GoPro Correlations

GPRO Stock

USD 1.02 0.02 2.00%

The current 90-days correlation between GoPro Inc and Vuzix Corp Cmn is 0.25 (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

Excellent diversification

The correlation between GoPro Inc and DJI is -0.59 (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

0.81	6C2	Corsair Gaming Earnings Call This Week	Pair Corr
0.63	LGA	LG Display	Pair Corr
0.69	DT8A	Datalogic SpA	Pair Corr
0.9	5HS	FRACTAL GAMING GROUP	Pair Corr
0.86	BIG	BigBen Interactive	Pair Corr
0.83	SONY	Sony Group Corp Earnings Call This Week	Pair Corr
0.74	ORGN	Origin Materials	Pair Corr
0.74	RVSN	Rail Vision	Pair Corr

Moving against GoPro Stock

0.84	SSUN	Samsung Electronics	Pair Corr
0.72	CAC1	Casio Computer CoLtd	Pair Corr
0.57	UE1	Universal Electronics	Pair Corr
0.54	F17	SOLIDWORLD GROUP SPA Split	Pair Corr
0.86	APETF	Alpha Esports Tech	Pair Corr
0.77	YLLXF	Yellow Cake plc	Pair Corr
0.75	THO	Thor Industries	Pair Corr
0.74	ENDMF	Enduro Metals	Pair Corr
0.72	UEIC	Universal Electronics Earnings Call This Week	Pair Corr
0.7	KCDMY	Kimberly Clark de	Pair Corr
0.67	NEWTH	NewtekOne 8625 percent	Pair Corr
0.67	COMP	Compass Aggressive Push	Pair Corr
0.65	OGN	Organon	Pair Corr
0.65	ELVN	Enliven Therapeutics	Pair Corr
0.55	GPOVF	Grupo Carso SAB	Pair Corr
0.87	ANDE	Andersons Earnings Call This Week	Pair Corr
0.83	AROC	Archrock Symbol Change	Pair Corr

Related Correlations Analysis

	VUZI	OCFT	ALTS	TBCH	REKR	UIS	SMRT	FRGE	PDYN	III
VUZI		0.32	-0.3	0.23	-0.08	0.61	0.58	-0.04	-0.19	0.74	VUZI
OCFT	0.32		0.29	-0.57	-0.75	0.24	0.24	0.16	0.43	0.37	OCFT
ALTS	-0.3	0.29		-0.12	0.04	0.2	-0.65	-0.15	0.81	-0.3	ALTS
TBCH	0.23	-0.57	-0.12		0.85	0.47	0.04	-0.45	-0.24	0.28	TBCH
REKR	-0.08	-0.75	0.04	0.85		0.3	-0.31	-0.39	-0.1	-0.04	REKR
UIS	0.61	0.24	0.2	0.47	0.3		0.19	-0.37	0.17	0.72	UIS
SMRT	0.58	0.24	-0.65	0.04	-0.31	0.19		0.35	-0.61	0.72	SMRT
FRGE	-0.04	0.16	-0.15	-0.45	-0.39	-0.37	0.35		-0.24	-0.07	FRGE
PDYN	-0.19	0.43	0.81	-0.24	-0.1	0.17	-0.61	-0.24		-0.22	PDYN
III	0.74	0.37	-0.3	0.28	-0.04	0.72	0.72	-0.07	-0.22		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	+ 0.85	TBCH
PDYN	+ 0.81	ALTS
III	+ 0.74	VUZI
III	+ 0.72	UIS
III	+ 0.72	SMRT
UIS	+ 0.61	VUZI

High negative correlations

REKR	- 0.75	OCFT
SMRT	- 0.65	ALTS
PDYN	- 0.61	SMRT
TBCH	- 0.57	OCFT
FRGE	- 0.45	TBCH
FRGE	- 0.39	REKR

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	4.82	(0.20)	0.00	(0.05)	0.00	0.00	9.38	(8.75)	43.23
OCFT	0.57	0.09	0.02	0.78	0.52	(0.79)	1.55	(1.11)	4.57
ALTS	5.92	(0.15)	0.00	0.03	6.38	(7.31)	12.42	(10.47)	49.03
TBCH	2.07	(0.58)	0.00	(0.25)	0.00	0.00	3.09	(5.80)	14.42
REKR	3.07	(1.47)	0.00	(0.68)	0.00	0.00	4.90	(7.27)	16.09
UIS	2.59	(0.73)	0.00	(0.20)	0.00	0.00	5.30	(5.61)	20.18
SMRT	2.36	0.36	0.14	0.60	2.08	(3.22)	5.75	(3.89)	21.69
FRGE	2.05	1.18	3.27	(0.75)	0.00	(2.38)	0.56	(0.38)	69.57
PDYN	5.25	(0.04)	0.03	0.08	5.29	(6.69)	13.96	(8.27)	34.34
III	1.78	(0.27)	0.00	(0.12)	0.00	0.00	3.22	(4.95)	10.62

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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