GoPro Correlations

GPRO Stock

USD 0.80 0.03 3.61%

A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as GoPro moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if GoPro Inc moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

GoPro Correlation With Market

Modest diversification

The correlation between GoPro Inc and DJI is 0.25 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding GoPro Inc 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 GoPro Inc. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in metropolitan statistical area.

Moving together with GoPro Stock

0.75	BC	Brunswick	Pair Corr
0.68	WLDS	Wearable Devices	Pair Corr
0.83	EZGO	EZGO Technologies	Pair Corr
0.76	BZH	Beazer Homes USA	Pair Corr
0.71	CCS	Century Communities	Pair Corr
0.79	DHI	DR Horton	Pair Corr
0.69	HOV	Hovnanian Enterprises Earnings Call This Week	Pair Corr
0.75	KBH	KB Home	Pair Corr
0.78	LEN	Lennar	Pair Corr
0.82	MHO	MI Homes	Pair Corr
0.69	MPX	Marine Products	Pair Corr
0.76	MTH	Meritage	Pair Corr
0.73	PHM	PulteGroup	Pair Corr
0.85	PII	Polaris Industries	Pair Corr
0.72	TPH	TRI Pointe Homes Earnings Call This Week	Pair Corr
0.78	LGIH	LGI Homes Earnings Call This Week	Pair Corr
0.68	MCFT	MCBC Holdings	Pair Corr
0.69	UEIC	Universal Electronics	Pair Corr
0.76	F	Ford Motor Aggressive Push	Pair Corr
0.85	AXL	American Axle Manufa Buyout Trend	Pair Corr

Moving against GoPro Stock

0.65	VUZI	Vuzix Corp Cmn	Pair Corr
0.63	SONY	Sony Group Corp	Pair Corr
0.53	WLDSW	Wearable Devices	Pair Corr
0.41	JAKK	JAKKS Pacific	Pair Corr
0.87	DDS	Dillards	Pair Corr
0.83	EVRI	Everi Holdings	Pair Corr
0.74	EAT	Brinker International	Pair Corr
0.66	AGS	PlayAGS	Pair Corr
0.66	JWN	Nordstrom	Pair Corr
0.66	OSW	OneSpaWorld Holdings	Pair Corr
0.33	FLL	Full House Resorts	Pair Corr

Related Correlations Analysis

	SONY	LPL	VZIO	UEIC	VOXX	SSNLF	ZEPP	SONO	SNEJF
SONY		-0.55	0.0	-0.39	0.46	0.53	-0.16	0.27	0.94	SONY
LPL	-0.55		0.0	0.2	-0.34	-0.42	0.14	-0.54	-0.53	LPL
VZIO	0.0	0.0		0.0	0.0	0.0	0.0	0.0	0.0	VZIO
UEIC	-0.39	0.2	0.0		0.22	-0.78	-0.12	0.13	-0.37	UEIC
VOXX	0.46	-0.34	0.0	0.22		0.01	-0.19	0.35	0.44	VOXX
SSNLF	0.53	-0.42	0.0	-0.78	0.01		-0.05	0.19	0.49	SSNLF
ZEPP	-0.16	0.14	0.0	-0.12	-0.19	-0.05		0.01	-0.16	ZEPP
SONO	0.27	-0.54	0.0	0.13	0.35	0.19	0.01		0.24	SONO
SNEJF	0.94	-0.53	0.0	-0.37	0.44	0.49	-0.16	0.24		SNEJF
	SONY	LPL	VZIO	UEIC	VOXX	SSNLF	ZEPP	SONO	SNEJF

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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

SNEJF	+ 0.94	SONY
SSNLF	+ 0.53	SONY
SNEJF	+ 0.49	SSNLF
VOXX	+ 0.46	SONY
SNEJF	+ 0.44	VOXX
SONO	+ 0.35	VOXX

High negative correlations

SSNLF	- 0.78	UEIC
LPL	- 0.55	SONY
SONO	- 0.54	LPL
SNEJF	- 0.53	LPL
SSNLF	- 0.42	LPL
UEIC	- 0.39	SONY

Risk-Adjusted Indicators

There is a big difference between GoPro Stock performing well and GoPro 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 GoPro'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
SONY	1.45	0.30	0.19	0.41	1.36	(1.73)	3.18	(2.53)	6.95
LPL	1.60	(0.05)	0.00	(0.06)	0.00	0.00	2.75	(3.63)	10.87
VZIO	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
UEIC	1.82	(0.17)	0.00	(0.22)	0.00	0.00	3.64	(3.82)	9.87
VOXX	1.43	0.14	0.05	0.25	2.10	(1.49)	3.37	(4.56)	22.88
SSNLF	0.02	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.62
ZEPP	3.74	0.01	0.00	(0.01)	4.59	(4.27)	10.38	(6.40)	24.98
SONO	1.80	(0.04)	0.00	(0.04)	0.00	0.00	3.78	(4.13)	13.73
SNEJF	2.48	0.34	0.10	(1.39)	2.69	(2.97)	7.61	(5.35)	19.14

GoPro Corporate Management

Vincent Nakayama	Senior Engineering	Profile
Jalene CPA	VP Relations	Profile
Rick Loughery	Vice Communications	Profile
Charles Lafrades	Chief Officer	Profile
Eve JD	Chief Development	Profile

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