Newegg Commerce Correlations

NEGG Stock  USD 0.63  0.01  1.61%   
The current 90-days correlation between Newegg Commerce and Jumia Technologies AG is 0.22 (i.e., Modest diversification). The correlation of Newegg Commerce 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.

Newegg Commerce Correlation With Market

Very weak diversification

The correlation between Newegg Commerce and DJI is 0.41 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Newegg Commerce 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 Newegg Commerce. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in price.
For more detail on how to invest in Newegg Stock please use our How to Invest in Newegg Commerce guide.

Moving together with Newegg Stock

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Moving against Newegg Stock

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Related Correlations Analysis

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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   
OSTKJFBR
WLQDT
SECOQRTEB
WJFBR
WQRTEB
LQDTQRTEB
  
High negative correlations   
NHTCOSTK
WNHTC
NHTCJFBR
SECOWISH
QRTEBOSTK
WPIK

Risk-Adjusted Indicators

There is a big difference between Newegg Stock performing well and Newegg Commerce 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 Newegg Commerce'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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
JFBR  6.92  0.81  0.11  0.66  6.37 
 21.43 
 53.36 
JMIA  3.80 (0.90) 0.00 (1.23) 0.00 
 7.14 
 53.82 
WISH  2.03  0.09  0.00 (0.65) 2.09 
 3.24 
 18.88 
OSTK  3.47  0.73  0.22  0.58  3.06 
 11.40 
 30.48 
PIK  4.13 (0.14) 0.00 (0.06) 0.00 
 9.38 
 32.65 
QRTEB  3.60 (0.21) 0.00 (0.01) 0.00 
 10.24 
 27.73 
NHTC  1.37 (0.26) 0.00 (2.71) 0.00 
 2.88 
 12.49 
LQDT  1.41 (0.06)(0.02) 0.03  1.80 
 3.99 
 9.06 
SECO  5.16  0.09  0.04  0.10  5.49 
 14.29 
 45.51 
W  3.01 (0.33) 0.00 (0.04) 0.00 
 7.05 
 19.53 

Newegg Commerce Corporate Management

Fred ChangCoFounder ChairmanProfile
Yong HouChief OfficerProfile
Michael ChenChief OfficerProfile
YuehPai ChangChief OfficerProfile
Anthony ChowChief OfficerProfile
Christina ChingInterim OfficerProfile
Jamie SpannosChief OfficerProfile