ZKH Group Correlations

ZKH Stock

3.24 0.21 6.09%

The current 90-days correlation between ZKH Group Limited and Brunswick is 0.15 (i.e., Average diversification). The correlation of ZKH Group 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.

ZKH Group Correlation With Market

Significant diversification

The correlation between ZKH Group Limited and DJI is 0.02 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding ZKH Group Limited 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 ZKH Group Limited. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in industry.

Moving against ZKH Stock

0.46	SW	Smurfit WestRock plc	Pair Corr
0.44	FIGS	Figs Inc	Pair Corr
0.41	IPW	iPower Inc	Pair Corr
0.4	QVCGA	QVC Group Symbol Change	Pair Corr
0.4	DMN	Damon Common Stock	Pair Corr
0.38	AIN	Albany International	Pair Corr
0.35	F-PC	Ford Motor	Pair Corr
0.33	F-PD	F PD	Pair Corr
0.56	KFS	Kingsway Financial	Pair Corr
0.46	MED	MEDIFAST INC	Pair Corr
0.46	MLR	Miller Industries	Pair Corr
0.45	HNI	HNI Corp	Pair Corr
0.45	SAG	SAG Holdings Limited	Pair Corr
0.41	IVP	Inspire Veterinary	Pair Corr
0.4	MMA	Alta Global Group	Pair Corr
0.37	MRM	Medirom Healthcare Earnings Call This Week	Pair Corr
0.36	GEF	Greif Bros	Pair Corr
0.35	SCS	Steelcase	Pair Corr
0.32	PKG	Packaging Corp	Pair Corr

Related Correlations Analysis

	BC	MAT	ASR	ASO	CAAP	PLYA	CNLFF
BC		-0.43	0.04	0.68	0.82	-0.67	-0.42	BC
MAT	-0.43		0.4	-0.59	-0.31	0.58	0.41	MAT
ASR	0.04	0.4		-0.26	0.27	0.23	0.24	ASR
ASO	0.68	-0.59	-0.26		0.49	-0.51	-0.48	ASO
CAAP	0.82	-0.31	0.27	0.49		-0.46	-0.23	CAAP
PLYA	-0.67	0.58	0.23	-0.51	-0.46		0.77	PLYA
CNLFF	-0.42	0.41	0.24	-0.48	-0.23	0.77		CNLFF
	BC	MAT	ASR	ASO	CAAP	PLYA	CNLFF

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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

CAAP	+ 0.82	BC
CNLFF	+ 0.77	PLYA
ASO	+ 0.68	BC
PLYA	+ 0.58	MAT
CAAP	+ 0.49	ASO
CNLFF	+ 0.41	MAT

High negative correlations

PLYA	- 0.67	BC
ASO	- 0.59	MAT
PLYA	- 0.51	ASO
CNLFF	- 0.48	ASO
PLYA	- 0.46	CAAP
MAT	- 0.43	BC

Risk-Adjusted Indicators

There is a big difference between ZKH Stock performing well and ZKH Group 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 ZKH Group'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
BC	1.55	(0.32)	0.00	(0.32)	0.00	0.00	2.70	(3.55)	9.68
MAT	1.31	0.13	0.08	0.09	1.72	(1.35)	2.20	(2.73)	19.38
ASR	1.67	0.25	0.12	0.15	1.81	(1.84)	3.01	(3.29)	13.79
ASO	1.83	(0.09)	0.00	(0.18)	0.00	0.00	3.59	(4.08)	13.16
CAAP	1.82	(0.11)	0.00	(0.19)	0.00	0.00	3.61	(4.04)	15.56
PLYA	1.26	0.51	0.42	0.65	0.63	(1.67)	2.32	(1.53)	31.78
CNLFF	0.02	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.68

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