Skillz Platform Correlations

SKLZ Stock

USD 6.95 0.07 1.00%

The current 90-days correlation between Skillz Platform and Nano Dimension is 0.08 (i.e., Significant diversification). The correlation of Skillz Platform 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.

Skillz Platform Correlation With Market

Weak diversification

The correlation between Skillz Platform and DJI is 0.39 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Skillz Platform and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Skillz Stock

Check out World Market Map to better understand how to build diversified portfolios, which includes a position in Skillz Platform. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in bureau of economic analysis.

For more information on how to buy Skillz Stock please use our How to Invest in Skillz Platform guide.

Moving together with Skillz Stock

0.78	GCL	GCL Global Holdings	Pair Corr
0.64	GDC	GD Culture Group	Pair Corr
0.73	GMHS	Gamehaus Holdings Class	Pair Corr
0.71	GRVY	Gravity	Pair Corr
0.73	GXAI	Gaxosai	Pair Corr
0.77	MSGM	Motorsport Gaming	Pair Corr
0.9	NTES	NetEase	Pair Corr
0.9	RBLX	Roblox Corp	Pair Corr
0.62	SNAL	Snail, Class A	Pair Corr
0.75	SOHU	SohuCom	Pair Corr
0.82	TTWO	Take Two Interactive	Pair Corr
0.73	Z	Zillow Group Class	Pair Corr
0.81	KT	KT Corporation Potential Growth	Pair Corr
0.8	SE	Sea	Pair Corr
0.63	SY	So Young International Trending	Pair Corr
0.83	TC	TuanChe ADR	Pair Corr
0.92	TU	Telus Corp	Pair Corr
0.82	TV	Grupo Televisa SAB Earnings Call This Week	Pair Corr
0.87	WB	Weibo Corp	Pair Corr

Moving against Skillz Stock

0.87	TRUG	Trugolf	Pair Corr
0.86	BHAT	Blue Hat Interactive	Pair Corr
0.73	GIGM	Giga Media	Pair Corr
0.63	GMGI	Golden Matrix Group	Pair Corr
0.57	GDEVW	Nexters Warrant	Pair Corr
0.48	PLTK	Playtika Holding Corp	Pair Corr
0.71	WIMI	WiMi Hologram Cloud	Pair Corr
0.44	ANGHW	Anghami Warrants	Pair Corr
0.4	DRCT	Direct Digital Holdings	Pair Corr
0.32	VZ	Verizon Communications Earnings Call This Week	Pair Corr

Related Correlations Analysis

	RBLX	BILI	TTWO	NTDOY	OPEN	FUBO	NNDM	LMND	CLOV
RBLX		0.93	0.8	0.74	0.12	0.69	-0.21	0.91	-0.83	RBLX
BILI	0.93		0.71	0.69	0.31	0.59	-0.09	0.81	-0.72	BILI
TTWO	0.8	0.71		0.82	-0.24	0.56	0.0	0.83	-0.69	TTWO
NTDOY	0.74	0.69	0.82		-0.16	0.47	0.1	0.76	-0.72	NTDOY
OPEN	0.12	0.31	-0.24	-0.16		-0.1	0.03	-0.13	0.2	OPEN
FUBO	0.69	0.59	0.56	0.47	-0.1		-0.07	0.65	-0.68	FUBO
NNDM	-0.21	-0.09	0.0	0.1	0.03	-0.07		-0.29	0.29	NNDM
LMND	0.91	0.81	0.83	0.76	-0.13	0.65	-0.29		-0.86	LMND
CLOV	-0.83	-0.72	-0.69	-0.72	0.2	-0.68	0.29	-0.86		CLOV
	RBLX	BILI	TTWO	NTDOY	OPEN	FUBO	NNDM	LMND	CLOV

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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

BILI	+ 0.93	RBLX
LMND	+ 0.91	RBLX
LMND	+ 0.83	TTWO
NTDOY	+ 0.82	TTWO
LMND	+ 0.81	BILI
TTWO	+ 0.8	RBLX

High negative correlations

CLOV	- 0.86	LMND
CLOV	- 0.83	RBLX
CLOV	- 0.72	NTDOY
CLOV	- 0.72	BILI
CLOV	- 0.69	TTWO
CLOV	- 0.68	FUBO

Risk-Adjusted Indicators

There is a big difference between Skillz Stock performing well and Skillz Platform 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 Skillz Platform'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
RBLX	1.64	1.14	0.59	2.44	0.74	(2.18)	4.80	(2.48)	11.70
BILI	2.24	0.51	0.20	0.67	1.89	(2.50)	7.35	(3.54)	12.55
TTWO	1.25	0.07	0.00	0.28	1.95	(1.25)	2.89	(2.85)	11.07
NTDOY	1.80	0.24	0.09	0.65	1.69	(2.29)	4.10	(3.73)	11.08
OPEN	6.55	1.60	0.21	1.26	6.21	(8.27)	18.92	(11.36)	47.27
FUBO	3.26	0.11	0.04	0.20	4.28	(3.69)	7.55	(6.41)	22.67
NNDM	1.97	(0.12)	(0.03)	0.04	2.29	(2.56)	4.73	(4.29)	14.14
LMND	3.01	0.47	0.17	0.36	3.17	(3.53)	6.99	(4.86)	21.29
CLOV	2.46	(0.40)	0.00	(0.30)	0.00	0.00	4.95	(6.29)	19.36

Skillz Platform Corporate Management

Christopher Gaffney	Independent Director	Profile
Stefan Gerhard	VP Fin	Profile
Stanley Mbugua	Chief Accounting Officer	Profile
Charlotte Edelman	General Counsel and Corporate Secretary	Profile
Vandana Krantz	Independent Director	Profile

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