Chardan NexTech Correlations
| DFLI Stock | USD 0.83 0.07 9.21% |
The correlation of Chardan NexTech 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 perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Chardan NexTech moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Chardan NexTech Acquisition moves in either direction, the perfectly negatively correlated security will move in the opposite direction. If the correlation is 0, the equities are not correlated; they are entirely random. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.
Average diversification
The correlation between Chardan NexTech Acquisition and NYA is 0.16 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Chardan NexTech Acquisition and NYA in the same portfolio, assuming nothing else is changed.
Chardan |
The ability to find closely correlated positions to Chardan NexTech could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Chardan NexTech when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back Chardan NexTech - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling Chardan NexTech Acquisition to buy it.
Moving against Chardan Stock
| 0.58 | BE | Bloom Energy Corp Financial Report 14th of May 2024 | PairCorr |
| 0.47 | ENR | Energizer Holdings Financial Report 13th of May 2024 | PairCorr |
| 0.43 | EPOW | Sunrise New Energy Report 21st of May 2024 | PairCorr |
| 0.43 | ENS | Enersys Financial Report 22nd of May 2024 | PairCorr |
Related Correlations Analysis
| 0.8 | 0.24 | 0.19 | 0.81 | -0.15 | 0.81 | ENVX | ||
| 0.8 | 0.34 | 0.33 | 0.73 | -0.33 | 0.86 | AMPX | ||
| 0.24 | 0.34 | 0.64 | 0.5 | 0.38 | 0.13 | PPSI | ||
| 0.19 | 0.33 | 0.64 | 0.35 | 0.27 | 0.32 | CBAT | ||
| 0.81 | 0.73 | 0.5 | 0.35 | 0.01 | 0.73 | OPTT | ||
| -0.15 | -0.33 | 0.38 | 0.27 | 0.01 | -0.29 | IPWR | ||
| 0.81 | 0.86 | 0.13 | 0.32 | 0.73 | -0.29 | GWH | ||
| 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
| High negative correlations
|
Risk-Adjusted Indicators
There is a big difference between Chardan Stock performing well and Chardan NexTech 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 Chardan NexTech'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| ENVX | 3.64 | (0.90) | 0.00 | (0.27) | 0.00 | 7.66 | 22.83 | |||
| AMPX | 3.17 | (1.49) | 0.00 | (2.70) | 0.00 | 5.98 | 21.71 | |||
| PPSI | 2.70 | (0.47) | 0.00 | (1.25) | 0.00 | 5.54 | 30.90 | |||
| CBAT | 2.65 | (0.19) | 0.00 | (0.12) | 0.00 | 4.72 | 22.68 | |||
| OPTT | 3.14 | (0.58) | 0.00 | (0.52) | 0.00 | 7.14 | 29.95 | |||
| IPWR | 4.40 | (0.12) | 0.00 | 0.01 | 4.79 | 8.28 | 49.23 | |||
| GWH | 3.83 | (0.51) | 0.00 | (0.16) | 0.00 | 8.75 | 20.20 |
Be your own money manager
Our tools can tell you how much better you can do entering a position in Chardan NexTech without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.Did you try this?
Run Idea Optimizer Now
Idea OptimizerUse advanced portfolio builder with pre-computed micro ideas to build optimal portfolio |
| All Next | Launch Module |
Chardan NexTech Corporate Management
Elected by the shareholders, the Chardan NexTech's board of directors comprises two types of representatives: Chardan NexTech inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Chardan. The board's role is to monitor Chardan NexTech's management team and ensure that shareholders' interests are well served. Chardan NexTech's inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, Chardan NexTech's outside directors are responsible for providing unbiased perspectives on the board's policies.
| Wade Seaburg | Chief Officer | Profile | |
| Denis Phares | Chairman, CoFounder | Profile | |
| Tyler Bourns | Chief Officer | Profile | |
| John MBA | Chief Officer | Profile | |
| Nicole Harvey | Compliance Officer | Profile |
Already Invested in Chardan NexTech Acquisition?
