Advent Technologies Correlations

ADNWW Stock

USD 0 0.0004 66.67%

The correlation of Advent Technologies 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.

Advent Technologies Correlation With Market

Average diversification

The correlation between Advent Technologies Holdings 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 Advent Technologies Holdings and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Advent Stock

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Advent Technologies Holdings. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in producer price index.

Moving together with Advent Stock

0.73	MX	MagnaChip Semiconductor	Pair Corr
0.69	GCTS	GCT Semiconductor Holding	Pair Corr
0.64	INDI	indie Semiconductor	Pair Corr
0.89	OLED	Universal Display	Pair Corr
0.7	UCTT	Ultra Clean Holdings	Pair Corr
0.93	JD	JD Inc Adr Aggressive Push	Pair Corr
0.85	MSFT	Microsoft	Pair Corr

Moving against Advent Stock

0.88	TSEM	Tower Semiconductor	Pair Corr
0.77	MU	Micron Technology Aggressive Push	Pair Corr
0.74	AMAT	Applied Materials	Pair Corr
0.74	VLKAF	Volkswagen AG	Pair Corr
0.73	AMKR	Amkor Technology	Pair Corr
0.65	LRCX	Lam Research Corp Aggressive Push	Pair Corr
0.59	ACN	Accenture plc	Pair Corr
0.58	WMT	Walmart Common Stock Aggressive Push	Pair Corr
0.44	AMZN	Amazon Inc	Pair Corr
0.42	UMC	United Microelectronics Sell-off Trend	Pair Corr
0.33	QCOM	Qualcomm Incorporated	Pair Corr
0.31	AVGO	Broadcom	Pair Corr
0.94	DD	Dupont De Nemours	Pair Corr
0.89	CSCO	Cisco Systems	Pair Corr
0.83	CAT	Caterpillar	Pair Corr
0.81	FTV	Fortive Corp	Pair Corr
0.8	XOM	Exxon Mobil Corp Aggressive Push	Pair Corr
0.78	JNJ	Johnson Johnson	Pair Corr
0.77	KO	Coca Cola	Pair Corr
0.75	ADAMI	New York Mortgage Symbol Change	Pair Corr
0.74	VWAGY	Volkswagen AG 110	Pair Corr
0.74	BAC	Bank of America	Pair Corr
0.71	TRV	The Travelers Companies	Pair Corr
0.64	AA	Alcoa Corp	Pair Corr
0.61	VLKPF	Volkswagen AG VZO	Pair Corr
0.58	MCD	McDonalds	Pair Corr
0.56	MMM	3M Company	Pair Corr

Related Correlations Analysis

	TPII	ARSC	GEECF	QSPW	ZHYLF	VCII	CGEI	PSPW	NCEN	FEWP
TPII		1.0	0.0	1.0	1.0	1.0	1.0	0.0	1.0	1.0	TPII
ARSC	1.0		0.0	1.0	1.0	1.0	1.0	0.0	1.0	1.0	ARSC
GEECF	0.0	0.0		0.0	0.0	0.0	0.0	-0.06	0.0	0.0	GEECF
QSPW	1.0	1.0	0.0		1.0	1.0	1.0	0.0	1.0	1.0	QSPW
ZHYLF	1.0	1.0	0.0	1.0		1.0	1.0	0.0	1.0	1.0	ZHYLF
VCII	1.0	1.0	0.0	1.0	1.0		1.0	0.0	1.0	1.0	VCII
CGEI	1.0	1.0	0.0	1.0	1.0	1.0		0.0	1.0	1.0	CGEI
PSPW	0.0	0.0	-0.06	0.0	0.0	0.0	0.0		0.0	0.0	PSPW
NCEN	1.0	1.0	0.0	1.0	1.0	1.0	1.0	0.0		1.0	NCEN
FEWP	1.0	1.0	0.0	1.0	1.0	1.0	1.0	0.0	1.0		FEWP
	TPII	ARSC	GEECF	QSPW	ZHYLF	VCII	CGEI	PSPW	NCEN	FEWP

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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

ARSC	+ 1.0	TPII
QSPW	+ 1.0	TPII
ZHYLF	+ 1.0	TPII
VCII	+ 1.0	TPII
CGEI	+ 1.0	TPII
NCEN	+ 1.0	TPII

High negative correlations

PSPW	- 0.06	GEECF
FEWP	- 0.0	PSPW
NCEN	- 0.0	PSPW
PSPW	- 0.0	CGEI
PSPW	- 0.0	VCII
PSPW	- 0.0	ZHYLF

Risk-Adjusted Indicators

There is a big difference between Advent Stock performing well and Advent Technologies 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 Advent Technologies' 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	Treynor Ratio	Maximum Drawdown
TPII	0.00	0.00	0.00	0.00
ARSC	0.00	0.00	0.00	0.00
GEECF	1.49	(0.77)	25.33	50.00
QSPW	0.00	0.00	0.00	0.00
ZHYLF	0.00	0.00	0.00	0.00
VCII	0.00	0.00	0.00	0.00
CGEI	0.00	0.00	0.00	0.00
PSPW	3.48	0.78	0.67	126.67
NCEN	0.00	0.00	0.00	0.00
FEWP	0.00	0.00	0.00	0.00

Advent Technologies Corporate Management

James JD	COO Counsel	Profile
George Paloumpis	Chief Officer	Profile
Emory Castro	Chief Director	Profile
Steven Rock	Chief Officer	Profile

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