GameStop Corp Correlations

GME Stock

USD 23.64 0.57 2.35%

The current 90-days correlation between GameStop Corp and Maplebear is 0.19 (i.e., Average diversification). The correlation of GameStop Corp 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.

GameStop Corp Correlation With Market

Average diversification

The correlation between GameStop Corp and DJI is 0.12 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding GameStop Corp and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with GameStop Stock

Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in GameStop Corp. 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.

For information on how to trade GameStop Stock refer to our How to Trade GameStop Stock guide.

Moving against GameStop Stock

0.42	PAIYY	Aesthetic Medical	Pair Corr
0.34	SGAPY	Singapore Telecommunicatio	Pair Corr

Related Correlations Analysis

	CART	VIPS	NCLH	DDS	MUSA	TXRH	FIVE	PAG	MNSO	QS
CART		0.47	0.23	0.59	0.33	-0.07	0.46	0.63	-0.54	-0.59	CART
VIPS	0.47		-0.43	0.18	-0.4	-0.52	-0.36	0.25	0.07	0.09	VIPS
NCLH	0.23	-0.43		0.26	0.62	0.41	0.69	0.45	-0.07	-0.22	NCLH
DDS	0.59	0.18	0.26		0.64	0.44	0.69	0.76	-0.59	-0.62	DDS
MUSA	0.33	-0.4	0.62	0.64		0.82	0.92	0.54	-0.61	-0.76	MUSA
TXRH	-0.07	-0.52	0.41	0.44	0.82		0.67	0.3	-0.37	-0.58	TXRH
FIVE	0.46	-0.36	0.69	0.69	0.92	0.67		0.58	-0.65	-0.73	FIVE
PAG	0.63	0.25	0.45	0.76	0.54	0.3	0.58		-0.36	-0.45	PAG
MNSO	-0.54	0.07	-0.07	-0.59	-0.61	-0.37	-0.65	-0.36		0.83	MNSO
QS	-0.59	0.09	-0.22	-0.62	-0.76	-0.58	-0.73	-0.45	0.83		QS
	CART	VIPS	NCLH	DDS	MUSA	TXRH	FIVE	PAG	MNSO	QS

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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

FIVE	+ 0.92	MUSA
QS	+ 0.83	MNSO
TXRH	+ 0.82	MUSA
PAG	+ 0.76	DDS
FIVE	+ 0.69	NCLH
FIVE	+ 0.69	DDS

High negative correlations

QS	- 0.76	MUSA
QS	- 0.73	FIVE
MNSO	- 0.65	FIVE
QS	- 0.62	DDS
MNSO	- 0.61	MUSA
MNSO	- 0.59	DDS

Risk-Adjusted Indicators

There is a big difference between GameStop Stock performing well and GameStop Corp 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 GameStop Corp'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
CART	1.78	(0.07)	0.00	(0.13)	0.00	0.00	3.91	(3.87)	11.01
VIPS	1.52	(0.08)	0.00	(0.08)	0.00	0.00	3.00	(3.66)	13.81
NCLH	2.01	(0.26)	0.00	(0.08)	0.00	0.00	5.34	(4.78)	16.18
DDS	2.03	0.06	0.01	0.16	2.73	(2.20)	5.05	(4.39)	17.26
MUSA	1.32	0.14	0.05	0.31	1.80	(1.38)	3.04	(2.45)	11.17
TXRH	1.37	0.02	(0.01)	0.10	1.49	(1.62)	2.78	(2.47)	8.07
FIVE	1.43	0.17	0.11	0.20	1.51	(1.57)	3.23	(2.78)	6.89
PAG	0.93	(0.10)	0.00	(0.06)	0.00	0.00	2.62	(2.10)	6.07
MNSO	1.37	(0.29)	0.00	(0.21)	0.00	0.00	3.27	(3.58)	9.84
QS	3.47	(0.63)	0.00	(0.21)	0.00	0.00	8.02	(7.74)	28.88

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