Adtalem Global Correlations

ATGE Stock

USD 101.97 1.32 1.28%

The current 90-days correlation between Adtalem Global Education and Grand Canyon Education is 0.73 (i.e., Poor diversification). The correlation of Adtalem Global 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.

Adtalem Global Correlation With Market

Very weak diversification

The correlation between Adtalem Global Education and DJI is 0.52 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Adtalem Global Education and DJI in the same portfolio, assuming nothing else is changed.

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Adtalem Global Education. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in price.

Moving together with Adtalem Stock

0.73	GHC	Graham Holdings	Pair Corr
0.83	LRN	Stride Inc	Pair Corr
0.86	UTI	Universal Technical	Pair Corr
0.85	LOPE	Grand Canyon Education	Pair Corr
0.61	SKIL	Skillsoft Corp	Pair Corr

Moving against Adtalem Stock

0.57	EDU	New Oriental Education	Pair Corr
0.38	GNS	Genius Group	Pair Corr
0.59	MYND	Myndai,	Pair Corr
0.54	NAMI	Jinxin Technology Holding	Pair Corr
0.38	TCTM	Tarena International	Pair Corr

Related Correlations Analysis

	LOPE	AFYA	ARCE	BEDU	LAUR	APEI	STRA	LINC
LOPE		0.6	0.0	-0.19	0.83	0.22	0.31	0.82	LOPE
AFYA	0.6		0.0	-0.22	0.69	0.44	-0.22	0.35	AFYA
ARCE	0.0	0.0		0.0	0.0	0.0	0.0	0.0	ARCE
BEDU	-0.19	-0.22	0.0		-0.26	0.05	0.35	-0.22	BEDU
LAUR	0.83	0.69	0.0	-0.26		0.21	0.0	0.76	LAUR
APEI	0.22	0.44	0.0	0.05	0.21		0.06	-0.03	APEI
STRA	0.31	-0.22	0.0	0.35	0.0	0.06		0.24	STRA
LINC	0.82	0.35	0.0	-0.22	0.76	-0.03	0.24		LINC
	LOPE	AFYA	ARCE	BEDU	LAUR	APEI	STRA	LINC

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

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

LAUR	+ 0.83	LOPE
LINC	+ 0.82	LOPE
LINC	+ 0.76	LAUR
LAUR	+ 0.69	AFYA
AFYA	+ 0.6	LOPE
APEI	+ 0.44	AFYA

High negative correlations

LAUR	- 0.26	BEDU
LINC	- 0.22	BEDU
STRA	- 0.22	AFYA
BEDU	- 0.22	AFYA
BEDU	- 0.19	LOPE
LINC	- 0.03	APEI

Risk-Adjusted Indicators

There is a big difference between Adtalem Stock performing well and Adtalem Global 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 Adtalem Global'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
LOPE	1.01	0.05	0.03	0.07	1.56	(0.92)	1.93	(2.26)	7.34
AFYA	1.64	0.29	0.13	0.25	1.88	(1.82)	3.35	(3.64)	11.66
ARCE	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
BEDU	4.29	(0.19)	0.00	0.85	0.00	0.00	10.86	(8.28)	30.05
LAUR	1.24	0.08	0.04	(0.21)	1.88	(1.19)	2.45	(2.47)	10.76
APEI	2.37	0.06	0.02	0.03	2.70	(2.59)	4.02	(5.08)	27.37
STRA	1.20	(0.24)	0.00	(0.34)	0.00	0.00	1.54	(2.89)	21.01
LINC	2.45	(0.01)	0.00	0.03	3.40	(2.31)	4.68	(5.55)	22.97

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2024 Macroaxis LLC