ESGL Holdings Correlations

ESGLW Stock

0.02 0 7.65%

The correlation of ESGL Holdings 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.

ESGL Holdings Correlation With Market

Modest diversification

The correlation between ESGL Holdings Limited and DJI is 0.23 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding ESGL Holdings Limited and DJI in the same portfolio, assuming nothing else is changed.

Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in ESGL Holdings Limited. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in bureau of economic analysis.

Moving together with ESGL Stock

0.76	LZ	LegalZoom	Pair Corr
0.61	SQ	Block Inc Sell-off Trend	Pair Corr
0.72	WM	Waste Management	Pair Corr
0.67	DRVN	Driven Brands Holdings	Pair Corr
0.76	VSEC	VSE Corporation	Pair Corr
0.73	EXLS	ExlService Holdings	Pair Corr
0.68	ADP	Automatic Data Processing	Pair Corr
0.63	CBZ	CBIZ Inc	Pair Corr
0.63	CXW	CoreCivic	Pair Corr
0.62	GFL	Gfl Environmental	Pair Corr

Moving against ESGL Stock

0.7	VCIG	VCI Global Limited Trending	Pair Corr
0.68	MG	Mistras Group	Pair Corr
0.64	FA	First Advantage Corp	Pair Corr
0.64	BCO	Brinks Company	Pair Corr
0.62	EXPO	Exponent	Pair Corr
0.58	WHLM	Wilhelmina	Pair Corr
0.48	DLHC	DLH Holdings Corp Earnings Call This Week	Pair Corr
0.32	FC	Franklin Covey	Pair Corr
0.77	FCN	FTI Consulting	Pair Corr
0.76	SMX	SMX Public Limited	Pair Corr
0.67	EFX	Equifax	Pair Corr
0.66	HDSN	Hudson Technologies	Pair Corr
0.64	WEX	Wex Inc	Pair Corr
0.44	FORR	Forrester Research	Pair Corr
0.39	MEG	Montrose Environmental	Pair Corr
0.36	MMS	Maximus	Pair Corr

Related Correlations Analysis

	AAVXF	IPSHX	MSTSX	ID	MLGF	KNF	LICY	CIRAX	SEIC	GSHD
AAVXF		0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	AAVXF
IPSHX	0.0		0.56	0.86	0.38	0.87	0.62	0.15	0.93	0.9	IPSHX
MSTSX	0.0	0.56		0.46	0.73	0.67	0.65	0.82	0.42	0.33	MSTSX
ID	0.0	0.86	0.46		0.41	0.83	0.47	0.11	0.81	0.83	ID
MLGF	0.0	0.38	0.73	0.41		0.67	0.6	0.63	0.36	0.32	MLGF
KNF	0.0	0.87	0.67	0.83	0.67		0.73	0.33	0.86	0.83	KNF
LICY	0.0	0.62	0.65	0.47	0.6	0.73		0.4	0.65	0.54	LICY
CIRAX	0.0	0.15	0.82	0.11	0.63	0.33	0.4		-0.05	-0.13	CIRAX
SEIC	0.0	0.93	0.42	0.81	0.36	0.86	0.65	-0.05		0.98	SEIC
GSHD	0.0	0.9	0.33	0.83	0.32	0.83	0.54	-0.13	0.98		GSHD
	AAVXF	IPSHX	MSTSX	ID	MLGF	KNF	LICY	CIRAX	SEIC	GSHD

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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

GSHD	+ 0.98	SEIC
SEIC	+ 0.93	IPSHX
GSHD	+ 0.9	IPSHX
KNF	+ 0.87	IPSHX
ID	+ 0.86	IPSHX
SEIC	+ 0.86	KNF

High negative correlations

GSHD	- 0.13	CIRAX
SEIC	- 0.05	CIRAX
GSHD	- 0.0	AAVXF
SEIC	- 0.0	AAVXF
CIRAX	- 0.0	AAVXF
LICY	- 0.0	AAVXF

Risk-Adjusted Indicators

There is a big difference between ESGL Stock performing well and ESGL Holdings 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 ESGL Holdings' 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
AAVXF	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
IPSHX	0.55	0.03	0.02	0.15	0.45	(0.68)	1.13	(0.98)	3.97
MSTSX	0.49	(0.04)	(0.13)	0.06	0.52	(0.61)	1.21	(1.02)	2.80
ID	3.77	0.53	0.10	0.68	4.01	(5.10)	7.69	(6.67)	20.54
MLGF	0.37	0.02	(0.14)	0.33	0.34	(0.73)	1.11	(0.65)	3.32
KNF	1.55	0.21	0.13	0.23	1.90	(1.62)	2.77	(2.46)	12.78
LICY	6.73	0.67	0.09	0.90	6.69	(8.44)	14.15	(10.47)	55.51
CIRAX	0.34	(0.05)	(0.26)	0.00	0.43	(0.34)	0.66	(0.82)	1.81
SEIC	0.81	0.21	0.19	0.37	0.57	(0.95)	1.57	(1.56)	7.23
GSHD	1.67	0.61	0.41	1.00	0.83	(2.15)	5.06	(2.22)	14.35

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