Global Payments Correlations

GPN Stock

USD 118.58 1.50 1.28%

The current 90-days correlation between Global Payments and Copart Inc is 0.25 (i.e., Modest diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Global Payments moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Global Payments moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Global Payments Correlation With Market

Very weak diversification

The correlation between Global Payments and DJI is 0.55 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Global Payments and DJI in the same portfolio, assuming nothing else is changed.

Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in Global Payments. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in american community survey.

To learn how to invest in Global Stock, please use our How to Invest in Global Payments guide.

Moving together with Global Stock

0.72	TH	Target Hospitality Corp	Pair Corr
0.67	G	Genpact Limited	Pair Corr
0.67	AL	Air Lease	Pair Corr
0.62	BE	Bloom Energy Corp	Pair Corr
0.72	HI	Hillenbrand	Pair Corr

Moving against Global Stock

0.47	GPAK	Gamer Pakistan Common	Pair Corr
0.4	BW	Babcock Wilcox Enter	Pair Corr
0.33	FA	First Advantage Corp	Pair Corr
0.32	EH	Ehang Holdings	Pair Corr
0.31	DY	Dycom Industries	Pair Corr
0.81	HY	Hyster Yale Materials	Pair Corr
0.78	OP	Oceanpal	Pair Corr
0.63	GP	GreenPower Motor	Pair Corr
0.57	MG	Mistras Group	Pair Corr
0.41	ST	Sensata Technologies	Pair Corr
0.36	VCIG	VCI Global Limited	Pair Corr
0.35	GE	GE Aerospace Fiscal Year End 28th of January 2025	Pair Corr

Related Correlations Analysis

	CPRT	ABM	TRI	ARMK	MMS	AZZ	CASS	CBZ	KMX	CTAS
CPRT		0.67	-0.56	0.48	-0.51	0.8	0.66	0.7	0.11	0.76	CPRT
ABM	0.67		-0.42	0.13	-0.23	0.54	0.74	0.81	0.35	0.55	ABM
TRI	-0.56	-0.42		-0.29	0.73	-0.46	-0.4	-0.49	0.07	-0.44	TRI
ARMK	0.48	0.13	-0.29		-0.48	0.43	0.29	0.25	-0.31	0.71	ARMK
MMS	-0.51	-0.23	0.73	-0.48		-0.47	-0.41	-0.54	-0.09	-0.51	MMS
AZZ	0.8	0.54	-0.46	0.43	-0.47		0.66	0.72	0.34	0.62	AZZ
CASS	0.66	0.74	-0.4	0.29	-0.41	0.66		0.87	0.26	0.7	CASS
CBZ	0.7	0.81	-0.49	0.25	-0.54	0.72	0.87		0.45	0.65	CBZ
KMX	0.11	0.35	0.07	-0.31	-0.09	0.34	0.26	0.45		-0.21	KMX
CTAS	0.76	0.55	-0.44	0.71	-0.51	0.62	0.7	0.65	-0.21		CTAS
	CPRT	ABM	TRI	ARMK	MMS	AZZ	CASS	CBZ	KMX	CTAS

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

Please upgrade your account to get full access to Macroaxis premium features

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

CBZ	+ 0.87	CASS
CBZ	+ 0.81	ABM
AZZ	+ 0.8	CPRT
CTAS	+ 0.76	CPRT
CASS	+ 0.74	ABM
MMS	+ 0.73	TRI

High negative correlations

TRI	- 0.56	CPRT
CBZ	- 0.54	MMS
CTAS	- 0.51	MMS
MMS	- 0.51	CPRT
CBZ	- 0.49	TRI
MMS	- 0.48	ARMK

Risk-Adjusted Indicators

There is a big difference between Global Stock performing well and Global Payments 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 Payments' 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
CPRT	1.18	0.16	0.11	0.26	1.31	(1.29)	2.67	(1.59)	7.85
ABM	1.24	(0.08)	(0.03)	0.05	1.93	(1.21)	2.67	(2.11)	10.24
TRI	0.81	(0.08)	0.00	(0.31)	0.00	0.00	1.42	(1.84)	6.55
ARMK	1.19	0.11	0.09	0.22	1.24	(1.28)	2.93	(2.09)	6.93
MMS	1.10	(0.39)	0.00	(0.59)	0.00	0.00	1.76	(2.50)	10.19
AZZ	1.68	(0.03)	0.05	0.11	1.88	(1.91)	3.18	(2.60)	8.79
CASS	1.28	(0.11)	(0.03)	0.05	1.56	(1.48)	2.92	(2.97)	9.44
CBZ	1.27	0.05	0.05	0.16	1.43	(1.37)	2.78	(2.49)	9.49
KMX	1.45	(0.16)	(0.07)	0.00	1.77	(1.50)	4.14	(3.24)	8.69
CTAS	0.86	0.08	0.07	0.21	0.90	(0.94)	1.74	(1.44)	6.78

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2024 Macroaxis LLC