ZKH Group Correlations

Stocks . USA . 
Stock . ZKH Group Limited
ZKH Stock   3.13  0.03  0.97%   
The current 90-days correlation between ZKH Group Limited and Fidus Investment Corp is 0.04 (i.e., Significant diversification). The correlation of ZKH Group 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.

ZKH Group Correlation With Market

Very weak diversification

The correlation between ZKH Group Limited and DJI is 0.45 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding ZKH Group Limited and DJI in the same portfolio, assuming nothing else is changed.
  
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Moving together with ZKH Stock

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Moving against ZKH Stock

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Related Correlations Analysis

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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   
KALU
+ 0.94
FDUS
TNJIF
+ 0.94
GROW
KALU
+ 0.86
ASTL
GROW
+ 0.84
ASTL
GROW
+ 0.84
KALU
ASTL
+ 0.8
FDUS
  
High negative correlations   
TNJIF
- 0.41
NEOG
GROW
- 0.35
NEOG
ASTL
- 0.15
NEOG
WS
- 0.13
NEOG
NEOG
- 0.0
FDUS

Risk-Adjusted Indicators

There is a big difference between ZKH Stock performing well and ZKH Group 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 ZKH Group'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.

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