NFT Correlations

MI Stock

8.80 0.30 3.53%

The current 90-days correlation between NFT Limited and iPower Inc is 0.08 (i.e., Significant diversification). The correlation of NFT 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.

NFT Correlation With Market

Average diversification

The correlation between NFT Limited and DJI is 0.1 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding NFT Limited and DJI in the same portfolio, assuming nothing else is changed.

Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in NFT 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 gross domestic product.

Moving together with NFT Stock

0.76	ENLV	Enlivex Therapeutics	Pair Corr
0.65	BAH	Booz Allen Hamilton	Pair Corr
0.68	S	SentinelOne	Pair Corr
0.9	U	Unity Software	Pair Corr
0.81	BL	Blackline	Pair Corr
0.71	BR	Broadridge Financial	Pair Corr
0.93	DM	Desktop Metal	Pair Corr
0.71	DQ	Daqo New Energy	Pair Corr
0.89	DT	Dynatrace Holdings LLC	Pair Corr
0.83	FI	Fiserv,	Pair Corr
0.64	GB	Global Blue Group	Pair Corr

Moving against NFT Stock

0.68	XTIA	XTI Aerospace, Earnings Call This Week	Pair Corr
0.5	NTRP	NextTrip Earnings Call This Week	Pair Corr
0.48	FRGE	Forge Global Holdings	Pair Corr
0.41	SLNH	Soluna Holdings	Pair Corr
0.37	MKDW	MKDWELL Tech Ordinary	Pair Corr
0.36	GRYP	Gryphon Digital Mining Earnings Call This Week	Pair Corr
0.34	BLMZ	BloomZ Ordinary Shares	Pair Corr
0.75	DV	DoubleVerify Holdings	Pair Corr
0.35	DIOD	Diodes Incorporated	Pair Corr

Related Correlations Analysis

	W	AKA	IPW	OCG	PIK	ZKH	HEPS	HOUR	JWEL
W		0.2	0.72	0.09	-0.41	0.19	-0.63	0.56	0.35	W
AKA	0.2		0.02	0.06	0.08	0.21	0.07	0.54	0.13	AKA
IPW	0.72	0.02		0.31	-0.18	0.46	-0.39	0.51	0.47	IPW
OCG	0.09	0.06	0.31		0.14	0.72	0.51	0.47	0.58	OCG
PIK	-0.41	0.08	-0.18	0.14		0.04	0.52	-0.09	-0.3	PIK
ZKH	0.19	0.21	0.46	0.72	0.04		0.41	0.58	0.59	ZKH
HEPS	-0.63	0.07	-0.39	0.51	0.52	0.41		-0.05	0.09	HEPS
HOUR	0.56	0.54	0.51	0.47	-0.09	0.58	-0.05		0.49	HOUR
JWEL	0.35	0.13	0.47	0.58	-0.3	0.59	0.09	0.49		JWEL
	W	AKA	IPW	OCG	PIK	ZKH	HEPS	HOUR	JWEL

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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

IPW	+ 0.72	W
ZKH	+ 0.72	OCG
JWEL	+ 0.59	ZKH
JWEL	+ 0.58	OCG
HOUR	+ 0.58	ZKH
HOUR	+ 0.56	W

High negative correlations

HEPS	- 0.63	W
PIK	- 0.41	W
HEPS	- 0.39	IPW
JWEL	- 0.3	PIK
PIK	- 0.18	IPW
HOUR	- 0.09	PIK

Risk-Adjusted Indicators

There is a big difference between NFT Stock performing well and NFT 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 NFT'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
W	3.01	(0.20)	(0.03)	0.03	3.76	(3.07)	7.05	(5.23)	19.53
AKA	5.46	0.60	0.14	0.38	5.89	(6.52)	14.10	(7.87)	39.74
IPW	5.60	0.25	0.01	4.42	6.38	(7.96)	13.81	(9.83)	36.96
OCG	5.07	0.52	0.09	0.76	5.08	(7.11)	10.29	(9.33)	46.58
PIK	3.49	(0.03)	(0.03)	0.10	4.76	(3.76)	9.28	(7.38)	26.45
ZKH	2.84	0.50	0.10	0.99	3.54	(3.06)	7.27	(5.29)	22.15
HEPS	3.64	0.50	0.12	1.10	3.12	(5.03)	5.91	(5.41)	65.78
HOUR	2.72	0.72	0.18	2.92	2.31	(3.47)	8.13	(4.51)	39.29
JWEL	6.27	1.34	0.14	(114.21)	6.39	(8.64)	20.59	(14.29)	66.01

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