The danger of trading Chardan NexTech Acquisition is mainly related to its market volatility and Company specific events. As an investor, you must understand the concept of risk-adjusted return before you start trading. The most common way to measure the risk of Chardan NexTech is by using the Sharpe ratio. The ratio expresses how much excess return you acquire for the extra volatility you endure for holding a more risker asset than Chardan NexTech. The Sharpe ratio is calculated by using standard deviation and excess return to determine reward per unit of risk. To understand how volatile Chardan NexTech Acqu is, you must compare it to a benchmark. Traditionally, the risk-free rate of return is the rate of return on the shortest-dated U.S. Treasury, such as a 3-year bond.
When determining whether Chardan NexTech Acqu is a strong investment it is important to analyze Chardan NexTech's competitive position within its industry, examining market share, product or service uniqueness, and competitive advantages. Beyond financials and market position, potential investors should also consider broader economic conditions, industry trends, and any regulatory or geopolitical factors that may impact Chardan NexTech's future performance. For an informed investment choice regarding Chardan Stock, refer to the following important reports: Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in Chardan NexTech Acquisition. Also, note that the market value of any company could be tightly coupled with the direction of predictive economic indicators such as signals in bureau of economic analysis. You can also try the Earnings Calls module to check upcoming earnings announcements updated hourly across public exchanges.
Complementary Tools for Chardan Stock analysis
When running Chardan NexTech's price analysis, check to measure Chardan NexTech's market volatility, profitability, liquidity, solvency, efficiency, growth potential, financial leverage, and other vital indicators. We have many different tools that can be utilized to determine how healthy Chardan NexTech is operating at the current time. Most of Chardan NexTech's value examination focuses on studying past and present price action to predict the probability of Chardan NexTech's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Chardan NexTech's price. Additionally, you may evaluate how the addition of Chardan NexTech to your portfolios can decrease your overall portfolio volatility.
| Price Transformation Use Price Transformation models to analyze the depth of different equity instruments across global markets | |
| Portfolio Optimization Compute new portfolio that will generate highest expected return given your specified tolerance for risk | |
| AI Investment Finder Use AI to screen and filter profitable investment opportunities | |
| Equity Forecasting Use basic forecasting models to generate price predictions and determine price momentum | |
| Equity Search Search for actively traded equities including funds and ETFs from over 30 global markets | |
| Efficient Frontier Plot and analyze your portfolio and positions against risk-return landscape of the market. | |
| Portfolio Dashboard Portfolio dashboard that provides centralized access to all your investments | |
| ETFs Find actively traded Exchange Traded Funds (ETF) from around the world | |
| Portfolio Volatility Check portfolio volatility and analyze historical return density to properly model market risk |
Is Chardan NexTech's industry expected to grow? Or is there an opportunity to expand the business' product line in the future? Factors like these will boost the valuation of Chardan NexTech. If investors know Chardan will grow in the future, the company's valuation will be higher. The financial industry is built on trying to define current growth potential and future valuation accurately. All the valuation information about Chardan NexTech listed above have to be considered, but the key to understanding future value is determining which factors weigh more heavily than others.
Earnings Share (0.26) | Revenue Per Share 1.22 | Quarterly Revenue Growth (0.48) | Return On Assets (0.21) | Return On Equity (0.71) |
The market value of Chardan NexTech Acqu is measured differently than its book value, which is the value of Chardan that is recorded on the company's balance sheet. Investors also form their own opinion of Chardan NexTech's value that differs from its market value or its book value, called intrinsic value, which is Chardan NexTech's true underlying value. Investors use various methods to calculate intrinsic value and buy a stock when its market value falls below its intrinsic value. Because Chardan NexTech's market value can be influenced by many factors that don't directly affect Chardan NexTech's underlying business (such as a pandemic or basic market pessimism), market value can vary widely from intrinsic value.
Please note, there is a significant difference between Chardan NexTech's value and its price as these two are different measures arrived at by different means. Investors typically determine if Chardan NexTech is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Chardan NexTech's price is the amount at which it trades on the open market and represents the number that a seller and buyer find agreeable to each party.