GlobalTech Correlations

GLTK Stock

1.99 0.24 13.71%

The current 90-days correlation between GlobalTech and Ooma Inc is -0.01 (i.e., Good diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as GlobalTech moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if GlobalTech moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

GlobalTech Correlation With Market

Good diversification

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

The ability to find closely correlated positions to GlobalTech could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace GlobalTech 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 GlobalTech - 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 GlobalTech to buy it.

Moving together with GlobalTech Pink Sheet

0.68	AAPL	Apple Inc	Pair Corr
0.68	GOOG	Alphabet Class C Sell-off Trend	Pair Corr
0.71	ADC	Agree Realty	Pair Corr
0.62	REGN	Regeneron Pharmaceuticals	Pair Corr
0.75	CHACR	Crane Harbor Acquisition	Pair Corr
0.8	KYOCF	Kyocera	Pair Corr
0.77	STAG	STAG Industrial	Pair Corr
0.67	SMGKF	Smiths Group plc	Pair Corr
0.67	EGP	EastGroup Properties	Pair Corr
0.69	APGE	Apogee Therapeutics,	Pair Corr

Moving against GlobalTech Pink Sheet

0.62	META	Meta Platforms	Pair Corr
0.5	26442TAG2	US26442TAG22	Pair Corr
0.49	MSFT	Microsoft	Pair Corr
0.45	RGC	Regencell Bioscience Trending	Pair Corr
0.31	SKYT	Skywater Technology Tech Boost	Pair Corr
0.49	RYSKF	Reysas Tasimacilik	Pair Corr
0.42	AVTBF	Avant Brands	Pair Corr

Related Correlations Analysis

	OOMA	ATEX	ATNI	THRY	RDCM	CXDO	AMCX	AENT	NEXN	AREN
OOMA		0.2	-0.15	0.25	0.44	0.49	0.02	0.13	0.42	0.63	OOMA
ATEX	0.2		0.04	0.22	0.47	-0.11	0.37	0.48	0.06	0.12	ATEX
ATNI	-0.15	0.04		-0.84	-0.62	0.51	0.84	0.58	-0.89	-0.69	ATNI
THRY	0.25	0.22	-0.84		0.81	-0.45	-0.58	-0.48	0.91	0.7	THRY
RDCM	0.44	0.47	-0.62	0.81		-0.16	-0.23	-0.12	0.75	0.7	RDCM
CXDO	0.49	-0.11	0.51	-0.45	-0.16		0.45	0.41	-0.27	0.01	CXDO
AMCX	0.02	0.37	0.84	-0.58	-0.23	0.45		0.75	-0.66	-0.46	AMCX
AENT	0.13	0.48	0.58	-0.48	-0.12	0.41	0.75		-0.46	-0.23	AENT
NEXN	0.42	0.06	-0.89	0.91	0.75	-0.27	-0.66	-0.46		0.81	NEXN
AREN	0.63	0.12	-0.69	0.7	0.7	0.01	-0.46	-0.23	0.81		AREN
	OOMA	ATEX	ATNI	THRY	RDCM	CXDO	AMCX	AENT	NEXN	AREN

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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

NEXN	+ 0.91	THRY
AMCX	+ 0.84	ATNI
RDCM	+ 0.81	THRY
AREN	+ 0.81	NEXN
NEXN	+ 0.75	RDCM
AENT	+ 0.75	AMCX

High negative correlations

NEXN	- 0.89	ATNI
THRY	- 0.84	ATNI
AREN	- 0.69	ATNI
NEXN	- 0.66	AMCX
RDCM	- 0.62	ATNI
AMCX	- 0.58	THRY

Risk-Adjusted Indicators

There is a big difference between GlobalTech Pink Sheet performing well and GlobalTech 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 GlobalTech'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
OOMA	2.05	(0.28)	0.00	(0.13)	0.00	0.00	5.61	(3.54)	22.40
ATEX	2.27	(0.04)	(0.02)	(0.01)	2.99	(2.21)	3.83	(4.36)	20.21
ATNI	1.94	0.56	0.31	1.27	1.34	(2.71)	5.15	(2.94)	20.75
THRY	2.92	(1.09)	0.00	(0.38)	0.00	0.00	4.32	(6.26)	36.13
RDCM	1.75	(0.17)	0.00	(0.09)	0.00	0.00	4.26	(2.95)	10.91
CXDO	2.61	(0.20)	0.00	(0.01)	0.00	0.00	7.31	(5.29)	16.36
AMCX	1.95	0.28	0.12	0.28	1.92	(2.35)	4.07	(3.58)	11.16
AENT	3.34	0.26	0.06	0.92	3.70	(3.85)	8.65	(5.32)	25.74
NEXN	2.01	(0.59)	0.00	(0.29)	0.00	0.00	3.09	(3.89)	28.95
AREN	3.89	(0.74)	0.00	(0.49)	0.00	0.00	8.00	(7.13)	27.15

GlobalTech Related Equities

One of the popular trading techniques among algorithmic traders is to use market-neutral strategies where every trade hedges away some risk. Because there are two separate transactions required, even if one position performs unexpectedly, the other equity can make up some of the losses. Below are some of the equities that can be combined with GlobalTech pink sheet to make a market-neutral strategy. Peer analysis of GlobalTech could also be used in its relative valuation, which is a method of valuing GlobalTech by comparing valuation metrics with similar companies.

Ooma Inc Anterix ATN International Thryv Holdings Radcom Crexendo AMC Networks Alliance Entertainment Holding Nexxen International Arena Group Holdings American Airlines Group Alcoa Corp Apple Inc Best Buy Co Citigroup

Risk & Return

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