NeoVolta Common Correlations

NEOV Stock

USD 3.29 0.08 2.49%

The current 90-days correlation between NeoVolta Common Stock and Lifevantage is 0.27 (i.e., Modest diversification). The correlation of NeoVolta Common 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.

NeoVolta Common Correlation With Market

Modest diversification

The correlation between NeoVolta Common Stock and DJI is 0.28 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding NeoVolta Common Stock and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with NeoVolta Stock

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

Moving together with NeoVolta Stock

0.61	ELVA	Electrovaya Common Shares Potential Growth	Pair Corr
0.62	AYI	Acuity Brands	Pair Corr
0.66	ESP	Espey Mfg Electronics	Pair Corr
0.79	NVT	nVent Electric PLC	Pair Corr
0.8	VRT	Vertiv Holdings	Pair Corr
0.81	HAYW	Hayward Holdings	Pair Corr
0.73	HUBB	Hubbell	Pair Corr
0.79	NEOVW	NeoVolta Warrant	Pair Corr
0.83	ATKR	Atkore International	Pair Corr
0.74	SKYX	SKYX Platforms Corp	Pair Corr

Moving against NeoVolta Stock

0.56	ADSEW	ADS TEC ENERGY	Pair Corr
0.44	GWH	ESS Tech	Pair Corr
0.37	ADN	Advent Technologies	Pair Corr
0.36	STI	Solidion Technology	Pair Corr
0.32	SDSTW	Stardust Power Symbol Change	Pair Corr
0.64	DFLI	Chardan NexTech Acqu	Pair Corr
0.63	POLA	Polar Power	Pair Corr
0.45	G	Genpact Limited	Pair Corr
0.43	DFLIW	Chardan NexTech Acqu	Pair Corr

Related Correlations Analysis

	MGRC	BNL	AER	LFVN	AL	GNL-PD	TBBB
MGRC		0.43	0.89	-0.13	0.93	0.65	0.09	MGRC
BNL	0.43		0.39	0.04	0.34	0.62	-0.04	BNL
AER	0.89	0.39		-0.46	0.97	0.72	0.25	AER
LFVN	-0.13	0.04	-0.46		-0.36	-0.36	-0.44	LFVN
AL	0.93	0.34	0.97	-0.36		0.65	0.19	AL
GNL-PD	0.65	0.62	0.72	-0.36	0.65		0.53	GNL-PD
TBBB	0.09	-0.04	0.25	-0.44	0.19	0.53		TBBB
	MGRC	BNL	AER	LFVN	AL	GNL-PD	TBBB

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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

AL	+ 0.97	AER
AL	+ 0.93	MGRC
AER	+ 0.89	MGRC
GNL-PD	+ 0.72	AER
GNL-PD	+ 0.65	MGRC
GNL-PD	+ 0.65	AL

High negative correlations

LFVN	- 0.46	AER
TBBB	- 0.44	LFVN
GNL-PD	- 0.36	LFVN
AL	- 0.36	LFVN
LFVN	- 0.13	MGRC
TBBB	- 0.04	BNL

Risk-Adjusted Indicators

There is a big difference between NeoVolta Stock performing well and NeoVolta Common 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 NeoVolta Common'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
MGRC	1.47	0.05	0.02	0.17	1.76	(1.53)	2.85	(2.66)	9.82
BNL	1.15	(0.09)	0.00	(0.06)	0.00	0.00	2.12	(2.98)	7.27
AER	1.26	0.10	0.04	0.20	2.22	(1.23)	2.65	(2.93)	12.33
LFVN	2.80	(0.16)	0.00	(0.02)	0.00	0.00	6.13	(6.62)	20.13
AL	1.69	0.22	0.08	0.27	2.71	(1.66)	3.49	(3.19)	17.06
GNL-PD	0.85	(0.04)	(0.06)	0.02	1.48	(0.80)	1.89	(1.62)	5.43
TBBB	1.74	0.01	(0.01)	0.12	3.02	(1.56)	4.05	(3.56)	14.60

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