Fly E Correlations

FLYE Stock

USD 7.15 0.50 6.54%

The current 90-days correlation between Fly E Group and Cenntro Electric Group is -0.03 (i.e., Good diversification). The correlation of Fly E 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.

Fly E Correlation With Market

Good diversification

The correlation between Fly E Group Common and DJI is -0.12 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Fly E Group Common and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Fly Stock

Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in Fly E Group Common. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in producer price index.

Moving together with Fly Stock

0.62	600418	Anhui Jianghuai Auto	Pair Corr
0.63	JAKK	JAKKS Pacific	Pair Corr

Moving against Fly Stock

0.76	000572	Haima Automobile	Pair Corr
0.65	SANM	Sanmina	Pair Corr
0.58	FYBR	Frontier Communications	Pair Corr
0.49	RIVN	Rivian Automotive	Pair Corr
0.47	WSFS	WSFS Financial	Pair Corr
0.45	DQ	Daqo New Energy	Pair Corr
0.45	NMIH	NMI Holdings	Pair Corr
0.42	F	Ford Motor Aggressive Push	Pair Corr
0.42	ATI	Allegheny Technologies	Pair Corr
0.38	BOF	BranchOut Food Common	Pair Corr
0.37	ASXSF	Elysee Development Corp	Pair Corr

Related Correlations Analysis

	WKHS	CENN	XELB	LOBO	AIEV	YJ	ECDA	ATER	DSS	UCAR
WKHS		0.54	0.49	0.54	0.04	0.81	0.85	0.62	0.82	0.72	WKHS
CENN	0.54		0.57	0.35	0.17	0.63	0.69	0.35	0.62	0.35	CENN
XELB	0.49	0.57		0.47	0.53	0.73	0.77	0.55	0.72	0.18	XELB
LOBO	0.54	0.35	0.47		0.51	0.52	0.59	0.77	0.59	0.25	LOBO
AIEV	0.04	0.17	0.53	0.51		0.12	0.24	0.43	0.21	-0.37	AIEV
YJ	0.81	0.63	0.73	0.52	0.12		0.93	0.65	0.87	0.74	YJ
ECDA	0.85	0.69	0.77	0.59	0.24	0.93		0.69	0.92	0.64	ECDA
ATER	0.62	0.35	0.55	0.77	0.43	0.65	0.69		0.74	0.41	ATER
DSS	0.82	0.62	0.72	0.59	0.21	0.87	0.92	0.74		0.65	DSS
UCAR	0.72	0.35	0.18	0.25	-0.37	0.74	0.64	0.41	0.65		UCAR
	WKHS	CENN	XELB	LOBO	AIEV	YJ	ECDA	ATER	DSS	UCAR

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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

ECDA	+ 0.93	YJ
DSS	+ 0.92	ECDA
DSS	+ 0.87	YJ
ECDA	+ 0.85	WKHS
DSS	+ 0.82	WKHS
YJ	+ 0.81	WKHS

High negative correlations

UCAR

- 0.37

AIEV

Risk-Adjusted Indicators

There is a big difference between Fly Stock performing well and Fly E 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 Fly E'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
WKHS	5.00	(1.13)	0.00	(1.32)	0.00	0.00	10.78	(8.50)	56.82
CENN	5.52	(1.90)	0.00	(0.41)	0.00	0.00	13.33	(10.00)	56.45
XELB	4.90	(0.70)	0.00	(0.20)	0.00	0.00	10.67	(10.19)	31.14
LOBO	6.05	0.03	0.00	0.15	9.62	(6.75)	16.44	(11.63)	61.51
AIEV	13.98	2.43	0.12	(0.99)	12.17	(26.47)	50.00	(23.08)	138.46
YJ	2.95	(0.83)	0.00	(0.55)	0.00	0.00	6.50	(9.33)	23.06
ECDA	9.08	(4.80)	0.00	(26.25)	0.00	0.00	9.66	(26.60)	86.44
ATER	3.52	(0.36)	0.00	(0.32)	0.00	0.00	7.14	(7.14)	28.48
DSS	2.85	(0.52)	0.00	(0.19)	0.00	0.00	5.04	(6.16)	18.47
UCAR	2.28	(0.47)	0.00	(0.65)	0.00	0.00	4.79	(5.00)	16.39

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