GoPro Correlations

GPRO Stock

USD 0.89 0.08 8.25%

The current 90-days correlation between GoPro Inc and Vuzix Corp Cmn is 0.13 (i.e., Average 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

Excellent diversification

The correlation between GoPro Inc and DJI is -0.7 (i.e., Excellent 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 real.

Moving together with GoPro Stock

0.82	SRP	Sharp	Pair Corr
0.81	5PD	Prodways Group SA	Pair Corr
0.7	GUL	Guillemot SA	Pair Corr
0.9	37B	BC Speakers SpA	Pair Corr
0.91	7HP	HP Inc	Pair Corr
0.61	WTO	UTime Limited Downward Rally	Pair Corr
0.74	FUK	Fujikon Industrial	Pair Corr
0.82	0QD	IMAGE SYSTEMS AB	Pair Corr
0.77	NTA	NetApp Inc	Pair Corr

Moving against GoPro Stock

0.93	SSU	Samsung Electronics	Pair Corr
0.91	MAT1	Panasonic Corp	Pair Corr
0.79	SE7S	SEIKO EPSON PADR	Pair Corr
0.46	TUNE	Focusrite Plc	Pair Corr
0.38	BSL	Basler Aktiengesellschaft	Pair Corr
0.93	WDC	Western Digital	Pair Corr
0.81	8P9	CYVIZ AS NK	Pair Corr
0.79	52C	2CRSI SA	Pair Corr
0.78	SE7	Seiko Epson	Pair Corr
0.67	2I6	Indel B SpA	Pair Corr
0.65	SCY	Stratasys Earnings Call This Week	Pair Corr
0.64	GRMN	Garmin	Pair Corr
0.54	TECA	Toshiba Tec	Pair Corr
0.47	11W	Wacom	Pair Corr
0.47	ALJXR	Archos	Pair Corr

Related Correlations Analysis

	VUZI	OCFT	ALTS	TBCH	REKR	UIS	SMRT	FRGE	PDYN	III
VUZI		-0.21	-0.22	0.42	0.26	0.54	0.53	0.25	-0.29	0.51	VUZI
OCFT	-0.21		0.13	-0.92	-0.93	-0.62	-0.7	0.63	0.74	-0.73	OCFT
ALTS	-0.22	0.13		-0.15	0.01	0.34	-0.42	0.11	0.58	0.11	ALTS
TBCH	0.42	-0.92	-0.15		0.91	0.71	0.76	-0.51	-0.72	0.79	TBCH
REKR	0.26	-0.93	0.01	0.91		0.73	0.61	-0.58	-0.61	0.78	REKR
UIS	0.54	-0.62	0.34	0.71	0.73		0.5	-0.05	-0.24	0.88	UIS
SMRT	0.53	-0.7	-0.42	0.76	0.61	0.5		-0.26	-0.76	0.74	SMRT
FRGE	0.25	0.63	0.11	-0.51	-0.58	-0.05	-0.26		0.48	-0.16	FRGE
PDYN	-0.29	0.74	0.58	-0.72	-0.61	-0.24	-0.76	0.48		-0.48	PDYN
III	0.51	-0.73	0.11	0.79	0.78	0.88	0.74	-0.16	-0.48		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

REKR	+ 0.91	TBCH
III	+ 0.88	UIS
III	+ 0.79	TBCH
III	+ 0.78	REKR
SMRT	+ 0.76	TBCH
PDYN	+ 0.74	OCFT

High negative correlations

REKR	- 0.93	OCFT
TBCH	- 0.92	OCFT
PDYN	- 0.76	SMRT
III	- 0.73	OCFT
PDYN	- 0.72	TBCH
SMRT	- 0.7	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	4.79	0.58	0.10	1.09	5.10	(5.57)	9.69	(7.98)	43.23
OCFT	0.57	0.09	0.04	0.62	0.52	(0.79)	1.55	(1.11)	4.57
ALTS	6.23	(0.13)	(0.01)	0.01	6.27	(8.24)	15.07	(10.24)	49.03
TBCH	1.70	(0.06)	0.00	0.72	0.00	0.00	3.09	(3.01)	10.25
REKR	3.17	(1.00)	0.00	(2.50)	0.00	0.00	5.41	(6.73)	16.87
UIS	2.54	0.01	(0.02)	0.30	2.87	(2.91)	8.08	(5.47)	16.71
SMRT	2.38	0.09	0.02	0.30	2.54	(3.27)	5.75	(4.46)	22.64
FRGE	0.18	0.02	(0.22)	(0.22)	0.19	(0.20)	0.42	(0.34)	1.35
PDYN	5.45	0.60	0.11	0.52	5.20	(6.89)	13.96	(7.57)	34.34
III	1.96	(0.07)	0.00	(0.99)	0.00	0.00	3.82	(5.26)	13.35

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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