GrowGeneration Corp Correlations

GRWG Stock  USD 1.86  0.05  2.62%   
The current 90-days correlation between GrowGeneration Corp and Evgo Inc is 0.28 (i.e., Modest diversification). The correlation of GrowGeneration Corp 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.

GrowGeneration Corp Correlation With Market

Good diversification

The correlation between GrowGeneration Corp and DJI is -0.11 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding GrowGeneration Corp 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 GrowGeneration Corp. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in housing.
For more detail on how to invest in GrowGeneration Stock please use our How to Invest in GrowGeneration Corp guide.

Moving together with GrowGeneration Stock

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Moving against GrowGeneration Stock

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Related Correlations Analysis

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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   
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SBHRH
EYESBH
EYERH
DKSCHPT
CHPTWOOF
  
High negative correlations   
EYEBBY
EYECHPT
BBYEVGO
RHBBY
ULTAEVGO
AZOBBY

Risk-Adjusted Indicators

There is a big difference between GrowGeneration Stock performing well and GrowGeneration Corp 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 GrowGeneration Corp'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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
EVGO  4.79  1.19  0.21 (1.93) 4.17 
 10.75 
 72.00 
ULTA  1.59  0.05  0.01  0.18  1.67 
 3.24 
 11.36 
BBY  1.27 (0.19) 0.00 (0.77) 0.00 
 2.21 
 8.79 
RH  2.18  0.64  0.38  0.66  1.26 
 5.50 
 29.32 
WOOF  4.85  0.74  0.17  0.61  4.22 
 11.61 
 43.86 
CHPT  3.45  0.13  0.00 (0.44) 4.22 
 7.26 
 22.45 
DKS  1.51  0.00 (0.03) 0.11  1.70 
 3.84 
 7.73 
AZO  1.05  0.05 (0.01) 0.21  1.07 
 2.19 
 6.36 
SBH  1.99 (0.01) 0.02  0.11  2.09 
 4.86 
 16.90 
EYE  1.99  0.33  0.12  1.73  1.80 
 4.90 
 10.41 

GrowGeneration Corp Corporate Management