Nixxy, Correlations

NIXXW Stock   0.07  0.01  8.33%   
The current 90-days correlation between Nixxy, Inc and Paranovus Entertainment Technology is -0.17 (i.e., Good diversification). The correlation of Nixxy, 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.

Nixxy, Correlation With Market

Nixxy,DowDiversified AwayNixxy,DowDiversified Away100%

Good diversification

The correlation between Nixxy, Inc and DJI is -0.07 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Nixxy, Inc 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 Nixxy, Inc. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in interest.

Moving together with Nixxy, Stock

  0.76B Barnes GroupPairCorr
  0.65BA BoeingPairCorr

Moving against Nixxy, Stock

  0.83RHI Robert Half InternationalPairCorr
  0.82KFRC Kforce IncPairCorr
  0.73ATLN Atlantic InternationalPairCorr
  0.69HSON Hudson GlobalPairCorr
  0.63MAN ManpowerGroupPairCorr
  0.61IPDN Professional DiversityPairCorr
  0.53KFY Korn FerryPairCorr
  0.5KELYB Kelly Services BPairCorr
  0.48HQI HirequestPairCorr
  0.4KELYA Kelly Services APairCorr
  0.38ZIP ZiprecruiterPairCorr
  0.35GLXG Galaxy Payroll GroupPairCorr
  0.63BV BrightView HoldingsPairCorr
  0.62BW Babcock Wilcox EnterPairCorr
  0.61J Jacobs SolutionsPairCorr
  0.6TNET TriNet GroupPairCorr
  0.59CW Curtiss WrightPairCorr
  0.57BGSF BG StaffingPairCorr
  0.54CLIK Click HoldingsPairCorr
  0.45AL Air Lease Buyout TrendPairCorr

Related Correlations Analysis

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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   
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KPAVS
RDCMPAVS
MRRTYSTKL
MRRTYSNDL
STKLSNDL
  
High negative correlations   
MRRTYPAVS
SNDLPAVS
STKLK
MRRTYK
RDCMSTKL
STKLPAVS

Risk-Adjusted Indicators

There is a big difference between Nixxy, Stock performing well and Nixxy, 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 Nixxy,'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.