Black Hawk Correlations

BKHA Stock

11.00 0.01 0.09%

The current 90-days correlation between Black Hawk Acquisition and Century Aluminum is -0.03 (i.e., Good diversification). The correlation of Black Hawk 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.

Black Hawk Correlation With Market

Good diversification

The correlation between Black Hawk Acquisition and DJI is -0.13 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Black Hawk Acquisition and DJI in the same portfolio, assuming nothing else is changed.

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Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Black Hawk Acquisition. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in rate.

Moving against Black Stock

0.5	LX	Lexinfintech Holdings Upward Rally	Pair Corr
0.37	LU	Lufax Holding	Pair Corr
0.32	TW	Tradeweb Markets Earnings Call This Week	Pair Corr
0.49	WU	Western Union Earnings Call This Week	Pair Corr
0.39	GCMGW	GCM Grosvenor	Pair Corr

Related Correlations Analysis

	CENX	WS	GRMC	PKE	TWI	CAPNU	PKX	MT
CENX		0.59	0.0	0.74	0.64	-0.62	0.56	0.2	CENX
WS	0.59		0.0	0.74	0.74	-0.3	0.74	0.51	WS
GRMC	0.0	0.0		0.0	0.0	0.0	0.0	0.0	GRMC
PKE	0.74	0.74	0.0		0.53	-0.29	0.51	0.17	PKE
TWI	0.64	0.74	0.0	0.53		-0.62	0.73	0.48	TWI
CAPNU	-0.62	-0.3	0.0	-0.29	-0.62		-0.48	-0.08	CAPNU
PKX	0.56	0.74	0.0	0.51	0.73	-0.48		0.77	PKX
MT	0.2	0.51	0.0	0.17	0.48	-0.08	0.77		MT
	CENX	WS	GRMC	PKE	TWI	CAPNU	PKX	MT

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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

MT	+ 0.77	PKX
PKE	+ 0.74	CENX
PKE	+ 0.74	WS
TWI	+ 0.74	WS
PKX	+ 0.74	WS
PKX	+ 0.73	TWI

High negative correlations

CAPNU	- 0.62	TWI
CAPNU	- 0.62	CENX
PKX	- 0.48	CAPNU
CAPNU	- 0.3	WS
CAPNU	- 0.29	PKE
MT	- 0.08	CAPNU

Risk-Adjusted Indicators

There is a big difference between Black Stock performing well and Black Hawk 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 Black Hawk'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
CENX	2.69	0.61	0.20	(2.27)	1.91	(3.82)	6.70	(3.83)	25.61
WS	2.08	0.44	0.13	3.12	1.99	(2.34)	3.44	(3.33)	27.36
GRMC	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
PKE	1.54	0.72	0.43	(2.20)	0.58	(1.98)	3.99	(2.17)	10.36
TWI	2.79	0.51	0.13	1.96	2.78	(3.53)	8.40	(3.82)	19.44
CAPNU	0.27	0.02	0.00	0.04	0.00	0.00	0.00	0.00	16.03
PKX	1.70	0.34	0.16	0.64	1.41	(2.00)	5.05	(3.04)	10.38
MT	1.49	0.24	0.16	0.40	1.14	(1.72)	4.00	(2.31)	8.02

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