Newtek Business Correlations

Summary

The current 90-days correlation between Newtek Business Services and Newtek Business Services is 0.1 (i.e., Average diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Newtek Business moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Newtek Business Services moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Newtek Business Correlation With Market

Good diversification

The correlation between Newtek Business Services and DJI is -0.04 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Newtek Business Services and DJI in the same portfolio, assuming nothing else is changed.

Check out Correlation Analysis to better understand how to build diversified portfolios. 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 together with Newtek Stock

0.61	LTSL	Ladenburg Thalmann	Pair Corr
0.82	RCC	Small Cap Premium	Pair Corr
0.81	RCB	Ready Capital	Pair Corr
0.72	SSNLF	Samsung Electronics	Pair Corr
0.82	PTAIF	PT Astra International	Pair Corr
0.92	AXON	Axon Enterprise	Pair Corr
0.81	NVDA	NVIDIA	Pair Corr
0.95	IONQ	IONQ Inc	Pair Corr
0.88	DORM	Dorman Products	Pair Corr
0.67	KOPN	Kopin	Pair Corr
0.79	RUM	Rumble Inc Tech Boost	Pair Corr
0.93	OPRA	Opera Buyout Trend	Pair Corr
0.87	ET	Energy Transfer LP	Pair Corr
0.74	SOUN	SoundHound AI Aggressive Push	Pair Corr
0.83	GLBE	Global E Online	Pair Corr
0.87	ORCL	Oracle	Pair Corr
0.89	DIS	Walt Disney	Pair Corr
0.72	INMD	InMode	Pair Corr
0.75	SNAP	Snap Inc Downward Rally	Pair Corr
0.86	BFLY	Butterfly Network	Pair Corr
0.93	SECYF	Secure Energy Services	Pair Corr
0.71	APLD	Applied Blockchain Buyout Trend	Pair Corr

Moving against Newtek Stock

0.94	SFB	Stifel Financial	Pair Corr
0.9	TLK	Telkom Indonesia Tbk	Pair Corr
0.78	MGRB	Affiliated Managers	Pair Corr
0.76	EC	Ecopetrol SA ADR	Pair Corr
0.71	MGR	Affiliated Managers	Pair Corr
0.56	PTAIY	Astra International Tbk	Pair Corr
0.49	CGABL	Carlyle Group	Pair Corr
0.37	PTITF	PT Indosat Tbk	Pair Corr
0.87	PIFMF	PT Indofood Sukses	Pair Corr
0.36	WETH	Wetouch Technology Common	Pair Corr

Related Correlations Analysis

	TANNL	TANNZ	NEWTZ	RILYO	TANNI
TANNL		0.87	0.8	0.59	0.71	TANNL
TANNZ	0.87		0.86	0.55	0.88	TANNZ
NEWTZ	0.8	0.86		0.68	0.74	NEWTZ
RILYO	0.59	0.55	0.68		0.48	RILYO
TANNI	0.71	0.88	0.74	0.48		TANNI
	TANNL	TANNZ	NEWTZ	RILYO	TANNI

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Risk-Adjusted Indicators

There is a big difference between Newtek Stock performing well and Newtek Business 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 Newtek Business' 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
TANNL	0.21	0.01	(0.33)	(0.24)	0.20	(0.27)	0.56	(0.40)	1.57
TANNZ	0.11	0.01	(0.47)	(0.67)	0.00	(0.14)	0.32	(0.24)	0.88
NEWTZ	0.17	0.02	(0.25)	2.31	0.12	(0.21)	0.61	(0.44)	1.46
RILYO	0.41	0.02	(0.15)	1.38	0.42	(0.53)	1.20	(0.86)	2.95
TANNI	0.19	0.00	(0.30)	0.10	0.23	(0.23)	0.48	(0.47)	1.16

Newtek Business Related Equities

One of the popular trading techniques among algorithmic traders is to use market-neutral strategies where every trade hedges away some risk. Because there are two separate transactions required, even if one position performs unexpectedly, the other equity can make up some of the losses. Below are some of the equities that can be combined with Newtek Business stock to make a market-neutral strategy. Peer analysis of Newtek Business could also be used in its relative valuation, which is a method of valuing Newtek Business by comparing valuation metrics with similar companies.

TravelCenters Of America TravelCenters Of America Newtek Business Services B Riley Financial TravelCenters Of America American Airlines Group Alcoa Corp Apple Inc Best Buy Co Citigroup SentinelOne CVS Health Corp Chevron Corp Home Depot International Business Machines

Risk & Return

Correlation

Still Interested in Newtek Business Services?

Investing in delisted delisted stocks can be risky, as the stock is no longer traded on a public exchange and can therefore be difficult to sell. Delisting typically occurs when a company has failed to meet exchange requirements or has been acquired. Before investing, it's important to thoroughly research the company, including its financial health and prospects for the future, as well as the reasons for its delisting. Additionally, it may be difficult to find accurate and up-to-date information on the company and its stock.

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