Global Partners Correlations

GLP Stock

USD 45.34 1.07 2.42%

The current 90-days correlation between Global Partners LP and FLEX LNG is 0.06 (i.e., Significant diversification). The correlation of Global Partners 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.

Global Partners Correlation With Market

Significant diversification

The correlation between Global Partners LP and DJI is 0.04 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Global Partners LP 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 Partners LP. 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 against Global Stock

0.33	TRP	TC Energy Corp	Pair Corr
0.36	ACCR	Access Power	Pair Corr
0.34	HG	Hamilton Insurance Normal Trading	Pair Corr
0.34	BYOGF	Bounty Oil Gas	Pair Corr

Related Correlations Analysis

	FLNG	DNOW	EFXT	WKC	XPRO	NEXT	FLOC	LPG	INVX	NVGS
FLNG		-0.08	0.49	0.41	0.69	-0.29	0.55	0.34	0.63	0.68	FLNG
DNOW	-0.08		-0.06	0.33	0.29	0.01	-0.05	0.37	-0.02	-0.45	DNOW
EFXT	0.49	-0.06		0.12	0.53	-0.71	0.92	-0.07	0.81	0.69	EFXT
WKC	0.41	0.33	0.12		0.55	-0.38	0.33	0.91	0.17	0.02	WKC
XPRO	0.69	0.29	0.53	0.55		-0.27	0.62	0.48	0.78	0.54	XPRO
NEXT	-0.29	0.01	-0.71	-0.38	-0.27		-0.72	-0.24	-0.51	-0.38	NEXT
FLOC	0.55	-0.05	0.92	0.33	0.62	-0.72		0.13	0.79	0.7	FLOC
LPG	0.34	0.37	-0.07	0.91	0.48	-0.24	0.13		0.05	-0.05	LPG
INVX	0.63	-0.02	0.81	0.17	0.78	-0.51	0.79	0.05		0.79	INVX
NVGS	0.68	-0.45	0.69	0.02	0.54	-0.38	0.7	-0.05	0.79		NVGS
	FLNG	DNOW	EFXT	WKC	XPRO	NEXT	FLOC	LPG	INVX	NVGS

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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

FLOC	+ 0.92	EFXT
LPG	+ 0.91	WKC
INVX	+ 0.81	EFXT
INVX	+ 0.79	FLOC
NVGS	+ 0.79	INVX
INVX	+ 0.78	XPRO

High negative correlations

FLOC	- 0.72	NEXT
NEXT	- 0.71	EFXT
INVX	- 0.51	NEXT
NVGS	- 0.45	DNOW
NVGS	- 0.38	NEXT
NEXT	- 0.38	WKC

Risk-Adjusted Indicators

There is a big difference between Global Stock performing well and Global Partners 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 Partners' 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
FLNG	1.03	0.11	0.03	1.44	1.34	(1.08)	2.55	(2.05)	8.17
DNOW	1.59	(0.09)	(0.03)	0.00	2.16	(1.64)	3.90	(3.86)	11.62
EFXT	1.84	0.61	0.27	1.65	1.56	(2.13)	4.43	(3.16)	11.18
WKC	1.37	0.05	0.00	0.29	2.03	(1.37)	2.94	(3.35)	11.51
XPRO	2.34	0.27	0.11	0.27	2.50	(2.84)	5.94	(4.94)	14.92
NEXT	2.52	(0.21)	0.00	(0.20)	0.00	0.00	5.21	(6.04)	17.50
FLOC	1.92	0.51	0.18	(8.59)	1.95	(2.17)	4.18	(3.32)	23.77
LPG	1.59	0.08	0.01	0.46	2.06	(1.69)	3.34	(2.53)	11.45
INVX	1.97	0.51	0.23	1.29	1.57	(2.23)	5.81	(2.95)	12.82
NVGS	1.06	0.30	0.22	4.28	0.79	(1.32)	2.82	(1.42)	7.71

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