SmartRent Correlations

SMRT Stock

USD 1.77 0.19 9.69%

The current 90-days correlation between SmartRent and Enfusion is 0.07 (i.e., Significant diversification). The correlation of SmartRent 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.

SmartRent Correlation With Market

Average diversification

The correlation between SmartRent and DJI is 0.14 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding SmartRent and DJI in the same portfolio, assuming nothing else is changed.

Check out World Market Map to better understand how to build diversified portfolios, which includes a position in SmartRent. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in metropolitan statistical area.

For more information on how to buy SmartRent Stock please use our How to Invest in SmartRent guide.

Moving against SmartRent Stock

0.58	DTRK	DATATRAK International	Pair Corr
0.46	ML	MoneyLion	Pair Corr
0.42	DJCO	Daily Journal Corp	Pair Corr
0.4	DOCU	DocuSign Earnings Call This Week	Pair Corr
0.39	DV	DoubleVerify Holdings	Pair Corr
0.39	ZM	Zoom Video Communications	Pair Corr
0.39	VERX	Vertex	Pair Corr
0.38	WK	Workiva	Pair Corr
0.37	EB	Eventbrite Class A	Pair Corr
0.35	AZ	A2Z Smart Technologies	Pair Corr
0.35	DOMO	Domo Inc	Pair Corr
0.35	DSGX	Descartes Systems Earnings Call Today	Pair Corr
0.31	KC	Kingsoft Cloud Holdings Tech Boost	Pair Corr
0.48	WDAY	Workday	Pair Corr
0.46	VMEO	Vimeo Inc	Pair Corr
0.39	EGHT	8x8 Common Stock	Pair Corr
0.33	DIDIY	Didi Global ADR	Pair Corr

Related Correlations Analysis

	ENFN	ETWO	ENV	MNTV	HKIT	MODN	ONTF	PYCR	PWSC	CWAN
ENFN		-0.57	0.37	0.47	-0.69	0.68	0.57	0.7	0.83	0.83	ENFN
ETWO	-0.57		-0.41	-0.38	0.6	-0.54	-0.44	-0.57	-0.88	-0.69	ETWO
ENV	0.37	-0.41		-0.08	-0.37	-0.05	0.55	0.76	0.49	0.65	ENV
MNTV	0.47	-0.38	-0.08		-0.52	0.63	-0.06	0.21	0.53	0.33	MNTV
HKIT	-0.69	0.6	-0.37	-0.52		-0.55	-0.38	-0.62	-0.76	-0.7	HKIT
MODN	0.68	-0.54	-0.05	0.63	-0.55		0.32	0.33	0.66	0.51	MODN
ONTF	0.57	-0.44	0.55	-0.06	-0.38	0.32		0.7	0.55	0.74	ONTF
PYCR	0.7	-0.57	0.76	0.21	-0.62	0.33	0.7		0.79	0.91	PYCR
PWSC	0.83	-0.88	0.49	0.53	-0.76	0.66	0.55	0.79		0.88	PWSC
CWAN	0.83	-0.69	0.65	0.33	-0.7	0.51	0.74	0.91	0.88		CWAN
	ENFN	ETWO	ENV	MNTV	HKIT	MODN	ONTF	PYCR	PWSC	CWAN

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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

CWAN	+ 0.91	PYCR
CWAN	+ 0.88	PWSC
PWSC	+ 0.83	ENFN
CWAN	+ 0.83	ENFN
PWSC	+ 0.79	PYCR
PYCR	+ 0.76	ENV

High negative correlations

PWSC	- 0.88	ETWO
PWSC	- 0.76	HKIT
CWAN	- 0.7	HKIT
CWAN	- 0.69	ETWO
HKIT	- 0.69	ENFN
PYCR	- 0.62	HKIT

Risk-Adjusted Indicators

There is a big difference between SmartRent Stock performing well and SmartRent 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 SmartRent'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
ENFN	1.60	0.19	0.12	0.30	1.49	(1.95)	3.93	(2.90)	10.11
ETWO	2.30	(0.75)	0.00	(0.20)	0.00	0.00	3.33	(5.33)	24.64
ENV	0.09	0.00	(0.89)	0.29	0.09	(0.10)	0.22	(0.22)	0.68
MNTV	0.90	0.48	1.96	5.15	0.00	(1.77)	0.43	(0.21)	20.63
HKIT	2.59	(0.26)	0.00	1.37	0.00	0.00	6.67	(5.85)	21.26
MODN	0.50	0.13	0.04	0.70	0.29	(0.69)	1.01	(0.50)	10.58
ONTF	1.64	(0.12)	(0.02)	0.06	1.95	(1.80)	3.04	(3.03)	11.36
PYCR	1.49	0.20	0.13	0.28	1.40	(1.63)	3.12	(2.96)	9.64
PWSC	0.08	0.02	(0.79)	(1.64)	0.00	(0.11)	0.18	(0.13)	0.71
CWAN	1.46	0.22	0.14	0.30	1.42	(1.56)	2.80	(2.78)	18.70

SmartRent Corporate Management

Mitchell Karren	EVP Development	Profile
Natalie Cariola	Chief Officer	Profile
Wyron Bobis	Executive Operations	Profile
Isaiah DeroseWilson	CoFounder CTO	Profile
Brian Ruttenbur	Senior Relations	Profile
Michael Mcdonald	VP Treasurer	Profile
Evelyn Infurna	VP Relations	Profile

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