Northann Corp Correlations

NCL Stock

0.18 0.01 5.26%

The current 90-days correlation between Northann Corp and Melco Resorts Entertainment is 0.02 (i.e., Significant diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Northann Corp moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Northann Corp moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Northann Corp Correlation With Market

Good diversification

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

Build AI portfolio with Northann Stock

Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in Northann 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 main economic indicators.

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

Moving together with Northann Stock

0.92

MWYN

Marwynn Holdings, Common

Pair Corr

Moving against Northann Stock

0.63	FLXS	Flexsteel Industries	Pair Corr
0.55	F-PD	F PD	Pair Corr
0.51	F-PB	Ford Motor	Pair Corr
0.47	MB	MasterBeef Group Ordinary	Pair Corr
0.45	ETD	Ethan Allen Interiors	Pair Corr
0.43	CYD	China Yuchai Interna	Pair Corr
0.41	F-PC	Ford Motor	Pair Corr
0.39	FIGS	Figs Inc	Pair Corr
0.35	AGS	PlayAGS	Pair Corr
0.31	VIOT	Viomi Technology ADR	Pair Corr
0.31	WPRT	Westport Fuel Systems	Pair Corr
0.31	AIN	Albany International	Pair Corr
0.73	IPW	iPower Inc	Pair Corr
0.5	IBP	Installed Building	Pair Corr
0.46	GHG	GreenTree Hospitality	Pair Corr
0.43	GEF	Greif Bros	Pair Corr
0.42	HOV	Hovnanian Enterprises	Pair Corr
0.37	FLL	Full House Resorts	Pair Corr
0.37	GGR	Gogoro Inc	Pair Corr

Related Correlations Analysis

	MLCO	SHAK	RSVR	NTGR	RLJ-PA	INN	KVHI
MLCO		0.84	0.73	0.57	0.63	0.95	0.65	MLCO
SHAK	0.84		0.74	0.76	0.68	0.88	0.84	SHAK
RSVR	0.73	0.74		0.57	0.59	0.74	0.65	RSVR
NTGR	0.57	0.76	0.57		0.75	0.54	0.57	NTGR
RLJ-PA	0.63	0.68	0.59	0.75		0.58	0.53	RLJ-PA
INN	0.95	0.88	0.74	0.54	0.58		0.68	INN
KVHI	0.65	0.84	0.65	0.57	0.53	0.68		KVHI
	MLCO	SHAK	RSVR	NTGR	RLJ-PA	INN	KVHI

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Risk-Adjusted Indicators

There is a big difference between Northann Stock performing well and Northann Corp 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 Northann Corp'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
MLCO	1.96	0.77	0.41	0.72	1.24	(2.48)	5.07	(2.79)	12.73
SHAK	1.71	0.58	0.39	0.56	1.08	(2.12)	3.49	(2.56)	11.41
RSVR	1.65	(0.12)	(0.02)	0.05	2.23	(1.65)	3.19	(3.51)	13.61
NTGR	2.02	0.21	0.11	0.32	1.74	(2.64)	5.16	(2.66)	22.43
RLJ-PA	0.47	0.05	(0.04)	0.32	0.66	(0.47)	0.96	(1.08)	4.47
INN	2.02	0.26	0.16	0.29	1.75	(2.37)	5.81	(2.90)	12.85
KVHI	1.18	0.15	0.01	8.00	1.22	(1.55)	4.32	(2.21)	9.24

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