Andretti Acquisition Correlations

POLEU Stock

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The current 90-days correlation between Andretti Acquisition Corp and Comstock Holding Companies is 0.02 (i.e., Significant diversification). The correlation of Andretti Acquisition 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.

Andretti Acquisition Correlation With Market

Good diversification

The correlation between Andretti Acquisition Corp and DJI is -0.07 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Andretti Acquisition Corp and DJI in the same portfolio, assuming nothing else is changed.

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Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in Andretti Acquisition 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 income.

Moving together with Andretti Stock

0.66	DMAA	Drugs Made In	Pair Corr
0.65	VACH	Voyager Acquisition Corp	Pair Corr
0.68	VCIC	Vine Hill Capital	Pair Corr
0.68	DTSQ	DT Cloud Star	Pair Corr
0.63	DYNX	Dynamix Class	Pair Corr
0.7	NPACU	New Providence Acqui	Pair Corr
0.76	BACQR	Bleichroeder Acquisition	Pair Corr
0.61	BACQU	Bleichroeder Acquisition	Pair Corr
0.68	DISTR	Distoken Acquisition	Pair Corr
0.69	WLAC	Willow Lane Acquisition	Pair Corr
0.66	GDSTW	Goldenstone Acquisition	Pair Corr
0.74	FERA	Fifth Era Acquisition	Pair Corr
0.68	FGMC	FG Merger II	Pair Corr
0.66	BAYAU	Bayview Acquisition Corp	Pair Corr
0.68	AAM	AA Mission Acquisition	Pair Corr
0.69	FACTU	FACT II Acquisition	Pair Corr
0.62	ALF	Centurion Acquisition	Pair Corr
0.64	CUB	Lionheart Holdings	Pair Corr
0.65	EQV	EQV Ventures Acquisition	Pair Corr
0.71	FVN	Future Vision II	Pair Corr
0.68	GIG	GigCapital7 Corp Class	Pair Corr

Moving against Andretti Stock

0.32	FACT	FACT II Acquisition	Pair Corr
0.31	GDSTU	Goldenstone Acquisition	Pair Corr
0.57	FSHPR	Flag Ship Acquisition	Pair Corr

Related Correlations Analysis

	CHCI	FDUS	TNDM	ORIQU	GGDVF	MTG	JYNT	TOMDF
CHCI		0.39	-0.47	-0.13	0.41	-0.12	0.27	0.0	CHCI
FDUS	0.39		-0.26	-0.19	0.59	0.49	0.64	0.0	FDUS
TNDM	-0.47	-0.26		0.17	-0.6	0.37	-0.28	0.0	TNDM
ORIQU	-0.13	-0.19	0.17		-0.19	-0.23	-0.13	0.0	ORIQU
GGDVF	0.41	0.59	-0.6	-0.19		0.34	0.66	0.0	GGDVF
MTG	-0.12	0.49	0.37	-0.23	0.34		0.45	0.0	MTG
JYNT	0.27	0.64	-0.28	-0.13	0.66	0.45		0.0	JYNT
TOMDF	0.0	0.0	0.0	0.0	0.0	0.0	0.0		TOMDF
	CHCI	FDUS	TNDM	ORIQU	GGDVF	MTG	JYNT	TOMDF

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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

JYNT	+ 0.66	GGDVF
JYNT	+ 0.64	FDUS
GGDVF	+ 0.59	FDUS
MTG	+ 0.49	FDUS
JYNT	+ 0.45	MTG
GGDVF	+ 0.41	CHCI

High negative correlations

GGDVF	- 0.6	TNDM
TNDM	- 0.47	CHCI
JYNT	- 0.28	TNDM
TNDM	- 0.26	FDUS
MTG	- 0.23	ORIQU
GGDVF	- 0.19	ORIQU

Risk-Adjusted Indicators

There is a big difference between Andretti Stock performing well and Andretti Acquisition 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 Andretti Acquisition'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
CHCI	3.28	0.44	0.10	1.18	3.39	(3.87)	7.72	(5.00)	24.36
FDUS	0.87	0.26	0.18	0.75	0.66	(1.02)	1.87	(1.30)	5.04
TNDM	2.82	(0.30)	0.00	(0.13)	0.00	0.00	6.64	(4.67)	26.53
ORIQU	0.11	0.02	0.00	5.11	0.00	0.00	0.30	(0.10)	0.40
GGDVF	0.16	0.07	0.00	(0.27)	0.00	0.00	0.00	0.00	5.19
MTG	1.17	(0.08)	(0.04)	0.06	1.53	(1.18)	2.42	(2.46)	7.29
JYNT	2.44	0.24	0.01	(0.38)	3.10	(2.70)	6.09	(5.13)	20.40
TOMDF	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00

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