FutureTech Correlations

FTIIW Stock

USD 0.03 0.01 62.29%

The current 90-days correlation between FutureTech II Acquisition and GSR II Meteora is -0.1 (i.e., Good diversification). The correlation of FutureTech 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.

FutureTech Correlation With Market

Significant diversification

The correlation between FutureTech II Acquisition and DJI is 0.04 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding FutureTech II Acquisition and DJI in the same portfolio, assuming nothing else is changed.

Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in FutureTech II Acquisition. 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 against FutureTech Stock

0.65	WAVS	Western Acquisition	Pair Corr
0.47	TW	Tradeweb Markets	Pair Corr
0.34	DB	Deutsche Bank AG	Pair Corr
0.37	CACC	Credit Acceptance	Pair Corr

Related Correlations Analysis

	GSRMW	GENQW	GDNRW	HCMAW
GSRMW		0.24	-0.46	-0.01	GSRMW
GENQW	0.24		-0.43	0.3	GENQW
GDNRW	-0.46	-0.43		0.2	GDNRW
HCMAW	-0.01	0.3	0.2		HCMAW
	GSRMW	GENQW	GDNRW	HCMAW

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

HCMAW	+ 0.3	GENQW
GENQW	+ 0.24	GSRMW
HCMAW	+ 0.2	GDNRW

High negative correlations

GDNRW	- 0.46	GSRMW
GDNRW	- 0.43	GENQW
HCMAW	- 0.01	GSRMW

Risk-Adjusted Indicators

There is a big difference between FutureTech Stock performing well and FutureTech 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 FutureTech'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
GSRMW	11.09	2.74	0.18	(0.70)	10.54	(13.28)	32.71	(19.05)	84.90
GENQW	5.93	1.51	0.15	(1.97)	5.57	(9.91)	18.52	(15.62)	70.96
GDNRW	17.21	2.39	0.10	(7.92)	17.15	(24.16)	46.24	(30.44)	167.53
HCMAW	32.51	7.21	0.25	0.95	25.42	(45.74)	104.12	(47.03)	254.05

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