Smart Digital Correlations

SDM Stock

17.61 0.13 0.73%

The current 90-days correlation between Smart Digital Group and Willamette Valley Vineyards is -0.09 (i.e., Good diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Smart Digital moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Smart Digital Group moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Smart Digital Correlation With Market

Good diversification

The correlation between Smart Digital Group and DJI is -0.11 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Smart Digital Group and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Smart Stock

Check out World Market Map to better understand how to build diversified portfolios, which includes a position in Smart Digital Group. 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 Smart Stock

0.61	BATRK	Atlanta Braves Holdings, Earnings Call This Week	Pair Corr
0.63	LLYVK	Liberty Media	Pair Corr
0.62	MSGS	Madison Square Garden	Pair Corr
0.75	Z	Zillow Group Class Earnings Call This Week	Pair Corr

Moving against Smart Stock

0.8	WPP	WPP PLC ADR	Pair Corr
0.45	CURIW	CuriosityStream	Pair Corr
0.45	SJ	Scienjoy Holding Corp	Pair Corr
0.4	TNMG	TNL Mediagene Ordinary	Pair Corr

Related Correlations Analysis

	INACU	EMR	PEP	MJWNY	GAYMF	WVVIP	HNI	MNST
INACU		-0.5	-0.44	0.2	0.05	0.24	-0.54	0.16	INACU
EMR	-0.5		0.48	-0.03	0.17	-0.71	0.96	-0.1	EMR
PEP	-0.44	0.48		-0.61	-0.28	-0.02	0.39	-0.56	PEP
MJWNY	0.2	-0.03	-0.61		0.4	-0.24	0.05	0.76	MJWNY
GAYMF	0.05	0.17	-0.28	0.4		-0.37	0.14	0.49	GAYMF
WVVIP	0.24	-0.71	-0.02	-0.24	-0.37		-0.68	-0.28	WVVIP
HNI	-0.54	0.96	0.39	0.05	0.14	-0.68		-0.08	HNI
MNST	0.16	-0.1	-0.56	0.76	0.49	-0.28	-0.08		MNST
	INACU	EMR	PEP	MJWNY	GAYMF	WVVIP	HNI	MNST

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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

HNI	+ 0.96	EMR
MNST	+ 0.76	MJWNY
MNST	+ 0.49	GAYMF
PEP	+ 0.48	EMR
GAYMF	+ 0.4	MJWNY
HNI	+ 0.39	PEP

High negative correlations

WVVIP	- 0.71	EMR
HNI	- 0.68	WVVIP
MJWNY	- 0.61	PEP
MNST	- 0.56	PEP
HNI	- 0.54	INACU
EMR	- 0.5	INACU

Risk-Adjusted Indicators

There is a big difference between Smart Stock performing well and Smart Digital 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 Smart Digital'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
INACU	0.05	0.02	0.00	3.77	0.00	0.00	0.20	(0.10)	0.30
EMR	1.02	0.37	0.52	0.50	0.00	(1.31)	2.54	(1.02)	7.65
PEP	1.04	(0.12)	(0.14)	0.03	1.22	(1.21)	2.37	(1.51)	8.97
MJWNY	0.39	0.18	0.00	(0.15)	0.00	0.00	0.00	0.00	19.06
GAYMF	3.14	0.39	(0.02)	(0.06)	3.35	(5.83)	8.00	(6.67)	25.38
WVVIP	1.91	(0.12)	0.00	1.50	0.00	0.00	3.89	(4.03)	12.04
HNI	1.35	0.07	0.13	0.24	1.08	(1.68)	3.58	(2.51)	8.64
MNST	0.87	0.09	(0.12)	(0.27)	1.06	(0.89)	1.51	(1.84)	5.46

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