Gravity Correlations

GRVY Stock

USD 62.89 0.61 0.96%

The current 90-days correlation between Gravity and Doubledown Interactive Co is 0.16 (i.e., Average diversification). The correlation of Gravity is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak. If the correlation is 0, the equities are not correlated; they are entirely random.

Gravity Correlation With Market

Significant diversification

The correlation between Gravity Co and DJI is 0.04 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Gravity Co 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 Gravity Co. 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 Gravity Stock

0.76	EA	Electronic Arts	Pair Corr
0.75	DDI	Doubledown Interactive	Pair Corr
0.74	GDEV	GDEV Inc	Pair Corr
0.89	PLTK	Playtika Holding Corp	Pair Corr
0.69	BHAT	Blue Hat Interactive	Pair Corr
0.65	BILI	Bilibili Upward Rally	Pair Corr
0.61	EB	Eventbrite Class A	Pair Corr
0.76	TU	Telus Corp	Pair Corr
0.63	TV	Grupo Televisa SAB Earnings Call This Week	Pair Corr
0.74	VZ	Verizon Communications Sell-off Trend	Pair Corr

Moving against Gravity Stock

0.67	RBLX	Roblox Corp	Pair Corr
0.67	SNAL	Snail, Class A	Pair Corr
0.64	GIGM	Giga Media	Pair Corr
0.49	NTES	NetEase	Pair Corr
0.48	MSGM	Motorsport Gaming	Pair Corr
0.43	MYPSW	PLAYSTUDIOS	Pair Corr
0.36	SKLZ	Skillz Platform	Pair Corr
0.83	VEON	VEON	Pair Corr
0.49	OB	Outbrain	Pair Corr
0.48	YY	YY Inc Class	Pair Corr
0.47	WIMI	WiMi Hologram Cloud	Pair Corr
0.45	DOYU	DouYu International	Pair Corr
0.39	SY	So Young International	Pair Corr
0.37	TC	TuanChe ADR	Pair Corr
0.36	WBTN	WEBTOON Entertainment Potential Growth	Pair Corr

Related Correlations Analysis

	DDI	SCPL	PLTK	NTES	SOHU	SNAL	MYPS	GDEV	GDEVW	GMGI
DDI		0.0	0.85	-0.8	-0.12	-0.74	-0.21	0.91	0.32	0.9	DDI
SCPL	0.0		0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	SCPL
PLTK	0.85	0.0		-0.5	0.05	-0.67	0.04	0.77	0.24	0.67	PLTK
NTES	-0.8	0.0	-0.5		0.27	0.75	0.09	-0.85	-0.27	-0.78	NTES
SOHU	-0.12	0.0	0.05	0.27		0.32	0.3	-0.13	0.1	-0.29	SOHU
SNAL	-0.74	0.0	-0.67	0.75	0.32		-0.2	-0.86	-0.26	-0.71	SNAL
MYPS	-0.21	0.0	0.04	0.09	0.3	-0.2		0.04	0.05	-0.28	MYPS
GDEV	0.91	0.0	0.77	-0.85	-0.13	-0.86	0.04		0.4	0.86	GDEV
GDEVW	0.32	0.0	0.24	-0.27	0.1	-0.26	0.05	0.4		0.4	GDEVW
GMGI	0.9	0.0	0.67	-0.78	-0.29	-0.71	-0.28	0.86	0.4		GMGI
	DDI	SCPL	PLTK	NTES	SOHU	SNAL	MYPS	GDEV	GDEVW	GMGI

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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

GDEV	+ 0.91	DDI
GMGI	+ 0.9	DDI
GMGI	+ 0.86	GDEV
PLTK	+ 0.85	DDI
GDEV	+ 0.77	PLTK
SNAL	+ 0.75	NTES

High negative correlations

GDEV	- 0.86	SNAL
GDEV	- 0.85	NTES
NTES	- 0.8	DDI
GMGI	- 0.78	NTES
SNAL	- 0.74	DDI
GMGI	- 0.71	SNAL

Risk-Adjusted Indicators

There is a big difference between Gravity Stock performing well and Gravity 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 Gravity'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
DDI	2.48	(0.69)	0.00	(1.87)	0.00	0.00	3.81	(5.68)	14.65
SCPL	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
PLTK	1.25	(0.17)	0.00	(0.51)	0.00	0.00	1.93	(2.95)	8.84
NTES	1.84	0.49	0.22	1.60	1.73	(2.02)	3.95	(2.93)	15.03
SOHU	1.76	0.09	0.03	0.07	2.52	(1.63)	3.86	(2.90)	10.94
SNAL	8.74	1.72	0.17	1.52	8.60	(10.33)	19.90	(16.08)	76.22
MYPS	3.04	0.27	0.07	0.22	3.34	(3.52)	6.93	(5.71)	14.63
GDEV	2.82	(0.99)	0.00	(2.15)	0.00	0.00	5.38	(6.49)	18.15
GDEVW	16.61	2.16	0.09	0.28	16.93	(29.41)	32.56	(39.80)	213.83
GMGI	3.32	(0.48)	0.00	2.39	0.00	0.00	9.16	(8.95)	27.70

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