NewtekOne, 850 Correlations

NEWTG Stock

24.85 0.04 0.16%

The current 90-days correlation between NewtekOne, 850 percent and Fevertree Drinks Plc is 0.21 (i.e., Modest diversification). The correlation of NewtekOne, 850 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.

NewtekOne, 850 Correlation With Market

Weak diversification

The correlation between NewtekOne, 850 percent and DJI is 0.32 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding NewtekOne, 850 percent 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 NewtekOne, 850 percent. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in estimate.

Moving against NewtekOne, Stock

0.32	BX	Blackstone Group Normal Trading	Pair Corr
0.45	WD	Walker Dunlop	Pair Corr

Related Correlations Analysis

	FQVTF	CCU	FARO	WETO	KLTR	AIHS	TBVPY	UBER
FQVTF		0.58	0.1	-0.33	-0.08	-0.23	0.52	0.35	FQVTF
CCU	0.58		0.33	-0.74	-0.52	-0.49	0.85	0.64	CCU
FARO	0.1	0.33		-0.22	0.04	-0.51	0.23	0.43	FARO
WETO	-0.33	-0.74	-0.22		0.58	0.33	-0.57	-0.33	WETO
KLTR	-0.08	-0.52	0.04	0.58		0.38	-0.24	0.09	KLTR
AIHS	-0.23	-0.49	-0.51	0.33	0.38		-0.37	-0.33	AIHS
TBVPY	0.52	0.85	0.23	-0.57	-0.24	-0.37		0.86	TBVPY
UBER	0.35	0.64	0.43	-0.33	0.09	-0.33	0.86		UBER
	FQVTF	CCU	FARO	WETO	KLTR	AIHS	TBVPY	UBER

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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

UBER	+ 0.86	TBVPY
TBVPY	+ 0.85	CCU
UBER	+ 0.64	CCU
CCU	+ 0.58	FQVTF
KLTR	+ 0.58	WETO
TBVPY	+ 0.52	FQVTF

High negative correlations

WETO	- 0.74	CCU
TBVPY	- 0.57	WETO
KLTR	- 0.52	CCU
AIHS	- 0.51	FARO
AIHS	- 0.49	CCU
TBVPY	- 0.37	AIHS

Risk-Adjusted Indicators

There is a big difference between NewtekOne, Stock performing well and NewtekOne, 850 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 NewtekOne, 850'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
FQVTF	2.11	0.10	0.06	4.37	2.07	(3.97)	6.30	(4.28)	28.04
CCU	1.03	0.42	0.31	1.22	1.05	(1.17)	2.11	(1.67)	8.78
FARO	2.74	0.22	0.07	0.11	2.69	(3.26)	4.78	(4.13)	22.69
WETO	2.58	0.17	0.04	0.21	4.38	(2.58)	5.56	(10.00)	10.00
KLTR	3.62	(0.17)	0.00	(0.27)	0.00	0.00	10.04	(8.93)	34.11
AIHS	2.55	0.11	0.03	0.08	3.31	(3.18)	5.68	(6.54)	23.64
TBVPY	0.13	0.05	0.00	(0.70)	0.00	0.00	0.00	0.00	4.21
UBER	1.89	0.35	0.16	0.60	2.15	(2.04)	4.72	(3.13)	12.75

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