Gitlab Correlations

GTLB Stock

USD 45.31 2.96 6.13%

The current 90-days correlation between Gitlab Inc and CommVault Systems is 0.15 (i.e., Average diversification). The correlation of Gitlab 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.

Gitlab Correlation With Market

Average diversification

The correlation between Gitlab Inc and DJI is 0.13 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Gitlab Inc and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Gitlab Stock

Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in Gitlab 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 Gitlab Stock

0.65	BAC	Bank of America	Pair Corr
0.63	XOM	Exxon Mobil Corp	Pair Corr
0.62	AXP	American Express	Pair Corr

Moving against Gitlab Stock

0.58	KO	Coca Cola Earnings Call This Week	Pair Corr
0.5	MSFT	Microsoft	Pair Corr
0.4	CSCO	Cisco Systems	Pair Corr

Related Correlations Analysis

	CVLT	MTCH	LIF	SRAD	INFA	APPF	LYFT	KVYO	STUB	NICE
CVLT		0.49	0.22	0.28	0.22	0.5	0.2	0.38	0.14	0.13	CVLT
MTCH	0.49		0.08	0.8	0.08	0.58	-0.04	0.65	-0.04	-0.03	MTCH
LIF	0.22	0.08		-0.27	0.79	-0.32	0.91	-0.35	0.35	-0.48	LIF
SRAD	0.28	0.8	-0.27		-0.2	0.59	-0.33	0.71	-0.18	0.13	SRAD
INFA	0.22	0.08	0.79	-0.2		-0.26	0.7	-0.44	0.26	-0.68	INFA
APPF	0.5	0.58	-0.32	0.59	-0.26		-0.31	0.72	-0.2	0.44	APPF
LYFT	0.2	-0.04	0.91	-0.33	0.7	-0.31		-0.31	0.39	-0.36	LYFT
KVYO	0.38	0.65	-0.35	0.71	-0.44	0.72	-0.31		-0.06	0.64	KVYO
STUB	0.14	-0.04	0.35	-0.18	0.26	-0.2	0.39	-0.06		-0.07	STUB
NICE	0.13	-0.03	-0.48	0.13	-0.68	0.44	-0.36	0.64	-0.07		NICE
	CVLT	MTCH	LIF	SRAD	INFA	APPF	LYFT	KVYO	STUB	NICE

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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

LYFT	+ 0.91	LIF
SRAD	+ 0.8	MTCH
INFA	+ 0.79	LIF
KVYO	+ 0.72	APPF
KVYO	+ 0.71	SRAD
LYFT	+ 0.7	INFA

High negative correlations

NICE	- 0.68	INFA
NICE	- 0.48	LIF
KVYO	- 0.44	INFA
NICE	- 0.36	LYFT
KVYO	- 0.35	LIF
LYFT	- 0.33	SRAD

Risk-Adjusted Indicators

There is a big difference between Gitlab Stock performing well and Gitlab 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 Gitlab'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
CVLT	2.08	0.13	0.01	(0.06)	2.23	(2.49)	3.77	(4.23)	23.79
MTCH	1.40	0.01	(0.02)	(0.14)	1.70	(1.59)	2.62	(2.65)	15.90
LIF	2.25	0.31	0.09	(0.79)	2.38	(2.63)	5.61	(4.37)	20.26
SRAD	1.73	(0.18)	0.00	(2.70)	0.00	0.00	4.09	(4.07)	12.26
INFA	0.11	0.01	(0.23)	(0.54)	0.02	(0.13)	0.28	(0.16)	1.09
APPF	1.74	(0.02)	0.00	0.07	0.00	0.00	2.36	(3.00)	26.30
LYFT	2.55	0.50	0.16	(1.56)	2.22	(3.22)	7.59	(3.85)	19.93
KVYO	2.54	(0.42)	0.00	2.30	0.00	0.00	3.83	(6.07)	27.08
STUB	4.22	(1.10)	0.00	1.99	0.00	0.00	7.98	(7.34)	20.85
NICE	1.81	(0.23)	0.00	0.72	0.00	0.00	3.61	(3.55)	18.50

Gitlab Corporate Management

Sabrina Farmer	Chief Officer	Profile
Robert Allen	Chief Officer	Profile
Stella Treas	Chief Staff	Profile
Manu Narayan	Chief Officer	Profile
Sytse Sijbrandij	Chairman, CoFounder	Profile
Christopher Weber	Chief Officer	Profile
Michael McBride	Chief Officer	Profile

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