Nixxy, Correlations

NIXXW Stock   0.07  0.01  8.33%   
The current 90-days correlation between Nixxy, Inc and Molecular Partners AG is -0.22 (i.e., Very 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%

Average diversification

The correlation between Nixxy, Inc and DJI is 0.14 (i.e., Average 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

  0.7HQI HirequestPairCorr
  0.62KFY Korn FerryPairCorr
  0.85ZIP ZiprecruiterPairCorr
  0.65IPDN Professional DiversityPairCorr

Moving against Nixxy, Stock

  0.38STAF Staffing 360 SolutionsPairCorr
  0.36NIXX Nixxy, Inc Symbol ChangePairCorr
  0.67BA BoeingPairCorr
  0.61AP Ampco PittsburghPairCorr
  0.55B Barnes GroupPairCorr
  0.4AZ A2Z Smart TechnologiesPairCorr

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   
SWKSFORM
MGPIKDP
SWKSMOLN
NTGRBNTX
MGPIMOLN
BNTXSWKS
  
High negative correlations   
NTGRMGPI
UBERFORM
UBERSWKS
NTGRKDP
BNTXMGPI
NTGRMOLN

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.

Trending Assets

MGPI
MGP Ingredients
33.15  0.78  2.41 
FORM
FormFactor
37.80  1.06  2.89 
BNTX
BioNTech SE
119.83  -2.95  -2.4 
MOLN
Molecular Partners
4.80  -0.12  -2.44