Gravity Correlations

GRVY Stock

USD 67.51 1.57 2.38%

The current 90-days correlation between Gravity and Doubledown Interactive Co is 0.03 (i.e., Significant 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

Average diversification

The correlation between Gravity Co and DJI is 0.15 (i.e., Average 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

0.78	TTWO	Take Two Interactive	Pair Corr
0.66	DJCO	Daily Journal Corp	Pair Corr

Moving against Gravity Stock

0.71	SOHU	SohuCom	Pair Corr
0.7	TRUG	Trugolf Symbol Change	Pair Corr
0.57	BHAT	Blue Hat Interactive	Pair Corr
0.38	GDC	GD Culture Group	Pair Corr
0.34	MGAM	Mobile Global Esports	Pair Corr
0.34	SKLZ	Skillz Platform	Pair Corr
0.33	GXAI	Gaxosai Symbol Change	Pair Corr
0.33	MSGM	Motorsport Gaming	Pair Corr
0.78	TC	TuanChe ADR	Pair Corr
0.72	TU	Telus Corp	Pair Corr
0.62	YQ	17 Education Technology	Pair Corr
0.53	CELJF	Cellcom Israel	Pair Corr
0.49	EVER	EverQuote Class A	Pair Corr
0.48	EMWPF	Eros Media World	Pair Corr
0.45	VZ	Verizon Communications Sell-off Trend	Pair Corr
0.4	DLPN	Dolphin Entertainment	Pair Corr
0.35	WIMI	WiMi Hologram Cloud	Pair Corr
0.32	IQ	iQIYI Inc Aggressive Push	Pair Corr

Related Correlations Analysis

	DDI	SCPL	PLTK	NTES	SOHU	SNAL	MYPS	GDEV	GDEVW	GMGI
DDI		0.59	0.44	0.18	-0.21	0.26	0.16	0.06	0.34	0.49	DDI
SCPL	0.59		0.37	0.28	-0.41	0.53	-0.01	0.45	0.47	0.23	SCPL
PLTK	0.44	0.37		0.12	-0.64	-0.14	0.66	-0.29	0.39	0.63	PLTK
NTES	0.18	0.28	0.12		0.37	-0.13	0.09	0.16	-0.29	-0.24	NTES
SOHU	-0.21	-0.41	-0.64	0.37		-0.09	-0.44	0.19	-0.47	-0.45	SOHU
SNAL	0.26	0.53	-0.14	-0.13	-0.09		-0.38	0.63	0.37	-0.11	SNAL
MYPS	0.16	-0.01	0.66	0.09	-0.44	-0.38		-0.57	-0.06	0.36	MYPS
GDEV	0.06	0.45	-0.29	0.16	0.19	0.63	-0.57		0.4	-0.34	GDEV
GDEVW	0.34	0.47	0.39	-0.29	-0.47	0.37	-0.06	0.4		0.37	GDEVW
GMGI	0.49	0.23	0.63	-0.24	-0.45	-0.11	0.36	-0.34	0.37		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

MYPS	+ 0.66	PLTK
GMGI	+ 0.63	PLTK
GDEV	+ 0.63	SNAL
SCPL	+ 0.59	DDI
SNAL	+ 0.53	SCPL
GMGI	+ 0.49	DDI

High negative correlations

SOHU	- 0.64	PLTK
GDEV	- 0.57	MYPS
GDEVW	- 0.47	SOHU
GMGI	- 0.45	SOHU
MYPS	- 0.44	SOHU
SOHU	- 0.41	SCPL

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	2.56	(0.06)	(0.02)	0.06	3.44	(2.50)	4.46	(4.76)	22.06
SCPL	1.25	0.17	0.06	0.55	1.22	(1.78)	1.73	(2.08)	27.64
PLTK	1.18	0.12	0.06	0.28	1.22	(1.35)	2.33	(2.19)	7.19
NTES	2.08	0.22	0.04	46.28	2.25	(2.49)	4.88	(3.78)	13.73
SOHU	1.81	(0.26)	0.00	(0.47)	0.00	0.00	4.13	(5.21)	13.26
SNAL	6.53	0.87	0.08	(0.93)	6.86	(9.01)	14.87	(11.97)	86.41
MYPS	2.35	0.26	0.10	0.30	2.70	(2.85)	6.17	(4.73)	14.58
GDEV	4.70	0.12	(0.01)	(0.29)	5.83	(5.26)	12.14	(8.93)	51.31
GDEVW	66.37	35.30	1.44	(1.52)	16.89	(109.16)	60.77	(26.00)	1,046
GMGI	3.83	(0.11)	(0.02)	0.04	4.80	(4.52)	9.16	(7.41)	29.74

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