Adtalem Global Correlations

ATGE Stock

USD 98.17 0.83 0.85%

The current 90-days correlation between Adtalem Global Education and Grand Canyon Education is 0.64 (i.e., Poor diversification). The correlation of Adtalem Global 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.

Adtalem Global Correlation With Market

Average diversification

The correlation between Adtalem Global Education and DJI is 0.17 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Adtalem Global Education and DJI in the same portfolio, assuming nothing else is changed.

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Adtalem Global Education. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in price.

Moving together with Adtalem Stock

0.76	EEIQ	Elite Education Group Earnings Call This Week	Pair Corr
0.67	DAO	Youdao Inc	Pair Corr
0.78	GHC	Graham Holdings	Pair Corr
0.88	LRN	Stride Inc Earnings Call This Week	Pair Corr
0.86	UTI	Universal Technical	Pair Corr
0.9	LAUR	Laureate Education	Pair Corr
0.75	LGCY	Legacy Education	Pair Corr
0.86	LINC	Lincoln Educational	Pair Corr
0.93	LOPE	Grand Canyon Education	Pair Corr
0.9	PRDO	Perdoceo Education Corp	Pair Corr
0.87	APEI	American Public Education	Pair Corr
0.77	STRA	Strategic Education	Pair Corr

Moving against Adtalem Stock

0.79	GOTU	Gaotu Techedu DRC	Pair Corr
0.78	FEDU	Four Seasons Education Downward Rally	Pair Corr
0.78	STG	Sunlands Technology	Pair Corr
0.77	YQ	17 Education Technology	Pair Corr
0.75	IH	Ihuman Inc	Pair Corr
0.75	KLC	KinderCare Learning	Pair Corr
0.7	GSUN	Golden Sun Education	Pair Corr
0.59	WAFU	Wah Fu Education	Pair Corr
0.54	VSTA	Vasta Platform	Pair Corr
0.54	QSG	QuantaSing Group	Pair Corr
0.54	TAL	TAL Education Group Earnings Call This Week	Pair Corr
0.53	EDU	New Oriental Education Earnings Call This Week	Pair Corr
0.84	ASPU	Aspen Group	Pair Corr
0.72	TCTM	Tarena International	Pair Corr
0.57	BEDU	Bright Scholar Education	Pair Corr
0.37	AFYA	Afya	Pair Corr
0.36	F	Ford Motor Aggressive Push	Pair Corr

Related Correlations Analysis

	LOPE	AFYA	ARCE	BEDU	LAUR	APEI	STRA	LINC
LOPE		-0.29	0.59	-0.4	0.94	0.89	0.92	0.96	LOPE
AFYA	-0.29		-0.23	0.44	-0.21	-0.58	-0.15	-0.17	AFYA
ARCE	0.59	-0.23		-0.53	0.57	0.58	0.39	0.54	ARCE
BEDU	-0.4	0.44	-0.53		-0.35	-0.49	-0.15	-0.34	BEDU
LAUR	0.94	-0.21	0.57	-0.35		0.85	0.88	0.93	LAUR
APEI	0.89	-0.58	0.58	-0.49	0.85		0.79	0.86	APEI
STRA	0.92	-0.15	0.39	-0.15	0.88	0.79		0.93	STRA
LINC	0.96	-0.17	0.54	-0.34	0.93	0.86	0.93		LINC
	LOPE	AFYA	ARCE	BEDU	LAUR	APEI	STRA	LINC

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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

LINC	+ 0.96	LOPE
LAUR	+ 0.94	LOPE
LINC	+ 0.93	LAUR
LINC	+ 0.93	STRA
STRA	+ 0.92	LOPE
APEI	+ 0.89	LOPE

High negative correlations

APEI	- 0.58	AFYA
BEDU	- 0.53	ARCE
APEI	- 0.49	BEDU
BEDU	- 0.4	LOPE
LAUR	- 0.35	BEDU
LINC	- 0.34	BEDU

Risk-Adjusted Indicators

There is a big difference between Adtalem Stock performing well and Adtalem Global 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 Adtalem Global'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
LOPE	1.34	0.39	0.31	0.58	0.92	(1.65)	2.66	(1.78)	17.97
AFYA	1.46	(0.05)	0.00	(0.09)	0.00	0.00	2.68	(3.64)	9.27
ARCE	1.28	0.29	0.21	219.49	1.05	(1.62)	3.61	(2.22)	17.65
BEDU	3.11	(0.08)	0.00	0.08	0.00	0.00	7.53	(6.00)	30.23
LAUR	1.29	0.32	0.19	0.35	1.35	(1.37)	2.95	(2.16)	14.56
APEI	2.10	0.68	0.28	2.02	1.83	(2.49)	6.03	(3.21)	21.66
STRA	1.15	0.17	0.12	0.30	1.30	(1.23)	2.48	(1.93)	13.91
LINC	2.01	0.41	0.17	0.54	2.05	(2.22)	4.40	(3.85)	14.72

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