Connexa Sports Correlations

YYAI Stock

0.71 0.03 4.05%

The current 90-days correlation between Connexa Sports Techn and Skillful Craftsman Education is 0.16 (i.e., Average diversification). The correlation of Connexa Sports 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.

Connexa Sports Correlation With Market

Good diversification

The correlation between Connexa Sports Technologies 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 Connexa Sports Technologies 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 Connexa Sports Technologies. 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 against Connexa Stock

0.71	JD	JD Inc Adr	Pair Corr
0.53	GIL	Gildan Activewear	Pair Corr
0.46	ZGN	Ermenegildo Zegna Earnings Call Tomorrow	Pair Corr
0.39	TMHC	Taylor Morn Home	Pair Corr
0.62	PDD	PDD Holdings	Pair Corr
0.56	MELI	MercadoLibre	Pair Corr
0.39	NATH	Nathans Famous	Pair Corr
0.32	MCD	McDonalds	Pair Corr
0.31	YUM	Yum Brands Sell-off Trend	Pair Corr

Related Correlations Analysis

	JDDSF	GHC	JDSPY	DOOO	VSTA	EDTK	UBSFF
JDDSF		-0.85	0.84	0.7	-0.79	0.11	0.18	JDDSF
GHC	-0.85		-0.7	-0.76	0.71	-0.15	-0.1	GHC
JDSPY	0.84	-0.7		0.72	-0.86	0.08	-0.14	JDSPY
DOOO	0.7	-0.76	0.72		-0.87	0.18	-0.29	DOOO
VSTA	-0.79	0.71	-0.86	-0.87		-0.09	0.34	VSTA
EDTK	0.11	-0.15	0.08	0.18	-0.09		-0.07	EDTK
UBSFF	0.18	-0.1	-0.14	-0.29	0.34	-0.07		UBSFF
	JDDSF	GHC	JDSPY	DOOO	VSTA	EDTK	UBSFF

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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

JDSPY	+ 0.84	JDDSF
DOOO	+ 0.72	JDSPY
VSTA	+ 0.71	GHC
DOOO	+ 0.7	JDDSF
UBSFF	+ 0.34	VSTA
UBSFF	+ 0.18	JDDSF

High negative correlations

VSTA	- 0.87	DOOO
VSTA	- 0.86	JDSPY
GHC	- 0.85	JDDSF
VSTA	- 0.79	JDDSF
DOOO	- 0.76	GHC
JDSPY	- 0.7	GHC

Risk-Adjusted Indicators

There is a big difference between Connexa Stock performing well and Connexa Sports 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 Connexa Sports' 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
JDDSF	0.86	(0.45)	0.00	0.54	0.00	0.00	0.00	0.00	19.86
GHC	1.24	0.11	0.07	0.09	1.39	(1.40)	3.13	(2.36)	6.04
JDSPY	2.84	(0.36)	0.00	1.49	0.00	0.00	6.32	(5.61)	19.90
DOOO	2.08	(0.54)	0.00	(0.40)	0.00	0.00	3.23	(4.55)	11.56
VSTA	2.73	1.11	0.26	11.28	3.17	(3.04)	6.27	(6.48)	21.46
EDTK	2.44	0.12	0.03	(0.61)	2.76	(3.11)	5.36	(4.24)	15.33
UBSFF	2.31	0.26	0.07	0.24	2.47	(3.45)	5.72	(5.09)	23.66

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