MKDWELL Tech Correlations

MKDW Stock

0.84 0.02 2.33%

The current 90-days correlation between MKDWELL Tech Ordinary and Boston Beer is -0.07 (i.e., Good diversification). The correlation of MKDWELL Tech 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.

MKDWELL Tech Correlation With Market

Average diversification

The correlation between MKDWELL Tech Ordinary and DJI is 0.11 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding MKDWELL Tech Ordinary 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 MKDWELL Tech Ordinary. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in unemployment.

Moving against MKDWELL Stock

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0.52	FUBO	Fubotv Inc Buyout Trend	Pair Corr
0.52	GREEL	Greenidge Generation	Pair Corr
0.46	CXDO	Crexendo	Pair Corr
0.43	DGHI	Digihost Technology	Pair Corr
0.41	CLSK	CleanSpark Aggressive Push	Pair Corr
0.39	MARA	Marathon Digital Holdings Aggressive Push	Pair Corr
0.38	RIOT	Riot Blockchain Aggressive Push	Pair Corr
0.36	MFH	Mercurity Fintech Holding Trending	Pair Corr
0.31	ANY	Sphere 3D Corp	Pair Corr
0.31	S	SentinelOne	Pair Corr
0.45	FI	Fiserv,	Pair Corr
0.45	NN	Nextnav Acquisition Corp	Pair Corr
0.4	KD	Kyndryl Holdings	Pair Corr
0.38	AI	C3 Ai Inc Earnings Call This Week	Pair Corr
0.38	ML	MoneyLion	Pair Corr
0.36	DV	DoubleVerify Holdings	Pair Corr
0.32	BL	Blackline	Pair Corr

Related Correlations Analysis

	SAM	DEO	WEST	DPZ	STBGY	YUM	JAPAY	SG
SAM		-0.69	0.13	0.73	-0.41	0.28	-0.85	0.54	SAM
DEO	-0.69		-0.42	-0.57	0.71	-0.01	0.63	-0.34	DEO
WEST	0.13	-0.42		0.18	-0.5	0.04	-0.05	-0.16	WEST
DPZ	0.73	-0.57	0.18		-0.47	0.51	-0.46	0.71	DPZ
STBGY	-0.41	0.71	-0.5	-0.47		0.02	0.3	-0.13	STBGY
YUM	0.28	-0.01	0.04	0.51	0.02		0.12	0.21	YUM
JAPAY	-0.85	0.63	-0.05	-0.46	0.3	0.12		-0.5	JAPAY
SG	0.54	-0.34	-0.16	0.71	-0.13	0.21	-0.5		SG
	SAM	DEO	WEST	DPZ	STBGY	YUM	JAPAY	SG

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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

DPZ	+ 0.73	SAM
STBGY	+ 0.71	DEO
SG	+ 0.71	DPZ
JAPAY	+ 0.63	DEO
SG	+ 0.54	SAM
YUM	+ 0.51	DPZ

High negative correlations

JAPAY	- 0.85	SAM
DEO	- 0.69	SAM
DPZ	- 0.57	DEO
SG	- 0.5	JAPAY
STBGY	- 0.5	WEST
STBGY	- 0.47	DPZ

Risk-Adjusted Indicators

There is a big difference between MKDWELL Stock performing well and MKDWELL Tech 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 MKDWELL Tech'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
SAM	1.27	0.20	0.06	1.09	1.46	(1.27)	2.83	(2.35)	6.57
DEO	1.02	(0.20)	0.00	(0.29)	0.00	0.00	1.92	(2.30)	8.81
WEST	2.89	(0.25)	0.00	(0.04)	0.00	0.00	5.66	(6.23)	17.90
DPZ	1.17	0.08	0.07	0.20	1.17	(1.39)	3.26	(2.11)	7.92
STBGY	0.26	(0.10)	0.00	(0.46)	0.00	0.00	0.00	0.00	9.56
YUM	0.79	(0.03)	(0.10)	0.07	0.89	(0.85)	1.48	(1.64)	6.05
JAPAY	0.82	(0.07)	0.00	(0.24)	0.00	0.00	1.80	(1.55)	5.09
SG	3.09	0.16	0.09	0.21	2.95	(3.69)	6.33	(5.95)	15.89

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