Godaddy Correlations

GDDY Stock

USD 96.09 1.98 2.02%

The current 90-days correlation between Godaddy and Corpay Inc is 0.39 (i.e., Weak diversification). The correlation of Godaddy 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.

Godaddy Correlation With Market

Pay attention - limited upside

The correlation between Godaddy and DJI is -0.73 (i.e., Pay attention - limited upside) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Godaddy and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Godaddy Stock

Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in Godaddy. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in unemployment.

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

Moving together with Godaddy Stock

0.83	FCT	Firstwave Cloud Tech	Pair Corr
0.71	SHOP	Shopify Buyout Trend	Pair Corr
0.85	SNOW	Snowflake	Pair Corr
0.8	CSAI	Cloudastructure Class	Pair Corr
0.68	BROGF	BROGF	Pair Corr
0.68	RVSN	Rail Vision Upward Rally	Pair Corr

Moving against Godaddy Stock

0.91	APETF	Alpha Esports Tech	Pair Corr
0.88	YLLXF	Yellow Cake plc	Pair Corr
0.79	AROC	Archrock Symbol Change	Pair Corr
0.68	BNKHF	BOC Hong Kong	Pair Corr
0.65	PLX	Protalix Biotherapeutics	Pair Corr
0.61	NFG	National Fuel Gas	Pair Corr
0.6	TIG	Team Internet Group	Pair Corr
0.58	PGEZF	Group Ten Metals	Pair Corr
0.43	SPLPP	Steel Partners Holdings	Pair Corr
0.37	CRH	CRH PLC ADR	Pair Corr
0.36	CRWV	CoreWeave Class A Aggressive Push	Pair Corr
0.93	ENS	Enersys Earnings Call Today	Pair Corr
0.92	TFLM	TFLM	Pair Corr
0.9	SECVY	Seche Environnement	Pair Corr
0.9	RILYL	B Riley Financial	Pair Corr
0.88	THO	Thor Industries	Pair Corr
0.87	COMP	Compass Aggressive Push	Pair Corr
0.86	OBYCF	Obayashi	Pair Corr
0.84	RCKY	Rocky Brands	Pair Corr
0.83	KCDMY	Kimberly Clark de	Pair Corr
0.83	NEWTH	NewtekOne 8625 percent	Pair Corr
0.75	FIBK	First Interstate Ban	Pair Corr
0.65	SCAGW	Scage Future Warrants	Pair Corr
0.56	MAT	Mattel Inc	Pair Corr
0.55	NSRPF	Novo Resources Corp	Pair Corr
0.43	AMPH	Amphastar P	Pair Corr

Related Correlations Analysis

	CPAY	GEN	CHKP	NTNX	VRSN	FFIV	J	TOST	IT	SSNC
CPAY		-0.16	-0.42	-0.7	-0.37	0.79	-0.18	-0.39	-0.27	-0.08	CPAY
GEN	-0.16		0.64	0.39	0.08	-0.39	-0.19	0.79	0.8	0.8	GEN
CHKP	-0.42	0.64		0.72	0.01	-0.49	0.45	0.78	0.45	0.44	CHKP
NTNX	-0.7	0.39	0.72		0.1	-0.71	0.5	0.65	0.4	0.22	NTNX
VRSN	-0.37	0.08	0.01	0.1		-0.37	-0.29	0.14	0.35	0.28	VRSN
FFIV	0.79	-0.39	-0.49	-0.71	-0.37		-0.17	-0.4	-0.31	-0.15	FFIV
J	-0.18	-0.19	0.45	0.5	-0.29	-0.17		0.1	-0.32	-0.36	J
TOST	-0.39	0.79	0.78	0.65	0.14	-0.4	0.1		0.85	0.8	TOST
IT	-0.27	0.8	0.45	0.4	0.35	-0.31	-0.32	0.85		0.93	IT
SSNC	-0.08	0.8	0.44	0.22	0.28	-0.15	-0.36	0.8	0.93		SSNC
	CPAY	GEN	CHKP	NTNX	VRSN	FFIV	J	TOST	IT	SSNC

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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

SSNC	+ 0.93	IT
IT	+ 0.85	TOST
IT	+ 0.8	GEN
SSNC	+ 0.8	GEN
SSNC	+ 0.8	TOST
FFIV	+ 0.79	CPAY

High negative correlations

FFIV	- 0.71	NTNX
NTNX	- 0.7	CPAY
FFIV	- 0.49	CHKP
CHKP	- 0.42	CPAY
TOST	- 0.4	FFIV
FFIV	- 0.39	GEN

Risk-Adjusted Indicators

There is a big difference between Godaddy Stock performing well and Godaddy 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 Godaddy'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
CPAY	1.86	0.39	0.22	0.42	1.43	(2.24)	4.46	(3.06)	11.08
GEN	1.31	(0.13)	0.00	(0.02)	0.00	0.00	2.32	(3.59)	9.21
CHKP	1.29	(0.19)	0.00	(0.14)	0.00	0.00	2.18	(2.74)	6.16
NTNX	2.27	(0.71)	0.00	2.15	0.00	0.00	3.99	(5.66)	21.74
VRSN	1.06	(0.12)	0.00	4.06	0.00	0.00	2.35	(2.96)	10.51
FFIV	1.38	0.13	0.08	0.20	1.35	(1.51)	3.75	(2.29)	11.43
J	1.33	(0.14)	0.00	(0.02)	0.00	0.00	2.75	(2.65)	11.74
TOST	2.16	(0.53)	0.00	(0.24)	0.00	0.00	3.32	(4.48)	14.93
IT	1.97	(0.64)	0.00	(0.45)	0.00	0.00	2.83	(4.50)	26.20
SSNC	1.08	(0.26)	0.00	(0.22)	0.00	0.00	1.74	(2.13)	13.44

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