Global Engine Correlations

GLE Stock

2.80 0.14 4.76%

The current 90-days correlation between Global Engine Group and Aegean Airlines SA is -0.05 (i.e., Good diversification). The correlation of Global Engine 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.

Global Engine Correlation With Market

Significant diversification

The correlation between Global Engine Group 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 Global Engine Group 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 Global Engine Group. 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 Global Stock

0.63

GDS

GDS Holdings

Pair Corr

Moving against Global Stock

0.46	CTM	Castellum	Pair Corr
0.44	WNS	WNS Holdings	Pair Corr
0.42	GMM	Global Mofy Metaverse	Pair Corr
0.33	DXC	DXC Technology	Pair Corr
0.64	PSCO	ProtoSource	Pair Corr
0.51	NTRP	NextTrip Symbol Change	Pair Corr
0.33	BBAI	BigBearai Holdings	Pair Corr
0.32	AIFF	Firefly Neuroscience, Symbol Change	Pair Corr

Related Correlations Analysis

	AGZNF	SDHC	FSP	RYAAY	PIUTQ	LUV	CPA
AGZNF		0.67	-0.75	-0.23	0.0	-0.82	-0.14	AGZNF
SDHC	0.67		-0.61	-0.18	0.0	-0.59	-0.33	SDHC
FSP	-0.75	-0.61		0.34	0.0	0.55	0.2	FSP
RYAAY	-0.23	-0.18	0.34		0.0	0.23	0.19	RYAAY
PIUTQ	0.0	0.0	0.0	0.0		0.0	0.0	PIUTQ
LUV	-0.82	-0.59	0.55	0.23	0.0		0.21	LUV
CPA	-0.14	-0.33	0.2	0.19	0.0	0.21		CPA
	AGZNF	SDHC	FSP	RYAAY	PIUTQ	LUV	CPA

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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

SDHC	+ 0.67	AGZNF
LUV	+ 0.55	FSP
RYAAY	+ 0.34	FSP
LUV	+ 0.23	RYAAY
CPA	+ 0.21	LUV
CPA	+ 0.2	FSP

High negative correlations

LUV	- 0.82	AGZNF
FSP	- 0.75	AGZNF
FSP	- 0.61	SDHC
LUV	- 0.59	SDHC
CPA	- 0.33	SDHC
RYAAY	- 0.23	AGZNF

Risk-Adjusted Indicators

There is a big difference between Global Stock performing well and Global Engine 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 Global Engine'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
AGZNF	0.31	(0.14)	0.00	0.61	0.00	0.00	0.00	0.00	10.55
SDHC	2.23	(0.08)	0.00	(0.03)	0.00	0.00	6.08	(5.92)	13.47
FSP	2.28	0.04	0.03	0.14	2.52	(2.64)	4.44	(4.22)	14.81
RYAAY	1.53	0.03	(0.02)	0.18	1.94	(1.53)	3.90	(3.25)	8.74
PIUTQ	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
LUV	1.43	0.09	0.04	0.21	1.68	(1.45)	2.96	(2.65)	10.99
CPA	1.39	0.04	(0.01)	0.21	2.52	(1.37)	3.72	(2.32)	17.31

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