Envela Corp Correlations

ELA
 Stock
  

USD 6.98  0.12  1.69%   

The correlation of Envela Corp is a statistical measure of how it moves in relation to other equities. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Envela Corp moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Envela Corp moves in either direction, the perfectly negatively correlated security will move in the opposite direction. If the correlation is 0, the equities are not correlated; they are entirely random. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.
Continue to Investing Opportunities.
  
Refresh
The ability to find closely correlated positions to Envela Corp could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Envela Corp when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back Envela Corp - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling Envela Corp to buy it.

Moving against Envela Corp

0.81CONNConns Inc Normal TradingPairCorr
0.8BARKOriginal BarkPairCorr
0.73AANAarons HoldingsPairCorr
0.71BBYBest BuyPairCorr
0.69BWMXBetterware DE MexicoPairCorr
0.69CTIBCti Inds CorpPairCorr
0.68AAPAdvance Auto PartsPairCorr
0.67BGFVBig 5 Sporting Normal TradingPairCorr
0.65BBBYBed Bath Beyond Earnings Call  TomorrowPairCorr
0.63HADVHealth AdvancePairCorr
0.62DKSDicks Sporting Goods Normal TradingPairCorr
0.59ENJYEnjoy TechnologyPairCorr
0.58EVGOEvgo IncPairCorr
0.57FIVEFive BelowPairCorr
0.51EYENational Vision HoldingsPairCorr
0.51FLWS1-800-Flowers Fiscal Year End 25th of August 2022 PairCorr

Related Correlations

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

Correlation Matchups

The Correlation Coefficient is a useful tool to identify correlated or non-correlated securities, which is essential in developing a diversified portfolio. It tells us the relationship between two positions you have in your portfolio or considering acquiring. Over a given time period, the two securities movetogether 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   
DISBBBY
DISINTC
CSCOBBBY
BABBBY
BABQ
DISCSCO
  
High negative correlations   
INTCELA
CSCOELA
DISELA
ELABBBY
BAELA
ELABQ

Envela Corp Competition Risk-Adjusted Indicators

Nowadays, there is a big difference between Envela Corp stock performing well and Envela Corp company doing well compared to the competition. There are way too many exceptions to the normal that investors can tell for sure what's good or bad unless they analyze Envela Corp's multiple risk-adjusted performance indicators. 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
Information
Ratio
Expected
Shortfall
Potential
Upside
Value
At Risk
Maximum
Drawdown
BBBY 4.45 (1.38)  0.00 (0.99)  0.00 (0.26)  0.00  8.52 (9.69)  32.96 
BQ 4.52 (0.28)  0.00 (0.36)  0.00 (0.06)  0.00  9.77 (11.48)  28.01 
ELA 3.11  1.00  0.25  0.59  3.31  0.24 (3.79)  6.94 (5.30)  17.21 
CHPT 4.92  0.23  0.00 (0.09)  0.00 (0.0075)  0.00  9.45 (8.98)  29.94 
CVX 1.81  0.03  0.00 (0.14)  0.00  0.0199  0.00  3.06 (4.60)  10.25 
INTC 1.82 (0.21)  0.00 (0.33)  0.00 (0.12)  0.00  3.14 (3.64)  10.50 
CSCO 1.60 (0.15)  0.00 (0.31)  0.00 (0.06)  0.00  2.73 (3.26)  17.06 
DIS 1.72 (0.35)  0.00 (0.48)  0.00 (0.17)  0.00  3.29 (3.78)  8.79 
JNJ 0.96  0.11  0.18  0.04  1.06  0.16 (1.13)  2.23 (1.86)  5.06 
BA 2.59 (0.13)  0.00 (0.25)  0.00 (0.07)  0.00  5.64 (5.07)  16.31 

Be your own money manager

Our tools can tell you how much better you can do entering a position in Envela Corp without increasing your portfolio risk or giving up expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate.risk-adjusted returns of your individual positions relative to your overall portfolio.

Did you try this?

