Davis Commodities Correlations

DTCK Stock

0.60 0.09 13.04%

The current 90-days correlation between Davis Commodities and Dolphin Entertainment is 0.08 (i.e., Significant diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Davis Commodities moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Davis Commodities Limited moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Davis Commodities Correlation With Market

Average diversification

The correlation between Davis Commodities Limited 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 Davis Commodities Limited and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Davis Stock

Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in Davis Commodities Limited. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in main economic indicators.

Moving together with Davis Stock

0.74	WILC	G Willi Food	Pair Corr
0.86	DDL	Dingdong ADR	Pair Corr
0.78	TGT	Target	Pair Corr
0.83	WNW	Meiwu Technology	Pair Corr
0.69	HCWC	Healthy Choice Wellness	Pair Corr
0.74	ANDE	Andersons Earnings Call Shortly	Pair Corr
0.67	UNFI	United Natural Foods	Pair Corr
0.71	USFD	US Foods Holding Earnings Call Shortly	Pair Corr

Moving against Davis Stock

0.78	DG	Dollar General	Pair Corr
0.75	KR	Kroger Company	Pair Corr
0.71	BJ	BJs Wholesale Club	Pair Corr
0.7	WMK	Weis Markets Earnings Call Shortly	Pair Corr
0.47	ACI	Albertsons Companies	Pair Corr
0.61	CASY	Caseys General Stores	Pair Corr
0.54	HFFG	Hf Foods Group Earnings Call Shortly	Pair Corr
0.51	VLGEA	Village Super Market	Pair Corr
0.38	NGVC	Natural Grocers by Earnings Call Shortly	Pair Corr
0.33	PSMT	PriceSmart	Pair Corr
0.71	UL	Unilever PLC ADR	Pair Corr
0.56	PM	Philip Morris Intern	Pair Corr
0.55	KO	Coca Cola	Pair Corr
0.49	MO	Altria Group	Pair Corr

Related Correlations Analysis

	DLPN	GLBE	ELVA	CAEN	PIUTQ	MCHX	NCMI	CPPKF
DLPN		0.21	-0.02	0.0	0.0	0.34	0.24	0.06	DLPN
GLBE	0.21		0.04	0.0	0.0	0.68	0.87	-0.69	GLBE
ELVA	-0.02	0.04		0.0	0.0	-0.23	-0.11	0.3	ELVA
CAEN	0.0	0.0	0.0		0.0	0.0	0.0	0.0	CAEN
PIUTQ	0.0	0.0	0.0	0.0		0.0	0.0	0.0	PIUTQ
MCHX	0.34	0.68	-0.23	0.0	0.0		0.55	-0.35	MCHX
NCMI	0.24	0.87	-0.11	0.0	0.0	0.55		-0.69	NCMI
CPPKF	0.06	-0.69	0.3	0.0	0.0	-0.35	-0.69		CPPKF
	DLPN	GLBE	ELVA	CAEN	PIUTQ	MCHX	NCMI	CPPKF

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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

NCMI	+ 0.87	GLBE
MCHX	+ 0.68	GLBE
NCMI	+ 0.55	MCHX
MCHX	+ 0.34	DLPN
CPPKF	+ 0.3	ELVA
NCMI	+ 0.24	DLPN

High negative correlations

CPPKF	- 0.69	NCMI
CPPKF	- 0.69	GLBE
CPPKF	- 0.35	MCHX
MCHX	- 0.23	ELVA
NCMI	- 0.11	ELVA
ELVA	- 0.02	DLPN

Risk-Adjusted Indicators

There is a big difference between Davis Stock performing well and Davis Commodities 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 Davis Commodities' 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
DLPN	3.36	0.37	0.07	0.17	3.80	(4.17)	7.77	(7.55)	19.53
GLBE	3.00	(0.32)	0.00	(0.29)	0.00	0.00	4.52	(8.39)	26.22
ELVA	2.94	0.10	0.06	0.10	3.06	(3.65)	6.34	(4.80)	21.32
CAEN	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
PIUTQ	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
MCHX	2.15	(0.31)	0.00	(0.85)	0.00	0.00	4.93	(4.52)	15.95
NCMI	2.18	(0.12)	0.00	(0.34)	0.00	0.00	4.10	(4.30)	20.91
CPPKF	2.11	0.26	0.12	(1.38)	2.23	(3.21)	5.36	(4.76)	15.74

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