GlobalData Plc Correlations

GLDAF Stock

1.70 0.14 8.97%

The current 90-days correlation between GlobalData Plc and InPlay Oil Corp is -0.06 (i.e., Good diversification). The correlation of GlobalData Plc 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.

GlobalData Plc Correlation With Market

Significant diversification

The correlation between GlobalData Plc 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 GlobalData Plc and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to GlobalData Plc could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace GlobalData Plc 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 GlobalData Plc - 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 GlobalData Plc to buy it.

Moving together with GlobalData Pink Sheet

0.8

BAH

Booz Allen Hamilton

Pair Corr

Moving against GlobalData Pink Sheet

0.87	BVRDF	Bureau Veritas SA	Pair Corr
0.56	BYCRF	BayCurrent Consulting	Pair Corr
0.5	SGSOF	SGS SA	Pair Corr
0.44	SGSOY	SGS SA	Pair Corr
0.8	CTDD	Qwest Corp 6	Pair Corr
0.76	LUMN	Lumen Technologies Aggressive Push	Pair Corr
0.69	HAWLL	Hawaiian Electric	Pair Corr
0.55	CWQXY	Castellum AB ADR	Pair Corr
0.49	CLSK	CleanSpark Buyout Trend	Pair Corr
0.39	CNUTF	Canadian Utilities	Pair Corr
0.35	TRTX	TPG RE Finance Earnings Call This Week	Pair Corr
0.88	AGNC	AGNC Investment Corp	Pair Corr
0.83	NPCE	Neuropace	Pair Corr
0.73	GNLAF	Genesis Land Development	Pair Corr
0.72	ALITF	Alliance Trust PLC	Pair Corr
0.7	RADX	Radiopharm Theranostics	Pair Corr
0.7	WFCNP	Wells Fargo	Pair Corr

Related Correlations Analysis

	IPOOF	VIDE	UNHLF	IPLY	CRRVF	MCTH	LPL	SRBZF
IPOOF		0.0	0.61	0.0	0.0	0.0	0.83	0.0	IPOOF
VIDE	0.0		0.0	1.0	0.0	1.0	0.0	1.0	VIDE
UNHLF	0.61	0.0		0.0	0.0	0.0	0.61	0.0	UNHLF
IPLY	0.0	1.0	0.0		0.0	1.0	0.0	1.0	IPLY
CRRVF	0.0	0.0	0.0	0.0		0.0	0.0	0.0	CRRVF
MCTH	0.0	1.0	0.0	1.0	0.0		0.0	1.0	MCTH
LPL	0.83	0.0	0.61	0.0	0.0	0.0		0.0	LPL
SRBZF	0.0	1.0	0.0	1.0	0.0	1.0	0.0		SRBZF
	IPOOF	VIDE	UNHLF	IPLY	CRRVF	MCTH	LPL	SRBZF

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

IPLY	+ 1.0	VIDE
MCTH	+ 1.0	VIDE
SRBZF	+ 1.0	VIDE
MCTH	+ 1.0	IPLY
SRBZF	+ 1.0	IPLY
SRBZF	+ 1.0	MCTH

High negative correlations

SRBZF	- 0.0	LPL
LPL	- 0.0	MCTH
SRBZF	- 0.0	CRRVF
LPL	- 0.0	CRRVF
MCTH	- 0.0	CRRVF
LPL	- 0.0	IPLY

Risk-Adjusted Indicators

There is a big difference between GlobalData Pink Sheet performing well and GlobalData Plc 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 GlobalData Plc'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
IPOOF	1.67	0.22	0.08	0.49	2.02	(1.65)	3.60	(3.30)	10.73
VIDE	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
UNHLF	1.24	0.61	0.00	2.45	0.00	0.00	0.00	0.00	39.23
IPLY	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
CRRVF	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
MCTH	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
LPL	2.13	0.46	0.16	0.49	2.46	(2.59)	5.06	(4.30)	30.47
SRBZF	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00

Be your own money manager

Our tools can tell you how much better you can do entering a position in GlobalData Plc 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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