Wellchange Holdings Correlations

WCT Stock

1.39 0.36 34.95%

The current 90-days correlation between Wellchange Holdings and Gfl Environmental Holdings is 0.02 (i.e., Significant diversification). The correlation of Wellchange 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.

Wellchange Holdings Correlation With Market

Average diversification

The correlation between Wellchange Holdings and DJI is 0.14 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Wellchange Holdings and DJI in the same portfolio, assuming nothing else is changed.

Check out Your Current Watchlist to better understand how to build diversified portfolios, which includes a position in Wellchange 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 main economic indicators.

For more information on how to buy Wellchange Stock please use our How to Invest in Wellchange Holdings guide.

Moving together with Wellchange Stock

0.7	VERB	VERB TECHNOLOGY PANY Tech Boost	Pair Corr
0.61	VTEX	VTEX	Pair Corr
0.63	EVOL	Evolving Systems	Pair Corr

Moving against Wellchange Stock

0.8	AI	C3 Ai Inc	Pair Corr
0.76	WK	Workiva	Pair Corr
0.73	DUOL	Duolingo	Pair Corr
0.71	VERX	Vertex	Pair Corr
0.69	ML	MoneyLion	Pair Corr
0.69	DOCU	DocuSign	Pair Corr
0.66	U	Unity Software	Pair Corr
0.62	BL	Blackline	Pair Corr
0.62	DV	DoubleVerify Holdings	Pair Corr
0.6	DSGX	Descartes Systems	Pair Corr
0.55	DJCO	Daily Journal Corp	Pair Corr
0.55	ZM	Zoom Video Communications	Pair Corr
0.49	EB	Eventbrite Class A	Pair Corr
0.48	AZ	A2Z Smart Technologies	Pair Corr
0.31	DT	Dynatrace Holdings LLC	Pair Corr
0.31	PD	Pagerduty	Pair Corr
0.83	EXFY	Expensify	Pair Corr
0.82	ENFN	Enfusion	Pair Corr
0.78	ESTC	Elastic NV	Pair Corr
0.72	WFCF	Where Food Comes	Pair Corr
0.63	WDAY	Workday	Pair Corr
0.61	VMEO	Vimeo Inc	Pair Corr
0.56	EGHT	8x8 Common Stock	Pair Corr
0.5	EGAN	eGain	Pair Corr
0.44	DUOT	Duos Technologies Tech Boost	Pair Corr
0.42	VTSI	VirTra Inc	Pair Corr

Related Correlations Analysis

	GFL	EWBC	NDAQ	ROBXF	TNJIF	ALDF	SEIC
GFL		0.84	0.95	0.0	0.79	-0.08	0.89	GFL
EWBC	0.84		0.9	0.0	0.79	-0.06	0.78	EWBC
NDAQ	0.95	0.9		0.0	0.8	-0.08	0.91	NDAQ
ROBXF	0.0	0.0	0.0		0.0	0.0	0.0	ROBXF
TNJIF	0.79	0.79	0.8	0.0		-0.04	0.87	TNJIF
ALDF	-0.08	-0.06	-0.08	0.0	-0.04		-0.07	ALDF
SEIC	0.89	0.78	0.91	0.0	0.87	-0.07		SEIC
	GFL	EWBC	NDAQ	ROBXF	TNJIF	ALDF	SEIC

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

NDAQ	+ 0.95	GFL
SEIC	+ 0.91	NDAQ
NDAQ	+ 0.9	EWBC
SEIC	+ 0.89	GFL
SEIC	+ 0.87	TNJIF
EWBC	+ 0.84	GFL

High negative correlations

ALDF	- 0.08	NDAQ
ALDF	- 0.08	GFL
SEIC	- 0.07	ALDF
ALDF	- 0.06	EWBC
ALDF	- 0.04	TNJIF
SEIC	- 0.0	ROBXF

Risk-Adjusted Indicators

There is a big difference between Wellchange Stock performing well and Wellchange 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 Wellchange 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
GFL	1.06	0.17	0.14	0.59	0.98	(1.20)	2.53	(1.93)	7.37
EWBC	1.46	0.29	0.15	2.25	1.67	(1.67)	3.93	(2.70)	14.74
NDAQ	0.83	0.10	0.08	0.41	1.07	(0.85)	1.78	(1.77)	4.58
ROBXF	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
TNJIF	0.35	0.17	0.00	(1.58)	0.00	0.00	0.00	0.00	11.76
ALDF	0.09	0.00	0.00	(0.39)	0.00	0.00	0.20	(0.20)	0.40
SEIC	0.90	0.26	0.18	4.65	1.07	(1.02)	1.58	(1.59)	10.38

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