Mind Technology Correlations

MIND Stock

USD 7.79 0.30 4.01%

The current 90-days correlation between Mind Technology and Sono Tek Corp is -0.31 (i.e., Very good diversification). The correlation of Mind Technology 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.

Mind Technology Correlation With Market

Good diversification

The correlation between Mind Technology and DJI is -0.18 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Mind Technology and DJI in the same portfolio, assuming nothing else is changed.

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

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

Moving together with Mind Stock

0.92	ELSE	Electro Sensors	Pair Corr
0.61	CPTN	Cepton Inc	Pair Corr

Moving against Mind Stock

0.93	GNSS	Genasys	Pair Corr
0.8	ST	Sensata Technologies	Pair Corr
0.8	WATT	Energous	Pair Corr
0.63	KNW	Know Labs	Pair Corr
0.34	SVREW	SaverOne 2014	Pair Corr
0.76	NOVT	Novanta	Pair Corr
0.76	CGNX	Cognex	Pair Corr
0.75	SOBR	Sobr Safe	Pair Corr
0.65	CPTNW	Cepton Inc	Pair Corr
0.45	SVRE	SaverOne 2014 Buyout Trend	Pair Corr
0.36	ASTC	Astrotech Corp	Pair Corr
0.81	DZSI	DZS Inc	Pair Corr
0.81	XELAP	Exela Technologies	Pair Corr
0.57	SBIGW	SpringBig Holdings	Pair Corr
0.52	EACO	Eaco Corp	Pair Corr

Related Correlations Analysis

	SEPJF	ELSE	SOTK	VPG	NSCIF	SRMX	GNSS	ST	SVREW	MINDP
SEPJF		-0.75	-0.27	0.32	0.64	-0.02	0.51	0.74	0.56	0.14	SEPJF
ELSE	-0.75		0.2	-0.12	-0.78	-0.22	-0.81	-0.9	-0.5	0.12	ELSE
SOTK	-0.27	0.2		-0.27	-0.56	0.08	0.04	-0.3	-0.51	-0.49	SOTK
VPG	0.32	-0.12	-0.27		0.07	0.0	-0.17	0.41	0.48	0.19	VPG
NSCIF	0.64	-0.78	-0.56	0.07		0.13	0.6	0.75	0.64	0.28	NSCIF
SRMX	-0.02	-0.22	0.08	0.0	0.13		0.21	0.17	-0.03	-0.09	SRMX
GNSS	0.51	-0.81	0.04	-0.17	0.6	0.21		0.69	0.25	-0.22	GNSS
ST	0.74	-0.9	-0.3	0.41	0.75	0.17	0.69		0.62	-0.09	ST
SVREW	0.56	-0.5	-0.51	0.48	0.64	-0.03	0.25	0.62		0.27	SVREW
MINDP	0.14	0.12	-0.49	0.19	0.28	-0.09	-0.22	-0.09	0.27		MINDP
	SEPJF	ELSE	SOTK	VPG	NSCIF	SRMX	GNSS	ST	SVREW	MINDP

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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

ST	+ 0.75	NSCIF
ST	+ 0.74	SEPJF
ST	+ 0.69	GNSS
NSCIF	+ 0.64	SEPJF
SVREW	+ 0.64	NSCIF
SVREW	+ 0.62	ST

High negative correlations

ST	- 0.9	ELSE
GNSS	- 0.81	ELSE
NSCIF	- 0.78	ELSE
ELSE	- 0.75	SEPJF
NSCIF	- 0.56	SOTK
SVREW	- 0.51	SOTK

Risk-Adjusted Indicators

There is a big difference between Mind Stock performing well and Mind Technology 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 Mind Technology'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
SEPJF	2.24	(0.17)	0.00	0.49	0.00	0.00	5.16	(4.82)	12.94
ELSE	1.65	0.44	0.17	(1.35)	1.71	(2.14)	3.66	(2.99)	12.02
SOTK	2.09	0.12	0.03	0.24	2.94	(2.23)	3.94	(3.42)	18.96
VPG	1.73	0.01	(0.01)	(0.01)	2.18	(1.75)	3.56	(3.20)	11.08
NSCIF	3.73	(0.27)	0.00	0.55	0.00	0.00	8.00	(10.71)	21.64
SRMX	24.92	5.51	0.14	3.68	20.21	(64.29)	100.00	(50.00)	150.00
GNSS	2.57	(0.38)	0.00	(0.44)	0.00	0.00	4.53	(6.47)	25.63
ST	1.46	(0.36)	0.00	1.21	0.00	0.00	3.30	(3.02)	10.42
SVREW	22.18	2.02	0.07	(1.10)	21.71	(38.53)	71.43	(43.18)	143.18
MINDP	1.76	(0.05)	0.00	(0.33)	0.00	0.00	3.20	(3.70)	22.57

Mind Technology Corporate Executives

Elected by the shareholders, the Mind Technology's board of directors comprises two types of representatives: Mind Technology inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Mind. The board's role is to monitor Mind Technology's management team and ensure that shareholders' interests are well served. Mind Technology's inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, Mind Technology's outside directors are responsible for providing unbiased perspectives on the board's policies.

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