Cemtrex Pref Correlations

Summary

CETXPDelisted Preferred Stock

USD 0.85 0.09 11.84%

The current 90-days correlation between Cemtrex Pref and Alarum Technologies is -0.09 (i.e., Good diversification). The correlation of Cemtrex Pref 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. If the correlation is 0, the equities are not correlated; they are entirely random.

Cemtrex Pref Correlation With Market

Good diversification

The correlation between Cemtrex Pref and DJI is -0.02 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Cemtrex Pref and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to Cemtrex Pref could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Cemtrex Pref 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 Cemtrex Pref - 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 Cemtrex Pref to buy it.

Moving together with Cemtrex Preferred Stock

0.77	S	SentinelOne	Pair Corr
0.81	NN	Nextnav Acquisition Corp	Pair Corr
0.71	SQ	Block Inc Sell-off Trend	Pair Corr
0.65	DTSS	Datasea	Pair Corr
0.81	FFIV	F5 Networks	Pair Corr
0.71	FOUR	Shift4 Payments	Pair Corr
0.76	DBX	Dropbox	Pair Corr
0.69	GEN	Gen Digital Sell-off Trend	Pair Corr
0.64	FTNT	Fortinet	Pair Corr
0.66	IOT	Samsara	Pair Corr
0.67	NET	Cloudflare	Pair Corr
0.63	XNET	Xunlei Ltd Adr	Pair Corr
0.61	ODD	ODDITY Tech	Pair Corr

Moving against Cemtrex Preferred Stock

0.74	VRAR	Glimpse Group	Pair Corr
0.7	VRNT	Verint Systems Earnings Call This Week	Pair Corr
0.53	FAAS	DigiAsia Corp Symbol Change	Pair Corr
0.36	MQ	Marqeta	Pair Corr
0.32	VRNS	Varonis Systems	Pair Corr
0.77	VHC	VirnetX Holding Corp	Pair Corr
0.77	ZPTAW	Zapata Computing Holdings	Pair Corr
0.73	TCX	Tucows Inc	Pair Corr
0.44	WEX	Wex Inc	Pair Corr

Related Correlations Analysis

	ALAR	BLIN	NXTP	AUID	EVCM	IMXI	EVTC	ESMT	NTCT	TAOP
ALAR		-0.16	-0.09	0.12	0.41	0.21	0.11	0.23	0.4	-0.5	ALAR
BLIN	-0.16		-0.67	-0.49	0.03	0.04	-0.02	0.33	0.09	0.17	BLIN
NXTP	-0.09	-0.67		0.63	-0.06	0.03	-0.01	-0.48	-0.3	-0.15	NXTP
AUID	0.12	-0.49	0.63		-0.09	-0.22	-0.27	-0.59	-0.33	-0.12	AUID
EVCM	0.41	0.03	-0.06	-0.09		0.86	0.77	0.37	0.67	-0.68	EVCM
IMXI	0.21	0.04	0.03	-0.22	0.86		0.82	0.32	0.56	-0.59	IMXI
EVTC	0.11	-0.02	-0.01	-0.27	0.77	0.82		0.37	0.59	-0.34	EVTC
ESMT	0.23	0.33	-0.48	-0.59	0.37	0.32	0.37		0.64	-0.21	ESMT
NTCT	0.4	0.09	-0.3	-0.33	0.67	0.56	0.59	0.64		-0.32	NTCT
TAOP	-0.5	0.17	-0.15	-0.12	-0.68	-0.59	-0.34	-0.21	-0.32		TAOP
	ALAR	BLIN	NXTP	AUID	EVCM	IMXI	EVTC	ESMT	NTCT	TAOP

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

Please upgrade your account to get full access to Macroaxis premium features

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

IMXI	+ 0.86	EVCM
EVTC	+ 0.82	IMXI
EVTC	+ 0.77	EVCM
NTCT	+ 0.67	EVCM
NTCT	+ 0.64	ESMT
AUID	+ 0.63	NXTP

High negative correlations

TAOP	- 0.68	EVCM
NXTP	- 0.67	BLIN
TAOP	- 0.59	IMXI
ESMT	- 0.59	AUID
TAOP	- 0.5	ALAR
AUID	- 0.49	BLIN

Risk-Adjusted Indicators

There is a big difference between Cemtrex Preferred Stock performing well and Cemtrex Pref 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 Cemtrex Pref'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
ALAR	5.89	(0.09)	0.00	0.08	5.89	(7.94)	14.37	(9.94)	48.00
BLIN	2.13	0.53	0.13	(0.71)	2.16	(2.73)	5.50	(3.54)	18.09
NXTP	4.97	(0.51)	0.00	0.80	0.00	0.00	8.74	(10.00)	28.18
AUID	3.65	(0.59)	0.00	(0.32)	0.00	0.00	8.74	(8.74)	29.47
EVCM	1.35	0.22	0.07	1.16	1.66	(1.56)	3.46	(2.45)	13.03
IMXI	1.34	0.13	0.09	0.25	1.29	(1.64)	2.74	(1.76)	13.65
EVTC	1.22	(0.02)	(0.01)	0.10	1.57	(1.25)	2.43	(2.66)	7.67
ESMT	1.57	0.17	(0.01)	(0.22)	1.90	(1.59)	3.90	(2.93)	9.34
NTCT	1.45	(0.15)	(0.02)	0.04	1.79	(1.50)	3.23	(2.84)	10.35
TAOP	5.07	(0.67)	0.00	(0.47)	0.00	0.00	12.50	(8.97)	43.55

View Cemtrex Pref Related Equities

Alarum Technologies Bridgeline Digital Nextplay Technologies authID Inc EverCommerce International Money Express Evertec EngageSmart LLC NetScout Systems Taoping Cerberus Cyber Sentinel CiT Inc Zenvia Inc AvidXchange Holdings LiveVox Holdings

Risk & Return

Correlation

Cemtrex Pref Corporate Management

Paul Wyckoff	Interim Controller	Profile
Gaurav Taywade	Chief Studio	Profile
Bret McGowan	SVP Industries	Profile
Ashwin Gobindram	Chief Operations	Profile
Haim Shain	VP Management	Profile
Lucky Gobindram	Ex Marketing	Profile

Still Interested in Cemtrex Pref?

Investing in delisted delisted preferred stocks can be risky, as the preferred stock is no longer traded on a public exchange and can therefore be difficult to sell. Delisting typically occurs when a company has failed to meet exchange requirements or has been acquired. Before investing, it's important to thoroughly research the company, including its financial health and prospects for the future, as well as the reasons for its delisting. Additionally, it may be difficult to find accurate and up-to-date information on the company and its stock.

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2024 Macroaxis LLC