Connexa Sports Correlations

YYAI Stock

2.40 0.20 9.09%

The current 90-days correlation between Connexa Sports Techn and Where Food Comes is 0.06 (i.e., Significant 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

Weak diversification

The correlation between Connexa Sports Technologies and DJI is 0.3 (i.e., Weak 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

0.65

BLD

Topbuild Corp

Pair Corr

Moving against Connexa Stock

0.83	CRI	Carters	Pair Corr
0.63	VUZI	Vuzix Corp Cmn Tech Boost	Pair Corr
0.58	ESCA	Escalade Incorporated	Pair Corr
0.56	FEBO	Fenbo Holdings	Pair Corr
0.38	UA	Under Armour C	Pair Corr
0.37	VMAR	Vision Marine Techno	Pair Corr
0.33	VEEE	Twin Vee Powercats	Pair Corr
0.65	MAT	Mattel Inc	Pair Corr
0.65	UFI	Unifi Inc	Pair Corr
0.42	JXG	JX Luxventure Limited Symbol Change	Pair Corr
0.38	UAA	Under Armour A Aggressive Push	Pair Corr
0.37	RGR	Sturm Ruger	Pair Corr

Related Correlations Analysis

	CPRI	CDNS	SHOO	PVH	SCVL	WFCF	NTWK	GIII
CPRI		0.51	0.68	0.75	0.68	0.47	0.63	0.85	CPRI
CDNS	0.51		0.51	0.64	0.4	0.49	0.72	0.67	CDNS
SHOO	0.68	0.51		0.91	0.71	0.91	0.74	0.85	SHOO
PVH	0.75	0.64	0.91		0.77	0.83	0.72	0.91	PVH
SCVL	0.68	0.4	0.71	0.77		0.57	0.6	0.67	SCVL
WFCF	0.47	0.49	0.91	0.83	0.57		0.64	0.73	WFCF
NTWK	0.63	0.72	0.74	0.72	0.6	0.64		0.71	NTWK
GIII	0.85	0.67	0.85	0.91	0.67	0.73	0.71		GIII
	CPRI	CDNS	SHOO	PVH	SCVL	WFCF	NTWK	GIII

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
CPRI	2.52	(0.02)	0.06	0.10	2.70	(2.73)	5.97	(4.74)	20.87
CDNS	1.54	0.12	0.09	0.19	1.66	(1.75)	4.78	(2.55)	16.16
SHOO	2.18	0.31	0.19	0.21	2.13	(2.64)	5.19	(3.24)	15.64
PVH	1.81	0.30	0.22	0.26	1.47	(2.18)	4.36	(2.71)	9.13
SCVL	2.50	0.00	0.06	0.10	2.46	(2.93)	5.66	(4.66)	25.19
WFCF	1.52	0.34	0.15	0.44	1.56	(2.16)	4.83	(1.71)	18.87
NTWK	2.98	0.61	0.19	0.42	3.40	(3.39)	9.84	(4.79)	22.99
GIII	1.38	0.17	0.13	0.19	1.53	(1.50)	3.71	(2.97)	10.35

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