Fitell Ordinary Correlations

FTEL Stock

0.45 0.09 16.67%

The current 90-days correlation between Fitell Ordinary and Dolphin Entertainment is 0.09 (i.e., Significant diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Fitell Ordinary moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Fitell Ordinary moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Fitell Ordinary Correlation With Market

Significant diversification

The correlation between Fitell Ordinary and DJI is 0.09 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Fitell Ordinary and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Fitell Stock

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

For more information on how to buy Fitell Stock please use our How to buy in Fitell Stock guide.

Moving against Fitell Stock

0.45	WEYS	Weyco Group	Pair Corr
0.45	GAP	Gap, Symbol Change	Pair Corr
0.42	HD	Home Depot	Pair Corr
0.42	GPI	Group 1 Automotive	Pair Corr
0.35	EYE	National Vision Holdings	Pair Corr
0.56	SPWH	Sportsmans	Pair Corr
0.46	UCAR	U Power Limited	Pair Corr
0.42	CPNG	Coupang LLC	Pair Corr
0.38	VC	Visteon Corp	Pair Corr
0.37	LI	Li Auto	Pair Corr
0.32	LOGC	Contextlogic	Pair Corr
0.62	DAO	Youdao Inc	Pair Corr
0.61	FTDR	Frontdoor	Pair Corr

Related Correlations Analysis

	MO	WPP	SAM	TPB	IPG	DLPN	KAVL
MO		-0.15	0.12	0.28	-0.35	0.36	-0.45	MO
WPP	-0.15		-0.24	0.48	0.67	0.56	0.74	WPP
SAM	0.12	-0.24		0.23	-0.21	0.21	-0.11	SAM
TPB	0.28	0.48	0.23		0.01	0.51	0.44	TPB
IPG	-0.35	0.67	-0.21	0.01		0.23	0.7	IPG
DLPN	0.36	0.56	0.21	0.51	0.23		0.23	DLPN
KAVL	-0.45	0.74	-0.11	0.44	0.7	0.23		KAVL
	MO	WPP	SAM	TPB	IPG	DLPN	KAVL

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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

KAVL	+ 0.74	WPP
KAVL	+ 0.7	IPG
IPG	+ 0.67	WPP
DLPN	+ 0.56	WPP
DLPN	+ 0.51	TPB
TPB	+ 0.48	WPP

High negative correlations

KAVL	- 0.45	MO
IPG	- 0.35	MO
SAM	- 0.24	WPP
IPG	- 0.21	SAM
WPP	- 0.15	MO
KAVL	- 0.11	SAM

Risk-Adjusted Indicators

There is a big difference between Fitell Stock performing well and Fitell Ordinary 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 Fitell Ordinary'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
MO	1.03	0.18	0.15	1.49	1.23	(1.12)	2.08	(2.05)	7.39
WPP	1.80	(0.25)	0.00	0.62	0.00	0.00	3.20	(4.33)	15.61
SAM	1.58	(0.02)	0.00	0.04	0.00	0.00	3.58	(3.40)	9.43
TPB	1.93	0.15	0.06	3.84	2.86	(1.82)	2.51	(5.80)	31.42
IPG	1.67	(0.17)	0.00	2.51	0.00	0.00	3.11	(3.72)	16.38
DLPN	2.86	0.02	0.02	(0.19)	3.53	(3.41)	6.93	(6.86)	21.89
KAVL	3.12	(0.50)	0.00	(2.06)	0.00	0.00	5.26	(8.20)	19.98

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