Distoken Acquisition Correlations

DISTR Stock

0.30 0.00 0.00%

The current 90-days correlation between Distoken Acquisition and Albertsons Companies is 0.05 (i.e., Significant 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

Good diversification

The correlation between Distoken Acquisition and DJI is -0.06 (i.e., Good 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.

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Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in Distoken Acquisition. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in estimate.

To learn how to invest in Distoken Stock, please use our How to Invest in Distoken Acquisition guide.

Moving together with Distoken Stock

0.65	DMYY	dMY Squared Technology	Pair Corr
0.69	DYCQ	DT Cloud Acquisition	Pair Corr
0.62	EMCGR	Embrace Change Acqui	Pair Corr

Moving against Distoken Stock

0.88	DHIL	Diamond Hill Investment Earnings Call Shortly	Pair Corr
0.69	MC	Moelis	Pair Corr
0.68	CG	Carlyle Group Normal Trading	Pair Corr
0.67	BX	Blackstone Group Sell-off Trend	Pair Corr
0.65	DX	Dynex Capital	Pair Corr
0.62	PX	P10 Inc	Pair Corr
0.59	MS	Morgan Stanley	Pair Corr
0.58	GS	Goldman Sachs Group	Pair Corr
0.55	AC	Associated Capital Earnings Call Shortly	Pair Corr
0.55	QD	Qudian Inc	Pair Corr
0.54	BN	Brookfield Corp Earnings Call Shortly	Pair Corr
0.53	LC	LendingClub Corp	Pair Corr
0.5	MA	Mastercard Earnings Call Shortly	Pair Corr
0.45	V	Visa Class A	Pair Corr
0.35	LX	Lexinfintech Holdings	Pair Corr
0.74	VRTS	Virtus Investment	Pair Corr
0.72	WD	Walker Dunlop Earnings Call Shortly	Pair Corr
0.71	SF	Stifel Financial	Pair Corr
0.69	GCMGW	GCM Grosvenor	Pair Corr
0.62	RC	Ready Capital Corp Earnings Call Shortly	Pair Corr
0.59	EARN	Ellington Residential	Pair Corr
0.56	VCTR	Victory Capital Holdings Earnings Call Shortly	Pair Corr
0.55	WT	WisdomTree	Pair Corr
0.48	VINP	Vinci Partners Inves	Pair Corr
0.43	WU	Western Union	Pair Corr

Related Correlations Analysis

	ACI	VLGEA	RCLFF	K	DKL	HAFN	GZITF
ACI		0.57	0.0	0.65	-0.25	-0.49	0.0	ACI
VLGEA	0.57		0.0	0.23	-0.2	-0.25	0.0	VLGEA
RCLFF	0.0	0.0		0.0	0.0	0.0	1.0	RCLFF
K	0.65	0.23	0.0		-0.23	-0.76	0.0	K
DKL	-0.25	-0.2	0.0	-0.23		0.34	0.0	DKL
HAFN	-0.49	-0.25	0.0	-0.76	0.34		0.0	HAFN
GZITF	0.0	0.0	1.0	0.0	0.0	0.0		GZITF
	ACI	VLGEA	RCLFF	K	DKL	HAFN	GZITF

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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

GZITF	+ 1.0	RCLFF
K	+ 0.65	ACI
VLGEA	+ 0.57	ACI
HAFN	+ 0.34	DKL
K	+ 0.23	VLGEA
RCLFF	+ 0.0	ACI

High negative correlations

HAFN	- 0.76	K
HAFN	- 0.49	ACI
HAFN	- 0.25	VLGEA
DKL	- 0.25	ACI
DKL	- 0.23	K
DKL	- 0.2	VLGEA

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
ACI	1.54	0.19	0.13	0.96	2.09	(1.51)	3.39	(2.89)	12.81
VLGEA	1.31	0.18	0.19	0.48	1.28	(1.49)	3.29	(1.87)	7.75
RCLFF	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
K	0.14	0.01	0.69	(1.10)	0.11	(0.15)	0.33	(0.27)	1.22
DKL	1.47	0.00	0.00	(0.14)	0.00	0.00	2.58	(2.57)	10.61
HAFN	2.21	0.03	0.00	(0.10)	0.00	0.00	4.47	(4.31)	18.66
GZITF	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00

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