Nuvei Corp Correlations

Summary

NVEIDelisted Stock

USD 33.99 0.00 0.00%

The current 90-days correlation between Nuvei Corp and Robinhood Markets is -0.08 (i.e., Good diversification). The correlation of Nuvei Corp 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.

Nuvei Corp Correlation With Market

Good diversification

The correlation between Nuvei Corp and DJI is -0.17 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Nuvei Corp 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 income.

Moving together with Nuvei Stock

0.65	GB	Global Blue Group	Pair Corr
0.84	NN	Nextnav Acquisition Corp	Pair Corr
0.8	SQ	Block Inc	Pair Corr
0.72	ZS	Zscaler	Pair Corr
0.73	EEFT	Euronet Worldwide	Pair Corr
0.77	EVCM	EverCommerce	Pair Corr
0.61	EVTC	Evertec	Pair Corr
0.7	CETXP	Cemtrex Pref Earnings Call Tomorrow	Pair Corr
0.85	FFIV	F5 Networks	Pair Corr
0.84	FIVN	Five9 Inc	Pair Corr
0.71	FLYW	Flywire Corp	Pair Corr
0.73	FOUR	Shift4 Payments	Pair Corr
0.88	DBX	Dropbox	Pair Corr
0.8	DLO	Dlocal	Pair Corr
0.73	GEN	Gen Digital	Pair Corr
0.81	FTNT	Fortinet	Pair Corr
0.83	NET	Cloudflare	Pair Corr
0.81	ODD	ODDITY Tech	Pair Corr
0.79	PAY	Paymentus Holdings Tech Boost	Pair Corr

Moving against Nuvei Stock

0.75	VERI	Veritone	Pair Corr
0.73	VRNS	Varonis Systems	Pair Corr
0.69	FAAS	DigiAsia Corp Symbol Change	Pair Corr
0.63	MQ	Marqeta	Pair Corr
0.59	DOCN	DigitalOcean Holdings	Pair Corr
0.49	VHAI	VHAI	Pair Corr
0.89	VHC	VirnetX Holding Corp	Pair Corr
0.75	TCX	Tucows Inc	Pair Corr
0.63	WEX	Wex Inc	Pair Corr
0.53	SOS	SOS Limited	Pair Corr
0.41	APCXW	AppTech Payments Corp	Pair Corr
0.37	PGY	Pagaya Technologies	Pair Corr
0.31	HCP	Hashicorp	Pair Corr

Related Correlations Analysis

	HOOD	PLTR	GCT	CRWD	PAGS	MQ	STNE	CFLT	NEWR	ALAR
HOOD		0.98	0.05	0.96	-0.85	-0.75	-0.84	0.93	-0.37	0.13	HOOD
PLTR	0.98		0.01	0.96	-0.86	-0.78	-0.85	0.95	-0.41	0.08	PLTR
GCT	0.05	0.01		0.1	-0.22	-0.02	0.02	0.02	0.12	0.29	GCT
CRWD	0.96	0.96	0.1		-0.84	-0.75	-0.82	0.93	-0.37	0.18	CRWD
PAGS	-0.85	-0.86	-0.22	-0.84		0.59	0.86	-0.81	0.2	-0.06	PAGS
MQ	-0.75	-0.78	-0.02	-0.75	0.59		0.65	-0.75	0.44	0.06	MQ
STNE	-0.84	-0.85	0.02	-0.82	0.86	0.65		-0.76	0.25	0.06	STNE
CFLT	0.93	0.95	0.02	0.93	-0.81	-0.75	-0.76		-0.48	0.14	CFLT
NEWR	-0.37	-0.41	0.12	-0.37	0.2	0.44	0.25	-0.48		0.15	NEWR
ALAR	0.13	0.08	0.29	0.18	-0.06	0.06	0.06	0.14	0.15		ALAR
	HOOD	PLTR	GCT	CRWD	PAGS	MQ	STNE	CFLT	NEWR	ALAR

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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

PLTR	+ 0.98	HOOD
CRWD	+ 0.96	HOOD
CRWD	+ 0.96	PLTR
CFLT	+ 0.95	PLTR
CFLT	+ 0.93	HOOD
CFLT	+ 0.93	CRWD

High negative correlations

PAGS	- 0.86	PLTR
STNE	- 0.85	PLTR
PAGS	- 0.85	HOOD
PAGS	- 0.84	CRWD
STNE	- 0.84	HOOD
STNE	- 0.82	CRWD

Risk-Adjusted Indicators

There is a big difference between Nuvei Stock performing well and Nuvei Corp 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 Nuvei Corp'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
HOOD	2.84	0.86	0.22	0.32	3.44	(3.07)	7.46	(4.65)	26.55
PLTR	2.62	1.07	0.47	0.48	1.67	(3.25)	6.88	(2.80)	30.33
GCT	4.58	0.33	0.08	0.21	4.49	(5.66)	9.70	(7.73)	30.15
CRWD	2.03	0.45	0.23	0.37	1.70	(2.30)	4.67	(3.03)	12.69
PAGS	1.75	(0.46)	0.00	(1.87)	0.00	0.00	3.53	(4.82)	11.38
MQ	2.48	(0.21)	0.00	(0.19)	0.00	0.00	4.02	(3.72)	51.58
STNE	2.07	(0.57)	0.00	(0.37)	0.00	0.00	3.24	(5.82)	19.61
CFLT	2.26	0.61	0.22	0.67	2.09	(2.50)	7.14	(3.62)	18.55
NEWR	1.58	(0.04)	0.00	(0.10)	0.00	0.00	2.68	(3.35)	18.35
ALAR	5.37	0.13	0.03	0.13	5.32	(7.06)	12.80	(9.36)	48.00

View Nuvei Corp Related Equities

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Risk & Return

Correlation

Nuvei Corp Corporate Management

Ofer Nissim	Chief Payments	Profile
CA CFA	Chief Officer	Profile
Lindsay Mathews	Gen Sec	Profile
Edi Kadashev	Chief Payments	Profile
Lindsay Matthews	General Secretary	Profile
Anthony Gerstein	VP Relations	Profile
Max Attias	Group Officer	Profile

Still Interested in Nuvei Corp?

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