GoPro Correlations

GPRO Stock

USD 1.16 0.05 4.13%

The current 90-days correlation between GoPro Inc and Vuzix Corp Cmn is 0.21 (i.e., Modest diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as GoPro moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if GoPro Inc moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

GoPro Correlation With Market

Very good diversification

The correlation between GoPro Inc and DJI is -0.47 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding GoPro Inc and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with GoPro Stock

Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in GoPro Inc. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as various price indices.

Moving together with GoPro Stock

0.84	6C2	Corsair Gaming	Pair Corr
0.65	LGA	LG Display	Pair Corr
0.69	KOSS	Koss Potential Growth	Pair Corr
0.84	5HS	FRACTAL GAMING GROUP Earnings Call This Week	Pair Corr
0.72	SONY	Sony Group Corp	Pair Corr

Moving against GoPro Stock

0.69	SSUN	Samsung Electronics	Pair Corr
0.45	NNAX	New Momentum	Pair Corr
0.42	FCTI	Fact Inc	Pair Corr
0.77	FBPI	First Bancorp Earnings Call Tomorrow	Pair Corr
0.71	BIMT	Bitmis Corp	Pair Corr
0.71	GBCI	Glacier Bancorp Normal Trading	Pair Corr
0.71	EVGPF	Evergrande Property	Pair Corr
0.68	FET	Forum Energy Technologies	Pair Corr
0.68	ZIJMF	Zijin Mining Group	Pair Corr
0.68	NGS	Natural Gas Services	Pair Corr
0.67	THSGF	Thesis Gold	Pair Corr
0.67	PANL	Pangaea Logistic	Pair Corr
0.61	RZB	Reinsurance Group Earnings Call This Week	Pair Corr
0.56	KO	Coca Cola Aggressive Push	Pair Corr
0.54	ASTS	Ast Spacemobile	Pair Corr
0.37	071813CV9	BAX 3132 01	Pair Corr
0.35	VRCA	Verrica Pharmaceuticals	Pair Corr
0.81	TYHOF	Toyota Tsusho Earnings Call Tomorrow	Pair Corr
0.76	SBSW	Sibanye Gold	Pair Corr

Related Correlations Analysis

	VUZI	OCFT	ALTS	TBCH	REKR	UIS	SMRT	FRGE	PDYN	III
VUZI		0.46	-0.1	0.32	0.03	0.63	0.32	-0.33	0.12	0.64	VUZI
OCFT	0.46		-0.03	-0.52	-0.7	0.16	0.5	0.33	0.0	0.58	OCFT
ALTS	-0.1	-0.03		0.24	0.36	0.46	-0.72	-0.46	0.88	-0.32	ALTS
TBCH	0.32	-0.52	0.24		0.88	0.65	-0.34	-0.8	0.4	0.04	TBCH
REKR	0.03	-0.7	0.36	0.88		0.5	-0.61	-0.76	0.5	-0.27	REKR
UIS	0.63	0.16	0.46	0.65	0.5		-0.21	-0.75	0.65	0.42	UIS
SMRT	0.32	0.5	-0.72	-0.34	-0.61	-0.21		0.55	-0.73	0.67	SMRT
FRGE	-0.33	0.33	-0.46	-0.8	-0.76	-0.75	0.55		-0.63	0.05	FRGE
PDYN	0.12	0.0	0.88	0.4	0.5	0.65	-0.73	-0.63		-0.16	PDYN
III	0.64	0.58	-0.32	0.04	-0.27	0.42	0.67	0.05	-0.16		III
	VUZI	OCFT	ALTS	TBCH	REKR	UIS	SMRT	FRGE	PDYN	III

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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

PDYN	+ 0.88	ALTS
REKR	+ 0.88	TBCH
III	+ 0.67	SMRT
UIS	+ 0.65	TBCH
PDYN	+ 0.65	UIS
III	+ 0.64	VUZI

High negative correlations

FRGE	- 0.8	TBCH
FRGE	- 0.76	REKR
FRGE	- 0.75	UIS
PDYN	- 0.73	SMRT
SMRT	- 0.72	ALTS
REKR	- 0.7	OCFT

Risk-Adjusted Indicators

There is a big difference between GoPro Stock performing well and GoPro 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 GoPro'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
VUZI	4.63	(0.34)	0.00	(0.24)	0.00	0.00	8.45	(8.86)	43.23
OCFT	0.57	0.10	0.08	0.77	0.52	(0.79)	1.55	(1.11)	4.57
ALTS	6.00	0.08	0.02	0.06	5.93	(7.82)	15.07	(9.81)	40.07
TBCH	2.07	(0.57)	0.00	(0.27)	0.00	0.00	3.09	(5.80)	14.42
REKR	3.13	(1.46)	0.00	(0.68)	0.00	0.00	4.90	(7.64)	16.09
UIS	2.48	(0.57)	0.00	(0.17)	0.00	0.00	5.30	(4.59)	22.47
SMRT	2.33	0.18	0.07	0.29	2.16	(3.29)	5.75	(4.06)	21.69
FRGE	3.02	1.67	1.70	(0.86)	0.00	(3.33)	8.91	(0.56)	69.57
PDYN	4.61	(0.31)	0.00	(0.06)	0.00	0.00	12.65	(7.57)	26.24
III	1.80	(0.01)	0.00	0.03	2.45	(2.09)	4.07	(3.46)	19.29

GoPro Corporate Management

Vincent Nakayama	Senior Engineering	Profile
Jalene CPA	VP Relations	Profile
Rick Loughery	Vice Communications	Profile
Charles Lafrades	Chief Officer	Profile

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