Chardan NexTech Correlations

DFLIW Stock

USD 0.13 0.02 18.18%

The current 90-days correlation between Chardan NexTech Acqu and SKYX Platforms Corp is 0.01 (i.e., Significant diversification). The correlation of Chardan NexTech 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.

Chardan NexTech Correlation With Market

Modest diversification

The correlation between Chardan NexTech Acquisition and DJI is 0.2 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Chardan NexTech Acquisition and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Chardan Stock

Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in Chardan NexTech Acquisition. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in gross domestic product.

Moving together with Chardan Stock

0.72	DPRO	Draganfly	Pair Corr
0.63	WATR	Current Water Techno	Pair Corr
0.65	ESAB	ESAB Corp	Pair Corr
0.7	002534	Xizi Clean Energy	Pair Corr

Moving against Chardan Stock

0.62	002757	Nanxing Furniture	Pair Corr
0.5	AZ	A2Z Smart Technologies	Pair Corr
0.4	IR	Ingersoll Rand	Pair Corr
0.4	600666	Aurora Optoelectronics	Pair Corr
0.65	ITW	Illinois Tool Works	Pair Corr
0.64	GGG	Graco Inc	Pair Corr
0.4	FSTR	LB Foster	Pair Corr
0.39	GENC	Gencor Industries	Pair Corr
0.36	KAI	Kadant Inc	Pair Corr

Related Correlations Analysis

	NEOV	SKYX	ESOA	SRFM	PAL	SHIP	FORR	TBI	VWAV	MVST
NEOV		-0.73	0.36	0.62	-0.59	-0.5	0.57	0.56	-0.19	-0.01	NEOV
SKYX	-0.73		-0.63	-0.82	0.84	0.84	-0.79	-0.72	-0.02	-0.3	SKYX
ESOA	0.36	-0.63		0.67	-0.64	-0.81	0.44	0.35	0.44	0.66	ESOA
SRFM	0.62	-0.82	0.67		-0.75	-0.86	0.76	0.73	0.13	0.57	SRFM
PAL	-0.59	0.84	-0.64	-0.75		0.84	-0.51	-0.45	-0.25	-0.57	PAL
SHIP	-0.5	0.84	-0.81	-0.86	0.84		-0.58	-0.48	-0.35	-0.68	SHIP
FORR	0.57	-0.79	0.44	0.76	-0.51	-0.58		0.94	0.01	0.07	FORR
TBI	0.56	-0.72	0.35	0.73	-0.45	-0.48	0.94		-0.15	0.03	TBI
VWAV	-0.19	-0.02	0.44	0.13	-0.25	-0.35	0.01	-0.15		0.55	VWAV
MVST	-0.01	-0.3	0.66	0.57	-0.57	-0.68	0.07	0.03	0.55		MVST
	NEOV	SKYX	ESOA	SRFM	PAL	SHIP	FORR	TBI	VWAV	MVST

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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

TBI	+ 0.94	FORR
PAL	+ 0.84	SKYX
SHIP	+ 0.84	SKYX
SHIP	+ 0.84	PAL
FORR	+ 0.76	SRFM
TBI	+ 0.73	SRFM

High negative correlations

SHIP	- 0.86	SRFM
SRFM	- 0.82	SKYX
SHIP	- 0.81	ESOA
FORR	- 0.79	SKYX
PAL	- 0.75	SRFM
SKYX	- 0.73	NEOV

Risk-Adjusted Indicators

There is a big difference between Chardan Stock performing well and Chardan NexTech 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 Chardan NexTech'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
NEOV	4.69	(0.42)	0.00	(0.12)	0.00	0.00	9.18	(10.40)	27.03
SKYX	4.75	0.85	0.22	0.32	3.97	(5.80)	15.04	(7.19)	26.24
ESOA	2.35	(0.37)	0.00	(0.11)	0.00	0.00	6.01	(4.58)	15.46
SRFM	4.18	(1.06)	0.00	(0.40)	0.00	0.00	7.39	(8.50)	20.95
PAL	3.44	0.30	0.10	0.16	3.83	(3.84)	6.89	(6.79)	38.71
SHIP	1.77	0.16	0.07	0.29	2.01	(1.89)	4.45	(3.65)	8.19
FORR	2.82	(0.56)	0.00	(0.31)	0.00	0.00	3.74	(5.76)	19.50
TBI	2.78	(0.30)	0.00	(0.14)	0.00	0.00	5.89	(6.11)	24.96
VWAV	5.71	0.04	0.01	0.10	6.44	(6.86)	13.65	(10.78)	37.69
MVST	4.29	0.13	0.03	0.13	5.06	(4.43)	8.57	(8.91)	31.06

Chardan NexTech Corporate Management

Wade Seaburg	Chief Officer	Profile
Denis Phares	Chairman, CoFounder	Profile
Tyler Bourns	Chief Officer	Profile
John MBA	Chief Officer	Profile
Dominic Sinnott	General Counsel	Profile
Nicole Harvey	Compliance Counsel	Profile

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