MKDWELL Tech Correlations

MKDW Stock   0.24  0.02  9.09%   
The correlation of MKDWELL Tech 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.

MKDWELL Tech Correlation With Market

Good diversification

The correlation between MKDWELL Tech Ordinary and DJI is -0.01 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding MKDWELL Tech Ordinary 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 MKDWELL Tech Ordinary. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in unemployment.

Moving together with MKDWELL Stock

  0.75IT GartnerPairCorr

Moving against MKDWELL Stock

  0.74NTRP NextTripPairCorr
  0.74RIOT Riot Blockchain Aggressive PushPairCorr
  0.74CLSK CleanSparkPairCorr
  0.68ENLV Enlivex TherapeuticsPairCorr
  0.66DIOD Diodes IncorporatedPairCorr
  0.59FRGE Forge Global HoldingsPairCorr
  0.57MARA Marathon Digital Holdings Aggressive PushPairCorr
  0.57BTBT Bit Digital Aggressive PushPairCorr
  0.48FUBO Fubotv IncPairCorr
  0.48GREEL Greenidge GenerationPairCorr
  0.48CXDO CrexendoPairCorr
  0.48U Unity Software Aggressive PushPairCorr
  0.35TROO TROOPS IncPairCorr
  0.81FN FabrinetPairCorr
  0.78NN Nextnav Acquisition CorpPairCorr
  0.77VS Versus SystemsPairCorr
  0.71DQ Daqo New EnergyPairCorr
  0.65KN Knowles Cor Earnings Call This WeekPairCorr
  0.62JG Aurora MobilePairCorr
  0.6ON ON Semiconductor Earnings Call Next WeekPairCorr
  0.59DV DoubleVerify HoldingsPairCorr
  0.57MQ MarqetaPairCorr
  0.55NA Nano LabsPairCorr
  0.54MU Micron TechnologyPairCorr
  0.47BB BlackBerryPairCorr
  0.46KE Kimball ElectronicsPairCorr
  0.38KD Kyndryl HoldingsPairCorr

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   
NOKFFSPMMF
IASPINS
PINSTV
IASTV
PINSVLRS
VLRSTV
  
High negative correlations   
PINSPLTK
PLTKTV
VLRSPLTK
IASPLTK
IASNOKFF
NOKFFPINS

Risk-Adjusted Indicators

There is a big difference between MKDWELL Stock performing well and MKDWELL Tech 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 MKDWELL Tech'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.