Volcon Correlations

VLCN
 Stock
  

USD 1.19  0.01  0.83%   

The correlation of Volcon 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 Volcon moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Volcon Inc 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.
Also, please take a look at World Market Map.
  
The ability to find closely correlated positions to Volcon could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Volcon 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 Volcon - 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 Volcon Inc to buy it.

Moving together with Volcon

+0.61NHTCNatural Health TrendPairCorr
+0.86BYDDFBYD Co Ltd-HPairCorr
+0.87BYDDYBYD CoPairCorr

Moving against Volcon

-0.78PLOWDouglas DynamicsPairCorr
-0.78PPERYBank Mandiri PerseroPairCorr
-0.75PPERFBank Mandiri PerseroPairCorr
-0.69IGTInternational GamePairCorr
-0.67AINAlbany InternationalPairCorr
-0.57MYEMyers IndustriesPairCorr

Related Correlations

MIMTF
GLCNF
FSUGY
MAG
BHP
VALE
MIMTF
0.360.00.480.260.46
MIMTF
GLCNF
0.360.510.820.740.71
GLCNF
FSUGY
0.00.510.460.810.53
FSUGY
MAG
0.480.820.460.830.85
MAG
BHP
0.260.740.810.830.84
BHP
VALE
0.460.710.530.850.84
VALE
MIMTF
GLCNF
FSUGY
MAG
BHP
VALE
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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   
VALEMAG
VALEBHP
BHPMAG
MAGGLCNF
BHPFSUGY
BHPGLCNF
  
High negative correlations   
FSUGYMIMTF

Volcon Competition Risk-Adjusted Indicators

Nowadays, there is a big difference between Volcon Stock performing well and Volcon 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 Volcon'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.

Be your own money manager

Our tools can tell you how much better you can do entering a position in Volcon without increasing your portfolio risk or giving up the 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.

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Volcon Corporate Management

Elected by the shareholders, the Volcon's board of directors comprises two types of representatives: Volcon inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Volcon. The board's role is to monitor Volcon's management team and ensure that shareholders' interests are well served. Volcon's inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, Volcon's outside directors are responsible for providing unbiased perspectives on the board's policies.
Stephanie Davis - Chief OfficerProfile
Melissa Coffey - Director DevelProfile
Greg Endo - Chief OfficerProfile
Jordan Davis - CEO DirectorProfile
Christian Okonsky - Chairman FounderProfile
Katie Hale - Chief OfficerProfile

Invested in Volcon Inc?

The danger of trading Volcon Inc 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 Volcon 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 Volcon. The Shape ratio is calculated by using standard deviation and excess return to determine reward per unit of risk. To understand how volatile Volcon Inc 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.
Also, please take a look at World Market Map. Note that the Volcon Inc information on this page should be used as a complementary analysis to other Volcon'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 Global Correlations module to find global opportunities by holding instruments from different markets.

Complementary Tools for Volcon Stock analysis

When running Volcon Inc price analysis, check to measure Volcon'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 Volcon is operating at the current time. Most of Volcon's value examination focuses on studying past and present price action to predict the probability of Volcon's future price movements. You can analyze the entity against its peers and financial market as a whole to determine factors that move Volcon's price. Additionally, you may evaluate how the addition of Volcon to your portfolios can decrease your overall portfolio volatility.
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Is Volcon'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 Volcon. If investors know Volcon 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 Volcon listed above have to be considered, but the key to understanding future value is determining which factors weigh more heavily than others.
Market Capitalization
29 M
Quarterly Revenue Growth YOY
2.23
Return On Assets
(1.23) 
Return On Equity
(6.54) 
The market value of Volcon Inc is measured differently than its book value, which is the value of Volcon that is recorded on the company's balance sheet. Investors also form their own opinion of Volcon's value that differs from its market value or its book value, called intrinsic value, which is Volcon'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 Volcon's market value can be influenced by many factors that don't directly affect Volcon'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 Volcon's value and its price as these two are different measures arrived at by different means. Investors typically determine Volcon value by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Volcon'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.