Forward Industries Correlations
| FORD Stock | USD 0.51 0.01 2.00% |
The correlation of Forward Industries 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 Forward Industries moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Forward Industries 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.
Good diversification
The correlation between Forward Industries and NYA is -0.01 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Forward Industries and NYA in the same portfolio, assuming nothing else is changed.
Forward |
The ability to find closely correlated positions to Forward Industries could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Forward Industries 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 Forward Industries - 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 Forward Industries to buy it.
Moving together with Forward Stock
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Moving against Forward Stock
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| 0.8 | MYTE | MYT Netherlands Parent Financial Report 8th of May 2024 | PairCorr |
| 0.76 | DOGZ | Dogness International | PairCorr |
| 0.69 | VZIO | Vizio Holding Corp Financial Report 14th of May 2024 | PairCorr |
| 0.69 | HEAR | Turtle Beach Corp Financial Report 2nd of May 2024 | PairCorr |
| 0.67 | WWW | Wolverine World Wide Financial Report 8th of May 2024 | PairCorr |
| 0.64 | WLDS | Wearable Devices | PairCorr |
| 0.58 | BLD | Topbuild Corp Financial Report 2nd of May 2024 | PairCorr |
| 0.45 | MICS | Singing Machine Earnings Call This Week | PairCorr |
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
| High negative correlations
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Risk-Adjusted Indicators
There is a big difference between Forward Stock performing well and Forward Industries 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 Forward Industries' 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| BIRK | 1.96 | (0.20) | 0.00 | (0.01) | 0.00 | 4.88 | 11.00 | |||
| DSWL | 1.21 | (0.16) | 0.00 | (0.53) | 0.00 | 2.22 | 9.98 | |||
| CMT | 1.94 | 0.03 | 0.04 | 0.10 | 2.53 | 3.99 | 10.24 | |||
| KRT | 1.83 | 0.04 | 0.06 | 0.10 | 2.49 | 4.32 | 17.36 | |||
| MYE | 1.22 | 0.16 | 0.11 | 0.24 | 1.35 | 2.92 | 9.12 | |||
| RTC | 8.01 | 0.11 | 0.02 | 0.11 | 16.23 | 20.79 | 121.71 | |||
| TUP | 3.70 | (1.04) | 0.00 | (0.29) | 0.00 | 5.62 | 18.38 |
Be your own money manager
Our tools can tell you how much better you can do entering a position in Forward Industries 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?
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Forward Industries Corporate Directors
Forward Industries corporate directors refer to members of a Forward Industries board of directors. The board of directors generally takes responsibility for the Forward Industries' affairs and long-term direction of the entity. A corporate director does not make decisions for the corporation on his own. As a member of the board of directors, she or he must function as a part of a group that makes decisions on behalf of the business only by the board of directors' meetings. To pass a resolution, a majority of Forward Industries' board members must vote for the resolution. The Forward Industries board of directors' duties also include the election, removal, and supervision of officers, including the adoption, amendment, and repeal of bylaws.| James Ziglar | Director | Profile | |
| Robert Neal | Director | Profile | |
| Joseph Mullin | Director | Profile | |
| Scott Fine | Lead Director | Profile |
Already Invested in Forward Industries?
The danger of trading Forward Industries 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 Forward Industries 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 Forward Industries. The Sharpe ratio is calculated by using standard deviation and excess return to determine reward per unit of risk. To understand how volatile Forward Industries 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 Forward Industries is a strong investment it is important to analyze Forward Industries' 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 Forward Industries' future performance. For an informed investment choice regarding Forward Stock, refer to the following important reports: Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in Forward Industries. Also, note that the market value of any company could be tightly coupled with the direction of predictive economic indicators such as signals in metropolitan statistical area. For information on how to trade Forward Stock refer to our How to Trade Forward Stock guide.You can also try the Risk-Return Analysis module to view associations between returns expected from investment and the risk you assume.
Complementary Tools for Forward Stock analysis
When running Forward Industries' price analysis, check to measure Forward Industries' 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 Forward Industries is operating at the current time. Most of Forward Industries' value examination focuses on studying past and present price action to predict the probability of Forward Industries' future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Forward Industries' price. Additionally, you may evaluate how the addition of Forward Industries to your portfolios can decrease your overall portfolio volatility.
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Is Forward Industries' 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 Forward Industries. If investors know Forward 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 Forward Industries listed above have to be considered, but the key to understanding future value is determining which factors weigh more heavily than others.
Quarterly Earnings Growth (0.85) | Earnings Share (0.01) | Revenue Per Share 3.388 | Quarterly Revenue Growth (0.27) | Return On Assets (0) |
The market value of Forward Industries is measured differently than its book value, which is the value of Forward that is recorded on the company's balance sheet. Investors also form their own opinion of Forward Industries' value that differs from its market value or its book value, called intrinsic value, which is Forward Industries' 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 Forward Industries' market value can be influenced by many factors that don't directly affect Forward Industries' 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 Forward Industries' value and its price as these two are different measures arrived at by different means. Investors typically determine if Forward Industries is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Forward Industries' 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.