Great Elm Correlations

Stocks . USA . 
Stock . Great Elm Capital
GECCO Stock  USD 25.29  0.30  1.20%   
A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Great Elm moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Great Elm Capital moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Great Elm Correlation With Market

Good diversification

The correlation between Great Elm Capital and DJI is -0.13 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Great Elm Capital 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 Great Elm Capital. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in main economic indicators.

Moving together with Great Stock

  0.63GCMGW GCM GrosvenorPairCorr
  0.74OCCIM OFS Credit ,PairCorr
  0.67FDUS Fidus Investment CorpPairCorr
  0.61INV Innventure,PairCorr

Moving against Great Stock

  0.82PSEC-PA Prospect Capital Earnings Call This WeekPairCorr
  0.73DHIL Diamond Hill InvestmentPairCorr
  0.7CNS Cohen SteersPairCorr
  0.69STT-PG State StreetPairCorr
  0.68VRTS Virtus Investment Earnings Call TomorrowPairCorr
  0.66WT WisdomTree Earnings Call TomorrowPairCorr
  0.61VINP Vinci Partners InvesPairCorr
  0.56FHI Federated InvestorsPairCorr
  0.53JHG Janus Henderson Group Earnings Call This WeekPairCorr
  0.43AC Associated Capital Earnings Call This WeekPairCorr
  0.4HPH Highest Performances Symbol ChangePairCorr
  0.34EQS Equus Total ReturnPairCorr
  0.85HLNE Hamilton Lane Earnings Call This WeekPairCorr
  0.68NTRSO Northern TrustPairCorr
  0.65PFG Principal FinancialPairCorr
  0.56GAIN Gladstone Investment Earnings Call This WeekPairCorr
  0.47SII Sprott IncPairCorr
  0.47WHF WhiteHorse FinancePairCorr
  0.42PAX Patria InvestmentsPairCorr
  0.42WHG Westwood HoldingsPairCorr
  0.38LRFC Logan Ridge FinancePairCorr

Related Correlations Analysis

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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   
RILYK
+ 0.8
GAINN
GECCN
+ 0.0
GECCM
GAINN
+ 0.0
GECCM
RILYK
+ 0.0
GECCM
OXSQL
+ 0.0
GECCM
GAINN
+ 0.0
GECCN
  
High negative correlations   
OXSQL
- 0.0
RILYK
OXSQL
- 0.0
GAINN
OXSQL
- 0.0
GECCN
RILYK
- 0.0
GECCN
GAINN
- 0.0
GECCN
OXSQL
- 0.0
GECCM

Risk-Adjusted Indicators

There is a big difference between Great Stock performing well and Great Elm 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 Great Elm'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.

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