Powell Max Correlations

PMAX Stock

0.38 0.01 2.56%

The current 90-days correlation between Powell Max Limited and JetAI Inc is -0.21 (i.e., Very good diversification). The correlation of Powell Max 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.

Powell Max Correlation With Market

Good diversification

The correlation between Powell Max Limited 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 Powell Max Limited and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Powell Stock

Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in Powell Max Limited. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in nation.

Moving against Powell Stock

0.5	JD	JD Inc Adr Aggressive Push	Pair Corr
0.42	CAL	Continental	Pair Corr
0.4	AZI	Autozi Internet Tech	Pair Corr
0.33	AEO	American Eagle Outfitters Sell-off Trend	Pair Corr

Related Correlations Analysis

	BILL	PRIM	GFF	QLYS	FMC	JTAI	ASUR	CPAC
BILL		0.58	0.64	0.54	0.26	0.22	0.72	0.35	BILL
PRIM	0.58		0.82	0.87	0.62	-0.34	0.6	0.84	PRIM
GFF	0.64	0.82		0.61	0.51	-0.21	0.76	0.64	GFF
QLYS	0.54	0.87	0.61		0.68	-0.34	0.57	0.86	QLYS
FMC	0.26	0.62	0.51	0.68		-0.66	0.51	0.8	FMC
JTAI	0.22	-0.34	-0.21	-0.34	-0.66		-0.18	-0.52	JTAI
ASUR	0.72	0.6	0.76	0.57	0.51	-0.18		0.53	ASUR
CPAC	0.35	0.84	0.64	0.86	0.8	-0.52	0.53		CPAC
	BILL	PRIM	GFF	QLYS	FMC	JTAI	ASUR	CPAC

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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

QLYS	+ 0.87	PRIM
CPAC	+ 0.86	QLYS
CPAC	+ 0.84	PRIM
GFF	+ 0.82	PRIM
CPAC	+ 0.8	FMC
ASUR	+ 0.76	GFF

High negative correlations

JTAI	- 0.66	FMC
CPAC	- 0.52	JTAI
JTAI	- 0.34	QLYS
JTAI	- 0.34	PRIM
JTAI	- 0.21	GFF
ASUR	- 0.18	JTAI

Risk-Adjusted Indicators

There is a big difference between Powell Stock performing well and Powell Max 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 Powell Max'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
BILL	1.86	(0.02)	0.02	0.12	2.36	(1.95)	4.24	(3.58)	11.77
PRIM	1.88	0.51	0.23	0.57	1.81	(2.16)	3.82	(2.94)	14.43
GFF	1.55	(0.07)	0.01	0.09	1.87	(1.61)	3.12	(3.31)	10.17
QLYS	1.28	0.05	0.03	0.17	1.51	(1.31)	3.16	(2.81)	8.67
FMC	1.83	0.08	0.04	0.21	2.18	(2.24)	4.44	(3.30)	12.01
JTAI	3.13	(0.09)	(0.04)	0.00	3.41	(3.98)	6.38	(5.70)	18.82
ASUR	2.00	(0.03)	0.00	0.11	2.17	(2.35)	4.86	(3.94)	11.91
CPAC	1.17	0.23	0.04	(1.57)	1.38	(1.32)	3.19	(2.92)	9.68

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