Connexa Sports Correlations
| YYAI Stock | 0.63 0.03 4.55% |
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 -0.07 (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.
Connexa |
Moving together with Connexa Stock
| 0.61 | BC | Brunswick | PairCorr |
| 0.61 | DOGZ | Dogness International | PairCorr |
| 0.61 | DFH | Dream Finders Homes | PairCorr |
| 0.64 | DHI | DR Horton | PairCorr |
| 0.65 | MHO | MI Homes | PairCorr |
| 0.64 | PVH | PVH Corp | PairCorr |
| 0.61 | VRA | Vera Bradley Earnings Call This Week | PairCorr |
| 0.62 | GOLF | Acushnet Holdings Corp | PairCorr |
Moving against Connexa Stock
| 0.77 | VFC | VF Corporation | PairCorr |
| 0.69 | RL | Ralph Lauren Corp | PairCorr |
| 0.67 | TPR | Tapestry | PairCorr |
| 0.45 | GIL | Gildan Activewear | PairCorr |
| 0.43 | MSN | Emerson Radio | PairCorr |
| 0.38 | MAT | Mattel Inc | PairCorr |
| 0.78 | PLBY | Plby Group | PairCorr |
| 0.67 | MYTE | MYT Netherlands Parent | PairCorr |
| 0.6 | SONY | Sony Group Corp | PairCorr |
| 0.59 | LEVI | Levi Strauss | PairCorr |
| 0.53 | JRSH | Jerash Holdings | PairCorr |
| 0.5 | GOOS | Canada Goose Holdings | PairCorr |
| 0.47 | RCKY | Rocky Brands | PairCorr |
| 0.45 | JAKK | JAKKS Pacific | PairCorr |
| 0.43 | LANV | Lanvin Group Holdings | PairCorr |
| 0.41 | AREBW | American Rebel Holdings | PairCorr |
Related Correlations Analysis
| 0.33 | -0.07 | 0.77 | 0.37 | -0.1 | SSD | ||
| 0.33 | -0.48 | 0.39 | -0.33 | -0.05 | PRIM | ||
| -0.07 | -0.48 | -0.1 | 0.57 | 0.03 | TITN | ||
| 0.77 | 0.39 | -0.1 | 0.16 | -0.14 | SPG-PJ | ||
| 0.37 | -0.33 | 0.57 | 0.16 | -0.06 | EYE | ||
| -0.1 | -0.05 | 0.03 | -0.14 | -0.06 | WEYS | ||
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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
| High negative correlations
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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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| SSD | 1.37 | (0.15) | 0.00 | (0.21) | 0.00 | 2.48 | 11.18 | |||
| PRIM | 2.24 | (0.16) | 0.00 | (0.21) | 0.00 | 4.19 | 25.01 | |||
| TITN | 2.40 | 0.20 | 0.05 | 0.05 | 3.11 | 4.22 | 17.36 | |||
| SPG-PJ | 0.73 | (0.06) | 0.00 | (1.29) | 0.00 | 1.73 | 5.57 | |||
| EYE | 2.12 | 0.20 | 0.09 | 0.19 | 2.31 | 4.80 | 14.76 | |||
| WEYS | 1.55 | (0.06) | 0.00 | (0.14) | 0.00 | 3.32 | 9.79 |