Surf Air Correlations

SRFM Stock

2.31 0.05 2.12%

The current 90-days correlation between Surf Air Mobility and Crimson Wine is 0.18 (i.e., Average diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Surf Air moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Surf Air Mobility moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Surf Air Correlation With Market

Weak diversification

The correlation between Surf Air Mobility and DJI is 0.38 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Surf Air Mobility and DJI in the same portfolio, assuming nothing else is changed.

Check out World Market Map to better understand how to build diversified portfolios, which includes a position in Surf Air Mobility. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in census.

Moving together with Surf Stock

0.72	CP	Canadian Pacific Railway	Pair Corr
0.7	VLRS	Volaris	Pair Corr
0.71	WERN	Werner Enterprises	Pair Corr
0.7	AAL	American Airlines	Pair Corr
0.71	ALK	Alaska Air Group Earnings Call This Week	Pair Corr
0.66	CNI	Canadian National Railway	Pair Corr
0.76	CSX	CSX Corporation Earnings Call This Week	Pair Corr
0.72	DAL	Delta Air Lines	Pair Corr
0.75	KNX	Knight Transportation	Pair Corr
0.7	NSC	Norfolk Southern	Pair Corr
0.66	RXO	RXO Inc	Pair Corr
0.73	UAL	United Airlines Holdings Earnings Call This Week	Pair Corr
0.79	XPO	XPO Logistics	Pair Corr
0.76	HTLD	Heartland Express	Pair Corr
0.71	JBLU	JetBlue Airways Corp	Pair Corr
0.66	MRTN	Marten Transport Earnings Call This Week	Pair Corr
0.77	ODFL	Old Dominion Freight	Pair Corr
0.73	AIRT	Air T Inc	Pair Corr
0.66	ALGT	Allegiant Travel	Pair Corr
0.72	SAIA	Saia Inc	Pair Corr
0.73	ARCB	ArcBest Corp	Pair Corr
0.66	SKYW	SkyWest	Pair Corr
0.7	SNDR	Schneider National	Pair Corr
0.75	SNCY	Sun Country Airlines	Pair Corr
0.7	TFII	TFI International	Pair Corr

Moving against Surf Stock

0.61

ATSG

Air Transport Services

Pair Corr

Related Correlations Analysis

	NCTW	ALCIF	CFRLF	STZ	CWGL	KDP	ALTG	LDI
NCTW		-1.0	0.0	0.0	0.0	0.0	0.0	0.0	NCTW
ALCIF	-1.0		0.0	0.0	0.0	0.0	0.0	0.0	ALCIF
CFRLF	0.0	0.0		0.03	-0.38	0.63	-0.66	-0.84	CFRLF
STZ	0.0	0.0	0.03		0.38	-0.08	-0.14	0.13	STZ
CWGL	0.0	0.0	-0.38	0.38		-0.66	0.63	0.53	CWGL
KDP	0.0	0.0	0.63	-0.08	-0.66		-0.82	-0.77	KDP
ALTG	0.0	0.0	-0.66	-0.14	0.63	-0.82		0.71	ALTG
LDI	0.0	0.0	-0.84	0.13	0.53	-0.77	0.71		LDI
	NCTW	ALCIF	CFRLF	STZ	CWGL	KDP	ALTG	LDI

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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

LDI	+ 0.71	ALTG
KDP	+ 0.63	CFRLF
ALTG	+ 0.63	CWGL
LDI	+ 0.53	CWGL
CWGL	+ 0.38	STZ
LDI	+ 0.13	STZ

High negative correlations

ALCIF	- 1.0	NCTW
LDI	- 0.84	CFRLF
ALTG	- 0.82	KDP
LDI	- 0.77	KDP
KDP	- 0.66	CWGL
ALTG	- 0.66	CFRLF

Risk-Adjusted Indicators

There is a big difference between Surf Stock performing well and Surf Air 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 Surf Air'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
NCTW	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
ALCIF	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
CFRLF	0.52	0.26	0.00	31.12	0.00	0.00	0.00	0.00	17.50
STZ	1.67	(0.16)	0.00	(0.33)	0.00	0.00	3.22	(2.87)	17.43
CWGL	0.97	(0.06)	0.00	(0.56)	0.00	0.00	2.18	(1.86)	5.96
KDP	1.17	0.22	0.17	0.50	1.57	(1.23)	2.42	(2.42)	7.81
ALTG	3.82	(0.38)	0.00	(0.32)	0.00	0.00	7.14	(8.01)	26.46
LDI	3.09	(0.74)	0.00	0.80	0.00	0.00	7.02	(6.80)	25.85

Surf Air Corporate Management

Ido Gruberger	Chief Officer	Profile
Deanna White	Senior Advisor	Profile
Frederick Reid	Global Development	Profile
Bryce Van	Chief Officer	Profile

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