Gambling Correlations

GAMB Stock

USD 4.46 0.04 0.90%

The current 90-days correlation between Gambling Group and Codere Online Corp is 0.45 (i.e., Very weak diversification). The correlation of Gambling 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.

Gambling Correlation With Market

Very good diversification

The correlation between Gambling Group and DJI is -0.34 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Gambling Group and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Gambling Stock

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

0.66	WEN	The Wendys Earnings Call This Week	Pair Corr
0.84	ALL	Aristocrat Leisure	Pair Corr
0.71	PZZA	Papa Johns International	Pair Corr
0.66	NSFDF	NXT Energy Solutions	Pair Corr
0.67	MSFT	Microsoft	Pair Corr

Moving against Gambling Stock

0.74	SKC	Skycity Entertainment	Pair Corr
0.74	MTY	MTY Food Group Earnings Call This Week	Pair Corr
0.71	YUMC	Yum China Holdings Earnings Call Tomorrow	Pair Corr
0.69	RAVE	Rave Restaurant Group	Pair Corr
0.6	SBUX	Starbucks Aggressive Push	Pair Corr
0.58	CEH	Coast Entertainment	Pair Corr
0.57	CMG	Chipotle Mexican Grill Earnings Call Tomorrow	Pair Corr
0.57	YUM	Yum Brands	Pair Corr
0.53	MCD	McDonalds Earnings Call This Week	Pair Corr
0.51	DRI	Darden Restaurants	Pair Corr
0.5	SGR	The Star Entertainment	Pair Corr
0.48	JACK	Jack In	Pair Corr
0.48	BET	Betmakers Technology	Pair Corr
0.47	WING	Wingstop	Pair Corr
0.77	JNJ	Johnson Johnson	Pair Corr
0.63	CSCO	Cisco Systems Earnings Call Tomorrow	Pair Corr
0.61	XOM	Exxon Mobil Corp Aggressive Push	Pair Corr
0.61	WMT	Walmart Common Stock Aggressive Push	Pair Corr
0.58	PFE	Pfizer Inc Aggressive Push	Pair Corr
0.56	NFG	National Fuel Gas	Pair Corr
0.53	DD	Dupont De Nemours Earnings Call Today	Pair Corr
0.42	VZ	Verizon Communications Aggressive Push	Pair Corr
0.36	SHPHF	Sihuan Pharmaceutical	Pair Corr
0.31	FCAP	First Capital Downward Rally	Pair Corr
0.31	PG	Procter Gamble	Pair Corr

Related Correlations Analysis

	CDRO	INSE	ELA	LANV	WEYS	CHPT	MSC	ONEW	LOVE	STRT
CDRO		0.78	0.83	-0.51	0.19	-0.76	-0.77	-0.39	0.61	0.84	CDRO
INSE	0.78		0.79	-0.26	0.46	-0.43	-0.53	-0.15	0.81	0.75	INSE
ELA	0.83	0.79		-0.57	0.28	-0.66	-0.7	-0.17	0.62	0.84	ELA
LANV	-0.51	-0.26	-0.57		-0.19	0.75	0.68	-0.21	-0.14	-0.57	LANV
WEYS	0.19	0.46	0.28	-0.19		-0.04	-0.33	0.0	0.12	0.45	WEYS
CHPT	-0.76	-0.43	-0.66	0.75	-0.04		0.67	0.18	-0.32	-0.65	CHPT
MSC	-0.77	-0.53	-0.7	0.68	-0.33	0.67		0.32	-0.36	-0.77	MSC
ONEW	-0.39	-0.15	-0.17	-0.21	0.0	0.18	0.32		-0.04	-0.19	ONEW
LOVE	0.61	0.81	0.62	-0.14	0.12	-0.32	-0.36	-0.04		0.53	LOVE
STRT	0.84	0.75	0.84	-0.57	0.45	-0.65	-0.77	-0.19	0.53		STRT
	CDRO	INSE	ELA	LANV	WEYS	CHPT	MSC	ONEW	LOVE	STRT

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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

STRT	+ 0.84	CDRO
STRT	+ 0.84	ELA
ELA	+ 0.83	CDRO
LOVE	+ 0.81	INSE
ELA	+ 0.79	INSE
INSE	+ 0.78	CDRO

High negative correlations

STRT	- 0.77	MSC
MSC	- 0.77	CDRO
CHPT	- 0.76	CDRO
MSC	- 0.7	ELA
CHPT	- 0.66	ELA
STRT	- 0.65	CHPT

Risk-Adjusted Indicators

There is a big difference between Gambling Stock performing well and Gambling 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 Gambling'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
CDRO	1.90	0.35	0.17	0.59	1.59	(2.54)	5.98	(3.39)	14.50
INSE	2.27	0.11	0.06	0.14	2.76	(2.29)	3.97	(4.58)	18.56
ELA	3.68	0.52	0.12	0.41	3.91	(4.06)	10.52	(8.09)	25.60
LANV	3.86	(0.49)	0.00	(9.27)	0.00	0.00	8.54	(8.10)	21.80
WEYS	2.08	0.15	0.06	0.19	2.99	(2.48)	4.68	(2.83)	27.19
CHPT	3.20	(0.94)	0.00	(0.27)	0.00	0.00	6.02	(6.84)	31.33
MSC	3.80	(0.16)	0.00	0.33	0.00	0.00	7.67	(7.93)	25.28
ONEW	2.87	(0.33)	0.00	(0.04)	0.00	0.00	5.92	(5.54)	14.64
LOVE	2.69	(0.20)	0.00	(0.01)	0.00	0.00	6.06	(6.61)	20.21
STRT	2.15	0.33	0.16	0.27	2.00	(2.60)	5.49	(2.94)	11.37

Gambling Corporate Management

Max Bichsel	Executive America	Profile
Ellen Monaghan	Senior People	Profile
Peter McGough	Vice Relations	Profile
Derek Brookmeyer	Director Communications	Profile
Charles Gillespie	CEO CoFounder	Profile
Kevin McCrystle	CoFounder COO	Profile

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