Global Engine Correlations

GLE Stock

0.38 0.03 7.32%

The current 90-days correlation between Global Engine Group and The GrowHub Limited is -0.04 (i.e., Good diversification). The correlation of Global Engine 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.

Global Engine Correlation With Market

Modest diversification

The correlation between Global Engine Group and DJI is 0.29 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Global Engine Group and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Global Stock

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

Moving together with Global Stock

0.73	ORKT	Orangekloud Technology	Pair Corr
0.8	KYP	Kinatico	Pair Corr
0.88	CRCL	Circle Internet Group	Pair Corr
0.82	DAVA	Endava	Pair Corr

Moving against Global Stock

0.53	300525	Fujian Boss Software	Pair Corr
0.51	WIT	Wipro Limited ADR Earnings Call This Week	Pair Corr
0.48	ACN	Accenture plc	Pair Corr
0.45	INFY	Infosys Ltd ADR Earnings Call This Week	Pair Corr
0.4	DTL	Data 3	Pair Corr
0.32	DXC	DXC Technology	Pair Corr
0.79	300300	Strait Innovation	Pair Corr
0.53	MZDAF	Mazda Motor	Pair Corr

Related Correlations Analysis

	TGHL	CXAI	BLIN	TAIT	STEC	AMST	DTSS	ARBB	GIGM	IPM
TGHL		0.85	0.79	0.77	0.49	0.75	0.78	0.29	0.48	0.55	TGHL
CXAI	0.85		0.95	0.93	0.61	0.95	0.95	0.09	0.67	0.67	CXAI
BLIN	0.79	0.95		0.88	0.49	0.95	0.94	0.19	0.67	0.6	BLIN
TAIT	0.77	0.93	0.88		0.64	0.91	0.9	0.01	0.71	0.69	TAIT
STEC	0.49	0.61	0.49	0.64		0.59	0.55	0.03	0.47	0.71	STEC
AMST	0.75	0.95	0.95	0.91	0.59		0.95	0.12	0.73	0.65	AMST
DTSS	0.78	0.95	0.94	0.9	0.55	0.95		0.09	0.71	0.66	DTSS
ARBB	0.29	0.09	0.19	0.01	0.03	0.12	0.09		-0.08	-0.06	ARBB
GIGM	0.48	0.67	0.67	0.71	0.47	0.73	0.71	-0.08		0.42	GIGM
IPM	0.55	0.67	0.6	0.69	0.71	0.65	0.66	-0.06	0.42		IPM
	TGHL	CXAI	BLIN	TAIT	STEC	AMST	DTSS	ARBB	GIGM	IPM

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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

BLIN	+ 0.95	CXAI
AMST	+ 0.95	CXAI
DTSS	+ 0.95	CXAI
AMST	+ 0.95	BLIN
DTSS	+ 0.95	AMST
DTSS	+ 0.94	BLIN

High negative correlations

GIGM	- 0.08	ARBB
IPM	- 0.06	ARBB

Risk-Adjusted Indicators

There is a big difference between Global Stock performing well and Global Engine 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 Global Engine'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
TGHL	5.82	(1.70)	0.00	(1.30)	0.00	0.00	11.11	(13.41)	58.63
CXAI	4.72	(1.51)	0.00	(0.63)	0.00	0.00	8.11	(10.87)	36.84
BLIN	2.76	(0.96)	0.00	(0.43)	0.00	0.00	3.19	(7.78)	22.82
TAIT	3.55	(0.84)	0.00	(0.35)	0.00	0.00	4.31	(6.78)	52.10
STEC	5.92	0.43	0.08	0.35	5.46	(7.82)	14.44	(9.37)	48.33
AMST	3.18	(0.99)	0.00	(0.47)	0.00	0.00	5.48	(8.49)	30.71
DTSS	4.37	(1.59)	0.00	(0.32)	0.00	0.00	7.23	(12.60)	31.30
ARBB	5.35	0.05	(0.01)	(0.08)	6.90	(6.18)	19.61	(13.91)	41.45
GIGM	1.66	(0.12)	0.00	0.40	0.00	0.00	3.31	(3.01)	10.99
IPM	1.56	(0.18)	0.00	(0.31)	0.00	0.00	2.96	(4.35)	13.88

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