Phunware Correlations

Phunware Correlation With Market

Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in Phunware. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in employment. To learn how to invest in Phunware Stock, please use our How to Invest in Phunware guide.

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    FRGT + 0.88 CXAI SOUN + 0.77 HTCR BRQS + 0.74 BMR IDAI + 0.71 CXAI FRGT + 0.7 IDAI BRQS + 0.62 CXAI

High negative correlations    CXAI - 0.73 HTCR XELA - 0.71 SOUN FRGT - 0.7 HTCR BMR - 0.7 HTCR BRQS - 0.69 HTCR BRQS - 0.67 SOUN

Risk-Adjusted Indicators

There is a big difference between Phunware Stock performing well and Phunware 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 Phunware'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.