Gitlab Correlations

GTLB Stock

USD 45.18 1.00 2.26%

The current 90-days correlation between Gitlab Inc and MondayCom is 0.47 (i.e., Very weak 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

Very weak diversification

The correlation between Gitlab Inc and DJI is 0.55 (i.e., Very weak 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 signals in industry.

Moving together with Gitlab Stock

0.73	S	SentinelOne Earnings Call This Week	Pair Corr
0.62	EEFT	Euronet Worldwide	Pair Corr
0.67	FIVN	Five9 Inc	Pair Corr
0.65	IOT	Samsara	Pair Corr

Moving against Gitlab Stock

0.48	MQ	Marqeta	Pair Corr
0.38	FFIV	F5 Networks	Pair Corr
0.31	GCT	GigaCloud Technology	Pair Corr
0.38	NET	Cloudflare	Pair Corr

Related Correlations Analysis

	MNDY	DDOG	BILL	ASAN	TEAM	CFLT	TOST	DLO	GLBE
MNDY		0.0	0.79	0.32	0.91	0.81	0.04	-0.69	0.28	MNDY
DDOG	0.0		0.34	-0.4	-0.1	0.23	0.74	-0.02	0.44	DDOG
BILL	0.79	0.34		0.25	0.78	0.78	0.22	-0.39	0.4	BILL
ASAN	0.32	-0.4	0.25		0.46	0.1	-0.1	-0.2	-0.02	ASAN
TEAM	0.91	-0.1	0.78	0.46		0.76	-0.04	-0.53	0.21	TEAM
CFLT	0.81	0.23	0.78	0.1	0.76		0.13	-0.41	0.3	CFLT
TOST	0.04	0.74	0.22	-0.1	-0.04	0.13		-0.22	0.49	TOST
DLO	-0.69	-0.02	-0.39	-0.2	-0.53	-0.41	-0.22		-0.29	DLO
GLBE	0.28	0.44	0.4	-0.02	0.21	0.3	0.49	-0.29		GLBE
	MNDY	DDOG	BILL	ASAN	TEAM	CFLT	TOST	DLO	GLBE

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

TEAM	+ 0.91	MNDY
CFLT	+ 0.81	MNDY
BILL	+ 0.79	MNDY
TEAM	+ 0.78	BILL
CFLT	+ 0.78	BILL
CFLT	+ 0.76	TEAM

High negative correlations

DLO	- 0.69	MNDY
DLO	- 0.53	TEAM
DLO	- 0.41	CFLT
ASAN	- 0.4	DDOG
DLO	- 0.39	BILL
GLBE	- 0.29	DLO

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
MNDY	2.22	(0.94)	0.00	(0.28)	0.00	0.00	3.64	(5.50)	33.83
DDOG	1.76	0.24	0.04	(0.28)	2.10	(1.95)	3.02	(4.01)	20.90
BILL	1.82	(0.12)	0.00	0.41	0.00	0.00	3.51	(3.98)	10.73
ASAN	2.38	(0.32)	0.00	0.92	0.00	0.00	3.90	(4.63)	25.21
TEAM	1.98	(0.47)	0.00	(0.19)	0.00	0.00	3.64	(5.42)	13.55
CFLT	2.14	(0.40)	0.00	(0.09)	0.00	0.00	4.02	(3.54)	37.01
TOST	1.76	(0.13)	(0.03)	0.00	2.51	(1.72)	3.28	(3.71)	11.20
DLO	2.50	0.31	0.18	0.25	1.93	(3.14)	4.89	(3.68)	35.03
GLBE	1.90	(0.09)	(0.02)	0.03	2.58	(2.02)	3.63	(4.13)	15.41

Gitlab Corporate Management

Sabrina Farmer	Chief Officer	Profile
Robert Allen	Chief Officer	Profile
David DeSanto	Chief Officer	Profile
Robin Schulman	Head Officer	Profile

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