Rectitude Holdings Correlations

RECT Stock

4.26 0.28 7.04%

The current 90-days correlation between Rectitude Holdings and AG Mortgage Investment is -0.05 (i.e., Good diversification). The correlation of Rectitude Holdings 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.

Rectitude Holdings Correlation With Market

Good diversification

The correlation between Rectitude Holdings Ltd and DJI is -0.11 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Rectitude Holdings Ltd 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 Rectitude Holdings Ltd. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in main economic indicators.

Moving together with Rectitude Stock

0.88	BV	BrightView Holdings	Pair Corr
0.61	FA	First Advantage Corp	Pair Corr
0.64	FC	Franklin Covey Earnings Call Today	Pair Corr
0.95	DLHC	DLH Holdings Corp	Pair Corr
0.84	VCIG	VCI Global Limited	Pair Corr
0.75	VLTO	Veralto	Pair Corr
0.72	WFCF	Where Food Comes	Pair Corr
0.79	EXPO	Exponent	Pair Corr
0.62	CIX	CompX International	Pair Corr
0.91	FORR	Forrester Research	Pair Corr
0.75	CXW	CoreCivic	Pair Corr
0.93	DLX	Deluxe	Pair Corr
0.66	EFX	Equifax	Pair Corr
0.88	FCN	FTI Consulting	Pair Corr
0.64	GEO	Geo Group	Pair Corr
0.71	HNI	HNI Corp	Pair Corr
0.85	FVRR	Fiverr International	Pair Corr

Moving against Rectitude Stock

0.87	WM	Waste Management	Pair Corr
0.84	KC	Kingsoft Cloud Holdings	Pair Corr
0.78	VRSK	Verisk Analytics	Pair Corr
0.76	G	Genpact Limited	Pair Corr
0.75	LZ	LegalZoom	Pair Corr
0.67	VSEC	VSE Corporation	Pair Corr
0.6	MG	Mistras Group	Pair Corr
0.4	BR	Broadridge Financial	Pair Corr
0.33	EEFT	Euronet Worldwide	Pair Corr
0.32	DRVN	Driven Brands Holdings	Pair Corr
0.84	GDS	GDS Holdings	Pair Corr
0.66	GFL	Gfl Environmental	Pair Corr
0.58	ADP	Automatic Data Processing	Pair Corr
0.56	ACU	Acme United	Pair Corr
0.65	WNS	WNS Holdings	Pair Corr
0.57	STN	Stantec	Pair Corr

Related Correlations Analysis

	ATSG	SLRC	MITT	NWE	AZUL	SKYW
ATSG		0.89	0.67	0.72	0.11	-0.27	ATSG
SLRC	0.89		0.77	0.67	-0.09	-0.42	SLRC
MITT	0.67	0.77		0.7	-0.49	-0.71	MITT
NWE	0.72	0.67	0.7		-0.12	-0.55	NWE
AZUL	0.11	-0.09	-0.49	-0.12		0.68	AZUL
SKYW	-0.27	-0.42	-0.71	-0.55	0.68		SKYW
	ATSG	SLRC	MITT	NWE	AZUL	SKYW

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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

SLRC	+ 0.89	ATSG
MITT	+ 0.77	SLRC
NWE	+ 0.72	ATSG
NWE	+ 0.7	MITT
SKYW	+ 0.68	AZUL
MITT	+ 0.67	ATSG

High negative correlations

SKYW	- 0.71	MITT
SKYW	- 0.55	NWE
AZUL	- 0.49	MITT
SKYW	- 0.42	SLRC
SKYW	- 0.27	ATSG
AZUL	- 0.12	NWE

Risk-Adjusted Indicators

There is a big difference between Rectitude Stock performing well and Rectitude Holdings 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 Rectitude Holdings' 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
ATSG	0.10	0.02	0.42	17.79	0.00	(0.14)	0.36	(0.14)	0.73
SLRC	0.67	0.13	0.16	0.24	0.79	(0.79)	1.46	(1.02)	4.90
MITT	1.14	0.17	0.10	0.19	1.53	(1.20)	1.94	(2.41)	7.01
NWE	1.12	0.17	0.12	0.47	1.51	(1.12)	2.32	(2.57)	7.16
AZUL	3.99	0.02	0.00	(0.02)	0.00	0.00	8.80	(6.42)	19.92
SKYW	1.97	(0.08)	0.00	(0.10)	0.00	0.00	4.09	(4.32)	12.55

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