Royalty Management Correlations
| RMCOW Stock | 0.02 0.0001 0.67% |
The current 90-days correlation between Royalty Management and Philip Morris International is -0.06 (i.e., Good diversification). The correlation of Royalty Management 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.
Royalty Management Correlation With Market
Good diversification
The correlation between Royalty Management Holding and DJI is -0.09 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Royalty Management Holding and DJI in the same portfolio, assuming nothing else is changed.
Royalty |
Moving against Royalty Stock
| 0.48 | MA | Mastercard | PairCorr |
| 0.48 | MS | Morgan Stanley Fiscal Year End 21st of January 2025 | PairCorr |
| 0.48 | AMP | Ameriprise Financial Fiscal Year End 22nd of January 2025 | PairCorr |
| 0.48 | COF | Capital One Financial Fiscal Year End 23rd of January 2025 | PairCorr |
| 0.47 | TW | Tradeweb Markets Normal Trading | PairCorr |
| 0.47 | FINV | FinVolution Group | PairCorr |
| 0.46 | ENVA | Enova International | PairCorr |
| 0.44 | V | Visa Class A | PairCorr |
| 0.44 | AXP | American Express Fiscal Year End 24th of January 2025 | PairCorr |
| 0.39 | AGM | Federal Agricultural | PairCorr |
| 0.33 | FDUS | Fidus Investment Corp | PairCorr |
| 0.51 | FRHC | Freedom Holding Corp | PairCorr |
| 0.51 | MFIN | Medallion Financial Corp Normal Trading | PairCorr |
| 0.49 | SYF | Synchrony Financial Fiscal Year End 28th of January 2025 | PairCorr |
| 0.47 | DFS | Discover Financial Fiscal Year End 15th of January 2025 | PairCorr |
| 0.47 | LRFC | Logan Ridge Finance | PairCorr |
| 0.44 | IREN | Iris Energy | PairCorr |
| 0.41 | PYPL | PayPal Holdings Aggressive Push | PairCorr |
| 0.39 | SLM | SLM Corp Normal Trading | PairCorr |
| 0.39 | OPRT | Oportun Financial Corp | PairCorr |
| 0.31 | PPYAU | Papaya Growth Opportunity | PairCorr |
| 0.52 | SEIC | SEI Investments | PairCorr |
| 0.51 | SOFI | SoFi Technologies Aggressive Push | PairCorr |
| 0.48 | C | Citigroup Fiscal Year End 10th of January 2025 | PairCorr |
| 0.46 | ALLY | Ally Financial Sell-off Trend | PairCorr |
| 0.44 | STEP | Stepstone Group | PairCorr |
| 0.44 | UPST | Upstart Holdings | PairCorr |
Related Correlations Analysis
| 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
| High negative correlations
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Risk-Adjusted Indicators
There is a big difference between Royalty Stock performing well and Royalty Management 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 Royalty Management'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| PM | 1.04 | 0.05 | (0.03) | (0.08) | 1.44 | 1.99 | 15.67 | |||
| BUD | 0.85 | (0.28) | 0.00 | 1.28 | 0.00 | 1.22 | 9.38 | |||
| WB | 2.95 | 0.66 | 0.14 | (0.91) | 3.23 | 7.64 | 23.98 | |||
| UVV | 1.02 | 0.10 | 0.07 | 0.20 | 1.02 | 2.44 | 5.64 | |||
| KO | 0.69 | (0.19) | 0.00 | 14.14 | 0.00 | 1.19 | 4.00 | |||
| JAPAY | 0.79 | (0.11) | 0.00 | (1.19) | 0.00 | 1.52 | 5.09 | |||
| WEST | 2.90 | (0.06) | (0.02) | (0.01) | 3.47 | 6.50 | 17.92 |
Royalty Management Related Equities
One of the popular trading techniques among algorithmic traders is to use market-neutral strategies where every trade hedges away some risk. Because there are two separate transactions required, even if one position performs unexpectedly, the other equity can make up some of the losses. Below are some of the equities that can be combined with Royalty Management stock to make a market-neutral strategy. Peer analysis of Royalty Management could also be used in its relative valuation, which is a method of valuing Royalty Management by comparing valuation metrics with similar companies.
| Risk & Return | Correlation |