Magic Empire Correlations

MEGL Stock

USD 1.75 0.20 10.26%

The current 90-days correlation between Magic Empire Global and Invesco Advantage MIT is 0.29 (i.e., Modest diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Magic Empire moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Magic Empire Global moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Magic Empire Correlation With Market

Weak diversification

The correlation between Magic Empire Global and DJI is 0.31 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Magic Empire Global and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Magic Stock

Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in Magic Empire Global. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in price.

Moving together with Magic Stock

0.64	LGHLW	Lion Financial Group	Pair Corr
0.77	ABR	Arbor Realty Trust	Pair Corr
0.81	AMP	Ameriprise Financial	Pair Corr
0.86	AXP	American Express	Pair Corr
0.88	PWP	Perella Weinberg Partners	Pair Corr
0.69	ORGN	Origin Materials	Pair Corr
0.79	APAM	Artisan Partners Asset Normal Trading	Pair Corr
0.83	C	Citigroup Aggressive Push	Pair Corr
0.64	DHIL	Diamond Hill Investment	Pair Corr
0.62	AC	Associated Capital	Pair Corr
0.82	AX	Axos Financial	Pair Corr
0.69	BK	Bank of New York	Pair Corr
0.81	BN	Brookfield Corp	Pair Corr
0.88	BX	Blackstone Group	Pair Corr
0.87	BY	Byline Bancorp	Pair Corr
0.86	CG	Carlyle Group Sell-off Trend	Pair Corr
0.81	FG	FG Annuities Life	Pair Corr
0.85	GS	Goldman Sachs Group	Pair Corr
0.85	LC	LendingClub Corp	Pair Corr
0.66	MA	Mastercard	Pair Corr
0.9	MC	Moelis	Pair Corr
0.86	MS	Morgan Stanley	Pair Corr
0.69	NU	Nu Holdings	Pair Corr
0.88	PB	Prosperity Bancshares	Pair Corr

Moving against Magic Stock

0.64	DB	Deutsche Bank AG Sell-off Trend	Pair Corr
0.6	BOWN	Bowen Acquisition Corp	Pair Corr
0.6	CB	Chubb	Pair Corr
0.49	EG	Everest Group	Pair Corr
0.42	DMYY	dMY Squared Technology	Pair Corr
0.63	TECTP	Tectonic Financial	Pair Corr
0.55	VALU	Value Line	Pair Corr
0.45	RJF-PB	Raymond James Financial	Pair Corr
0.41	TW	Tradeweb Markets	Pair Corr
0.41	WF	Woori Financial Group	Pair Corr

Related Correlations Analysis

	VKI	VKQ	VCV	VGM	IQI	VMO	CXE	KTF	HLNE	DHIL
VKI		0.97	0.96	0.93	0.97	0.97	0.87	0.95	0.63	0.8	VKI
VKQ	0.97		0.94	0.97	0.99	0.97	0.9	0.96	0.55	0.87	VKQ
VCV	0.96	0.94		0.93	0.94	0.93	0.9	0.96	0.63	0.84	VCV
VGM	0.93	0.97	0.93		0.97	0.93	0.93	0.95	0.46	0.89	VGM
IQI	0.97	0.99	0.94	0.97		0.97	0.9	0.95	0.54	0.87	IQI
VMO	0.97	0.97	0.93	0.93	0.97		0.86	0.94	0.59	0.8	VMO
CXE	0.87	0.9	0.9	0.93	0.9	0.86		0.95	0.35	0.84	CXE
KTF	0.95	0.96	0.96	0.95	0.95	0.94	0.95		0.51	0.83	KTF
HLNE	0.63	0.55	0.63	0.46	0.54	0.59	0.35	0.51		0.44	HLNE
DHIL	0.8	0.87	0.84	0.89	0.87	0.8	0.84	0.83	0.44		DHIL
	VKI	VKQ	VCV	VGM	IQI	VMO	CXE	KTF	HLNE	DHIL

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Risk-Adjusted Indicators

There is a big difference between Magic Stock performing well and Magic Empire 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 Magic Empire'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
VKI	0.66	0.00	0.00	(0.12)	0.00	0.00	1.22	(2.07)	5.41
VKQ	0.65	(0.03)	0.00	(0.20)	0.00	0.00	1.43	(1.87)	4.26
VCV	0.79	(0.02)	0.00	(0.20)	0.00	0.00	1.90	(1.67)	7.23
VGM	0.61	(0.01)	0.00	(0.15)	0.00	0.00	1.01	(1.47)	4.49
IQI	0.66	(0.01)	0.00	(0.15)	0.00	0.00	1.30	(2.15)	5.01
VMO	0.55	(0.02)	0.00	(0.18)	0.00	0.00	1.06	(1.40)	4.52
CXE	0.59	(0.07)	0.00	0.45	0.00	0.00	0.86	(1.37)	4.49
KTF	0.46	(0.03)	0.00	(1.19)	0.00	0.00	0.85	(1.69)	3.36
HLNE	2.55	0.27	0.05	0.04	3.40	(2.55)	4.15	(5.57)	22.26
DHIL	1.15	(0.02)	0.00	(0.15)	0.00	0.00	2.26	(2.86)	8.03

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