Gitlab Correlations

GTLB Stock

USD 29.55 0.03 0.10%

The current 90-days correlation between Gitlab Inc and Nice Ltd ADR is 0.06 (i.e., Significant diversification). The correlation of Gitlab 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.

Gitlab Correlation With Market

Pay attention - limited upside

The correlation between Gitlab Inc and DJI is -0.78 (i.e., Pay attention - limited upside) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Gitlab Inc and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Gitlab Stock

Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in Gitlab 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 board of governors.

Moving together with Gitlab Stock

0.88	S	SentinelOne	Pair Corr
0.71	AI	C3 Ai Inc	Pair Corr
0.83	BB	BlackBerry	Pair Corr
0.95	ZS	Zscaler	Pair Corr
0.63	DTSS	Datasea	Pair Corr
0.9	ANY	Sphere 3D Corp	Pair Corr
0.93	FUBO	Fubotv Inc	Pair Corr
0.87	NOW	ServiceNow	Pair Corr
0.71	PGY	Pagaya Technologies	Pair Corr
0.64	RPD	Rapid7 Inc	Pair Corr
0.75	TLS	Telos Corp	Pair Corr
0.73	XTKG	X3 Holdings	Pair Corr
0.78	INLX	Intellinetics	Pair Corr
0.77	INTZ	Intrusion	Pair Corr
0.86	PRO	Prophecy International	Pair Corr
0.66	LSPD	Lightspeed Commerce	Pair Corr
0.84	MSFT	Microsoft Sell-off Trend	Pair Corr
0.77	NABL	N Able Inc Earnings Call This Week	Pair Corr
0.84	ORCL	Oracle Aggressive Push	Pair Corr
0.84	PANW	Palo Alto Networks	Pair Corr
0.78	QLYS	Qualys Inc	Pair Corr

Moving against Gitlab Stock

0.58	ALLIX	Wallix Group SA	Pair Corr
0.41	TDC	Teradata Corp Tech Boost	Pair Corr
0.39	OS	OneStream Class A Sell-off Trend	Pair Corr
0.37	GETB	GetBusy PLC	Pair Corr
0.68	SHG	Shinhan Financial	Pair Corr
0.66	KB	KB Financial Group	Pair Corr
0.63	ATEN	A10 Network	Pair Corr
0.52	ALLT	Allot Communications Earnings Call This Week	Pair Corr

Related Correlations Analysis

	NICE	LYFT	TTAN	PCTY	MTCH	SOUN	SRAD	LIF	DSGX	APPF
NICE		0.32	0.11	0.17	0.02	0.25	0.09	0.1	0.08	0.34	NICE
LYFT	0.32		0.57	0.7	0.67	0.91	0.79	0.83	0.64	0.87	LYFT
TTAN	0.11	0.57		0.88	0.57	0.67	0.8	0.45	0.95	0.81	TTAN
PCTY	0.17	0.7	0.88		0.51	0.73	0.81	0.58	0.86	0.88	PCTY
MTCH	0.02	0.67	0.57	0.51		0.69	0.67	0.68	0.64	0.63	MTCH
SOUN	0.25	0.91	0.67	0.73	0.69		0.76	0.82	0.75	0.89	SOUN
SRAD	0.09	0.79	0.8	0.81	0.67	0.76		0.7	0.79	0.88	SRAD
LIF	0.1	0.83	0.45	0.58	0.68	0.82	0.7		0.49	0.75	LIF
DSGX	0.08	0.64	0.95	0.86	0.64	0.75	0.79	0.49		0.82	DSGX
APPF	0.34	0.87	0.81	0.88	0.63	0.89	0.88	0.75	0.82		APPF
	NICE	LYFT	TTAN	PCTY	MTCH	SOUN	SRAD	LIF	DSGX	APPF

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Risk-Adjusted Indicators

There is a big difference between Gitlab Stock performing well and Gitlab 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 Gitlab'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	Treynor Ratio	Potential Upside	Value @Risk	Maximum Drawdown
NICE	1.77	(0.36)	(0.27)	3.24	(3.81)	18.80
LYFT	2.46	(0.92)	(0.53)	3.71	(6.72)	21.29
TTAN	2.57	(0.62)	(0.90)	3.89	(6.06)	21.98
PCTY	1.65	(0.44)	(0.90)	3.08	(5.39)	12.18
MTCH	1.33	(0.17)	(0.12)	3.04	(2.15)	11.62
SOUN	3.06	(1.08)	(0.33)	6.51	(6.83)	22.82
SRAD	1.49	(0.51)	(0.80)	2.44	(4.11)	8.55
LIF	3.34	(0.86)	(1.53)	5.57	(5.95)	36.17
DSGX	1.64	(0.36)	(0.62)	2.16	(3.74)	23.15
APPF	1.71	(0.60)	(0.40)	2.91	(5.00)	11.62

Gitlab Corporate Management

Sabrina Farmer	Chief Officer	Profile
Robert Allen	Chief Officer	Profile
Stella Treas	Chief Staff	Profile
Manu Narayan	Chief Officer	Profile
Sytse Sijbrandij	Chairman, CoFounder	Profile
Christopher Weber	Chief Officer	Profile
Michael McBride	Chief Officer	Profile

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