Andretti Acquisition Correlations

POLEW Stock

0.16 0.03 23.08%

The correlation of Andretti 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.

Andretti Acquisition Correlation With Market

Good diversification

The correlation between Andretti Acquisition Corp and DJI is -0.12 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Andretti 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 Andretti 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 income.

Moving against Andretti Stock

0.63	TETEU	Technology Telecommunicatio	Pair Corr
0.56	DTSQ	DT Cloud Star	Pair Corr
0.53	DSAQ	Direct Selling Acqui	Pair Corr
0.48	DIST	Distoken Acquisition	Pair Corr
0.45	NOVVU	Nova Vision Acquisition	Pair Corr
0.43	VHAQ	Viveon Health Acquisition	Pair Corr
0.42	DYCQ	DT Cloud Acquisition	Pair Corr
0.37	YHNAU	YHN Acquisition I	Pair Corr
0.34	VACH	Voyager Acquisition Corp	Pair Corr
0.67	FRLAU	Fortune Rise Acquisition	Pair Corr
0.59	OCAXW	OCA Acquisition Corp	Pair Corr
0.55	EMCG	Embrace Change Acqui	Pair Corr
0.53	WAVSU	Western Acquisition	Pair Corr
0.52	EURK	Eureka Acquisition Corp	Pair Corr
0.47	OCAXU	OCA Acquisition Corp	Pair Corr
0.42	BAYAR	Bayview Acquisition Corp	Pair Corr
0.4	ESHA	ESH Acquisition Corp	Pair Corr
0.33	ANSCW	Agriculture Natural	Pair Corr
0.32	EVGR	Evergreen Corp	Pair Corr

Related Correlations Analysis

	FSLUF	WDC	BNL	CHCI	VALN	PSFE	RDCM	BKH
FSLUF		0.0	0.0	0.0	0.0	0.0	0.0	0.0	FSLUF
WDC	0.0		-0.09	-0.12	-0.32	0.05	0.32	0.33	WDC
BNL	0.0	-0.09		0.49	0.84	0.71	-0.78	-0.48	BNL
CHCI	0.0	-0.12	0.49		0.59	0.41	-0.47	-0.58	CHCI
VALN	0.0	-0.32	0.84	0.59		0.7	-0.92	-0.69	VALN
PSFE	0.0	0.05	0.71	0.41	0.7		-0.72	-0.54	PSFE
RDCM	0.0	0.32	-0.78	-0.47	-0.92	-0.72		0.66	RDCM
BKH	0.0	0.33	-0.48	-0.58	-0.69	-0.54	0.66		BKH
	FSLUF	WDC	BNL	CHCI	VALN	PSFE	RDCM	BKH

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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

VALN	+ 0.84	BNL
PSFE	+ 0.71	BNL
PSFE	+ 0.7	VALN
BKH	+ 0.66	RDCM
VALN	+ 0.59	CHCI
CHCI	+ 0.49	BNL

High negative correlations

RDCM	- 0.92	VALN
RDCM	- 0.78	BNL
RDCM	- 0.72	PSFE
BKH	- 0.69	VALN
BKH	- 0.58	CHCI
BKH	- 0.54	PSFE

Risk-Adjusted Indicators

There is a big difference between Andretti Stock performing well and Andretti 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 Andretti 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
FSLUF	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
WDC	1.73	(0.05)	(0.01)	0.02	2.04	(1.88)	4.61	(2.71)	12.35
BNL	0.71	(0.14)	0.00	(0.86)	0.00	0.00	1.20	(1.71)	5.03
CHCI	3.85	0.02	(0.01)	0.02	4.82	(3.85)	9.41	(7.61)	22.60
VALN	2.16	(0.79)	0.00	(3.78)	0.00	0.00	3.60	(5.86)	11.78
PSFE	2.10	(0.38)	0.00	(0.16)	0.00	0.00	5.20	(3.25)	31.72
RDCM	2.52	0.37	0.09	0.63	3.68	(2.54)	5.40	(5.39)	21.11
BKH	0.83	(0.06)	0.00	(0.02)	0.00	0.00	2.11	(1.65)	4.60

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