Eureka Acquisition Correlations

EURKU Stock

10.71 0.00 0.00%

The current 90-days correlation between Eureka Acquisition Corp and Precision Optics, is -0.01 (i.e., Good diversification). The correlation of Eureka Acquisition 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.

Eureka Acquisition Correlation With Market

Average diversification

The correlation between Eureka Acquisition Corp and DJI is 0.19 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Eureka Acquisition Corp and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Eureka Stock

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

Moving together with Eureka Stock

0.72	BAYAU	Bayview Acquisition Corp	Pair Corr
0.69	FORL	Four Leaf Acquisition	Pair Corr

Moving against Eureka Stock

0.64	GDSTU	Goldenstone Acquisition	Pair Corr
0.31	NOEMR	CO2 Energy Transition	Pair Corr
0.44	FSHPR	Flag Ship Acquisition	Pair Corr
0.36	YOTA	Yotta Acquisition	Pair Corr

Related Correlations Analysis

	GNL-PD	BXP	SKX	CFRLF	FTAI	POCI	NVST	MGRC
GNL-PD		0.35	0.47	0.49	0.28	0.67	0.58	0.61	GNL-PD
BXP	0.35		0.63	0.35	0.74	0.71	0.75	0.64	BXP
SKX	0.47	0.63		0.38	0.78	0.77	0.83	0.85	SKX
CFRLF	0.49	0.35	0.38		0.13	0.62	0.68	0.61	CFRLF
FTAI	0.28	0.74	0.78	0.13		0.58	0.66	0.64	FTAI
POCI	0.67	0.71	0.77	0.62	0.58		0.91	0.86	POCI
NVST	0.58	0.75	0.83	0.68	0.66	0.91		0.92	NVST
MGRC	0.61	0.64	0.85	0.61	0.64	0.86	0.92		MGRC
	GNL-PD	BXP	SKX	CFRLF	FTAI	POCI	NVST	MGRC

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Risk-Adjusted Indicators

There is a big difference between Eureka Stock performing well and Eureka Acquisition 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 Eureka Acquisition'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
GNL-PD	0.64	0.09	0.00	0.39	0.68	(0.68)	1.59	(1.18)	4.13
BXP	1.29	0.26	0.05	(0.87)	1.58	(1.31)	3.63	(2.18)	9.39
SKX	1.14	0.36	0.21	1.05	0.66	(1.31)	2.67	(1.78)	24.75
CFRLF	0.20	0.08	0.00	0.74	0.00	0.00	0.00	0.00	6.82
FTAI	2.76	0.09	0.04	0.19	4.04	(3.05)	5.54	(4.01)	24.64
POCI	2.31	0.34	0.07	3.52	2.68	(2.73)	5.80	(4.48)	14.38
NVST	1.72	0.15	0.10	0.22	1.89	(1.78)	3.98	(3.42)	11.88
MGRC	1.27	(0.01)	(0.01)	0.12	1.34	(1.35)	2.35	(2.51)	6.36

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