Netcapital Correlations

NCPL Stock

USD 2.07 0.08 3.72%

The current 90-days correlation between Netcapital and Zhong Yang Financial is 0.34 (i.e., Weak diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Netcapital moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Netcapital moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Netcapital Correlation With Market

Weak diversification

The correlation between Netcapital and DJI is 0.31 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Netcapital 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 Netcapital. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in american community survey.

For more information on how to buy Netcapital Stock please use our How to buy in Netcapital Stock guide.

Moving together with Netcapital Stock

0.61	V	Visa Class A	Pair Corr
0.61	MA	Mastercard	Pair Corr
0.61	FDUS	Fidus Investment Corp	Pair Corr
0.66	NMFC	New Mountain Finance	Pair Corr
0.62	TSLX	Sixth Street Specialty	Pair Corr

Moving against Netcapital Stock

0.56	AMG	Affiliated Managers	Pair Corr
0.53	PYPL	PayPal Holdings	Pair Corr
0.52	KB	KB Financial Group	Pair Corr
0.51	EG	Everest Group	Pair Corr
0.51	LC	LendingClub Corp	Pair Corr
0.43	BX	Blackstone Group	Pair Corr
0.31	CM	Canadian Imperial Bank Earnings Call Today	Pair Corr

Related Correlations Analysis

	APLD	TOP	MEGL	LAZ	SAI	GHL	TCJH	MARA	RIOT	AGBA
APLD		0.42	-0.06	0.35	0.0	0.0	0.0	0.53	0.39	0.0	APLD
TOP	0.42		0.22	0.5	0.0	0.0	0.0	0.67	0.28	0.0	TOP
MEGL	-0.06	0.22		-0.4	0.0	0.0	0.0	-0.06	0.29	0.0	MEGL
LAZ	0.35	0.5	-0.4		0.0	0.0	0.0	0.62	0.18	0.0	LAZ
SAI	0.0	0.0	0.0	0.0		0.0	0.0	0.0	0.0	0.0	SAI
GHL	0.0	0.0	0.0	0.0	0.0		0.0	0.0	0.0	0.0	GHL
TCJH	0.0	0.0	0.0	0.0	0.0	0.0		0.0	0.0	0.0	TCJH
MARA	0.53	0.67	-0.06	0.62	0.0	0.0	0.0		0.49	0.0	MARA
RIOT	0.39	0.28	0.29	0.18	0.0	0.0	0.0	0.49		0.0	RIOT
AGBA	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0		AGBA
	APLD	TOP	MEGL	LAZ	SAI	GHL	TCJH	MARA	RIOT	AGBA

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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

MARA	+ 0.67	TOP
MARA	+ 0.62	LAZ
MARA	+ 0.53	APLD
LAZ	+ 0.5	TOP
RIOT	+ 0.49	MARA
TOP	+ 0.42	APLD

High negative correlations

LAZ	- 0.4	MEGL
MARA	- 0.06	MEGL
MEGL	- 0.06	APLD
AGBA	- 0.0	RIOT
AGBA	- 0.0	MARA
AGBA	- 0.0	TCJH

Risk-Adjusted Indicators

There is a big difference between Netcapital Stock performing well and Netcapital 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 Netcapital'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
APLD	5.86	0.32	0.04	0.69	7.67	(6.38)	12.47	(10.78)	45.87
TOP	2.41	(0.22)	0.00	(0.71)	0.00	0.00	5.41	(5.16)	15.28
MEGL	4.51	0.04	0.01	(0.14)	5.61	(6.25)	8.70	(9.30)	78.68
LAZ	1.76	(0.15)	0.00	(0.11)	0.00	0.00	3.95	(3.63)	10.82
SAI	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
GHL	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
TCJH	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
MARA	4.21	(0.44)	0.00	(0.24)	0.00	0.00	8.80	(8.50)	26.10
RIOT	4.35	(0.24)	0.00	(0.35)	0.00	0.00	9.59	(9.83)	33.41
AGBA	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00

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