Digital Ally Correlations
The current 90-days correlation between Digital Ally and IZEA Inc is -0.05 (i.e., Good diversification). The correlation of Digital Ally 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.
Digital Ally Correlation With Market
Average diversification
The correlation between Digital Ally and DJI is 0.18 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Digital Ally and DJI in the same portfolio, assuming nothing else is changed.
Moving against Digital Stock
| 0.82 | CDW | CDW Corp | PairCorr |
| 0.81 | LASR | nLIGHT Inc | PairCorr |
| 0.76 | LITE | Lumentum Holdings | PairCorr |
| 0.7 | QBTS | D Wave Quantum Aggressive Push | PairCorr |
| 0.69 | LPL | LG Display Earnings Call This Week | PairCorr |
| 0.65 | VSH | Vishay Intertechnology | PairCorr |
| 0.6 | QUBT | Quantum Computing Aggressive Push | PairCorr |
| 0.58 | AAOI | Applied Opt | PairCorr |
| 0.57 | NTGR | NETGEAR | PairCorr |
| 0.54 | RGTIW | Rigetti Computing Trending | PairCorr |
| 0.53 | RGTI | Rigetti Computing Trending | PairCorr |
| 0.47 | RDWR | Radware | PairCorr |
| 0.8 | AVNW | Aviat Networks | PairCorr |
| 0.8 | MX | MagnaChip Semiconductor | PairCorr |
| 0.74 | CIEN | Ciena Corp | PairCorr |
| 0.74 | MU | Micron Technology | PairCorr |
| 0.66 | CSCO | Cisco Systems | PairCorr |
| 0.66 | VRRM | Verra Mobility Corp | PairCorr |
| 0.62 | ADI | Analog Devices | PairCorr |
| 0.6 | CRNT | Ceragon Networks | PairCorr |
| 0.57 | AMD | Advanced Micro Devices Aggressive Push | PairCorr |
| 0.53 | ON | ON Semiconductor | PairCorr |
| 0.48 | ADTN | ADTRAN Inc | PairCorr |
| 0.47 | MI | NFT Limited | PairCorr |
| 0.44 | ANY | Sphere 3D Corp | PairCorr |
| 0.82 | UMC | United Microelectronics | PairCorr |
| 0.81 | IZM | ICZOOM Group Class | PairCorr |
| 0.73 | INFY | Infosys Ltd ADR | PairCorr |
| 0.69 | ARM | Arm Holdings plc | PairCorr |
Related Correlations Analysis
| Click cells to compare fundamentals | Check Volatility | Backtest Portfolio |
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 Digital Stock performing well and Digital Ally 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 Digital Ally'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| IZEA | 3.00 | 1.20 | 0.32 | 20.52 | 2.26 | 7.75 | 24.60 | |||
| KRKR | 2.21 | 0.66 | 0.19 | 1.27 | 2.32 | 6.30 | 25.77 | |||
| CETX | 4.85 | 0.46 | 0.04 | 0.63 | 10.11 | 12.61 | 75.08 | |||
| VISL | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
| MARK | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Digital Ally Corporate Executives
Elected by the shareholders, the Digital Ally's board of directors comprises two types of representatives: Digital Ally inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Digital. The board's role is to monitor Digital Ally's management team and ensure that shareholders' interests are well served. Digital Ally's inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, Digital Ally's outside directors are responsible for providing unbiased perspectives on the board's policies.
| Thomas Heckman | CFO, VP, Treasurer and Secretary | Profile |