Great Elm Correlations

Stocks . USA . 
Stock . Great Elm Capital
GECCZ Stock   25.37  0.06  0.24%   
The current 90-days correlation between Great Elm Capital and 51Talk Online Education is -0.23 (i.e., Very good diversification). The correlation of Great Elm 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.

Great Elm Correlation With Market

Significant diversification

The correlation between Great Elm Capital and DJI is 0.08 (i.e., Significant 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

  0.64SAIHW SAIHEAT Limited Symbol ChangePairCorr
  0.82GECCI Great Elm CapitalPairCorr
  0.81GECCO Great Elm CapitalPairCorr

Moving against Great Stock

  0.81EVOL Evolving SystemsPairCorr
  0.72SBIGW SpringBig HoldingsPairCorr
  0.68VHAI VHAIPairCorr
  0.58XELAP Exela TechnologiesPairCorr
  0.55XELA Exela TechnologiesPairCorr
  0.54FAASW DigiAsia Corp Symbol ChangePairCorr
  0.33ELOX Eloxx PharmaceuticalsPairCorr
  0.83GROM Grom Social EnterprisesPairCorr
  0.81LPTV Loop Media Earnings Call This WeekPairCorr
  0.78ZPTA Zapata Computing Holdings Symbol ChangePairCorr
  0.77ZPTAW Zapata Computing HoldingsPairCorr
  0.75YAYO Yayyo IncPairCorr
  0.72WAI Top KingWin Symbol ChangePairCorr
  0.69LFLY Leafly HoldingsPairCorr
  0.68ARBKL Argo Blockchain plcPairCorr
  0.67WCT Wellchange Holdings Tech BoostPairCorr
  0.64GLXG Galaxy Payroll GroupPairCorr

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   
PLTK
+ 0.88
SCHL
DAO
+ 0.84
TSLA
DLX
+ 0.62
TSLA
PLTK
+ 0.62
AFYA
DAO
+ 0.52
COE
TSLA
+ 0.5
COE
  
High negative correlations   
SCHL
- 0.92
COE
PLTK
- 0.87
COE
AFYA
- 0.74
TSLA
AFYA
- 0.61
DAO
PLTK
- 0.58
TSLA
PLTK
- 0.56
DAO

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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