Entravision Communications Correlations

EVC Stock

USD 2.41 0.06 2.43%

The current 90-days correlation between Entravision Communications and Emerald Expositions Events is -0.13 (i.e., Good diversification). The correlation of Entravision Communications 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.

Entravision Communications Correlation With Market

Good diversification

The correlation between Entravision Communications and DJI is -0.12 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Entravision Communications and DJI in the same portfolio, assuming nothing else is changed.

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

For information on how to trade Entravision Stock refer to our How to Trade Entravision Stock guide.

Moving together with Entravision Stock

0.79	DLPN	Dolphin Entertainment	Pair Corr
0.77	VSME	VS Media Holdings	Pair Corr
0.78	DIS	Walt Disney	Pair Corr
0.85	TSQ	Townsquare Media	Pair Corr
0.87	MCHX	Marchex	Pair Corr
0.91	MGNI	Magnite	Pair Corr
0.73	MSGE	Madison Square Garden	Pair Corr
0.75	NXST	Nexstar Broadcasting	Pair Corr
0.72	QMMM	QMMM Holdings Limited Buyout Trend	Pair Corr
0.8	SPHR	Sphere Entertainment	Pair Corr
0.8	Z	Zillow Group Class	Pair Corr
0.83	KT	KT Corporation Potential Growth	Pair Corr
0.83	SY	So Young International Trending	Pair Corr
0.8	TU	Telus Corp	Pair Corr
0.82	TV	Grupo Televisa SAB Earnings Call This Week	Pair Corr

Moving against Entravision Stock

0.7	BOC	Boston Omaha Corp	Pair Corr
0.69	NCMI	National CineMedia	Pair Corr
0.69	NCTY	The9 Ltd ADR	Pair Corr
0.65	ABLV	Able View Global	Pair Corr
0.63	WIMI	WiMi Hologram Cloud	Pair Corr
0.6	WPP	WPP PLC ADR	Pair Corr
0.32	FLNT	Fluent Inc	Pair Corr
0.64	GDEVW	Nexters Warrant	Pair Corr
0.58	STGW	Stagwell	Pair Corr
0.53	VZ	Verizon Communications Earnings Call This Week	Pair Corr
0.53	ANGHW	Anghami Warrants	Pair Corr
0.45	SJ	Scienjoy Holding Corp	Pair Corr

Related Correlations Analysis

	EEX	MCHX	CCO	TSQ	GTN	CMLS	SALM	BBGI	SBGI
EEX		0.76	0.92	0.66	0.83	-0.79	0.0	-0.62	0.17	EEX
MCHX	0.76		0.74	0.68	0.7	-0.9	0.0	-0.81	-0.25	MCHX
CCO	0.92	0.74		0.73	0.86	-0.74	0.0	-0.51	0.3	CCO
TSQ	0.66	0.68	0.73		0.9	-0.69	0.0	-0.66	0.37	TSQ
GTN	0.83	0.7	0.86	0.9		-0.75	0.0	-0.64	0.43	GTN
CMLS	-0.79	-0.9	-0.74	-0.69	-0.75		0.0	0.81	0.14	CMLS
SALM	0.0	0.0	0.0	0.0	0.0	0.0		0.0	0.0	SALM
BBGI	-0.62	-0.81	-0.51	-0.66	-0.64	0.81	0.0		0.27	BBGI
SBGI	0.17	-0.25	0.3	0.37	0.43	0.14	0.0	0.27		SBGI
	EEX	MCHX	CCO	TSQ	GTN	CMLS	SALM	BBGI	SBGI

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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

CCO	+ 0.92	EEX
GTN	+ 0.9	TSQ
GTN	+ 0.86	CCO
GTN	+ 0.83	EEX
BBGI	+ 0.81	CMLS
MCHX	+ 0.76	EEX

High negative correlations

CMLS	- 0.9	MCHX
BBGI	- 0.81	MCHX
CMLS	- 0.79	EEX
CMLS	- 0.75	GTN
CMLS	- 0.74	CCO
CMLS	- 0.69	TSQ

Risk-Adjusted Indicators

There is a big difference between Entravision Stock performing well and Entravision Communications 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 Entravision Communications' 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
EEX	1.74	0.38	0.23	0.42	1.43	(2.17)	4.64	(3.02)	19.35
MCHX	2.91	0.58	0.18	0.74	2.44	(4.12)	8.39	(5.29)	19.61
CCO	2.11	0.15	0.07	0.24	2.44	(2.46)	4.55	(4.80)	11.29
TSQ	1.72	0.07	0.02	0.20	3.02	(1.63)	3.35	(3.47)	8.36
GTN	3.33	0.48	0.18	0.36	2.88	(4.16)	9.90	(4.80)	24.96
CMLS	6.04	(2.40)	0.00	(13.86)	0.00	0.00	8.89	(20.00)	35.45
SALM	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
BBGI	3.83	(0.13)	0.00	(0.17)	0.00	0.00	7.42	(6.93)	27.29
SBGI	1.82	(0.06)	(0.02)	0.07	2.33	(1.80)	3.56	(3.80)	10.63

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