Iveda Solutions Correlations

IVDA Stock

USD 0.82 0.04 4.42%

The current 90-days correlation between Iveda Solutions and Digital Ally is -0.19 (i.e., Good diversification). The correlation of Iveda Solutions 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.

Iveda Solutions Correlation With Market

Modest diversification

The correlation between Iveda Solutions and DJI is 0.27 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Iveda Solutions and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Iveda Stock

Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in Iveda Solutions. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in services.

For information on how to trade Iveda Stock refer to our How to Trade Iveda Stock guide.

Moving together with Iveda Stock

0.62	RBRK	Rubrik,	Pair Corr
0.71	VFSWW	VinFast Auto	Pair Corr

Moving against Iveda Stock

0.67	600756	Inspur Software	Pair Corr
0.53	PATH	Uipath Inc Potential Growth	Pair Corr
0.43	QLYS	Qualys Inc	Pair Corr
0.34	FTNT	Fortinet	Pair Corr
0.32	CHKP	Check Point Software	Pair Corr
0.73	ANSLF	Ansell Limited	Pair Corr
0.72	NUAI	New Era Energy Symbol Change	Pair Corr
0.65	SHG	Shinhan Financial	Pair Corr
0.64	CYBR	CyberArk Software	Pair Corr
0.59	AEP	American Electric Power Earnings Call Today	Pair Corr
0.56	EC	Ecopetrol SA ADR	Pair Corr
0.53	FICO	Fair Isaac Tech Boost	Pair Corr
0.53	INTAF	Intact Financial	Pair Corr
0.51	IVZ	Invesco Plc Normal Trading	Pair Corr
0.43	KB	KB Financial Group	Pair Corr

Related Correlations Analysis

	DGLY	CIGL	BKYI	SBLX	BAER	ICON	PMAX	CLIK	VCIG
DGLY		0.09	-0.19	0.21	-0.34	0.43	0.26	0.09	-0.26	DGLY
CIGL	0.09		0.01	-0.13	-0.17	0.0	-0.37	0.03	-0.16	CIGL
BKYI	-0.19	0.01		-0.17	-0.09	-0.18	-0.07	-0.02	-0.19	BKYI
SBLX	0.21	-0.13	-0.17		0.58	0.87	0.42	0.71	0.69	SBLX
BAER	-0.34	-0.17	-0.09	0.58		0.51	-0.03	0.63	0.87	BAER
ICON	0.43	0.0	-0.18	0.87	0.51		0.23	0.76	0.63	ICON
PMAX	0.26	-0.37	-0.07	0.42	-0.03	0.23		0.0	0.04	PMAX
CLIK	0.09	0.03	-0.02	0.71	0.63	0.76	0.0		0.76	CLIK
VCIG	-0.26	-0.16	-0.19	0.69	0.87	0.63	0.04	0.76		VCIG
	DGLY	CIGL	BKYI	SBLX	BAER	ICON	PMAX	CLIK	VCIG

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

ICON	+ 0.87	SBLX
VCIG	+ 0.87	BAER
CLIK	+ 0.76	ICON
VCIG	+ 0.76	CLIK
CLIK	+ 0.71	SBLX
VCIG	+ 0.69	SBLX

High negative correlations

PMAX	- 0.37	CIGL
BAER	- 0.34	DGLY
VCIG	- 0.26	DGLY
VCIG	- 0.19	BKYI
BKYI	- 0.19	DGLY
ICON	- 0.18	BKYI

Risk-Adjusted Indicators

There is a big difference between Iveda Stock performing well and Iveda Solutions 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 Iveda Solutions' 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
DGLY	3.03	0.05	0.00	0.09	0.00	0.00	6.86	(5.67)	23.39
CIGL	9.04	0.96	0.16	0.34	7.28	(13.24)	43.87	(11.68)	127.43
BKYI	4.63	0.25	0.07	0.22	5.02	(6.41)	8.33	(7.84)	69.05
SBLX	5.01	(1.33)	0.00	(0.13)	0.00	0.00	9.64	(10.98)	40.40
BAER	3.02	(0.31)	0.00	(0.02)	0.00	0.00	7.41	(6.40)	17.28
ICON	2.48	(0.92)	0.00	(1.24)	0.00	0.00	5.16	(5.59)	18.69
PMAX	5.32	(0.48)	0.00	(0.03)	0.00	0.00	8.55	(9.48)	64.52
CLIK	5.19	(0.51)	0.00	(0.04)	0.00	0.00	11.47	(9.92)	96.16
VCIG	8.87	(3.82)	0.00	(0.58)	0.00	0.00	17.50	(18.12)	98.40

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