Waton Financial Correlations

WTF Stock

3.64 0.06 1.62%

The current 90-days correlation between Waton Financial and TON Strategy Co is 0.24 (i.e., Modest diversification). The correlation of Waton Financial 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.

Waton Financial Correlation With Market

Very good diversification

The correlation between Waton Financial Limited and DJI is -0.41 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Waton Financial Limited and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Waton Stock

Check out Your Current Watchlist to better understand how to build diversified portfolios, which includes a position in Waton Financial Limited. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as various price indices.

Moving against Waton Stock

0.72	WMT	Walmart Common Stock	Pair Corr
0.66	MRK	Merck Company Earnings Call This Week	Pair Corr
0.61	JNJ	Johnson Johnson	Pair Corr
0.51	AA	Alcoa Corp	Pair Corr
0.37	PFE	Pfizer Inc Earnings Call This Week	Pair Corr
0.36	CAT	Caterpillar Earnings Call Today	Pair Corr
0.32	BA	Boeing	Pair Corr

Related Correlations Analysis

	TONX	SSSS	LIEN	MLCI	NEWT	TPVG	HRZN	KOYN	OACC
TONX		-0.2	-0.52	-0.64	-0.43	-0.71	-0.41	0.27	-0.01	TONX
SSSS	-0.2		0.01	0.26	0.23	0.19	0.52	0.13	-0.12	SSSS
LIEN	-0.52	0.01		0.44	0.65	0.77	0.58	0.0	-0.05	LIEN
MLCI	-0.64	0.26	0.44		0.7	0.59	0.34	0.0	0.37	MLCI
NEWT	-0.43	0.23	0.65	0.7		0.7	0.58	0.35	0.39	NEWT
TPVG	-0.71	0.19	0.77	0.59	0.7		0.63	-0.19	-0.02	TPVG
HRZN	-0.41	0.52	0.58	0.34	0.58	0.63		0.23	-0.2	HRZN
KOYN	0.27	0.13	0.0	0.0	0.35	-0.19	0.23		0.18	KOYN
OACC	-0.01	-0.12	-0.05	0.37	0.39	-0.02	-0.2	0.18		OACC
	TONX	SSSS	LIEN	MLCI	NEWT	TPVG	HRZN	KOYN	OACC

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

TPVG	+ 0.77	LIEN
NEWT	+ 0.7	MLCI
TPVG	+ 0.7	NEWT
NEWT	+ 0.65	LIEN
HRZN	+ 0.63	TPVG
TPVG	+ 0.59	MLCI

High negative correlations

TPVG	- 0.71	TONX
MLCI	- 0.64	TONX
LIEN	- 0.52	TONX
NEWT	- 0.43	TONX
HRZN	- 0.41	TONX
OACC	- 0.2	HRZN

Risk-Adjusted Indicators

There is a big difference between Waton Stock performing well and Waton Financial 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 Waton Financial'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
TONX	4.63	(0.58)	0.00	(0.12)	0.00	0.00	11.52	(10.10)	31.21
SSSS	1.77	0.22	0.07	(7.19)	1.87	(2.04)	4.27	(3.42)	17.41
LIEN	1.05	0.14	0.03	(0.28)	1.37	(1.10)	2.70	(1.71)	7.58
MLCI	1.81	0.11	0.03	0.21	2.49	(1.97)	4.10	(4.51)	17.11
NEWT	1.60	0.29	0.15	0.23	1.78	(1.81)	4.67	(3.09)	13.38
TPVG	1.34	0.15	0.06	0.41	1.52	(1.35)	2.51	(2.58)	8.89
HRZN	1.01	0.23	0.18	0.63	0.77	(1.23)	2.53	(1.59)	11.64
KOYN	0.10	0.00	(0.40)	0.20	0.06	(0.16)	0.20	(0.20)	1.10
OACC	0.16	0.00	(0.22)	(0.18)	0.17	(0.29)	0.38	(0.47)	1.04

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