Abits Correlations

Stocks . USA . 
Stock . Abits Group
ABTS Stock   4.71  0.44  8.54%   
The current 90-days correlation between Abits Group and Microchip Technology is 0.38 (i.e., Weak diversification). The correlation of Abits 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. If the correlation is 0, the equities are not correlated; they are entirely random.

Abits Correlation With Market

Good diversification

The correlation between Abits Group and DJI is -0.06 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Abits Group and DJI in the same portfolio, assuming nothing else is changed.
  
Build AI portfolio with Abits Stock
Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Abits Group. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in estimate.

Moving together with Abits Stock

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Moving against Abits Stock

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  0.32ANGHW Anghami WarrantsPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Abits Stock performing well and Abits 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 Abits' 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.

Abits Corporate Executives

Elected by the shareholders, the Abits' board of directors comprises two types of representatives: Abits inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Abits. The board's role is to monitor Abits' management team and ensure that shareholders' interests are well served. Abits' inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, Abits' outside directors are responsible for providing unbiased perspectives on the board's policies.
Wanhong TanCFO SecretaryProfile
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