Distoken Acquisition Correlations
| DIST Stock | 28.00 0.00 0.00% |
The current 90-days correlation between Distoken Acquisition and Flexible Solutions International is -0.05 (i.e., Good diversification). The correlation of Distoken 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.
Distoken Acquisition Correlation With Market
Average diversification
The correlation between Distoken Acquisition and DJI is 0.13 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Distoken Acquisition and DJI in the same portfolio, assuming nothing else is changed.
Moving together with Distoken Stock
| 0.85 | GS | Goldman Sachs Group | PairCorr |
| 0.74 | AXP | American Express | PairCorr |
| 0.81 | COF | Capital One Financial Earnings Call This Week | PairCorr |
| 0.84 | SCM | Stellus Capital Inve | PairCorr |
| 0.72 | GLAD | Gladstone Capital | PairCorr |
| 0.79 | HTGC | Hercules Capital | PairCorr |
| 0.83 | MAIN | Main Street Capital | PairCorr |
| 0.69 | PFLT | PennantPark Floating Rate | PairCorr |
| 0.83 | ALLY | Ally Financial | PairCorr |
| 0.73 | ARCC | Ares Capital | PairCorr |
| 0.67 | TPVG | Triplepoint Venture | PairCorr |
| 0.73 | TSLX | Sixth Street Specialty | PairCorr |
| 0.88 | CSWC | Capital Southwest | PairCorr |
| 0.83 | C | Citigroup Aggressive Push | PairCorr |
| 0.77 | L | Loews Corp | PairCorr |
| 0.77 | DHIL | Diamond Hill Investment | PairCorr |
| 0.83 | AX | Axos Financial | PairCorr |
| 0.61 | BK | Bank of New York | PairCorr |
| 0.74 | BN | Brookfield Corp | PairCorr |
| 0.8 | BX | Blackstone Group Normal Trading | PairCorr |
| 0.66 | BY | Byline Bancorp Earnings Call This Week | PairCorr |
| 0.82 | CG | Carlyle Group Earnings Call This Week | PairCorr |
| 0.76 | CM | Canadian Imperial Bank | PairCorr |
| 0.71 | DB | Deutsche Bank AG Earnings Call This Week | PairCorr |
| 0.77 | IX | Orix Corp Ads | PairCorr |
Moving against Distoken Stock
| 0.33 | PSEC | Prospect Capital | PairCorr |
| 0.5 | CB | Chubb Earnings Call This Week | PairCorr |
| 0.48 | EG | Everest Group | PairCorr |
| 0.45 | LX | Lexinfintech Holdings | PairCorr |
| 0.39 | FG | FG Annuities Life | PairCorr |
Related Correlations Analysis
| 0.76 | 0.7 | 0.72 | 0.83 | 0.67 | GFF | ||
| 0.76 | 0.73 | 0.83 | 0.79 | 0.84 | FIGS | ||
| 0.7 | 0.73 | 0.77 | 0.76 | 0.9 | GIL | ||
| 0.72 | 0.83 | 0.77 | 0.78 | 0.86 | GES | ||
| 0.83 | 0.79 | 0.76 | 0.78 | 0.75 | FSI | ||
| 0.67 | 0.84 | 0.9 | 0.86 | 0.75 | HDSN | ||
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Risk-Adjusted Indicators
There is a big difference between Distoken Stock performing well and Distoken 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 Distoken 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| GFF | 1.53 | 0.20 | 0.01 | (0.47) | 1.86 | 3.12 | 10.17 | |||
| FIGS | 2.22 | 0.39 | 0.15 | 0.46 | 1.95 | 5.98 | 18.66 | |||
| GIL | 1.28 | 0.24 | 0.17 | 0.37 | 1.06 | 3.27 | 10.73 | |||
| GES | 2.54 | 0.24 | 0.12 | 0.29 | 2.27 | 5.82 | 23.04 | |||
| FSI | 2.39 | 0.54 | 0.16 | 1.10 | 2.38 | 9.09 | 20.69 | |||
| HDSN | 2.25 | 0.38 | 0.23 | 0.37 | 1.65 | 8.29 | 20.60 |
Distoken Acquisition Related Equities
One of the popular trading techniques among algorithmic traders is to use market-neutral strategies where every trade hedges away some risk. Because there are two separate transactions required, even if one position performs unexpectedly, the other equity can make up some of the losses. Below are some of the equities that can be combined with Distoken Acquisition stock to make a market-neutral strategy. Peer analysis of Distoken Acquisition could also be used in its relative valuation, which is a method of valuing Distoken Acquisition by comparing valuation metrics with similar companies.
| Risk & Return | Correlation |