Primega Group Correlations

PGHL Stock

0.82 0.08 10.81%

The current 90-days correlation between Primega Group Holdings and Pintec Technology Holdings is -0.05 (i.e., Good diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Primega Group moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Primega Group Holdings moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Primega Group Correlation With Market

Modest diversification

The correlation between Primega Group Holdings and DJI is 0.2 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Primega Group Holdings and DJI in the same portfolio, assuming nothing else is changed.

Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in Primega Group Holdings. 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 Primega Stock

0.66	ESOA	Energy Services	Pair Corr
0.78	ACM	Aecom Technology	Pair Corr
0.7	FGL	Founder Group Limited	Pair Corr
0.72	FLR	Fluor	Pair Corr
0.75	GVA	Granite Construction	Pair Corr
0.66	PWR	Quanta Services	Pair Corr
0.69	TPC	Tutor Perini	Pair Corr
0.66	GLDD	Great Lakes Dredge	Pair Corr
0.7	MYRG	MYR Group	Pair Corr
0.84	NVEE	NV5 Global	Pair Corr
0.66	RITR	Reitar Logtech Holdings	Pair Corr
0.84	ROAD	Construction Partners	Pair Corr
0.85	AMRC	Ameresco	Pair Corr
0.69	SHIM	Shimmick Common	Pair Corr
0.79	STRL	Sterling Construction	Pair Corr
0.82	BLNK	Blink Charging	Pair Corr
0.67	BWMN	Bowman Consulting	Pair Corr

Moving against Primega Stock

0.74	VATE	Innovate Corp Earnings Call This Week	Pair Corr
0.59	WLGS	Wang Lee Group,	Pair Corr
0.33	APG	Api Group Corp	Pair Corr
0.53	MTRX	Matrix Service	Pair Corr
0.69	G	Genpact Limited	Pair Corr
0.56	BBCP	Concrete Pumping Holdings Earnings Call This Week	Pair Corr
0.36	BR	Broadridge Financial	Pair Corr
0.31	BA	Boeing	Pair Corr

Related Correlations Analysis

	KEY-PI	SPNT	ALDF	VMC	PMNXF	THG	PT
KEY-PI		-0.04	0.46	0.27	0.35	0.41	0.51	KEY-PI
SPNT	-0.04		0.15	0.35	0.08	0.0	-0.35	SPNT
ALDF	0.46	0.15		0.55	0.63	0.65	0.29	ALDF
VMC	0.27	0.35	0.55		0.65	0.45	-0.17	VMC
PMNXF	0.35	0.08	0.63	0.65		0.59	0.1	PMNXF
THG	0.41	0.0	0.65	0.45	0.59		0.27	THG
PT	0.51	-0.35	0.29	-0.17	0.1	0.27		PT
	KEY-PI	SPNT	ALDF	VMC	PMNXF	THG	PT

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

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

THG	+ 0.65	ALDF
PMNXF	+ 0.65	VMC
PMNXF	+ 0.63	ALDF
THG	+ 0.59	PMNXF
VMC	+ 0.55	ALDF
PT	+ 0.51	KEY-PI

High negative correlations

PT	- 0.35	SPNT
PT	- 0.17	VMC
SPNT	- 0.04	KEY-PI
THG	- 0.0	SPNT

Risk-Adjusted Indicators

There is a big difference between Primega Stock performing well and Primega Group 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 Primega Group'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
KEY-PI	0.64	(0.01)	0.00	0.21	0.00	0.00	1.34	(1.51)	3.95
SPNT	1.68	(0.02)	0.00	(0.03)	0.00	0.00	2.59	(3.75)	19.39
ALDF	0.09	0.02	0.14	0.89	0.00	(0.16)	0.20	(0.20)	0.50
VMC	1.01	(0.17)	0.00	(32.33)	0.00	0.00	2.01	(2.22)	5.98
PMNXF	1.81	0.25	0.09	(2.39)	1.96	(2.56)	4.65	(3.91)	9.77
THG	1.14	(0.03)	0.00	(0.04)	0.00	0.00	2.65	(2.03)	6.66
PT	2.18	0.06	0.02	(1.87)	2.28	(3.28)	5.56	(4.59)	20.95

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2024 Macroaxis LLC