Distoken Acquisition Correlations

Summary

DISTDelisted Stock

28.00 0.00 0.00%

The current 90-days correlation between Distoken Acquisition and Fidus Investment Corp is -0.07 (i.e., Good diversification). The correlation of Distoken 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.

Distoken Acquisition Correlation With Market

Good diversification

The correlation between Distoken Acquisition and DJI is -0.13 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Distoken Acquisition and DJI in the same portfolio, assuming nothing else is changed.

Check out Investing Opportunities to better understand how to build diversified portfolios. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in manufacturing.

Moving together with Distoken Stock

0.86	TLK	Telkom Indonesia Tbk	Pair Corr
0.76	PTAIY	Astra International Tbk	Pair Corr
0.7	MSFT	Microsoft	Pair Corr
0.74	GE	GE Aerospace Sell-off Trend	Pair Corr
0.79	HD	Home Depot	Pair Corr
0.71	WMT	Walmart Sell-off Trend	Pair Corr
0.85	JNJ	Johnson Johnson	Pair Corr

Moving against Distoken Stock

0.8	IBM	International Business	Pair Corr
0.7	PBCRF	PT Bank Central	Pair Corr
0.68	BKRKF	PT Bank Rakyat	Pair Corr
0.65	PPERF	Bank Mandiri Persero Earnings Call Today	Pair Corr
0.57	PG	Procter Gamble Sell-off Trend	Pair Corr
0.45	PPERY	Bank Mandiri Persero Earnings Call Today	Pair Corr
0.37	EC	Ecopetrol SA ADR	Pair Corr

Related Correlations Analysis

	FDUS	DEO	CODI-P-A	ORIQU	COCO	BNL	OTLY	MTG
FDUS		0.07	0.67	-0.62	0.32	0.46	0.74	-0.14	FDUS
DEO	0.07		-0.34	0.39	-0.22	0.31	0.18	0.21	DEO
CODI-P-A	0.67	-0.34		-0.47	0.07	0.55	0.61	0.2	CODI-P-A
ORIQU	-0.62	0.39	-0.47		-0.57	0.04	-0.18	0.35	ORIQU
COCO	0.32	-0.22	0.07	-0.57		-0.35	-0.23	-0.41	COCO
BNL	0.46	0.31	0.55	0.04	-0.35		0.79	0.55	BNL
OTLY	0.74	0.18	0.61	-0.18	-0.23	0.79		0.19	OTLY
MTG	-0.14	0.21	0.2	0.35	-0.41	0.55	0.19		MTG
	FDUS	DEO	CODI-P-A	ORIQU	COCO	BNL	OTLY	MTG

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

OTLY	+ 0.79	BNL
OTLY	+ 0.74	FDUS
CODI-P-A	+ 0.67	FDUS
OTLY	+ 0.61	CODI-P-A
BNL	+ 0.55	CODI-P-A
MTG	+ 0.55	BNL

High negative correlations

ORIQU	- 0.62	FDUS
COCO	- 0.57	ORIQU
ORIQU	- 0.47	CODI-P-A
MTG	- 0.41	COCO
BNL	- 0.35	COCO
CODI-P-A	- 0.34	DEO

Risk-Adjusted Indicators

There is a big difference between Distoken Stock performing well and Distoken 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 Distoken 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
FDUS	0.74	0.05	0.01	0.19	0.73	(0.90)	1.32	(1.61)	4.84
DEO	1.28	(0.04)	(0.05)	0.03	1.62	(1.48)	3.10	(2.67)	8.07
CODI-P-A	2.09	0.51	0.19	0.64	1.98	(2.50)	6.34	(3.93)	15.38
ORIQU	0.11	0.01	(0.44)	0.65	0.00	(0.20)	0.40	(0.20)	0.80
COCO	1.43	(0.07)	0.00	(0.02)	0.00	0.00	3.10	(2.62)	8.24
BNL	0.92	0.17	0.12	0.36	0.80	(1.04)	2.36	(1.56)	4.23
OTLY	2.74	0.77	0.23	0.70	2.60	(2.97)	8.77	(5.64)	18.39
MTG	1.07	0.00	0.00	0.10	1.53	(0.98)	2.21	(2.37)	6.41

Distoken Acquisition Related Equities

One of the popular trading techniques among algorithmic traders is to use market-neutral strategies where every trade hedges away some risk. Because there are two separate transactions required, even if one position performs unexpectedly, the other equity can make up some of the losses. Below are some of the equities that can be combined with Distoken Acquisition stock to make a market-neutral strategy. Peer analysis of Distoken Acquisition could also be used in its relative valuation, which is a method of valuing Distoken Acquisition by comparing valuation metrics with similar companies.

Fidus Investment Corp Diageo PLC ADR Compass Diversified Holdings Origin Investment Corp Vita Coco Broadstone Net Lease Oatly Group AB MGIC Investment Corp American Airlines Group Alcoa Corp Apple Inc Best Buy Co Citigroup SentinelOne CVS Health Corp

Risk & Return

Correlation

Still Interested in Distoken Acquisition?

Investing in delisted delisted stocks can be risky, as the stock is no longer traded on a public exchange and can therefore be difficult to sell. Delisting typically occurs when a company has failed to meet exchange requirements or has been acquired. Before investing, it's important to thoroughly research the company, including its financial health and prospects for the future, as well as the reasons for its delisting. Additionally, it may be difficult to find accurate and up-to-date information on the company and its stock.

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