Dune Acquisition Correlations

IPOD Stock

USD 10.17 0.04 0.39%

The correlation of Dune 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.

Dune Acquisition Correlation With Market

Good diversification

The correlation between Dune Acquisition and DJI is -0.13 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Dune Acquisition and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Dune Stock

Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in Dune 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 producer price index.

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

Moving together with Dune Stock

0.75	CAIXY	Caixabank SA ADR	Pair Corr
0.82	KGHPF	KGHM Polska Miedz	Pair Corr
0.81	GOOGL	Alphabet Class A Aggressive Push	Pair Corr
0.77	ELAMF	Elamex SA de	Pair Corr
0.77	BKEAY	Bank of East Asia Limited	Pair Corr
0.84	MLGF	Malaga Financial	Pair Corr
0.83	ARMP	Armata Pharmaceuticals	Pair Corr
0.83	SCIA	SCI Engineered Materials	Pair Corr
0.79	CBBLF	CBLT Inc	Pair Corr
0.68	MCY	Mercury General	Pair Corr
0.76	REGN	Regeneron Pharmaceuticals	Pair Corr
0.87	UAN	CVR Partners LP	Pair Corr

Moving against Dune Stock

0.94	MNTN	MNTN, Inc	Pair Corr
0.79	HCMC	Healthier Choices	Pair Corr
0.46	DCOMP	Dime Community Bancshares	Pair Corr

Related Correlations Analysis

	TSTS	OMRX	PKSGY	HTOCF	BZH	ESHSF
TSTS		0.0	0.0	0.0	0.0	0.0	TSTS
OMRX	0.0		-1.0	0.0	0.0	0.0	OMRX
PKSGY	0.0	-1.0		0.0	0.0	0.0	PKSGY
HTOCF	0.0	0.0	0.0		-0.74	0.0	HTOCF
BZH	0.0	0.0	0.0	-0.74		0.0	BZH
ESHSF	0.0	0.0	0.0	0.0	0.0		ESHSF
	TSTS	OMRX	PKSGY	HTOCF	BZH	ESHSF

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

OMRX	+ 0.0	TSTS
PKSGY	+ 0.0	TSTS
HTOCF	+ 0.0	TSTS
BZH	+ 0.0	TSTS
ESHSF	+ 0.0	TSTS
HTOCF	+ 0.0	OMRX

High negative correlations

PKSGY	- 1.0	OMRX
BZH	- 0.74	HTOCF
ESHSF	- 0.0	BZH
ESHSF	- 0.0	HTOCF
ESHSF	- 0.0	PKSGY
BZH	- 0.0	PKSGY

Risk-Adjusted Indicators

There is a big difference between Dune Stock performing well and Dune 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 Dune 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	Treynor Ratio	Potential Upside	Value @Risk	Maximum Drawdown
TSTS	0.00	0.00	0.00	0.00	0.00	0.00
OMRX	0.00	0.00	0.00	0.00	0.00	0.00
PKSGY	0.00	0.00	0.00	0.00	0.00	0.00
HTOCF	0.09	0.03	1.11	0.00	0.00	1.52
BZH	1.63	(0.25)	(0.08)	3.24	(3.19)	13.51
ESHSF	0.00	0.00	0.00	0.00	0.00	0.00

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