Connexa Sports Correlations

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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.
  
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 together with Connexa Stock

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Moving against Connexa Stock

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  0.67TPR TapestryPairCorr
  0.45GIL Gildan ActivewearPairCorr
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  0.38MAT Mattel IncPairCorr
  0.78PLBY Plby GroupPairCorr
  0.67MYTE MYT Netherlands ParentPairCorr
  0.6SONY Sony Group CorpPairCorr
  0.59LEVI Levi StraussPairCorr
  0.53JRSH Jerash HoldingsPairCorr
  0.5GOOS Canada Goose HoldingsPairCorr
  0.47RCKY Rocky BrandsPairCorr
  0.45JAKK JAKKS PacificPairCorr
  0.43LANV Lanvin Group HoldingsPairCorr
  0.41AREBW American Rebel HoldingsPairCorr

Related Correlations Analysis

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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   
SPG-PJSSD
EYETITN
SPG-PJPRIM
EYESSD
PRIMSSD
EYESPG-PJ
  
High negative correlations   
TITNPRIM
EYEPRIM
WEYSSPG-PJ
SPG-PJTITN
WEYSSSD
TITNSSD

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.