Naas Technology Correlations

NAAS Stock

USD 1.02 0.04 4.08%

The correlation of Naas 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. If the correlation is 0, the equities are not correlated; they are entirely random.

Naas Technology Correlation With Market

Significant diversification

The correlation between Naas Technology ADR and DJI is 0.05 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Naas Technology ADR 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 Naas Technology ADR. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in nation.

Moving together with Naas Stock

0.8	AEO	American Eagle Outfitters	Pair Corr
0.93	MNRO	Monro Muffler Brake	Pair Corr
0.7	GM	General Motors Aggressive Push	Pair Corr
0.81	AXL	American Axle Manufa	Pair Corr
0.71	SMP	Standard Motor Products	Pair Corr
0.66	SRI	Stoneridge	Pair Corr
0.84	AYRO	AYRO Inc	Pair Corr
0.81	VFSWW	VinFast Auto	Pair Corr
0.9	VFS	VinFast Auto	Pair Corr
0.66	TLK	Telkom Indonesia Tbk	Pair Corr

Moving against Naas Stock

0.88	AGS	PlayAGS	Pair Corr
0.78	NIU	Niu Technologies Earnings Call This Week	Pair Corr
0.74	NDLS	Noodles Company	Pair Corr
0.72	AZO	AutoZone	Pair Corr
0.63	DAN	Dana Inc	Pair Corr
0.61	LNW	Light Wonder	Pair Corr
0.46	KEP	Korea Electric Power	Pair Corr
0.44	MPAA	Motorcar Parts	Pair Corr
0.4	HMC	Honda Motor	Pair Corr
0.39	MCD	McDonalds	Pair Corr
0.84	RSLBF	RaySearch Laboratories	Pair Corr
0.78	GE	GE Aerospace	Pair Corr
0.77	LH	Laboratory	Pair Corr
0.74	EC	Ecopetrol SA ADR	Pair Corr
0.71	CSCO	Cisco Systems	Pair Corr
0.7	CYBQF	CYBERDYNE	Pair Corr
0.64	IBM	International Business	Pair Corr
0.56	VZ	Verizon Communications Sell-off Trend	Pair Corr
0.53	CVX	Chevron Corp	Pair Corr
0.43	WF	Woori Financial Group	Pair Corr
0.37	INTC	Intel Aggressive Push	Pair Corr
0.34	JPM	JPMorgan Chase	Pair Corr

Related Correlations Analysis

	LESL	SBH	ODP	FLWS	CASY	SPWH	TCS	EYE	FRG	HZO
LESL		0.88	0.94	0.6	0.11	0.93	0.0	-0.63	0.0	0.78	LESL
SBH	0.88		0.95	0.36	0.07	0.81	0.0	-0.48	0.0	0.7	SBH
ODP	0.94	0.95		0.53	0.14	0.88	0.0	-0.54	0.0	0.77	ODP
FLWS	0.6	0.36	0.53		0.52	0.55	0.0	-0.17	0.0	0.77	FLWS
CASY	0.11	0.07	0.14	0.52		0.06	0.0	0.45	0.0	0.6	CASY
SPWH	0.93	0.81	0.88	0.55	0.06		0.0	-0.64	0.0	0.7	SPWH
TCS	0.0	0.0	0.0	0.0	0.0	0.0		0.0	0.0	0.0	TCS
EYE	-0.63	-0.48	-0.54	-0.17	0.45	-0.64	0.0		0.0	-0.19	EYE
FRG	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0		0.0	FRG
HZO	0.78	0.7	0.77	0.77	0.6	0.7	0.0	-0.19	0.0		HZO
	LESL	SBH	ODP	FLWS	CASY	SPWH	TCS	EYE	FRG	HZO

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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

ODP	+ 0.95	SBH
ODP	+ 0.94	LESL
SPWH	+ 0.93	LESL
SBH	+ 0.88	LESL
SPWH	+ 0.88	ODP
SPWH	+ 0.81	SBH

High negative correlations

EYE	- 0.64	SPWH
EYE	- 0.63	LESL
EYE	- 0.54	ODP
EYE	- 0.48	SBH
HZO	- 0.19	EYE
EYE	- 0.17	FLWS

Risk-Adjusted Indicators

There is a big difference between Naas Stock performing well and Naas 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 Naas 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
LESL	3.79	(1.19)	0.00	(0.62)	0.00	0.00	6.37	(7.27)	39.07
SBH	2.00	(0.45)	0.00	(0.65)	0.00	0.00	4.00	(4.18)	10.83
ODP	2.92	(0.71)	0.00	(2.10)	0.00	0.00	6.19	(6.61)	30.02
FLWS	2.70	(0.25)	0.00	(0.28)	0.00	0.00	5.39	(6.68)	15.19
CASY	1.33	0.02	0.00	(0.09)	0.00	0.00	2.63	(3.55)	10.41
SPWH	3.60	(0.74)	0.00	(0.74)	0.00	0.00	6.52	(6.69)	25.41
TCS	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
EYE	2.23	0.20	0.07	0.09	2.55	(2.47)	4.71	(4.45)	16.13
FRG	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
HZO	2.21	(0.27)	0.00	(0.28)	0.00	0.00	4.89	(4.95)	21.26

Naas Technology Corporate Management

Alex Wu	Interim Officer	Profile
Ye Wu	Chief Officer	Profile
Steven Sim	Chief Officer	Profile
Jingzhi Wang	Head Relations	Profile
Wang Yang	CEO Director	Profile

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