GlobalData Plc Correlations

GLDAF Stock

1.15 0.00 0.00%

The correlation of GlobalData Plc 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.

GlobalData Plc Correlation With Market

Modest diversification

The correlation between GlobalData Plc and DJI is 0.2 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding GlobalData Plc and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to GlobalData Plc could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace GlobalData Plc when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back GlobalData Plc - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling GlobalData Plc to buy it.

Moving together with GlobalData Pink Sheet

0.73	EXPGF	Experian PLC	Pair Corr
0.76	EXPGY	Experian plc PK	Pair Corr

Moving against GlobalData Pink Sheet

0.87	BYCRF	BayCurrent Consulting	Pair Corr
0.85	PPERY	Bank Mandiri Persero	Pair Corr
0.83	BVRDF	Bureau Veritas SA	Pair Corr
0.64	PPERF	Bank Mandiri Persero	Pair Corr
0.63	JPSTF	JAPAN POST BANK	Pair Corr
0.51	TRU	TransUnion	Pair Corr
0.46	PTBRY	Bank Negara Indonesia	Pair Corr
0.43	PBCRY	Bank Central Asia	Pair Corr
0.39	MBFJF	Mitsubishi UFJ Financial Normal Trading	Pair Corr
0.31	SGSOY	SGS SA	Pair Corr
0.83	FTI	TechnipFMC PLC Sell-off Trend	Pair Corr
0.79	DGWR	Critic Clothing	Pair Corr
0.79	LMND	Lemonade	Pair Corr
0.76	HIRU	Hiru	Pair Corr
0.72	TGS	Transportadora de Gas	Pair Corr
0.71	TPB	Turning Point Brands	Pair Corr
0.63	MZHOF	Mizuho Financial	Pair Corr
0.61	OODH	Orion Diversified Holding	Pair Corr
0.57	ATRO	Astronics	Pair Corr
0.43	BHC	Bausch Health Companies	Pair Corr
0.41	DC	Dakota Gold Corp	Pair Corr
0.4	PFE	Pfizer Inc	Pair Corr
0.36	VELO	Velo3D, Tech Boost	Pair Corr
0.35	URBN	Urban Outfitters	Pair Corr
0.32	CMTDF	Sumitomo Mitsui Trust	Pair Corr
0.83	NAUT	Nautilus Biotechnology	Pair Corr
0.8	FBKIF	First International Bank	Pair Corr
0.73	AER	AerCap Holdings NV	Pair Corr
0.69	UTRS	Minerva Surgical	Pair Corr
0.65	RIVN	Rivian Automotive Aggressive Push	Pair Corr
0.61	CALC	CalciMedica, Common Stock Trending	Pair Corr

Related Correlations Analysis

	CAH	DLAPQ	PTCHF	EPYFF	COUTF	CNLFF	SBRA	JDSPY
CAH		-0.05	-0.38	0.0	0.0	0.97	0.71	-0.85	CAH
DLAPQ	-0.05		-0.02	0.0	0.0	-0.02	-0.08	0.01	DLAPQ
PTCHF	-0.38	-0.02		0.0	0.0	-0.39	-0.35	0.47	PTCHF
EPYFF	0.0	0.0	0.0		-1.0	0.0	0.0	0.0	EPYFF
COUTF	0.0	0.0	0.0	-1.0		0.0	0.0	0.0	COUTF
CNLFF	0.97	-0.02	-0.39	0.0	0.0		0.69	-0.81	CNLFF
SBRA	0.71	-0.08	-0.35	0.0	0.0	0.69		-0.77	SBRA
JDSPY	-0.85	0.01	0.47	0.0	0.0	-0.81	-0.77		JDSPY
	CAH	DLAPQ	PTCHF	EPYFF	COUTF	CNLFF	SBRA	JDSPY

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

CNLFF	+ 0.97	CAH
SBRA	+ 0.71	CAH
SBRA	+ 0.69	CNLFF
JDSPY	+ 0.47	PTCHF
JDSPY	+ 0.01	DLAPQ
EPYFF	+ 0.0	CAH

High negative correlations

COUTF	- 1.0	EPYFF
JDSPY	- 0.85	CAH
JDSPY	- 0.81	CNLFF
JDSPY	- 0.77	SBRA
CNLFF	- 0.39	PTCHF
PTCHF	- 0.38	CAH

Risk-Adjusted Indicators

There is a big difference between GlobalData Pink Sheet performing well and GlobalData Plc 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 GlobalData Plc'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
CAH	1.07	0.47	0.29	81.10	0.81	(1.25)	2.69	(2.01)	18.07
DLAPQ	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
PTCHF	1.00	0.13	0.00	0.25	0.00	0.00	0.00	0.00	33.11
EPYFF	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
COUTF	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
CNLFF	0.62	0.23	0.00	(1.55)	0.00	0.00	0.00	0.00	20.24
SBRA	0.99	0.04	(0.03)	(3.28)	1.21	(1.04)	1.98	(1.76)	5.40
JDSPY	2.94	(0.04)	(0.01)	0.03	3.65	(3.37)	6.19	(6.25)	16.00

Be your own money manager

Our tools can tell you how much better you can do entering a position in GlobalData Plc without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.

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