Nextplat Corp Correlations

NXPL Stock

USD 0.79 0.02 2.47%

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

Nextplat Corp Correlation With Market

Modest diversification

The correlation between Nextplat Corp and DJI is 0.21 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Nextplat Corp and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Nextplat Stock

Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in Nextplat 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 american community survey.

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

Moving together with Nextplat Stock

0.8	U	Unity Software Aggressive Push	Pair Corr
0.85	AI	C3 Ai Inc	Pair Corr
0.79	BL	Blackline	Pair Corr
0.79	DT	Dynatrace Holdings LLC	Pair Corr
0.89	DV	DoubleVerify Holdings	Pair Corr
0.79	EB	Eventbrite Class A	Pair Corr
0.77	VS	Versus Systems	Pair Corr
0.91	DOMO	Domo Inc Upward Rally	Pair Corr
0.84	VERB	Verb Technology	Pair Corr
0.79	VTEX	VTEX Downward Rally	Pair Corr
0.93	EGAN	eGain	Pair Corr
0.68	EGHT	8x8 Common Stock	Pair Corr
0.88	ETWO	E2open Parent Holdings	Pair Corr
0.84	API	Agora Inc	Pair Corr

Moving against Nextplat Stock

0.66	VERX	Vertex	Pair Corr
0.33	VBIX	Viewbix Common Stock	Pair Corr
0.31	WK	Workiva	Pair Corr
0.86	VMEO	Vimeo Inc	Pair Corr
0.84	WETO	Webus International Tech Boost	Pair Corr
0.67	EPWK	EPWK Holdings	Pair Corr
0.66	EXFY	Expensify	Pair Corr
0.63	WALDW	Waldencast Acquisition	Pair Corr
0.61	FICO	Fair Isaac	Pair Corr
0.76	FRGT	Freight Technologies	Pair Corr
0.58	HKD	AMTD Digital Earnings Call This Week	Pair Corr

Related Correlations Analysis

	AGGG	CXAI	IONI	LIF	RBTI	RCMH	SLLN	TTCM
AGGG		0.0	0.0	0.0	1.0	1.0	0.0	1.0	AGGG
CXAI	0.0		-0.41	-0.52	0.0	0.0	0.0	0.0	CXAI
IONI	0.0	-0.41		0.57	0.0	0.0	0.0	0.0	IONI
LIF	0.0	-0.52	0.57		0.0	0.0	0.0	0.0	LIF
RBTI	1.0	0.0	0.0	0.0		1.0	0.0	1.0	RBTI
RCMH	1.0	0.0	0.0	0.0	1.0		0.0	1.0	RCMH
SLLN	0.0	0.0	0.0	0.0	0.0	0.0		0.0	SLLN
TTCM	1.0	0.0	0.0	0.0	1.0	1.0	0.0		TTCM
	AGGG	CXAI	IONI	LIF	RBTI	RCMH	SLLN	TTCM

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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

RBTI	+ 1.0	AGGG
RCMH	+ 1.0	AGGG
TTCM	+ 1.0	AGGG
RCMH	+ 1.0	RBTI
TTCM	+ 1.0	RBTI
TTCM	+ 1.0	RCMH

High negative correlations

LIF	- 0.52	CXAI
IONI	- 0.41	CXAI
TTCM	- 0.0	SLLN
SLLN	- 0.0	RCMH
SLLN	- 0.0	RBTI
TTCM	- 0.0	LIF

Risk-Adjusted Indicators

There is a big difference between Nextplat Stock performing well and Nextplat 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 Nextplat 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
AGGG	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
CXAI	3.54	(0.40)	0.00	(0.01)	0.00	0.00	6.67	(5.41)	39.09
IONI	8.98	2.94	0.25	(6.11)	8.48	(11.32)	21.62	(15.56)	51.04
LIF	2.00	1.02	0.48	1.16	1.08	(2.36)	5.04	(3.22)	24.26
RBTI	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
RCMH	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
SLLN	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
TTCM	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00

Nextplat Corp Corporate Management

Robert CPA	Chief Officer	Profile
CPA Phillip	Chief Officer	Profile
Theresa Carlise	Controller, Officer	Profile
Douglas Ellenoff	Chief Chairman	Profile
Charles Fernandez	CEO Chairman	Profile
Cecile Munnik	Chief Officer	Profile

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