GameStop Corp Correlations

GME Stock

USD 20.72 0.10 0.48%

The current 90-days correlation between GameStop Corp and Maplebear is 0.31 (i.e., Weak 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

Modest diversification

The correlation between GameStop Corp and DJI is 0.27 (i.e., Modest 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 industry.

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

Moving together with GameStop Stock

0.78	UPBD	Upbound Group	Pair Corr
0.76	UIS	Unisys	Pair Corr

Moving against GameStop Stock

0.79	GPOVF	Grupo Carso SAB	Pair Corr
0.74	CICOY	COSCO SHIPPING Holdings	Pair Corr
0.71	SGTM	National Storm Recovery	Pair Corr
0.67	DGWPF	Drgerwerk AG	Pair Corr
0.58	TMSNY	Temenos Group AG	Pair Corr
0.57	ALB	Albemarle Corp	Pair Corr
0.53	MGCV	MGC Ventures	Pair Corr
0.52	68233JBD5	US68233JBD54	Pair Corr
0.46	FTV	Fortive Corp	Pair Corr
0.43	ADAMI	New York Mortgage Symbol Change	Pair Corr
0.42	NEGG	Newegg Commerce	Pair Corr
0.4	AMCCF	Amcor plc	Pair Corr
0.4	SYF	Synchrony Financial	Pair Corr
0.33	BROS	Dutch Bros	Pair Corr
0.32	DB	Deutsche Bank AG	Pair Corr
0.75	CAH	Cardinal Health Sell-off Trend	Pair Corr
0.74	LCDX	Caliber Imaging Diag	Pair Corr
0.71	NAUFF	NevGold Corp	Pair Corr
0.71	CTOWY	China TowerLimited	Pair Corr
0.67	CASXF	Casa Minerals	Pair Corr
0.63	FLIDY	FLSmidth Co AS	Pair Corr
0.61	FSRL	First Reliance Bancshares Normal Trading	Pair Corr
0.61	NRC	National Research Corp	Pair Corr
0.58	BYSD	Bayside Corp	Pair Corr
0.56	TEN	Tsakos Energy Navigation	Pair Corr

Related Correlations Analysis

	CART	VIPS	NCLH	DDS	MUSA	TXRH	FIVE	PAG	MNSO	QS
CART		0.28	-0.1	0.79	0.73	0.25	0.83	0.19	-0.77	-0.83	CART
VIPS	0.28		-0.11	0.44	0.18	-0.1	0.03	0.42	-0.08	-0.23	VIPS
NCLH	-0.1	-0.11		-0.24	0.35	0.21	0.14	0.68	0.44	0.24	NCLH
DDS	0.79	0.44	-0.24		0.6	0.07	0.7	0.25	-0.69	-0.64	DDS
MUSA	0.73	0.18	0.35	0.6		0.26	0.81	0.48	-0.53	-0.65	MUSA
TXRH	0.25	-0.1	0.21	0.07	0.26		0.16	0.26	-0.01	-0.18	TXRH
FIVE	0.83	0.03	0.14	0.7	0.81	0.16		0.18	-0.71	-0.68	FIVE
PAG	0.19	0.42	0.68	0.25	0.48	0.26	0.18		0.22	-0.02	PAG
MNSO	-0.77	-0.08	0.44	-0.69	-0.53	-0.01	-0.71	0.22		0.81	MNSO
QS	-0.83	-0.23	0.24	-0.64	-0.65	-0.18	-0.68	-0.02	0.81		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	+ 0.83	CART
FIVE	+ 0.81	MUSA
QS	+ 0.81	MNSO
DDS	+ 0.79	CART
MUSA	+ 0.73	CART
FIVE	+ 0.7	DDS

High negative correlations

QS	- 0.83	CART
MNSO	- 0.77	CART
MNSO	- 0.71	FIVE
MNSO	- 0.69	DDS
QS	- 0.68	FIVE
QS	- 0.65	MUSA

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	1.66	0.26	0.10	0.71	1.90	(1.67)	4.33	(3.02)	11.01
VIPS	1.55	(0.19)	0.00	(0.15)	0.00	0.00	3.00	(4.81)	12.51
NCLH	1.95	(0.19)	0.00	(0.04)	0.00	0.00	4.55	(4.16)	18.37
DDS	1.84	0.08	0.04	0.13	2.32	(2.11)	5.05	(3.91)	17.26
MUSA	1.31	0.08	0.01	9.80	2.11	(1.22)	2.93	(3.83)	11.17
TXRH	1.41	0.01	0.00	0.06	1.54	(1.61)	3.23	(2.63)	9.04
FIVE	1.63	0.25	0.12	0.18	2.10	(1.72)	3.69	(3.36)	12.88
PAG	0.98	(0.18)	0.00	(0.15)	0.00	0.00	2.77	(1.88)	6.16
MNSO	1.46	(0.27)	0.00	(0.20)	0.00	0.00	3.27	(3.06)	10.36
QS	4.43	(0.19)	(0.01)	0.00	5.18	(5.25)	14.73	(8.22)	31.81

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