Eastside Distilling Correlations

BLNE Stock

3.31 0.01 0.30%

The current 90-days correlation between Eastside Distilling and Ihuman Inc is -0.13 (i.e., Good diversification). The correlation of Eastside Distilling 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.

Eastside Distilling Correlation With Market

Weak diversification

The correlation between Eastside Distilling and DJI is 0.34 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Eastside Distilling and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Eastside Stock

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Eastside Distilling. 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.

For information on how to trade Eastside Stock refer to our How to Trade Eastside Stock guide.

Moving against Eastside Stock

0.49	603919	Jinhui Liquor	Pair Corr
0.46	000596	Anhui Gujing Distillery	Pair Corr
0.45	600809	Shanxi Xinghuacun Fen	Pair Corr
0.43	600702	Sichuan Tuopai Shede	Pair Corr
0.37	000858	Wuliangye Yibin	Pair Corr
0.36	CSW-A	Corby Spirit	Pair Corr
0.67	600519	Kweichow Moutai	Pair Corr
0.41	603198	Anhui Yingjia Distillery	Pair Corr
0.41	PBCRY	Bank Central Asia	Pair Corr
0.37	600365	Tonghua Grape Wine	Pair Corr
0.35	000568	Luzhou Lao Jiao	Pair Corr

Related Correlations Analysis

	JZ	IH	BTOG	UG	BTCT	COOT	AMZE	WVVI	FARM	JVA
JZ		0.85	0.94	0.28	0.84	0.73	0.51	0.35	0.31	0.26	JZ
IH	0.85		0.83	0.02	0.63	0.65	0.26	-0.02	0.2	0.13	IH
BTOG	0.94	0.83		0.32	0.88	0.77	0.54	0.39	0.35	0.36	BTOG
UG	0.28	0.02	0.32		0.61	0.67	0.88	0.69	0.77	0.84	UG
BTCT	0.84	0.63	0.88	0.61		0.84	0.79	0.58	0.62	0.55	BTCT
COOT	0.73	0.65	0.77	0.67	0.84		0.77	0.39	0.59	0.67	COOT
AMZE	0.51	0.26	0.54	0.88	0.79	0.77		0.74	0.76	0.8	AMZE
WVVI	0.35	-0.02	0.39	0.69	0.58	0.39	0.74		0.49	0.64	WVVI
FARM	0.31	0.2	0.35	0.77	0.62	0.59	0.76	0.49		0.59	FARM
JVA	0.26	0.13	0.36	0.84	0.55	0.67	0.8	0.64	0.59		JVA
	JZ	IH	BTOG	UG	BTCT	COOT	AMZE	WVVI	FARM	JVA

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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

BTOG	+ 0.94	JZ
BTCT	+ 0.88	BTOG
AMZE	+ 0.88	UG
IH	+ 0.85	JZ
BTCT	+ 0.84	JZ
JVA	+ 0.84	UG

High negative correlations

WVVI

- 0.02

Risk-Adjusted Indicators

There is a big difference between Eastside Stock performing well and Eastside Distilling 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 Eastside Distilling'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
JZ	2.76	(1.22)	0.00	1.81	0.00	0.00	2.08	(8.59)	34.43
IH	2.13	(0.51)	0.00	0.45	0.00	0.00	5.19	(5.26)	13.22
BTOG	5.21	(2.47)	0.00	(1.42)	0.00	0.00	8.29	(11.71)	52.92
UG	1.32	(0.23)	0.00	(0.67)	0.00	0.00	2.47	(3.49)	10.23
BTCT	4.04	(0.75)	0.00	(0.26)	0.00	0.00	7.39	(7.44)	31.86
COOT	4.91	(1.19)	0.00	(0.93)	0.00	0.00	8.40	(10.53)	34.28
AMZE	8.02	(1.10)	0.00	(0.15)	0.00	0.00	20.00	(16.67)	52.45
WVVI	2.73	(0.34)	0.00	0.48	0.00	0.00	5.81	(7.09)	22.81
FARM	1.99	(0.03)	(0.01)	0.03	3.40	(2.03)	4.05	(3.90)	18.04
JVA	2.12	(0.12)	0.00	(0.55)	0.00	0.00	5.54	(4.41)	16.33

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