WE Source Correlations

WESC Stock

USD 0.0001 0.00 0.00%

The current 90-days correlation between WE Source Corp and Nextplat Corp is 0.07 (i.e., Significant diversification). The correlation of WE Source 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.

WE Source Correlation With Market

Good diversification

The correlation between WE Source 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 WE Source Corp and DJI in the same portfolio, assuming nothing else is changed.

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Check out Your Current Watchlist to better understand how to build diversified portfolios, which includes a position in WE Source 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 state.

Moving together with WESC Stock

0.88	SG	Sweetgreen	Pair Corr
0.89	DNUT	Krispy Kreme	Pair Corr
0.85	EJH	E Home Household	Pair Corr
0.74	FWRG	First Watch Restaurant	Pair Corr
0.69	BTBDW	BT Brands Warrant	Pair Corr
0.71	WEN	The Wendys	Pair Corr
0.8	ZSPC	zSpace, Common stock	Pair Corr

Moving against WESC Stock

0.86	WING	Wingstop	Pair Corr
0.86	MAR	Marriott International	Pair Corr
0.83	H	Hyatt Hotels Earnings Call This Week	Pair Corr
0.83	DIN	Dine Brands Global	Pair Corr
0.82	CSV	Carriage Services	Pair Corr
0.81	HLT	Hilton Worldwide Holdings Earnings Call This Week	Pair Corr
0.8	IHG	InterContinental Hotels	Pair Corr
0.78	BYD	Boyd Gaming Earnings Call This Week	Pair Corr
0.76	RRR	Red Rock Resorts Earnings Call Tomorrow	Pair Corr
0.73	CUK	Carnival Plc ADS	Pair Corr
0.69	DRI	Darden Restaurants	Pair Corr
0.68	BH	Biglari Holdings	Pair Corr
0.65	WYNN	Wynn Resorts Limited	Pair Corr
0.6	DKNG	DraftKings	Pair Corr
0.6	BDL	Flanigans Enterprises	Pair Corr
0.58	FLUT	Flutter Entertainment plc	Pair Corr
0.57	EM	Smart Share Global	Pair Corr
0.56	EAT	Brinker International	Pair Corr
0.55	CMG	Chipotle Mexican Grill Earnings Call This Week	Pair Corr
0.48	XPOF	Xponential Fitness	Pair Corr
0.46	CZR	Caesars Entertainment	Pair Corr
0.4	CHH	Choice Hotels Intern	Pair Corr
0.9	TXRH	Texas Roadhouse Earnings Call This Week	Pair Corr
0.89	BJRI	BJs Restaurants Earnings Call This Week	Pair Corr
0.87	SHAK	Shake Shack	Pair Corr
0.81	CBRL	Cracker Barrel Old	Pair Corr
0.79	LIND	Lindblad Expeditions	Pair Corr
0.78	RAVE	Rave Restaurant Group	Pair Corr
0.75	W	Wayfair	Pair Corr
0.73	NATH	Nathans Famous	Pair Corr

Related Correlations Analysis

	NXPL	SPHR	SLF	BCE	ESNT	UVE
NXPL		0.91	0.73	0.71	0.47	0.43	NXPL
SPHR	0.91		0.83	0.58	0.57	0.6	SPHR
SLF	0.73	0.83		0.19	0.73	0.9	SLF
BCE	0.71	0.58	0.19		0.01	-0.14	BCE
ESNT	0.47	0.57	0.73	0.01		0.73	ESNT
UVE	0.43	0.6	0.9	-0.14	0.73		UVE
	NXPL	SPHR	SLF	BCE	ESNT	UVE

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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

SPHR	+ 0.91	NXPL
UVE	+ 0.9	SLF
SLF	+ 0.83	SPHR
SLF	+ 0.73	NXPL
ESNT	+ 0.73	SLF
UVE	+ 0.73	ESNT

High negative correlations

UVE

- 0.14

BCE

Risk-Adjusted Indicators

There is a big difference between WESC Stock performing well and WE Source 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 WE Source'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
NXPL	3.66	0.51	0.12	0.61	3.52	(4.68)	9.59	(5.88)	22.93
SPHR	2.33	0.65	0.27	0.49	2.24	(2.80)	6.04	(4.33)	17.58
SLF	0.68	0.10	0.02	0.38	0.88	(0.78)	1.16	(1.03)	7.69
BCE	1.15	0.17	0.02	(1.84)	1.19	(1.35)	2.19	(1.87)	7.86
ESNT	1.03	(0.13)	(0.09)	0.00	1.45	(0.96)	1.93	(2.50)	6.44
UVE	1.43	0.09	0.03	0.26	1.46	(1.70)	3.11	(2.22)	10.44

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