Global Partners Correlations

GLP Stock

USD 42.48 0.49 1.14%

The current 90-days correlation between Global Partners LP and FLEX LNG is -0.09 (i.e., Good 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

Modest diversification

The correlation between Global Partners LP 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 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 board of governors.

Moving against Global Stock

0.61	ET-PI	Energy Transfer LP	Pair Corr
0.57	BCH	Banco De Chile Normal Trading	Pair Corr
0.54	AVAL	Grupo Aval	Pair Corr
0.5	KNOP	KNOT Offshore Partners	Pair Corr
0.49	TGS	Transportadora de Gas	Pair Corr
0.47	SHG	Shinhan Financial	Pair Corr
0.43	DHT	DHT Holdings	Pair Corr
0.43	0RMV	TechnipFMC PLC	Pair Corr
0.42	MPLX	MPLX LP	Pair Corr
0.42	TRGP	Targa Resources	Pair Corr
0.41	KB	KB Financial Group	Pair Corr
0.39	DLNG	Dynagas LNG Partners	Pair Corr
0.35	TNK	Teekay Tankers	Pair Corr
0.59	CICOY	COSCO SHIPPING Holdings	Pair Corr
0.58	LCDX	Caliber Imaging Diag	Pair Corr
0.56	CASXF	Casa Minerals	Pair Corr
0.55	NAUFF	NevGold Corp	Pair Corr
0.52	TMSNY	Temenos Group AG	Pair Corr
0.45	CTOWY	China TowerLimited	Pair Corr
0.45	DB	Deutsche Bank AG	Pair Corr
0.43	DGWPF	Drgerwerk AG	Pair Corr
0.42	ADAMI	New York Mortgage Symbol Change	Pair Corr
0.41	ARVN	Arvinas	Pair Corr
0.41	FTV	Fortive Corp	Pair Corr
0.4	EDRVY	EDP Renovveis SA	Pair Corr
0.33	SYF	Synchrony Financial	Pair Corr

Related Correlations Analysis

	FLNG	DNOW	EFXT	WKC	XPRO	NEXT	FLOC	LPG	INVX	NVGS
FLNG		-0.43	0.5	-0.46	0.53	-0.21	0.47	-0.24	0.63	0.78	FLNG
DNOW	-0.43		-0.44	0.66	-0.23	0.53	-0.37	0.58	-0.48	-0.64	DNOW
EFXT	0.5	-0.44		-0.64	0.55	-0.71	0.94	-0.68	0.85	0.8	EFXT
WKC	-0.46	0.66	-0.64		-0.3	0.45	-0.56	0.86	-0.64	-0.68	WKC
XPRO	0.53	-0.23	0.55	-0.3		-0.22	0.59	-0.26	0.78	0.67	XPRO
NEXT	-0.21	0.53	-0.71	0.45	-0.22		-0.6	0.5	-0.51	-0.53	NEXT
FLOC	0.47	-0.37	0.94	-0.56	0.59	-0.6		-0.58	0.81	0.78	FLOC
LPG	-0.24	0.58	-0.68	0.86	-0.26	0.5	-0.58		-0.61	-0.55	LPG
INVX	0.63	-0.48	0.85	-0.64	0.78	-0.51	0.81	-0.61		0.89	INVX
NVGS	0.78	-0.64	0.8	-0.68	0.67	-0.53	0.78	-0.55	0.89		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	+ 0.94	EFXT
NVGS	+ 0.89	INVX
LPG	+ 0.86	WKC
INVX	+ 0.85	EFXT
INVX	+ 0.81	FLOC
NVGS	+ 0.8	EFXT

High negative correlations

NEXT	- 0.71	EFXT
NVGS	- 0.68	WKC
LPG	- 0.68	EFXT
INVX	- 0.64	WKC
WKC	- 0.64	EFXT
NVGS	- 0.64	DNOW

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	1.06	0.01	(0.04)	0.35	1.42	(1.15)	2.09	(2.05)	8.17
DNOW	1.60	(0.22)	0.00	(0.34)	0.00	0.00	2.85	(4.14)	11.62
EFXT	1.74	0.47	0.21	0.54	1.79	(1.95)	3.44	(3.16)	10.84
WKC	1.21	(0.06)	0.00	(0.04)	0.00	0.00	2.94	(2.36)	8.25
XPRO	2.41	0.15	0.06	0.17	2.82	(2.54)	5.44	(4.94)	14.92
NEXT	2.37	(0.33)	0.00	(0.32)	0.00	0.00	5.15	(5.42)	17.96
FLOC	1.96	0.25	0.11	0.21	2.43	(2.08)	3.29	(4.26)	23.77
LPG	1.40	(0.23)	0.00	(0.32)	0.00	0.00	2.31	(2.89)	11.45
INVX	2.01	0.31	0.14	0.41	1.92	(2.25)	5.81	(3.58)	12.82
NVGS	1.04	0.15	0.09	0.52	1.01	(1.25)	2.63	(2.30)	5.93

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