Goldenbridge Acquisition Correlations

GBRGW Stock

USD 0.35 0.01 2.94%

The current 90-days correlation between Goldenbridge Acquisition and Goldenstone Acquisition is 0.12 (i.e., Average diversification). The correlation of Goldenbridge Acquisition 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. If the correlation is 0, the equities are not correlated; they are entirely random.

Goldenbridge Acquisition Correlation With Market

Significant diversification

The correlation between Goldenbridge Acquisition Limit and DJI is 0.06 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Goldenbridge Acquisition Limit and DJI in the same portfolio, assuming nothing else is changed.

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

0.67	DIST	Distoken Acquisition	Pair Corr
0.76	DX	Dynex Capital	Pair Corr
0.77	LX	Lexinfintech Holdings Buyout Trend	Pair Corr
0.73	PX	P10 Inc	Pair Corr
0.67	QD	Qudian Inc	Pair Corr
0.75	RM	Regional Management Corp Normal Trading	Pair Corr
0.74	DMYY	dMY Squared Technology	Pair Corr
0.64	VIRT	Virtu Financial Earnings Call This Week	Pair Corr
0.62	DYCQ	DT Cloud Acquisition	Pair Corr

Moving against Goldenbridge Stock

0.78	XP	Xp Inc	Pair Corr
0.45	WD	Walker Dunlop Normal Trading	Pair Corr
0.37	TETEU	Technology Telecommunicatio	Pair Corr
0.31	EMCGU	Embrace Change Acqui	Pair Corr

Related Correlations Analysis

	GDSTW	GDST	AQUI	MSTSX	LBHIX	VIASP	RRTLX	OSHDF	70082LAB3	SITKF
GDSTW		0.18	0.02	-0.03	-0.4	-0.26	-0.22	-0.15	-0.34	0.17	GDSTW
GDST	0.18		-0.62	-0.64	-0.05	0.49	-0.64	0.59	-0.09	-0.27	GDST
AQUI	0.02	-0.62		0.97	-0.12	-0.79	0.75	-0.89	-0.23	0.58	AQUI
MSTSX	-0.03	-0.64	0.97		-0.04	-0.82	0.86	-0.92	-0.26	0.64	MSTSX
LBHIX	-0.4	-0.05	-0.12	-0.04		0.44	0.34	0.25	0.58	-0.39	LBHIX
VIASP	-0.26	0.49	-0.79	-0.82	0.44		-0.56	0.94	0.67	-0.85	VIASP
RRTLX	-0.22	-0.64	0.75	0.86	0.34	-0.56		-0.71	-0.01	0.43	RRTLX
OSHDF	-0.15	0.59	-0.89	-0.92	0.25	0.94	-0.71		0.49	-0.73	OSHDF
70082LAB3	-0.34	-0.09	-0.23	-0.26	0.58	0.67	-0.01	0.49		-0.74	70082LAB3
SITKF	0.17	-0.27	0.58	0.64	-0.39	-0.85	0.43	-0.73	-0.74		SITKF
	GDSTW	GDST	AQUI	MSTSX	LBHIX	VIASP	RRTLX	OSHDF	70082LAB3	SITKF

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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

MSTSX	+ 0.97	AQUI
OSHDF	+ 0.94	VIASP
RRTLX	+ 0.86	MSTSX
RRTLX	+ 0.75	AQUI
70082LAB3	+ 0.67	VIASP
SITKF	+ 0.64	MSTSX

High negative correlations

OSHDF	- 0.92	MSTSX
OSHDF	- 0.89	AQUI
SITKF	- 0.85	VIASP
VIASP	- 0.82	MSTSX
VIASP	- 0.79	AQUI
SITKF	- 0.74	70082LAB3

Risk-Adjusted Indicators

There is a big difference between Goldenbridge Stock performing well and Goldenbridge Acquisition 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 Goldenbridge Acquisition'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
GDSTW	19.77	5.03	0.15	0.99	20.96	(27.15)	54.80	(42.35)	155.68
GDST	0.03	0.00	0.00	(1.62)	0.00	0.00	0.00	0.00	0.98
AQUI	2.79	(1.39)	0.00	0.79	0.00	0.00	0.00	0.00	93.33
MSTSX	0.58	(0.16)	0.00	6.35	0.00	0.00	0.87	(1.20)	7.06
LBHIX	0.14	0.01	(0.03)	0.34	0.00	(0.31)	0.48	(0.24)	1.19
VIASP	0.62	0.19	0.23	3.36	0.41	(0.73)	1.40	(1.18)	5.04
RRTLX	0.26	(0.03)	0.00	(0.19)	0.00	0.00	0.50	(0.57)	2.04
OSHDF	46.68	24.35	0.00	(1.63)	0.00	0.00	0.00	0.00	1,329
70082LAB3	0.64	0.10	0.08	0.40	0.80	(0.79)	1.78	(0.74)	6.86
SITKF	4.77	(0.73)	0.00	0.92	0.00	0.00	10.00	(9.37)	31.51

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