NVIDIA Correlations
| NVDA Stock | USD 860.01 21.85 2.48% |
The correlation of NVIDIA 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 NVIDIA moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if NVIDIA 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.
Weak diversification
The correlation between NVIDIA and NYA is 0.34 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding NVIDIA and NYA in the same portfolio, assuming nothing else is changed.
NVIDIA |
The ability to find closely correlated positions to NVIDIA could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace NVIDIA 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 NVIDIA - 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 NVIDIA to buy it.
Moving together with NVIDIA Stock
| 0.79 | VECO | Veeco Instruments Financial Report 13th of May 2024 | PairCorr |
| 0.87 | TRT | Trio Tech International | PairCorr |
| 0.93 | LRCX | Lam Research Corp Report 17th of April 2024 | PairCorr |
| 0.82 | ACMR | Acm Research Financial Report 3rd of May 2024 | PairCorr |
| 0.89 | ASML | ASML Holding NV Earnings Call Tomorrow | PairCorr |
| 0.73 | BHE | Benchmark Electronics Financial Report 1st of May 2024 | PairCorr |
| 0.97 | CLS | Celestica Financial Report 24th of April 2024 | PairCorr |
| 0.77 | CTS | CTS Corporation Financial Report 25th of April 2024 | PairCorr |
| 0.82 | IBM | International Business Report 17th of April 2024 | PairCorr |
Moving against NVIDIA Stock
| 0.82 | III | Information Services Financial Report 13th of May 2024 | PairCorr |
| 0.79 | MEI | Methode Electronics Financial Report 27th of June 2024 | PairCorr |
| 0.73 | ACLS | Axcelis Technologies Financial Report 1st of May 2024 | PairCorr |
| 0.57 | INTC | Intel Report 25th of April 2024 | PairCorr |
| 0.52 | CAN | Canaan Inc Financial Report 24th of May 2024 | PairCorr |
| 0.48 | MDB | MongoDB Financial Report 6th of June 2024 | PairCorr |
| 0.41 | S | SentinelOne Financial Report 6th of June 2024 | PairCorr |
Related Correlations Analysis
Please specify at least 3 valid symbols having historical data to build a meaningful correlation cloud. You can use symbol search above to locate your securities.
Be your own money manager
Our tools can tell you how much better you can do entering a position in NVIDIA 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 Equity Search Now
Equity SearchSearch for actively traded equities including funds and ETFs from over 30 global markets |
| All Next | Launch Module |
NVIDIA Corporate Directors
NVIDIA corporate directors refer to members of a NVIDIA board of directors. The board of directors generally takes responsibility for the NVIDIA's 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 NVIDIA's board members must vote for the resolution. The NVIDIA board of directors' duties also include the election, removal, and supervision of officers, including the adoption, amendment, and repeal of bylaws.| Harvey Jones | Independent Director | Profile | |
| Dawn Beach | Independent Director | Profile | |
| Mark Perry | Independent Director | Profile | |
| Tench Coxe | Independent Director | Profile |
Already Invested in NVIDIA?
The danger of trading NVIDIA 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 NVIDIA 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 NVIDIA. The Sharpe ratio is calculated by using standard deviation and excess return to determine reward per unit of risk. To understand how volatile NVIDIA 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 NVIDIA offers a strong return on investment in its stock, a comprehensive analysis is essential. The process typically begins with a thorough review of NVIDIA's financial statements, including income statements, balance sheets, and cash flow statements, to assess its financial health. Key financial ratios are used to gauge profitability, efficiency, and growth potential of Nvidia Stock. Outlined below are crucial reports that will aid in making a well-informed decision on Nvidia Stock: Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in NVIDIA. Also, note that the market value of any company could be tightly coupled with the direction of predictive economic indicators such as signals in unemployment. For information on how to trade NVIDIA Stock refer to our How to Trade NVIDIA Stock guide.Note that the NVIDIA information on this page should be used as a complementary analysis to other NVIDIA's statistical models used to find the right mix of equity instruments to add to your existing portfolios or create a brand new portfolio. You can also try the Global Correlations module to find global opportunities by holding instruments from different markets.
Complementary Tools for NVIDIA Stock analysis
When running NVIDIA's price analysis, check to measure NVIDIA'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 NVIDIA is operating at the current time. Most of NVIDIA's value examination focuses on studying past and present price action to predict the probability of NVIDIA's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move NVIDIA's price. Additionally, you may evaluate how the addition of NVIDIA to your portfolios can decrease your overall portfolio volatility.
| Portfolio Rebalancing Analyze risk-adjusted returns against different time horizons to find asset-allocation targets | |
| USA ETFs Find actively traded Exchange Traded Funds (ETF) in USA | |
| Fundamentals Comparison Compare fundamentals across multiple equities to find investing opportunities | |
| Portfolio Backtesting Avoid under-diversification and over-optimization by backtesting your portfolios | |
| Bollinger Bands Use Bollinger Bands indicator to analyze target price for a given investing horizon | |
| Balance Of Power Check stock momentum by analyzing Balance Of Power indicator and other technical ratios | |
| AI Portfolio Architect Use AI to generate optimal portfolios and find profitable investment opportunities | |
| Analyst Advice Analyst recommendations and target price estimates broken down by several categories | |
| Global Correlations Find global opportunities by holding instruments from different markets | |
| Money Flow Index Determine momentum by analyzing Money Flow Index and other technical indicators |
Is NVIDIA'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 NVIDIA. If investors know NVIDIA 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 NVIDIA 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 7.613 | Dividend Share 0.16 | Earnings Share 11.95 | Revenue Per Share 24.675 | Quarterly Revenue Growth 2.653 |
The market value of NVIDIA is measured differently than its book value, which is the value of NVIDIA that is recorded on the company's balance sheet. Investors also form their own opinion of NVIDIA's value that differs from its market value or its book value, called intrinsic value, which is NVIDIA'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 NVIDIA's market value can be influenced by many factors that don't directly affect NVIDIA'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 NVIDIA's value and its price as these two are different measures arrived at by different means. Investors typically determine if NVIDIA is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, NVIDIA'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.