GREENLIGHT CAP Correlations

G8L Stock

EUR 13.30 0.40 2.92%

The current 90-days correlation between GREENLIGHT CAP RE and Gladstone Investment is 0.07 (i.e., Significant diversification). The correlation of GREENLIGHT CAP 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.

GREENLIGHT CAP Correlation With Market

Very weak diversification

The correlation between GREENLIGHT CAP RE and DJI is 0.52 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding GREENLIGHT CAP RE and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to GREENLIGHT CAP could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace GREENLIGHT CAP when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back GREENLIGHT CAP - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling GREENLIGHT CAP RE to buy it.

Moving together with GREENLIGHT Stock

0.69	APC	Apple Inc	Pair Corr
0.69	APC	Apple Inc	Pair Corr
0.69	APC	Apple Inc	Pair Corr
0.69	APC	Apple Inc	Pair Corr
0.73	MSF	Microsoft	Pair Corr
0.71	MSF	Microsoft	Pair Corr
0.72	MSF	Microsoft	Pair Corr
0.71	MSF	Microsoft	Pair Corr
0.71	MSF	Microsoft	Pair Corr
0.83	AMZ	Amazon Inc	Pair Corr
0.62	WDC	WESTERN DIGITAL	Pair Corr
0.62	WDC	WESTERN DIGITAL	Pair Corr
0.64	WDC	WESTERN DIGITAL	Pair Corr
0.9	CYL	CryoLife	Pair Corr
0.9	CYL	CRYOLIFE	Pair Corr
0.96	UFH	US FOODS HOLDING	Pair Corr
0.88	2T9A	TRAINLINE PLC LS	Pair Corr
0.73	KOMA	KOMATSU LTD SPONS	Pair Corr
0.73	HXL	Hexcel	Pair Corr
0.89	SK3	Smurfit Kappa Group	Pair Corr
0.69	WX7	Corporate Office Pro	Pair Corr
0.77	AZ5	AutoZone	Pair Corr
0.86	EQN2	Equinix	Pair Corr
0.9	PPB	Flutter Entertainment PLC	Pair Corr
0.88	2WY	Wyndham Hotels Resorts	Pair Corr
0.86	WX1	Acadia Realty Trust	Pair Corr
0.69	APC	Apple Inc	Pair Corr
0.62	4GE	Grupo Mxico SAB	Pair Corr
0.87	0XHR	Xenia Hotels Resorts	Pair Corr
0.9	FFH	Fifth Third Bancorp	Pair Corr
0.89	PTX	Palantir Technologies	Pair Corr

Moving against GREENLIGHT Stock

0.71	EII	Eisai	Pair Corr
0.55	AXI	Atos SE	Pair Corr

Related Correlations Analysis

	ZSL	XFB	DNN	SEH	MUG	1G3	BXU	SI3
ZSL		-0.39	-0.55	-0.69	0.34	0.61	0.28	0.96	ZSL
XFB	-0.39		-0.08	0.47	-0.11	-0.14	0.33	-0.42	XFB
DNN	-0.55	-0.08		0.42	-0.02	-0.21	-0.26	-0.6	DNN
SEH	-0.69	0.47	0.42		0.27	-0.39	0.07	-0.78	SEH
MUG	0.34	-0.11	-0.02	0.27		-0.03	0.47	0.18	MUG
1G3	0.61	-0.14	-0.21	-0.39	-0.03		-0.05	0.61	1G3
BXU	0.28	0.33	-0.26	0.07	0.47	-0.05		0.18	BXU
SI3	0.96	-0.42	-0.6	-0.78	0.18	0.61	0.18		SI3
	ZSL	XFB	DNN	SEH	MUG	1G3	BXU	SI3

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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

SI3	+ 0.96	ZSL
1G3	+ 0.61	ZSL
SI3	+ 0.61	1G3
SEH	+ 0.47	XFB
BXU	+ 0.47	MUG
SEH	+ 0.42	DNN

High negative correlations

SI3	- 0.78	SEH
SEH	- 0.69	ZSL
SI3	- 0.6	DNN
DNN	- 0.55	ZSL
SI3	- 0.42	XFB
1G3	- 0.39	SEH

Risk-Adjusted Indicators

There is a big difference between GREENLIGHT Stock performing well and GREENLIGHT CAP 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 GREENLIGHT CAP'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
ZSL	1.00	0.23	0.19	0.96	0.78	(1.16)	3.08	(1.86)	6.78
XFB	2.27	(0.03)	0.00	(0.08)	0.00	0.00	6.56	(4.97)	16.67
DNN	1.85	0.08	0.01	0.42	2.79	(10.27)	7.69	(7.14)	35.58
SEH	1.45	(0.27)	0.00	(0.55)	0.00	0.00	3.09	(3.48)	8.63
MUG	1.09	(0.05)	0.00	(0.26)	0.00	0.00	2.38	(2.30)	6.57
1G3	1.43	0.15	0.06	(2.07)	1.71	(1.50)	3.56	(2.39)	12.42
BXU	1.28	0.03	0.01	0.10	1.58	(2.69)	2.56	(2.50)	9.64
SI3	0.88	0.36	0.12	1.84	0.70	(1.69)	2.50	(1.43)	10.36

Be your own money manager

Our tools can tell you how much better you can do entering a position in GREENLIGHT CAP without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.

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