NextPlat Corp Correlations

NXPLW Stock

USD 0.05 0 5.30%

The current 90-days correlation between NextPlat Corp and Cerberus Cyber Sentinel is -0.1 (i.e., Good diversification). The correlation of NextPlat Corp 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.

NextPlat Corp Correlation With Market

Significant diversification

The correlation between NextPlat Corp and DJI is 0.08 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding NextPlat Corp and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with NextPlat Stock

Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in NextPlat Corp. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in inflation.

For more information on how to buy NextPlat Stock please use our How to Invest in NextPlat Corp guide.

Moving together with NextPlat Stock

0.65

HSN

Hansen Technologies

Pair Corr

Moving against NextPlat Stock

0.56	CRM	Salesforce Sell-off Trend	Pair Corr
0.32	TTD	Trade Desk	Pair Corr
0.52	CRM	SalesforceCom CDR	Pair Corr
0.45	ZPTA	Zapata Computing Holdings	Pair Corr
0.59	NBVA	Nubeva Technologies	Pair Corr
0.51	MTLS	Materialise NV	Pair Corr
0.46	EXT	Excite Technology	Pair Corr

Related Correlations Analysis

	VBIX	INLX	LPSN	BLIV	BMR	CISO	GREE	INTZ	CYN	MOGO
VBIX		0.7	0.39	0.48	0.77	0.85	0.6	0.82	0.75	0.82	VBIX
INLX	0.7		0.8	0.73	0.88	0.85	0.34	0.7	0.89	0.94	INLX
LPSN	0.39	0.8		0.7	0.7	0.6	0.03	0.4	0.72	0.71	LPSN
BLIV	0.48	0.73	0.7		0.6	0.66	0.15	0.5	0.67	0.73	BLIV
BMR	0.77	0.88	0.7	0.6		0.77	0.63	0.74	0.96	0.94	BMR
CISO	0.85	0.85	0.6	0.66	0.77		0.47	0.87	0.8	0.89	CISO
GREE	0.6	0.34	0.03	0.15	0.63	0.47		0.64	0.58	0.53	GREE
INTZ	0.82	0.7	0.4	0.5	0.74	0.87	0.64		0.74	0.8	INTZ
CYN	0.75	0.89	0.72	0.67	0.96	0.8	0.58	0.74		0.96	CYN
MOGO	0.82	0.94	0.71	0.73	0.94	0.89	0.53	0.8	0.96		MOGO
	VBIX	INLX	LPSN	BLIV	BMR	CISO	GREE	INTZ	CYN	MOGO

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Risk-Adjusted Indicators

There is a big difference between NextPlat Stock performing well and NextPlat Corp 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 NextPlat Corp'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
VBIX	3.78	(0.49)	0.00	1.05	0.00	0.00	7.18	(6.02)	59.97
INLX	1.67	(0.47)	0.00	2.06	0.00	0.00	2.96	(5.53)	13.59
LPSN	4.90	(1.57)	0.00	(0.41)	0.00	0.00	9.93	(11.89)	30.06
BLIV	1.24	(0.17)	0.00	(0.21)	0.00	0.00	2.20	(3.86)	16.80
BMR	3.06	(0.43)	0.00	(0.12)	0.00	0.00	6.90	(5.03)	18.18
CISO	4.99	(1.35)	0.00	(0.88)	0.00	0.00	8.41	(9.52)	33.34
GREE	5.94	0.35	0.08	0.15	6.37	(6.97)	13.50	(10.22)	57.17
INTZ	3.78	(0.24)	0.00	(0.04)	0.00	0.00	9.22	(8.00)	23.80
CYN	4.24	(0.68)	0.00	(0.13)	0.00	0.00	7.82	(8.91)	31.85
MOGO	2.67	(0.78)	0.00	(0.38)	0.00	0.00	4.50	(6.40)	14.17

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