GoPro Correlations

GPRO Stock

USD 1.47 0.02 1.34%

The current 90-days correlation between GoPro Inc and Vuzix Corp Cmn is 0.24 (i.e., Modest diversification). 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

Weak diversification

The correlation between GoPro Inc and DJI is 0.37 (i.e., Weak 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.

Build AI portfolio with GoPro Stock

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 population.

Moving together with GoPro Stock

0.62	688007	Appotronics Corp	Pair Corr
0.69	600839	Sichuan Changhong	Pair Corr
0.75	VUZI	Vuzix Corp Cmn Trending	Pair Corr
0.8	300866	Anker Innovations	Pair Corr
0.73	300857	Sharetronic Data Tec	Pair Corr
0.69	WTO	UTime Limited	Pair Corr
0.92	GRMN	Garmin	Pair Corr
0.83	001314	Emdoor Information	Pair Corr
0.7	002405	Navinfo	Pair Corr
0.77	KOSS	Koss	Pair Corr
0.78	002925	Xiamen Intretech Class	Pair Corr
0.84	002045	Guoguang Electric	Pair Corr
0.72	002351	Edifier Technology	Pair Corr
0.72	002920	Huizhou Desay SV	Pair Corr
0.66	300790	Yutong Optical	Pair Corr
0.7	300735	DBG Technology	Pair Corr
0.61	300083	Guangdong Create Century	Pair Corr
0.88	HAPB	Hapbee Technologies	Pair Corr

Moving against GoPro Stock

0.82	300155	Guangdong Anjubao Digital	Pair Corr
0.73	0R2V	Apple Inc	Pair Corr
0.68	DBO	D Box Technologies	Pair Corr
0.64	301189	Shenzhen Aoni Electronic	Pair Corr
0.63	TUNE	Focusrite Plc	Pair Corr
0.49	SMSN	Samsung Electronics	Pair Corr
0.36	000801	Sichuan Jiuzhou Elec	Pair Corr
0.33	603327	Sichuan Furong Technology	Pair Corr
0.88	AMS	Atomos	Pair Corr
0.83	PPERY	Bank Mandiri Persero	Pair Corr
0.76	001229	Guangdong AVCiT Tech	Pair Corr
0.69	PTAIY	Astra International Tbk	Pair Corr
0.59	PBCRY	Bank Central Asia	Pair Corr
0.49	BC94	Samsung Electronics	Pair Corr
0.49	AUA	Audeara	Pair Corr
0.48	600060	Hisense Electric	Pair Corr
0.38	PPERF	Bank Mandiri Persero	Pair Corr
0.33	002888	HiVi Acoustics Technology	Pair Corr

Related Correlations Analysis

	VUZI	OCFT	ALTS	TBCH	REKR	UIS	SMRT	FRGE	PDYN	III
VUZI		-0.51	0.4	0.64	0.45	0.81	-0.22	-0.76	0.69	0.33	VUZI
OCFT	-0.51		-0.8	-0.53	-0.57	-0.73	0.86	0.84	-0.89	0.47	OCFT
ALTS	0.4	-0.8		0.53	0.28	0.76	-0.8	-0.81	0.88	-0.28	ALTS
TBCH	0.64	-0.53	0.53		0.68	0.79	-0.5	-0.75	0.67	0.18	TBCH
REKR	0.45	-0.57	0.28	0.68		0.43	-0.54	-0.53	0.52	-0.24	REKR
UIS	0.81	-0.73	0.76	0.79	0.43		-0.52	-0.97	0.88	0.16	UIS
SMRT	-0.22	0.86	-0.8	-0.5	-0.54	-0.52		0.67	-0.77	0.61	SMRT
FRGE	-0.76	0.84	-0.81	-0.75	-0.53	-0.97	0.67		-0.92	0.03	FRGE
PDYN	0.69	-0.89	0.88	0.67	0.52	0.88	-0.77	-0.92		-0.19	PDYN
III	0.33	0.47	-0.28	0.18	-0.24	0.16	0.61	0.03	-0.19		III
	VUZI	OCFT	ALTS	TBCH	REKR	UIS	SMRT	FRGE	PDYN	III

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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

PDYN	+ 0.88	ALTS
PDYN	+ 0.88	UIS
SMRT	+ 0.86	OCFT
FRGE	+ 0.84	OCFT
UIS	+ 0.81	VUZI
UIS	+ 0.79	TBCH

High negative correlations

FRGE	- 0.97	UIS
PDYN	- 0.92	FRGE
PDYN	- 0.89	OCFT
FRGE	- 0.81	ALTS
SMRT	- 0.8	ALTS
ALTS	- 0.8	OCFT

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
VUZI	4.95	0.29	0.07	0.17	6.01	(5.18)	9.68	(8.86)	43.23
OCFT	0.57	0.09	0.03	0.86	0.52	(0.79)	1.55	(1.11)	4.57
ALTS	5.45	(1.42)	0.00	(5.07)	0.00	0.00	9.57	(10.70)	30.44
TBCH	2.01	(0.28)	0.00	(0.06)	0.00	0.00	4.90	(3.79)	13.97
REKR	4.25	(0.22)	0.00	(0.04)	0.00	0.00	9.70	(7.97)	32.89
UIS	2.19	(0.63)	0.00	(0.16)	0.00	0.00	4.18	(3.94)	24.72
SMRT	2.48	0.44	0.19	0.46	2.02	(3.35)	6.43	(2.90)	19.23
FRGE	3.79	1.99	0.82	(1.52)	0.96	(4.78)	11.43	(4.37)	69.57
PDYN	3.98	(1.31)	0.00	(0.23)	0.00	0.00	7.45	(8.52)	25.43
III	1.92	0.02	0.01	0.09	2.47	(2.17)	3.90	(2.98)	19.29

GoPro Corporate Management

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

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