Netcapital Correlations

NCPL Stock

USD 3.24 0.27 9.09%

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

Netcapital Correlation With Market

Average diversification

The correlation between Netcapital and DJI is 0.11 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Netcapital and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Netcapital Stock

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

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

Moving together with Netcapital Stock

0.8	GS	Goldman Sachs Group	Pair Corr
0.74	AXP	American Express	Pair Corr
0.75	COF	Capital One Financial Earnings Call This Week	Pair Corr
0.71	SCM	Stellus Capital Inve	Pair Corr
0.61	GLAD	Gladstone Capital	Pair Corr
0.66	HTGC	Hercules Capital	Pair Corr
0.71	MAIN	Main Street Capital	Pair Corr
0.61	PFLT	PennantPark Floating Rate	Pair Corr
0.81	ALLY	Ally Financial	Pair Corr
0.64	ARCC	Ares Capital	Pair Corr
0.65	TPVG	Triplepoint Venture	Pair Corr
0.69	TSLX	Sixth Street Specialty	Pair Corr
0.78	CSWC	Capital Southwest	Pair Corr
0.73	C	Citigroup Aggressive Push	Pair Corr
0.72	L	Loews Corp	Pair Corr
0.72	DHIL	Diamond Hill Investment	Pair Corr
0.73	AX	Axos Financial	Pair Corr
0.62	BN	Brookfield Corp	Pair Corr
0.61	BX	Blackstone Group Normal Trading	Pair Corr
0.71	CG	Carlyle Group Earnings Call This Week	Pair Corr
0.72	CM	Canadian Imperial Bank	Pair Corr
0.63	DB	Deutsche Bank AG Earnings Call This Week	Pair Corr
0.8	IX	Orix Corp Ads	Pair Corr

Moving against Netcapital Stock

0.44	PSEC	Prospect Capital	Pair Corr
0.42	LX	Lexinfintech Holdings	Pair Corr
0.41	EG	Everest Group	Pair Corr
0.33	FG	FG Annuities Life	Pair Corr
0.33	PX	P10 Inc	Pair Corr
0.32	CB	Chubb Earnings Call Tomorrow	Pair Corr

Related Correlations Analysis

	MEGL	APLD	TOP	SAIH	SMFL	ZVSA	HTCR	PXMD	ILAG
MEGL		0.48	0.35	0.4	0.0	-0.02	-0.34	0.0	0.63	MEGL
APLD	0.48		0.41	0.58	0.0	-0.11	-0.48	0.0	0.69	APLD
TOP	0.35	0.41		0.09	0.0	-0.2	0.06	0.0	0.16	TOP
SAIH	0.4	0.58	0.09		0.0	-0.57	-0.57	0.0	0.63	SAIH
SMFL	0.0	0.0	0.0	0.0		0.0	0.0	0.0	0.0	SMFL
ZVSA	-0.02	-0.11	-0.2	-0.57	0.0		0.17	0.0	-0.11	ZVSA
HTCR	-0.34	-0.48	0.06	-0.57	0.0	0.17		0.0	-0.63	HTCR
PXMD	0.0	0.0	0.0	0.0	0.0	0.0	0.0		0.0	PXMD
ILAG	0.63	0.69	0.16	0.63	0.0	-0.11	-0.63	0.0		ILAG
	MEGL	APLD	TOP	SAIH	SMFL	ZVSA	HTCR	PXMD	ILAG

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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

ILAG	+ 0.69	APLD
ILAG	+ 0.63	MEGL
ILAG	+ 0.63	SAIH
SAIH	+ 0.58	APLD
APLD	+ 0.48	MEGL
TOP	+ 0.41	APLD

High negative correlations

ILAG	- 0.63	HTCR
HTCR	- 0.57	SAIH
ZVSA	- 0.57	SAIH
HTCR	- 0.48	APLD
HTCR	- 0.34	MEGL
ZVSA	- 0.2	TOP

Risk-Adjusted Indicators

There is a big difference between Netcapital Stock performing well and Netcapital 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 Netcapital'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
MEGL	5.03	0.58	0.15	0.47	3.80	(7.41)	7.08	(6.67)	78.45
APLD	6.22	1.57	0.20	1.86	6.60	(7.72)	18.60	(6.52)	59.09
TOP	2.27	0.00	0.00	0.13	2.56	(3.02)	6.40	(4.65)	18.01
SAIH	7.63	2.01	0.22	9.96	7.24	(8.68)	22.36	(12.81)	44.71
SMFL	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
ZVSA	6.32	(2.14)	0.00	(4.19)	0.00	0.00	9.38	(17.95)	67.27
HTCR	4.44	(0.45)	0.00	(0.16)	0.00	0.00	9.30	(10.81)	41.87
PXMD	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
ILAG	5.06	0.93	0.07	(0.41)	6.50	(6.47)	10.64	(10.00)	52.34

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