DMY Squared Correlations
| DMYY Stock | 12.38 0.27 2.13% |
The correlation of DMY Squared 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.
DMY Squared Correlation With Market
Significant diversification
The correlation between dMY Squared Technology and DJI is 0.05 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding dMY Squared Technology and DJI in the same portfolio, assuming nothing else is changed.
Moving together with DMY Stock
| 0.73 | V | Visa Class A | PairCorr |
| 0.76 | MA | Mastercard | PairCorr |
| 0.68 | OPFI | OppFi Inc | PairCorr |
| 0.71 | AC | Associated Capital | PairCorr |
| 0.67 | HG | Hamilton Insurance Group, | PairCorr |
Moving against DMY Stock
| 0.55 | HRZN | Horizon Technology Earnings Call This Week | PairCorr |
| 0.49 | CGBD | Carlyle Secured Lending | PairCorr |
| 0.39 | PSEC | Prospect Capital | PairCorr |
| 0.63 | RM | Regional Management Corp | PairCorr |
| 0.55 | PT | Pintec Technology | PairCorr |
| 0.42 | FG | FG Annuities Life | PairCorr |
Related Correlations Analysis
| Click cells to compare fundamentals | Check Volatility | Backtest Portfolio |
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
| High negative correlations
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Risk-Adjusted Indicators
There is a big difference between DMY Stock performing well and DMY Squared 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 DMY Squared'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| FLFV | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
| JAQCU | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
| SPCMU | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
| WAVS | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
| NCAC | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |