MKDWELL Tech Correlations

Stocks . USA . 
Stock . MKDWELL Tech Ordinary
MKDW Stock   0.22  0.01  4.76%   
The current 90-days correlation between MKDWELL Tech Ordinary and Enel Chile SA is 0.3 (i.e., Weak diversification). The correlation of MKDWELL Tech 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.

MKDWELL Tech Correlation With Market

Weak diversification

The correlation between MKDWELL Tech Ordinary 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 MKDWELL Tech Ordinary and DJI in the same portfolio, assuming nothing else is changed.
  
Build AI portfolio with MKDWELL Stock
Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in MKDWELL Tech 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 unemployment.

Moving together with MKDWELL Stock

  0.78IT GartnerPairCorr

Moving against MKDWELL Stock

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Related Correlations Analysis

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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   
B
+ 0.5
NI
NEE-PS
+ 0.45
ENIC
NEE-PS
+ 0.34
NI
B
+ 0.29
NEE-PS
NI
+ 0.07
ENIC
GRMC
+ 0.0
ENIC
  
High negative correlations   
CRZNF
- 1.0
GRMC
B
- 0.74
IONR
IONR
- 0.54
NI
NEE-PS
- 0.42
IONR
B
- 0.24
ENIC
IONR
- 0.19
ENIC

Risk-Adjusted Indicators

There is a big difference between MKDWELL Stock performing well and MKDWELL Tech 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 MKDWELL Tech'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.

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