Connexa Sports Correlations

YYAI Stock

0.98 0.04 4.26%

The current 90-days correlation between Connexa Sports Techn and Jeffs Brands is 0.2 (i.e., Modest diversification). The correlation of Connexa Sports 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.

Connexa Sports Correlation With Market

Good diversification

The correlation between Connexa Sports Technologies and DJI is -0.03 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Connexa Sports Technologies and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Connexa Stock

Check out Your Current Watchlist to better understand how to build diversified portfolios, which includes a position in Connexa Sports Technologies. 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 Connexa Stock

0.88	AS	Amer Sports,	Pair Corr
0.73	UA	Under Armour C	Pair Corr
0.66	UNI	Unisync Corp	Pair Corr
0.61	MUL	Mulberry Group PLC Earnings Call This Week	Pair Corr
0.62	EZGO	EZGO Technologies	Pair Corr
0.77	600398	HLA GROUP P	Pair Corr
0.88	RADHIKAJWE	Radhika Jeweltech	Pair Corr
0.68	FOSL	Fossil Group	Pair Corr
0.64	HMR	Heidmar Maritime Holdings	Pair Corr
0.81	301276	Beijing Jiaman Dress	Pair Corr
0.78	OXM	Oxford Industries	Pair Corr
0.85	SGC	Superior Uniform	Pair Corr

Moving against Connexa Stock

0.84	RL	Ralph Lauren Corp	Pair Corr
0.83	ETHOSLTD	Ethos Limited	Pair Corr
0.74	KMD	KMD Brands	Pair Corr
0.66	CRI	Carters	Pair Corr
0.64	GIL	Gildan Activewear	Pair Corr
0.55	GIL	Gildan Activewear	Pair Corr
0.44	VNCE	Vince Holding Corp	Pair Corr
0.44	300577	Anhui Korrun	Pair Corr
0.76	ZGN	Ermenegildo Zegna	Pair Corr
0.76	GOENKA	Goenka Diamond	Pair Corr
0.73	SKYGOLD	Sky Gold Limited	Pair Corr
0.62	RBZJEWEL	RBZ Jewellers Limited	Pair Corr
0.59	REE	Ree Automotive Holding	Pair Corr
0.58	VRA	Vera Bradley Buyout Trend	Pair Corr
0.56	HBI	Hanesbrands	Pair Corr
0.51	605003	ZhongWang Fabric	Pair Corr
0.42	002485	Cedar Development	Pair Corr
0.42	VAIBHAVGBL	Vaibhav Global	Pair Corr
0.4	GIII	G III Apparel	Pair Corr
0.31	TPR	Tapestry	Pair Corr

Related Correlations Analysis

	JFBR	VMAR	ZOOZW	NVVE	IVP	CTHR	AREB	FFAIW	MKDW	WBUY
JFBR		0.59	0.14	0.6	0.73	-0.01	0.75	0.66	0.74	0.86	JFBR
VMAR	0.59		0.57	0.23	0.69	0.44	0.15	0.13	0.64	0.51	VMAR
ZOOZW	0.14	0.57		-0.34	0.51	0.43	-0.12	-0.34	0.57	0.42	ZOOZW
NVVE	0.6	0.23	-0.34		0.27	-0.13	0.54	0.61	0.25	0.27	NVVE
IVP	0.73	0.69	0.51	0.27		0.39	0.49	0.39	0.72	0.81	IVP
CTHR	-0.01	0.44	0.43	-0.13	0.39		-0.22	-0.06	0.2	0.06	CTHR
AREB	0.75	0.15	-0.12	0.54	0.49	-0.22		0.7	0.5	0.72	AREB
FFAIW	0.66	0.13	-0.34	0.61	0.39	-0.06	0.7		0.3	0.5	FFAIW
MKDW	0.74	0.64	0.57	0.25	0.72	0.2	0.5	0.3		0.84	MKDW
WBUY	0.86	0.51	0.42	0.27	0.81	0.06	0.72	0.5	0.84		WBUY
	JFBR	VMAR	ZOOZW	NVVE	IVP	CTHR	AREB	FFAIW	MKDW	WBUY

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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

WBUY	+ 0.86	JFBR
WBUY	+ 0.84	MKDW
WBUY	+ 0.81	IVP
AREB	+ 0.75	JFBR
MKDW	+ 0.74	JFBR
IVP	+ 0.73	JFBR

High negative correlations

FFAIW	- 0.34	ZOOZW
NVVE	- 0.34	ZOOZW
AREB	- 0.22	CTHR
CTHR	- 0.13	NVVE
AREB	- 0.12	ZOOZW
FFAIW	- 0.06	CTHR

Risk-Adjusted Indicators

There is a big difference between Connexa Stock performing well and Connexa Sports 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 Connexa Sports' 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
JFBR	4.03	(1.89)	0.00	(0.73)	0.00	0.00	7.50	(11.75)	28.66
VMAR	3.83	(0.47)	0.00	(0.16)	0.00	0.00	6.98	(7.69)	30.94
ZOOZW	7.65	0.51	0.04	0.48	9.15	(10.65)	20.00	(15.79)	63.33
NVVE	10.61	1.27	0.09	(0.18)	9.77	(21.64)	13.04	(15.38)	245.83
IVP	4.97	(2.25)	0.00	(0.79)	0.00	0.00	6.90	(9.76)	75.68
CTHR	37.90	14.60	0.37	(0.85)	26.18	(58.00)	150.00	(58.44)	438.88
AREB	12.27	(2.59)	0.00	1.40	0.00	0.00	28.16	(33.16)	116.99
FFAIW	10.38	0.43	0.04	0.16	13.40	(12.39)	27.07	(21.70)	103.65
MKDW	2.68	(0.07)	0.00	(0.07)	0.00	0.00	6.25	(4.76)	31.11
WBUY	2.91	(1.14)	0.00	(0.61)	0.00	0.00	5.30	(7.14)	21.88

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