Allied Gaming Correlations
| AGAE Stock | 1.84 0.13 7.60% |
The current 90-days correlation between Allied Gaming Entert and Guild Esports Plc is -0.08 (i.e., Good diversification). The correlation of Allied Gaming 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.
Allied Gaming Correlation With Market
Average diversification
The correlation between Allied Gaming Entertainment and DJI is 0.17 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Allied Gaming Entertainment and DJI in the same portfolio, assuming nothing else is changed.
Moving together with Allied Stock
| 0.72 | FL | Foot Locker | PairCorr |
| 0.63 | RL | Ralph Lauren Corp | PairCorr |
| 0.89 | VUZI | Vuzix Corp Cmn | PairCorr |
| 0.65 | EPSM | Epsium Enterprise | PairCorr |
| 0.67 | UAA | Under Armour A | PairCorr |
| 0.65 | GPRO | GoPro Inc | PairCorr |
| 0.71 | GRPN | Groupon | PairCorr |
| 0.68 | SONY | Sony Group Corp | PairCorr |
| 0.74 | URBN | Urban Outfitters | PairCorr |
| 0.77 | VVA | Viva Leisure | PairCorr |
Moving against Allied Stock
| 0.43 | AEO | American Eagle Outfitters | PairCorr |
| 0.66 | TOY | Toys R ANZ | PairCorr |
| 0.33 | PLCE | Childrens Place | PairCorr |
| 0.61 | FVR | FrontView REIT, | PairCorr |
| 0.37 | 603057 | Shanghai Ziyan Foods | PairCorr |
| 0.35 | BET | Betmakers Technology Earnings Call This Week | PairCorr |
Related Correlations Analysis
| 0.38 | 0.26 | 0.71 | 0.0 | 0.47 | -0.15 | ADD | ||
| 0.38 | 0.75 | 0.55 | 0.0 | 0.71 | 0.13 | GULDF | ||
| 0.26 | 0.75 | 0.32 | 0.0 | 0.71 | 0.08 | TRMNF | ||
| 0.71 | 0.55 | 0.32 | 0.0 | 0.41 | 0.0 | NETWF | ||
| 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | JEWL | ||
| 0.47 | 0.71 | 0.71 | 0.41 | 0.0 | -0.13 | VANI | ||
| -0.15 | 0.13 | 0.08 | 0.0 | 0.0 | -0.13 | REBN | ||
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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
| High negative correlations
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Risk-Adjusted Indicators
There is a big difference between Allied Stock performing well and Allied Gaming 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 Allied Gaming'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| ADD | 4.85 | 0.57 | 0.06 | 4.39 | 5.71 | 11.11 | 63.93 | |||
| GULDF | 35.26 | 22.58 | 0.00 | (0.47) | 0.00 | 6.17 | 1,057 | |||
| TRMNF | 11.38 | 5.92 | 0.00 | (13.13) | 0.00 | 19.05 | 255.36 | |||
| NETWF | 4.23 | 1.61 | 0.09 | (0.94) | 4.61 | 17.10 | 44.60 | |||
| JEWL | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
| VANI | 1.97 | 0.64 | 0.19 | (34.11) | 1.82 | 6.58 | 14.79 | |||
| REBN | 3.39 | (0.64) | 0.00 | (0.34) | 0.00 | 8.03 | 21.86 |