Run Portfolio Optimization Now

   

Portfolio Optimization

Compute new portfolio that will generate highest expected return given your specified tolerance for risk
All  Next Launch Module

Envela Corp Corporate Directors

Envela Corp corporate directors refer to members of an Envela Corp board of directors. The board of directors generally takes responsibility for the Envela Corp's affairs and long-term direction of the entity. A corporate director does not make decisions for the corporation on his own. As a member of the board of directors, she or he must function as a part of a group that makes decisions on behalf of the business only by the board of directors' meetings. To pass a resolution, a majority of Envela Corp's board members must vote for the resolution. The Envela Corp board of directors' duties also include the election, removal, and supervision of officers, including the adoption, amendment, and repeal of bylaws.
Gregory Stoupnitzky - Non-Executive DirectorProfile
Henry Turcan - Non-Executive DirectorProfile
Brian OCathain - Non-Executive DirectorProfile
Ronald Bain - CFO, DirectorProfile

Investing Envela Corp

You need to understand the risk of investing before taking a position in Envela Corp. The danger of trading Envela Corp is mainly related to its market volatility and company specific events. As an investor, you must understand the concept of risk-adjusted return before you start trading. The most common way to measure the risk of Envela Corp is by using the Sharpe ratio. The ratio expresses how much excess return you acquire for the extra volatility you endure for holding a more risker asset than Envela Corp. The Shape ratio is calculated by using standard deviation and excess return to determine reward per unit of risk. To understand how volatile Envela Corp is, you must compare it to a benchmark. Traditionally, the risk-free rate of return is the rate of return on the shortest-dated U.S. Treasury, such as a 3-year bond.
Continue to Investing Opportunities. Note that the Envela Corp information on this page should be used as a complementary analysis to other Envela Corp's statistical models used to find the right mix of equity instruments to add to your existing portfolios or create a brand new portfolio. You can also try Bollinger Bands module to use Bollinger Bands indicator to analyze target price for a given investing horizon.

Complementary Tools for Envela Stock analysis

When running Envela Corp price analysis, check to measure Envela Corp's market volatility, profitability, liquidity, solvency, efficiency, growth potential, financial leverage, and other vital indicators. We have many different tools that can be utilized to determine how healthy Envela Corp is operating at the current time. Most of Envela Corp's value examination focuses on studying past and present price action to predict the probability of Envela Corp's future price movements. You can analyze the entity against its peers and financial market as a whole to determine factors that move Envela Corp's price. Additionally, you may evaluate how the addition of Envela Corp to your portfolios can decrease your overall portfolio volatility.
Financial Widgets
Easily integrated Macroaxis content with over 30 different plug-and-play financial widgets
Go
My Watchlist Analysis
Analyze my current watchlist and to refresh optimization strategy. Macroaxis watchlist is based on self-learning algorithm to remember stocks you like
Go
Portfolio File Import
Quickly import all of your third-party portfolios from your local drive in csv format
Go
Analyst Recommendations
Analyst recommendations and target price estimates broken down by several categories
Go
Headlines Timeline
Stay connected to all market stories and filter out noise. Drill down to analyze hype elasticity
Go
Idea Optimizer
Use advanced portfolio builder with pre-computed micro ideas to build optimal portfolio
Go
Money Managers
Screen money managers from public funds and ETFs managed around the world
Go
Is Envela Corp's industry expected to grow? Or is there an opportunity to expand the business' product line in the future? Factors like these will boost the valuation of Envela Corp. If investors know Envela will grow in the future, the company's valuation will be higher. The financial industry is built on trying to define current growth potential and future valuation accurately. All the valuation information about Envela Corp listed above have to be considered, but the key to understanding future value is determining which factors weigh more heavily than others.
Quarterly Earnings Growth YOY
0.41
Market Capitalization
191.2 M
Quarterly Revenue Growth YOY
0.86
Return On Assets
0.13
Return On Equity
0.43
The market value of Envela Corp is measured differently than its book value, which is the value of Envela that is recorded on the company's balance sheet. Investors also form their own opinion of Envela Corp's value that differs from its market value or its book value, called intrinsic value, which is Envela Corp's true underlying value. Investors use various methods to calculate intrinsic value and buy a stock when its market value falls below its intrinsic value. Because Envela Corp's market value can be influenced by many factors that don't directly affect Envela Corp's underlying business (such as a pandemic or basic market pessimism), market value can vary widely from intrinsic value.
Please note, there is a significant difference between Envela Corp's value and its price as these two are different measures arrived at by different means. Investors typically determine Envela Corp value by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Envela Corp's price is the amount at which it trades on the open market and represents the number that a seller and buyer find agreeable to each party.