SWK Holdings Correlations

SWKHL Stock

25.20 0.05 0.20%

The current 90-days correlation between SWK Holdings and Anterix is -0.08 (i.e., Good diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as SWK Holdings moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if SWK Holdings moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

SWK Holdings Correlation With Market

Significant diversification

The correlation between SWK Holdings and DJI is 0.05 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding SWK Holdings and DJI in the same portfolio, assuming nothing else is changed.

Check out World Market Map to better understand how to build diversified portfolios, which includes a position in SWK 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.

For more information on how to buy SWK Stock please use our How to buy in SWK Stock guide.

Moving together with SWK Stock

0.66	DX	Dynex Capital	Pair Corr
0.63	LX	Lexinfintech Holdings	Pair Corr
0.65	RM	Regional Management Corp	Pair Corr

Moving against SWK Stock

0.32	PT	Pintec Technology	Pair Corr
0.65	XP	Xp Inc	Pair Corr
0.6	WD	Walker Dunlop	Pair Corr

Related Correlations Analysis

	ATEX	TTWO	BCE	ARW	CCG	CPS	ZD
ATEX		-0.3	0.48	0.36	0.25	0.15	-0.15	ATEX
TTWO	-0.3		-0.92	-0.82	0.28	0.57	0.96	TTWO
BCE	0.48	-0.92		0.9	-0.21	-0.47	-0.86	BCE
ARW	0.36	-0.82	0.9		-0.37	-0.49	-0.76	ARW
CCG	0.25	0.28	-0.21	-0.37		0.4	0.37	CCG
CPS	0.15	0.57	-0.47	-0.49	0.4		0.63	CPS
ZD	-0.15	0.96	-0.86	-0.76	0.37	0.63		ZD
	ATEX	TTWO	BCE	ARW	CCG	CPS	ZD

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

ZD	+ 0.96	TTWO
ARW	+ 0.9	BCE
ZD	+ 0.63	CPS
CPS	+ 0.57	TTWO
BCE	+ 0.48	ATEX
CPS	+ 0.4	CCG

High negative correlations

BCE	- 0.92	TTWO
ZD	- 0.86	BCE
ARW	- 0.82	TTWO
ZD	- 0.76	ARW
CPS	- 0.49	ARW
CPS	- 0.47	BCE

Risk-Adjusted Indicators

There is a big difference between SWK Stock performing well and SWK 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 SWK 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
ATEX	1.70	(0.32)	0.00	(0.49)	0.00	0.00	3.49	(4.97)	13.20
TTWO	0.95	0.27	0.23	(15.33)	0.88	(1.08)	2.73	(2.13)	9.73
BCE	0.94	(0.56)	0.00	16.44	0.00	0.00	1.47	(1.83)	11.91
ARW	1.20	(0.26)	0.00	1.37	0.00	0.00	2.03	(1.80)	14.19
CCG	4.22	0.40	0.08	0.35	4.35	(6.22)	8.33	(5.95)	36.78
CPS	2.68	0.00	0.00	0.07	3.54	(2.78)	6.04	(6.78)	24.57
ZD	1.58	0.20	0.10	1.11	1.92	(1.70)	2.37	(2.73)	20.12

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