Ryde Correlations

RYDE Stock

0.32 0.01 3.23%

The current 90-days correlation between Ryde Group and NETGEAR is -0.03 (i.e., Good diversification). The correlation of Ryde 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.

Ryde Correlation With Market

Significant diversification

The correlation between Ryde Group and DJI is 0.01 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Ryde Group 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 Ryde Group. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in unemployment.

Moving together with Ryde Stock

0.63	VTSI	VirTra Inc	Pair Corr
0.67	EGAN	eGain	Pair Corr
0.68	BMR	Beamr Imaging	Pair Corr

Moving against Ryde Stock

0.5	DOMO	Domo Inc	Pair Corr
0.42	ZI	ZoomInfo Technologies	Pair Corr
0.32	ML	MoneyLion	Pair Corr
0.57	API	Agora Inc	Pair Corr
0.53	ENFN	Enfusion	Pair Corr
0.44	ADP	Automatic Data Processing	Pair Corr
0.31	CXM	Sprinklr	Pair Corr

Related Correlations Analysis

	NTGR	CNLFF	GNZUF	GMXTF	PLAY	GZITF	LIND	NCMI
NTGR		-0.03	0.25	-0.67	0.54	0.0	0.74	0.61	NTGR
CNLFF	-0.03		-0.51	-0.32	-0.44	0.0	-0.2	-0.33	CNLFF
GNZUF	0.25	-0.51		0.22	0.24	0.0	0.15	0.21	GNZUF
GMXTF	-0.67	-0.32	0.22		-0.47	0.0	-0.66	-0.45	GMXTF
PLAY	0.54	-0.44	0.24	-0.47		0.0	0.62	0.58	PLAY
GZITF	0.0	0.0	0.0	0.0	0.0		0.0	0.0	GZITF
LIND	0.74	-0.2	0.15	-0.66	0.62	0.0		0.68	LIND
NCMI	0.61	-0.33	0.21	-0.45	0.58	0.0	0.68		NCMI
	NTGR	CNLFF	GNZUF	GMXTF	PLAY	GZITF	LIND	NCMI

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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

LIND	+ 0.74	NTGR
NCMI	+ 0.68	LIND
LIND	+ 0.62	PLAY
NCMI	+ 0.61	NTGR
NCMI	+ 0.58	PLAY
PLAY	+ 0.54	NTGR

High negative correlations

GMXTF	- 0.67	NTGR
LIND	- 0.66	GMXTF
GNZUF	- 0.51	CNLFF
PLAY	- 0.47	GMXTF
NCMI	- 0.45	GMXTF
PLAY	- 0.44	CNLFF

Risk-Adjusted Indicators

There is a big difference between Ryde Stock performing well and Ryde 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 Ryde'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
NTGR	2.13	0.03	0.00	(0.06)	0.00	0.00	4.41	(5.11)	12.12
CNLFF	0.02	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.68
GNZUF	3.46	0.35	0.05	0.19	3.95	(6.58)	9.76	(7.69)	45.71
GMXTF	0.37	0.03	0.00	(0.17)	0.00	0.00	0.00	0.00	7.74
PLAY	3.67	(0.78)	0.00	(0.77)	0.00	0.00	7.82	(9.64)	20.23
GZITF	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
LIND	2.46	(0.08)	0.00	(0.16)	0.00	0.00	5.86	(5.45)	17.77
NCMI	2.02	(0.27)	0.00	(0.57)	0.00	0.00	3.36	(3.53)	26.42

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