Element Global Correlations

ELGL Stock

USD 0.0001 0.00 0.00%

A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Element Global moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Element Global moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

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Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in Element Global. 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.

For more information on how to buy Element Stock please use our How to buy in Element Stock guide.

Moving together with Element Stock

1.0	SHCC	Shi Corporation	Pair Corr
1.0	HDVTY	Henderson Investment	Pair Corr

Related Correlations Analysis

	FIP	CODI	MATW	HY	NWPX	ASPN	NX	EH	LTBR
FIP		0.4	-0.32	0.72	-0.1	0.6	0.52	0.45	0.63	FIP
CODI	0.4		-0.74	0.51	-0.73	0.72	-0.13	0.63	0.7	CODI
MATW	-0.32	-0.74		-0.38	0.68	-0.72	0.39	-0.77	-0.8	MATW
HY	0.72	0.51	-0.38		-0.36	0.8	0.52	0.73	0.71	HY
NWPX	-0.1	-0.73	0.68	-0.36		-0.68	0.26	-0.74	-0.62	NWPX
ASPN	0.6	0.72	-0.72	0.8	-0.68		0.21	0.92	0.92	ASPN
NX	0.52	-0.13	0.39	0.52	0.26	0.21		0.04	0.05	NX
EH	0.45	0.63	-0.77	0.73	-0.74	0.92	0.04		0.89	EH
LTBR	0.63	0.7	-0.8	0.71	-0.62	0.92	0.05	0.89		LTBR
	FIP	CODI	MATW	HY	NWPX	ASPN	NX	EH	LTBR

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

EH	+ 0.92	ASPN
LTBR	+ 0.92	ASPN
LTBR	+ 0.89	EH
ASPN	+ 0.8	HY
EH	+ 0.73	HY
HY	+ 0.72	FIP

High negative correlations

LTBR	- 0.8	MATW
EH	- 0.77	MATW
EH	- 0.74	NWPX
MATW	- 0.74	CODI
NWPX	- 0.73	CODI
ASPN	- 0.72	MATW

Risk-Adjusted Indicators

There is a big difference between Element Stock performing well and Element 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 Element 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
FIP	3.37	0.11	0.04	0.14	3.66	(3.84)	7.45	(6.73)	18.25
CODI	4.13	(0.46)	0.00	(0.45)	0.00	0.00	7.26	(7.77)	35.96
MATW	1.43	0.17	0.07	1.18	1.44	(1.55)	3.42	(2.50)	13.21
HY	2.05	(0.35)	0.00	(0.12)	0.00	0.00	3.85	(3.45)	20.40
NWPX	1.42	0.23	0.14	0.28	1.31	(1.59)	3.78	(2.66)	10.96
ASPN	4.05	(1.19)	0.00	(0.32)	0.00	0.00	7.63	(7.06)	56.65
NX	2.04	0.10	0.06	0.13	2.52	(2.07)	5.20	(4.72)	14.57
EH	2.05	(0.64)	0.00	(0.40)	0.00	0.00	4.62	(5.09)	14.52
LTBR	5.47	(0.73)	0.00	(0.07)	0.00	0.00	9.65	(10.77)	44.30

Element Global Corporate Management

Kara Craig	Secretary	Profile
Steven Gagnon	CoCEO COO	Profile
Tony Najjar	Chief Operations Officer and President of Commodities Division	Profile
John LaViolette	CoCEO Director	Profile

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