Veea Correlations

VEEAW Stock

0.16 0 2.56%

The current 90-days correlation between Veea Inc and Fiserv, is 0.1 (i.e., Average diversification). The correlation of Veea 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.

Veea Correlation With Market

Good diversification

The correlation between Veea Inc and DJI is -0.06 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Veea Inc 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 Veea Inc. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in nation.

Moving together with Veea Stock

0.65	ACN	Accenture plc	Pair Corr
0.71	FIS	Fidelity National	Pair Corr
0.7	JKHY	Jack Henry Associates	Pair Corr

Moving against Veea Stock

0.56	VEEA	Veea Inc Symbol Change	Pair Corr
0.6	BNAIW	Brand Engagement Network Symbol Change	Pair Corr
0.59	PSCO	ProtoSource	Pair Corr
0.43	PENG	Penguin Solutions, Symbol Change	Pair Corr
0.35	INFY	Infosys Ltd ADR	Pair Corr
0.35	NOTE	FiscalNote Holdings	Pair Corr

Related Correlations Analysis

	FI	IT	JZ	KD	DMRC	VEEA	DTST	VNET	EPAM	ACN
FI		0.57	0.46	0.75	0.77	-0.68	0.41	0.37	0.71	0.51	FI
IT	0.57		0.28	0.29	0.41	-0.31	0.36	0.17	0.42	0.57	IT
JZ	0.46	0.28		0.24	0.06	-0.48	0.24	0.47	0.3	0.45	JZ
KD	0.75	0.29	0.24		0.73	-0.51	0.66	0.46	0.91	0.35	KD
DMRC	0.77	0.41	0.06	0.73		-0.54	0.47	0.24	0.62	0.37	DMRC
VEEA	-0.68	-0.31	-0.48	-0.51	-0.54		-0.24	-0.33	-0.47	-0.54	VEEA
DTST	0.41	0.36	0.24	0.66	0.47	-0.24		0.36	0.74	0.22	DTST
VNET	0.37	0.17	0.47	0.46	0.24	-0.33	0.36		0.28	0.43	VNET
EPAM	0.71	0.42	0.3	0.91	0.62	-0.47	0.74	0.28		0.26	EPAM
ACN	0.51	0.57	0.45	0.35	0.37	-0.54	0.22	0.43	0.26		ACN
	FI	IT	JZ	KD	DMRC	VEEA	DTST	VNET	EPAM	ACN

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

Please upgrade your account to get full access to Macroaxis premium features

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

EPAM	+ 0.91	KD
DMRC	+ 0.77	FI
KD	+ 0.75	FI
EPAM	+ 0.74	DTST
DMRC	+ 0.73	KD
EPAM	+ 0.71	FI

High negative correlations

VEEA	- 0.68	FI
ACN	- 0.54	VEEA
VEEA	- 0.54	DMRC
VEEA	- 0.51	KD
VEEA	- 0.48	JZ
EPAM	- 0.47	VEEA

Risk-Adjusted Indicators

There is a big difference between Veea Stock performing well and Veea 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 Veea'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
FI	0.94	0.12	0.09	0.23	1.15	(1.04)	1.97	(1.43)	9.52
IT	0.75	(0.06)	(0.05)	0.05	1.00	(0.73)	1.37	(1.46)	7.23
JZ	5.08	0.37	0.04	1.23	5.85	(6.87)	13.13	(10.28)	49.08
KD	1.60	0.51	0.37	0.47	0.85	(1.99)	3.41	(2.39)	16.05
DMRC	2.32	0.48	0.15	2.07	2.33	(2.73)	6.40	(3.12)	21.19
VEEA	9.14	(1.03)	0.00	(0.17)	0.00	0.00	11.11	(18.78)	157.04
DTST	3.31	0.68	0.11	1.82	4.65	(4.01)	8.89	(4.12)	43.14
VNET	4.82	0.88	0.12	(1.55)	5.79	(5.36)	9.89	(9.11)	30.11
EPAM	1.47	0.16	0.14	0.24	1.16	(1.80)	4.20	(2.46)	18.82
ACN	1.07	0.01	(0.01)	0.12	1.56	(1.09)	2.12	(2.35)	10.10

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