Mind Technology Correlations

MIND Stock

USD 7.60 0.26 3.54%

The current 90-days correlation between Mind Technology and Kraken Robotics is 0.16 (i.e., Average 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

Modest diversification

The correlation between Mind Technology and DJI is 0.2 (i.e., Modest 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.

Build AI portfolio with Mind Stock

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

0.72	ST	Sensata Technologies	Pair Corr
0.61	FARO	FARO Technologies	Pair Corr
0.72	ESE	ESCO Technologies	Pair Corr
0.64	LGL	LGL Group	Pair Corr
0.65	TDY	Teledyne Technologies Earnings Call This Week	Pair Corr
0.71	VNT	Vontier Corp	Pair Corr
0.74	VPG	Vishay Precision	Pair Corr
0.65	GRMN	Garmin	Pair Corr
0.77	ITRI	Itron Inc	Pair Corr
0.73	ITRN	Ituran Location	Pair Corr
0.67	KEYS	Keysight Technologies	Pair Corr
0.74	NOVT	Novanta	Pair Corr
0.74	TRMB	Trimble	Pair Corr
0.74	CGNX	Cognex	Pair Corr
0.75	COHR	Coherent	Pair Corr
0.78	DBD	Diebold Nixdorf,	Pair Corr

Moving against Mind Stock

0.61	SVRE	SaverOne 2014 Buyout Trend	Pair Corr
0.32	ODYS	Odysightai Common Stock	Pair Corr
0.8	VSTE	Vast Renewables	Pair Corr
0.74	VISL	Vislink Technologies	Pair Corr
0.61	APCXW	AppTech Payments Corp	Pair Corr
0.6	HPAIW	Helport AI Limited	Pair Corr
0.57	NOVA	Sunnova Energy Inter	Pair Corr
0.5	VBIX	Viewbix Common Stock	Pair Corr
0.44	BULLZ	Webull Incentive	Pair Corr
0.39	DVLT	Datavault AI Symbol Change	Pair Corr

Related Correlations Analysis

	KRKNF	SVRE	FCUV	NSCIF	DWSN	KTCC	RCMT	GIFI	MGYR
KRKNF		-0.77	-0.53	-0.65	0.36	0.64	0.73	0.55	0.83	KRKNF
SVRE	-0.77		0.67	0.83	-0.53	-0.8	-0.9	-0.21	-0.96	SVRE
FCUV	-0.53	0.67		0.63	-0.36	-0.7	-0.61	0.07	-0.63	FCUV
NSCIF	-0.65	0.83	0.63		-0.36	-0.58	-0.83	0.06	-0.81	NSCIF
DWSN	0.36	-0.53	-0.36	-0.36		0.35	0.31	0.27	0.43	DWSN
KTCC	0.64	-0.8	-0.7	-0.58	0.35		0.8	0.16	0.81	KTCC
RCMT	0.73	-0.9	-0.61	-0.83	0.31	0.8		0.07	0.91	RCMT
GIFI	0.55	-0.21	0.07	0.06	0.27	0.16	0.07		0.28	GIFI
MGYR	0.83	-0.96	-0.63	-0.81	0.43	0.81	0.91	0.28		MGYR
	KRKNF	SVRE	FCUV	NSCIF	DWSN	KTCC	RCMT	GIFI	MGYR

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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

MGYR	+ 0.91	RCMT
MGYR	+ 0.83	KRKNF
NSCIF	+ 0.83	SVRE
MGYR	+ 0.81	KTCC
RCMT	+ 0.8	KTCC
RCMT	+ 0.73	KRKNF

High negative correlations

MGYR	- 0.96	SVRE
RCMT	- 0.9	SVRE
RCMT	- 0.83	NSCIF
MGYR	- 0.81	NSCIF
KTCC	- 0.8	SVRE
SVRE	- 0.77	KRKNF

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
KRKNF	2.44	0.61	0.20	0.95	2.13	(3.14)	6.44	(3.45)	21.39
SVRE	6.78	(0.85)	0.00	(0.61)	0.00	0.00	15.34	(14.68)	59.01
FCUV	3.57	(0.86)	0.00	(0.32)	0.00	0.00	8.27	(8.54)	38.07
NSCIF	2.00	(0.35)	0.00	(0.35)	0.00	0.00	5.88	(5.56)	24.81
DWSN	6.55	0.89	0.13	0.60	6.34	(9.39)	11.50	(13.22)	132.98
KTCC	2.37	0.46	0.12	(2.55)	2.09	(2.96)	6.17	(4.40)	17.82
RCMT	2.01	0.61	0.35	0.87	1.18	(2.52)	4.39	(2.82)	19.76
GIFI	1.70	0.17	0.02	1.13	2.62	(1.80)	4.05	(3.87)	18.12
MGYR	0.97	0.31	0.13	(4.63)	0.79	(1.14)	2.26	(1.75)	4.89

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.

Mark CPA

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