Joint Stock Correlations

KSPI Stock

87.80 1.84 2.14%

The current 90-days correlation between Joint Stock and Corpay Inc is 0.2 (i.e., Modest diversification). The correlation of Joint Stock 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.

Joint Stock Correlation With Market

Modest diversification

The correlation between Joint Stock and DJI is 0.26 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Joint Stock and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Joint Stock

Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in Joint Stock. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in american community survey.

For more detail on how to invest in Joint Stock please use our How to Invest in Joint Stock guide.

Moving against Joint Stock

0.49	MQ	Marqeta	Pair Corr
0.46	JG	Aurora Mobile	Pair Corr
0.4	VRAR	Glimpse Group	Pair Corr
0.37	BB	BlackBerry	Pair Corr
0.37	EVTC	Evertec	Pair Corr
0.32	ZS	Zscaler Sell-off Trend	Pair Corr
0.32	VRNS	Varonis Systems Earnings Call This Week	Pair Corr
0.56	DLO	Dlocal	Pair Corr
0.44	FAAS	DigiAsia Corp	Pair Corr
0.39	FFIV	F5 Networks Earnings Call This Week	Pair Corr
0.39	FLYW	Flywire Corp	Pair Corr
0.36	FAASW	DigiAsia Corp	Pair Corr
0.34	FOUR	Shift4 Payments	Pair Corr
0.32	FIVN	Five9 Inc	Pair Corr
0.42	NET	Cloudflare	Pair Corr
0.41	TCX	Tucows Inc	Pair Corr
0.4	SOS	SOS Limited	Pair Corr
0.36	WEX	Wex Inc Earnings Call Tomorrow	Pair Corr

Related Correlations Analysis

	CLBT	CPAY	DBX	EEFT	EVVTY	FIVN	FOUR	GEN	HSBK	KVYO
CLBT		-0.17	0.41	-0.17	-0.31	-0.54	-0.85	-0.78	-0.72	-0.32	CLBT
CPAY	-0.17		0.42	0.82	-0.33	0.72	0.44	0.59	0.01	0.77	CPAY
DBX	0.41	0.42		0.59	-0.78	0.34	-0.2	0.08	-0.53	0.58	DBX
EEFT	-0.17	0.82	0.59		-0.63	0.78	0.36	0.59	-0.01	0.84	EEFT
EVVTY	-0.31	-0.33	-0.78	-0.63		-0.33	0.25	-0.05	0.35	-0.52	EVVTY
FIVN	-0.54	0.72	0.34	0.78	-0.33		0.67	0.81	0.29	0.84	FIVN
FOUR	-0.85	0.44	-0.2	0.36	0.25	0.67		0.88	0.61	0.55	FOUR
GEN	-0.78	0.59	0.08	0.59	-0.05	0.81	0.88		0.53	0.78	GEN
HSBK	-0.72	0.01	-0.53	-0.01	0.35	0.29	0.61	0.53		0.14	HSBK
KVYO	-0.32	0.77	0.58	0.84	-0.52	0.84	0.55	0.78	0.14		KVYO
	CLBT	CPAY	DBX	EEFT	EVVTY	FIVN	FOUR	GEN	HSBK	KVYO

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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

GEN	+ 0.88	FOUR
KVYO	+ 0.84	EEFT
KVYO	+ 0.84	FIVN
EEFT	+ 0.82	CPAY
GEN	+ 0.81	FIVN
FIVN	+ 0.78	EEFT

High negative correlations

FOUR	- 0.85	CLBT
EVVTY	- 0.78	DBX
GEN	- 0.78	CLBT
HSBK	- 0.72	CLBT
EVVTY	- 0.63	EEFT
FIVN	- 0.54	CLBT

Risk-Adjusted Indicators

There is a big difference between Joint Stock performing well and Joint Stock 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 Joint Stock'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
CLBT	1.60	(0.55)	0.00	(0.61)	0.00	0.00	2.90	(3.76)	15.12
CPAY	1.51	(0.14)	(0.02)	0.06	2.07	(1.53)	2.75	(3.39)	14.49
DBX	1.05	(0.03)	(0.09)	0.05	1.32	(1.07)	1.99	(2.11)	6.31
EEFT	1.35	(0.10)	(0.03)	0.06	1.89	(1.32)	2.84	(3.92)	8.16
EVVTY	1.74	0.14	0.02	0.44	3.84	(1.76)	3.50	(2.21)	22.66
FIVN	2.12	0.30	0.06	(0.71)	1.97	(2.51)	5.68	(3.27)	10.81
FOUR	1.65	0.31	0.13	0.38	1.92	(1.71)	3.84	(3.24)	21.77
GEN	1.20	0.18	0.12	0.31	1.20	(1.34)	2.82	(1.95)	11.57
HSBK	1.01	0.33	0.12	(7.47)	1.04	(1.37)	2.37	(1.07)	13.11
KVYO	2.05	0.14	0.08	0.23	2.20	(2.26)	6.39	(4.27)	17.41

Joint Stock Corporate Management

Kanat Aitenov	Head Network	Profile
David Ferguson	Head Relations	Profile
Mamuka Kirvalidze	Head Business	Profile
Yuri Didenko	Deputy Board	Profile
Oleg Bakhmutov	Head People	Profile
Arseniy Kochetkov	Head Services	Profile

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