Natures Miracle Correlations

Stocks . USA . 
Stock . Natures Miracle Holding
NMHI Stock   1.94  0.10  4.90%   
The current 90-days correlation between Natures Miracle Holding and Senmiao Technology is -0.16 (i.e., Good diversification). The correlation of Natures Miracle 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.

Natures Miracle Correlation With Market

Significant diversification

The correlation between Natures Miracle Holding and DJI is 0.01 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Natures Miracle Holding 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 Natures Miracle Holding. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in rate.

Moving together with Natures Stock

  0.75BW Babcock Wilcox EnterPairCorr
  0.78AOS Smith AOPairCorr
  0.79TNC Tennant CompanyPairCorr

Moving against Natures Stock

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  0.76HI HillenbrandPairCorr
  0.74AME Ametek Inc Sell-off TrendPairCorr
  0.71CMI CumminsPairCorr
  0.61CXT Crane NXTPairCorr
  0.51PH Parker HannifinPairCorr
  0.4RR Richtech Robotics Class TrendingPairCorr
  0.39DOV DoverPairCorr
  0.36CR Crane CompanyPairCorr
  0.36ETN Eaton PLCPairCorr
  0.34EPAC Enerpac Tool GroupPairCorr
  0.84XMTR XometryPairCorr
  0.81GHM GrahamPairCorr
  0.79MIR Mirion TechnologiesPairCorr
  0.74ROK Rockwell AutomationPairCorr
  0.73FLS FlowservePairCorr
  0.71NNE Nano Nuclear Energy Upward RallyPairCorr
  0.68NPO Enpro IndustriesPairCorr
  0.68SXI Standex InternationalPairCorr
  0.67PNR Pentair PLCPairCorr
  0.63KAI Kadant IncPairCorr
  0.62SMR Nuscale Power Corp Upward RallyPairCorr
  0.53MWA Mueller Water ProductsPairCorr
  0.48IEX IDEXPairCorr
  0.44GRC Gorman RuppPairCorr
  0.41ITW Illinois Tool WorksPairCorr
  0.34GGG Graco IncPairCorr
  0.88JBTM JBTMarel Corp Symbol ChangePairCorr
  0.86GTLS Chart IndustriesPairCorr

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   
POCI
+ 0.8
ALNT
ADI
+ 0.76
PSFE
ALNT
+ 0.48
NVST
POCI
+ 0.31
NVST
POCI
+ 0.2
AIHS
AIHS
+ 0.12
ADI
  
High negative correlations   
ALNT
- 0.74
ADI
POCI
- 0.72
ADI
ALNT
- 0.64
PSFE
POCI
- 0.62
PSFE
ADI
- 0.3
NVST
AIHS
- 0.27
NVST

Risk-Adjusted Indicators

There is a big difference between Natures Stock performing well and Natures Miracle 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 Natures Miracle'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.

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