.19	0.23	-0.24		XOM
	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM

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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

JPM	+ 0.89	META
CRM	+ 0.88	MSFT
T	+ 0.8	UBER
CRM	+ 0.72	A
UBER	+ 0.69	META
MRK	+ 0.66	F

High negative correlations

MRK	- 0.86	UBER
MRK	- 0.78	META
T	- 0.75	MSFT
MRK	- 0.7	T
MRK	- 0.67	JPM
CRM	- 0.65	T

Nano Labs Competition Risk-Adjusted Indicators

There is a big difference between Nano Etf performing well and Nano Labs ETF 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 Nano Labs' 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
META	1.59	0.08	0.00	(0.03)	0.00	0.00	2.57	(3.59)	8.90
MSFT	1.10	(0.12)	0.00	(0.30)	0.00	0.00	2.58	(2.14)	10.31
UBER	1.92	0.20	0.10	0.28	2.38	(2.01)	4.72	(3.30)	12.75
F	1.42	0.05	0.00	(0.06)	0.00	0.00	2.71	(2.89)	10.14
T	1.07	0.24	0.16	0.33	1.64	(1.12)	1.90	(2.12)	11.66
A	1.16	(0.12)	0.00	(0.23)	0.00	0.00	2.92	(2.59)	9.03
CRM	1.45	(0.26)	0.00	(0.35)	0.00	0.00	2.72	(3.81)	8.88
JPM	1.10	0.04	0.00	(0.08)	0.00	0.00	1.99	(3.35)	6.85
MRK	1.21	(0.12)	0.00	1.56	0.00	0.00	2.08	(2.24)	11.57
XOM	1.04	0.04	0.07	(0.02)	1.37	(1.07)	2.55	(2.36)	5.89

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