Locafy Correlations

LCFYW Stock

USD 10.35 0.00 0.00%

The current 90-days correlation between Locafy Limited and Locafy is 0.12 (i.e., Average diversification). The correlation of Locafy 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.

Locafy Correlation With Market

Good diversification

The correlation between Locafy Limited and DJI is -0.07 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Locafy Limited and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Locafy Stock

Check out Correlation Analysis 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 commodities.

Moving together with Locafy Stock

0.67	Z	Zillow Group Class	Pair Corr
0.67	ZG	Zillow Group	Pair Corr
0.73	MNY	MoneyHero Limited Class	Pair Corr
0.62	TME	Tencent Music Entert	Pair Corr
0.71	GENI	Genius Sports	Pair Corr
0.73	GOOG	Alphabet Class C	Pair Corr
0.79	IZEA	IZEA Inc Potential Growth	Pair Corr
0.69	MTCH	Match Group	Pair Corr

Moving against Locafy Stock

0.78	JFIN	Jiayin Group	Pair Corr
0.77	TC	TuanChe ADR	Pair Corr
0.67	GRPN	Groupon	Pair Corr
0.56	MAX	MediaAlpha	Pair Corr
0.51	RUM	Rumble Inc	Pair Corr
0.46	GIFT	RDE, Inc Symbol Change	Pair Corr
0.46	YELP	Yelp Inc	Pair Corr
0.45	DJTWW	Trump Media Technology	Pair Corr
0.31	EVER	EverQuote Class A	Pair Corr
0.31	SLE	Super League Enterprise	Pair Corr
0.8	OPRA	Opera	Pair Corr
0.75	KRKR	36Kr Holdings	Pair Corr
0.71	SEAT	Vivid Seats	Pair Corr
0.67	PODC	Courtside Group, Common	Pair Corr
0.66	TBLAW	Taboola Warrant	Pair Corr
0.53	MATH	Metalpha Technology	Pair Corr
0.5	SPOT	Spotify Technology	Pair Corr
0.49	NRDS	Nerdwallet	Pair Corr

Related Correlations Analysis

	LCFY	OPRA	FVRR	Z	GOOG	RVSNW	BEATW	IVDAW
LCFY		-0.07	-0.32	0.35	0.37	-0.21	-0.43	-0.19	LCFY
OPRA	-0.07		0.67	-0.64	-0.71	-0.53	0.47	0.18	OPRA
FVRR	-0.32	0.67		-0.91	-0.89	-0.09	0.73	0.48	FVRR
Z	0.35	-0.64	-0.91		0.94	0.24	-0.8	-0.48	Z
GOOG	0.37	-0.71	-0.89	0.94		0.34	-0.75	-0.43	GOOG
RVSNW	-0.21	-0.53	-0.09	0.24	0.34		-0.1	0.03	RVSNW
BEATW	-0.43	0.47	0.73	-0.8	-0.75	-0.1		0.37	BEATW
IVDAW	-0.19	0.18	0.48	-0.48	-0.43	0.03	0.37		IVDAW
	LCFY	OPRA	FVRR	Z	GOOG	RVSNW	BEATW	IVDAW

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

GOOG	+ 0.94	Z
BEATW	+ 0.73	FVRR
FVRR	+ 0.67	OPRA
IVDAW	+ 0.48	FVRR
BEATW	+ 0.47	OPRA
GOOG	+ 0.37	LCFY

High negative correlations

Z	- 0.91	FVRR
GOOG	- 0.89	FVRR
BEATW	- 0.8	Z
BEATW	- 0.75	GOOG
GOOG	- 0.71	OPRA
Z	- 0.64	OPRA

Risk-Adjusted Indicators

There is a big difference between Locafy Stock performing well and Locafy 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 Locafy'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
LCFY	9.16	0.96	0.23	0.23	6.76	(14.16)	9.98	(13.44)	250.01
OPRA	1.92	(0.23)	0.00	(0.05)	0.00	0.00	3.39	(4.28)	14.01
FVRR	1.67	(0.60)	0.00	(0.87)	0.00	0.00	2.57	(4.74)	14.49
Z	1.43	0.49	0.18	(1.24)	1.50	(1.66)	4.30	(2.85)	8.89
GOOG	1.07	0.20	0.14	0.36	1.00	(1.25)	2.80	(1.66)	6.60
RVSNW	8.46	1.03	0.07	0.69	11.01	(10.01)	21.85	(21.43)	83.65
BEATW	7.12	0.16	(0.01)	0.00	11.00	(10.22)	23.21	(13.89)	81.30
IVDAW	12.08	0.27	0.02	0.25	13.97	(18.63)	30.00	(27.27)	91.18

Locafy 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 Locafy stock to make a market-neutral strategy. Peer analysis of Locafy could also be used in its relative valuation, which is a method of valuing Locafy by comparing valuation metrics with similar companies.

Locafy Opera Fiverr International Zillow Group Class Alphabet Inc Class C Rail Vision Ltd Heartbeam Warrant Iveda Solutions Warrant American Airlines Group Alcoa Corp Apple Inc Best Buy Co Citigroup SentinelOne CVS Health Corp

Risk & Return

Correlation

Locafy Corporate Management

Chris McDonald	Chief Officer	Profile
Xander Santos	Chief RD	Profile
David Penner	Chief Officer	Profile
Umair Ehsan	Head Development	Profile
Chris Kealley	Head Product	Profile
Elliott Rowton	Investor Officer	Profile

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