ScanTech Correlations

STAI Stock

USD 0.70 0.01 1.41%

The current 90-days correlation between ScanTech AI Systems and Tenaris SA ADR is -0.01 (i.e., Good diversification). The correlation of ScanTech 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.

ScanTech Correlation With Market

Good diversification

The correlation between ScanTech AI Systems and DJI is -0.02 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding ScanTech AI Systems and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with ScanTech Stock

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

Moving together with ScanTech Stock

0.73	IMTE	Integrated Media Tec Tech Boost	Pair Corr
0.78	FRGT	Freight Technologies	Pair Corr

Moving against ScanTech Stock

0.97	LASR	nLIGHT Inc	Pair Corr
0.93	LITE	Lumentum Holdings	Pair Corr
0.91	QBTS	D Wave Quantum Aggressive Push	Pair Corr
0.89	QUBT	Quantum Computing Aggressive Push	Pair Corr
0.88	LPL	LG Display Earnings Call This Week	Pair Corr
0.87	VSH	Vishay Intertechnology	Pair Corr
0.77	RGTIW	Rigetti Computing Trending	Pair Corr
0.77	RDWR	Radware	Pair Corr
0.77	AAOI	Applied Opt	Pair Corr
0.74	NTGR	NETGEAR	Pair Corr
0.74	RGTI	Rigetti Computing Trending	Pair Corr
0.73	CDW	CDW Corp	Pair Corr
0.35	GILT	Gilat Satellite Networks	Pair Corr
0.94	AVNW	Aviat Networks	Pair Corr
0.94	CSCO	Cisco Systems	Pair Corr
0.94	MU	Micron Technology	Pair Corr
0.92	MX	MagnaChip Semiconductor	Pair Corr
0.92	ADI	Analog Devices	Pair Corr
0.9	VRRM	Verra Mobility Corp	Pair Corr
0.87	ON	ON Semiconductor	Pair Corr
0.86	AMD	Advanced Micro Devices Aggressive Push	Pair Corr
0.81	CIEN	Ciena Corp	Pair Corr
0.78	CRNT	Ceragon Networks	Pair Corr
0.66	ADTN	ADTRAN Inc	Pair Corr
0.51	ENLV	Enlivex Therapeutics	Pair Corr
0.47	ANY	Sphere 3D Corp	Pair Corr
0.44	MI	NFT Limited	Pair Corr
0.42	AUDC	AudioCodes	Pair Corr
0.35	ENTG	Entegris	Pair Corr
0.93	IZM	ICZOOM Group Class	Pair Corr
0.92	IBM	International Business Earnings Call This Week	Pair Corr
0.92	TSM	Taiwan Semiconductor Aggressive Push	Pair Corr
0.9	UMC	United Microelectronics	Pair Corr

Related Correlations Analysis

	TS	IRIG	CBEEF	PENN	SDRL	GHIFF	BYD	SKLZ
TS		0.0	0.0	0.88	0.93	0.89	0.88	0.84	TS
IRIG	0.0		-1.0	0.0	0.0	0.0	0.0	0.0	IRIG
CBEEF	0.0	-1.0		0.0	0.0	0.0	0.0	0.0	CBEEF
PENN	0.88	0.0	0.0		0.82	0.76	0.81	0.74	PENN
SDRL	0.93	0.0	0.0	0.82		0.84	0.89	0.85	SDRL
GHIFF	0.89	0.0	0.0	0.76	0.84		0.87	0.83	GHIFF
BYD	0.88	0.0	0.0	0.81	0.89	0.87		0.94	BYD
SKLZ	0.84	0.0	0.0	0.74	0.85	0.83	0.94		SKLZ
	TS	IRIG	CBEEF	PENN	SDRL	GHIFF	BYD	SKLZ

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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

SKLZ	+ 0.94	BYD
SDRL	+ 0.93	TS
GHIFF	+ 0.89	TS
BYD	+ 0.89	SDRL
PENN	+ 0.88	TS
BYD	+ 0.88	TS

High negative correlations

CBEEF	- 1.0	IRIG
SKLZ	- 0.0	CBEEF
BYD	- 0.0	CBEEF
GHIFF	- 0.0	CBEEF
SDRL	- 0.0	CBEEF
PENN	- 0.0	CBEEF

Risk-Adjusted Indicators

There is a big difference between ScanTech Stock performing well and ScanTech 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 ScanTech'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
TS	1.21	0.23	0.11	1.16	0.94	(1.46)	2.43	(1.99)	8.08
IRIG	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
CBEEF	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
PENN	2.20	0.19	0.10	0.26	2.32	(2.57)	5.64	(3.56)	16.00
SDRL	2.17	0.58	0.22	1.95	1.76	(2.51)	6.39	(3.64)	13.86
GHIFF	0.91	0.56	0.00	(2.14)	0.00	0.00	4.61	0.00	10.33
BYD	1.18	0.40	0.14	(2.12)	1.35	(1.32)	3.38	(1.46)	10.97
SKLZ	2.15	0.67	0.27	0.71	1.86	(2.44)	5.58	(3.23)	14.92

ScanTech Corporate Executives

Elected by the shareholders, the ScanTech's board of directors comprises two types of representatives: ScanTech inside directors who are chosen from within the company, and outside directors, selected externally and held independent of ScanTech. The board's role is to monitor ScanTech's management team and ensure that shareholders' interests are well served. ScanTech'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, ScanTech's outside directors are responsible for providing unbiased perspectives on the board's policies.

Marion IV	Executive COO	Profile
Marion Starns	Executive COO	Profile
Christopher Green	VP CTO	Profile

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