Plum Acquisition Correlations

PLMJW Stock

0.20 0.02 11.11%

The current 90-days correlation between Plum Acquisition Corp and Mesa Air Group is -0.11 (i.e., Good diversification). The correlation of Plum Acquisition 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.

Plum Acquisition Correlation With Market

Significant diversification

The correlation between Plum Acquisition Corp 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 Plum Acquisition Corp and DJI in the same portfolio, assuming nothing else is changed.

Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in Plum Acquisition Corp. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in inflation.

Moving together with Plum Stock

0.61	IMAQU	International Media	Pair Corr
0.7	GAQ	Generation Asia I	Pair Corr

Moving against Plum Stock

0.56	FRLAU	Fortune Rise Acquisition	Pair Corr
0.54	OCAXU	OCA Acquisition Corp	Pair Corr
0.53	OCAXW	OCA Acquisition Corp	Pair Corr
0.48	VHAQ	Viveon Health Acquisition Earnings Call This Week	Pair Corr
0.45	BAYAR	Bayview Acquisition Corp	Pair Corr
0.44	DTSQ	DT Cloud Star	Pair Corr
0.42	DSAQ	Direct Selling Acqui	Pair Corr
0.41	NOVVU	Nova Vision Acquisition	Pair Corr
0.39	YHNAU	YHN Acquisition I	Pair Corr
0.39	EURK	Eureka Acquisition Corp	Pair Corr
0.58	GMFI	Aetherium Acquisition	Pair Corr
0.48	FRLA	Fortune Rise Acquisition	Pair Corr
0.39	AAM	AA Mission Acquisition	Pair Corr
0.37	HHGC	HHG Capital Corp	Pair Corr
0.35	BCSAU	Blockchain Coinvestors	Pair Corr
0.35	GHIXU	Gores Holdings IX	Pair Corr
0.34	GHIX	Gores Holdings IX	Pair Corr
0.32	EQV	EQV Ventures Acquisition	Pair Corr
0.32	FSHPU	Flag Ship Acquisition	Pair Corr

Related Correlations Analysis

	MESA	WAB	UVV	TAP	AL	TPB	DINO
MESA		-0.4	-0.05	-0.3	-0.18	-0.31	0.2	MESA
WAB	-0.4		0.78	0.81	0.82	0.86	-0.53	WAB
UVV	-0.05	0.78		0.86	0.93	0.92	-0.53	UVV
TAP	-0.3	0.81	0.86		0.91	0.91	-0.48	TAP
AL	-0.18	0.82	0.93	0.91		0.93	-0.55	AL
TPB	-0.31	0.86	0.92	0.91	0.93		-0.67	TPB
DINO	0.2	-0.53	-0.53	-0.48	-0.55	-0.67		DINO
	MESA	WAB	UVV	TAP	AL	TPB	DINO

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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

AL	+ 0.93	UVV
TPB	+ 0.93	AL
TPB	+ 0.92	UVV
AL	+ 0.91	TAP
TPB	+ 0.91	TAP
TPB	+ 0.86	WAB

High negative correlations

DINO	- 0.67	TPB
DINO	- 0.55	AL
DINO	- 0.53	UVV
DINO	- 0.53	WAB
DINO	- 0.48	TAP
WAB	- 0.4	MESA

Risk-Adjusted Indicators

There is a big difference between Plum Stock performing well and Plum Acquisition 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 Plum Acquisition'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
MESA	3.03	(0.06)	0.00	(0.04)	0.00	0.00	6.19	(6.50)	23.34
WAB	0.83	0.09	0.08	0.10	0.91	(0.95)	1.85	(1.25)	7.99
UVV	1.04	0.05	0.04	0.09	1.20	(1.09)	2.44	(2.17)	5.64
TAP	0.96	0.10	0.08	0.18	1.00	(1.05)	2.69	(1.82)	7.40
AL	1.21	0.11	0.07	1.44	1.17	(1.54)	2.99	(2.11)	9.04
TPB	1.61	0.52	0.33	0.63	1.11	(1.93)	4.39	(2.46)	8.56
DINO	1.55	(0.50)	0.00	(0.43)	0.00	0.00	2.16	(4.84)	11.79

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