NVIDIA Correlations

NVDC34 Stock

BRL 15.20 0.50 3.18%

The current 90-days correlation between NVIDIA and Uber Technologies is 0.11 (i.e., Average diversification). The correlation of NVIDIA 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.

NVIDIA Correlation With Market

Average diversification

The correlation between NVIDIA 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 NVIDIA and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to NVIDIA could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace NVIDIA when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back NVIDIA - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling NVIDIA to buy it.

Moving together with NVIDIA Stock

0.61	TEXA34	Texas Instruments	Pair Corr
0.67	A1MD34	Advanced Micro Devices	Pair Corr

Moving against NVIDIA Stock

0.67	SHUL4	Schulz SA	Pair Corr
0.5	RPMG3	Refinaria de Petrleos	Pair Corr

Related Correlations Analysis

	B2YN34	K1SG34	U2NF34	U1BE34	M1LC34	Z1OM34	USSX34	MRFG3
B2YN34		-0.38	-0.74	0.14	0.27	0.12	0.47	0.09	B2YN34
K1SG34	-0.38		0.59	0.65	-0.56	-0.27	0.23	-0.72	K1SG34
U2NF34	-0.74	0.59		0.25	-0.35	-0.03	-0.24	-0.25	U2NF34
U1BE34	0.14	0.65	0.25		-0.58	-0.38	0.54	-0.67	U1BE34
M1LC34	0.27	-0.56	-0.35	-0.58		0.57	-0.35	0.64	M1LC34
Z1OM34	0.12	-0.27	-0.03	-0.38	0.57		-0.38	0.59	Z1OM34
USSX34	0.47	0.23	-0.24	0.54	-0.35	-0.38		-0.37	USSX34
MRFG3	0.09	-0.72	-0.25	-0.67	0.64	0.59	-0.37		MRFG3
	B2YN34	K1SG34	U2NF34	U1BE34	M1LC34	Z1OM34	USSX34	MRFG3

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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

U1BE34	+ 0.65	K1SG34
MRFG3	+ 0.64	M1LC34
U2NF34	+ 0.59	K1SG34
MRFG3	+ 0.59	Z1OM34
Z1OM34	+ 0.57	M1LC34
USSX34	+ 0.54	U1BE34

High negative correlations

U2NF34	- 0.74	B2YN34
MRFG3	- 0.72	K1SG34
MRFG3	- 0.67	U1BE34
M1LC34	- 0.58	U1BE34
M1LC34	- 0.56	K1SG34
USSX34	- 0.38	Z1OM34

Risk-Adjusted Indicators

There is a big difference between NVIDIA Stock performing well and NVIDIA 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 NVIDIA'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
B2YN34	3.58	(0.26)	0.00	(0.29)	0.00	0.00	8.62	(6.45)	19.83
K1SG34	0.76	0.37	0.00	(1.84)	0.00	0.00	0.00	0.00	25.40
U2NF34	2.56	0.58	0.23	3.07	2.10	(3.39)	5.76	(3.78)	30.26
U1BE34	2.28	0.17	0.05	(0.82)	2.92	(2.45)	4.52	(4.67)	13.75
M1LC34	1.10	(0.03)	0.00	0.61	0.00	0.00	4.78	(4.26)	15.75
Z1OM34	1.76	0.07	0.04	0.28	1.86	(2.08)	4.69	(3.13)	12.13
USSX34	1.50	0.03	0.01	(0.36)	2.65	(1.50)	3.97	(3.71)	12.26
MRFG3	2.10	(0.07)	0.00	(0.13)	0.00	0.00	4.06	(4.97)	13.29

Be your own money manager

Our tools can tell you how much better you can do entering a position in NVIDIA without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.

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NVIDIA Corporate Executives

Elected by the shareholders, the NVIDIA's board of directors comprises two types of representatives: NVIDIA inside directors who are chosen from within the company, and outside directors, selected externally and held independent of NVIDIA. The board's role is to monitor NVIDIA's management team and ensure that shareholders' interests are well served. NVIDIA's inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, NVIDIA's outside directors are responsible for providing unbiased perspectives on the board's policies.

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