Newegg Commerce Correlations

NEGG Stock

USD 0.60 0.01 1.64%

The current 90-days correlation between Newegg Commerce and Jumia Technologies AG is 0.41 (i.e., Very weak diversification). The correlation of Newegg Commerce 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.

Newegg Commerce Correlation With Market

Modest diversification

The correlation between Newegg Commerce and DJI is 0.26 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Newegg Commerce 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 Newegg Commerce. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in price.

For more detail on how to invest in Newegg Stock please use our How to Invest in Newegg Commerce guide.

Moving together with Newegg Stock

0.76	ASO	Academy Sports Outdoors Earnings Call Today	Pair Corr
0.72	BGI	Birks Group	Pair Corr
0.7	CAL	Continental	Pair Corr
0.71	DBI	Designer Brands Earnings Call This Week	Pair Corr
0.71	DIT	AMCON Distributing	Pair Corr
0.72	GPC	Genuine Parts	Pair Corr
0.79	HVT	Haverty Furniture	Pair Corr
0.82	LKQ	LKQ Corporation	Pair Corr
0.63	ZUMZ	Zumiez Inc	Pair Corr
0.67	ROST	Ross Stores	Pair Corr
0.83	SCVL	Shoe Carnival	Pair Corr
0.87	ARHS	Arhaus Inc	Pair Corr

Moving against Newegg Stock

0.77	VSCO	Victorias Secret	Pair Corr
0.66	GLBE	Global E Online	Pair Corr
0.64	HD	Home Depot Sell-off Trend	Pair Corr
0.59	LOW	Lowes Companies	Pair Corr
0.53	GME	GameStop Corp Earnings Call This Week	Pair Corr
0.53	JFBR	Jeffs Brands	Pair Corr
0.5	WEYS	Weyco Group	Pair Corr
0.42	TLF	Tandy Leather Factory	Pair Corr
0.41	ABG	Asbury Automotive	Pair Corr
0.31	GAP	Gap, Symbol Change	Pair Corr
0.88	DOGZ	Dogness International Upward Rally	Pair Corr
0.78	RL	Ralph Lauren Corp	Pair Corr
0.66	ZK	ZEEKR Intelligent	Pair Corr
0.62	AMZN	Amazon Inc Aggressive Push	Pair Corr
0.61	CATO	Cato Downward Rally	Pair Corr
0.58	SG	Sweetgreen	Pair Corr
0.57	UA	Under Armour C	Pair Corr
0.54	CTRN	Citi Trends	Pair Corr
0.53	CPNG	Coupang LLC	Pair Corr
0.5	BH	Biglari Holdings	Pair Corr
0.44	RERE	ATRenew Inc DRC Buyout Trend	Pair Corr
0.43	TTSH	Tile Shop Holdings	Pair Corr

Related Correlations Analysis

	JFBR	JMIA	PIK	QRTEB	NHTC	LQDT	W	PDD	VIPS	ETSY
JFBR		-0.59	0.01	-0.59	-0.39	0.71	-0.27	-0.15	-0.17	-0.09	JFBR
JMIA	-0.59		-0.09	0.73	-0.15	-0.68	0.74	0.58	0.62	-0.08	JMIA
PIK	0.01	-0.09		-0.16	0.05	-0.07	-0.21	-0.21	-0.33	-0.01	PIK
QRTEB	-0.59	0.73	-0.16		0.28	-0.61	0.56	0.14	0.21	0.29	QRTEB
NHTC	-0.39	-0.15	0.05	0.28		-0.26	-0.31	-0.74	-0.69	0.54	NHTC
LQDT	0.71	-0.68	-0.07	-0.61	-0.26		-0.32	-0.12	-0.12	0.1	LQDT
W	-0.27	0.74	-0.21	0.56	-0.31	-0.32		0.52	0.61	0.03	W
PDD	-0.15	0.58	-0.21	0.14	-0.74	-0.12	0.52		0.97	-0.47	PDD
VIPS	-0.17	0.62	-0.33	0.21	-0.69	-0.12	0.61	0.97		-0.38	VIPS
ETSY	-0.09	-0.08	-0.01	0.29	0.54	0.1	0.03	-0.47	-0.38		ETSY
	JFBR	JMIA	PIK	QRTEB	NHTC	LQDT	W	PDD	VIPS	ETSY

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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

VIPS	+ 0.97	PDD
W	+ 0.74	JMIA
QRTEB	+ 0.73	JMIA
LQDT	+ 0.71	JFBR
VIPS	+ 0.62	JMIA
VIPS	+ 0.61	W

High negative correlations

PDD	- 0.74	NHTC
VIPS	- 0.69	NHTC
LQDT	- 0.68	JMIA
LQDT	- 0.61	QRTEB
QRTEB	- 0.59	JFBR
JMIA	- 0.59	JFBR

Risk-Adjusted Indicators

There is a big difference between Newegg Stock performing well and Newegg Commerce 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 Newegg Commerce'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
JFBR	30.65	18.02	1.93	(0.80)	6.11	(44.54)	27.27	(10.53)	991.17
JMIA	3.35	(0.62)	0.00	(0.15)	0.00	0.00	7.14	(6.04)	28.82
PIK	3.90	(0.05)	(0.02)	0.03	5.45	(3.93)	9.38	(9.35)	25.87
QRTEB	3.32	(0.61)	0.00	(1.77)	0.00	0.00	6.47	(6.62)	23.12
NHTC	1.62	(0.30)	0.00	(0.79)	0.00	0.00	2.85	(3.33)	13.19
LQDT	1.24	0.03	0.05	0.14	1.37	(1.27)	2.19	(2.17)	9.34
W	2.78	0.01	(0.01)	0.14	3.67	(2.71)	5.74	(6.15)	16.38
PDD	2.59	0.06	(0.02)	(0.97)	3.56	(2.82)	4.85	(6.03)	24.21
VIPS	1.85	0.02	(0.01)	0.14	2.23	(2.36)	4.34	(4.47)	17.40
ETSY	1.68	(0.08)	(0.05)	0.01	2.27	(1.75)	3.43	(4.28)	13.37

Newegg Commerce Corporate Management

Fred Chang	CoFounder Chairman	Profile
Yong Hou	Chief Officer	Profile
Michael Chen	Chief Officer	Profile
YuehPai Chang	Chief Officer	Profile
Anthony Chow	Chief Officer	Profile
Christina Ching	Interim Officer	Profile
Jamie Spannos	Chief Officer	Profile

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