Godaddy Correlations

GDDY Stock

USD 197.57 0.28 0.14%

The current 90-days correlation between Godaddy and Fleetcor Technologies is -0.01 (i.e., Good diversification). The correlation of Godaddy 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.

Godaddy Correlation With Market

Very weak diversification

The correlation between Godaddy 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 Godaddy 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 Godaddy. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in unemployment.

For more information on how to buy Godaddy Stock please use our How to Invest in Godaddy guide.

Moving together with Godaddy Stock

0.84	S	SentinelOne	Pair Corr
0.91	NN	Nextnav Acquisition Corp	Pair Corr
0.87	ZS	Zscaler	Pair Corr
0.66	EEFT	Euronet Worldwide	Pair Corr
0.89	EVCM	EverCommerce	Pair Corr
0.83	EVTC	Evertec	Pair Corr
0.64	CETXP	Cemtrex Pref	Pair Corr
0.84	FFIV	F5 Networks	Pair Corr
0.96	FIVN	Five9 Inc	Pair Corr
0.91	FLYW	Flywire Corp	Pair Corr
0.77	BOX	Box Inc Earnings Call This Week	Pair Corr
0.87	DBX	Dropbox	Pair Corr
0.84	DLO	Dlocal	Pair Corr
0.93	GEN	Gen Digital	Pair Corr
0.93	FTNT	Fortinet	Pair Corr
0.7	IOT	Samsara	Pair Corr
0.63	MDB	MongoDB Earnings Call This Week	Pair Corr
0.87	NET	Cloudflare	Pair Corr
0.95	PAY	Paymentus Holdings	Pair Corr
0.75	RPD	Rapid7 Inc	Pair Corr

Moving against Godaddy Stock

0.74	MQ	Marqeta Potential Growth	Pair Corr
0.74	FAAS	DigiAsia Corp Symbol Change	Pair Corr
0.52	VRNS	Varonis Systems	Pair Corr
0.47	VRAR	Glimpse Group	Pair Corr
0.46	VERI	Veritone	Pair Corr
0.89	VHC	VirnetX Holding Corp	Pair Corr
0.83	TCX	Tucows Inc	Pair Corr

Related Correlations Analysis

	FLT	STER	RPAY	SPSC	EVTC	CCSI	GB	LVOX	ESMT	EVCM
FLT		0.06	-0.17	-0.09	-0.38	-0.42	-0.16	-0.43	0.04	-0.41	FLT
STER	0.06		-0.13	-0.38	0.46	0.26	0.34	-0.23	0.79	0.57	STER
RPAY	-0.17	-0.13		0.2	0.41	0.66	0.0	0.08	-0.15	0.47	RPAY
SPSC	-0.09	-0.38	0.2		0.15	-0.06	-0.24	0.19	-0.15	-0.11	SPSC
EVTC	-0.38	0.46	0.41	0.15		0.76	0.55	-0.07	0.43	0.82	EVTC
CCSI	-0.42	0.26	0.66	-0.06	0.76		0.33	-0.02	0.24	0.78	CCSI
GB	-0.16	0.34	0.0	-0.24	0.55	0.33		-0.16	0.08	0.49	GB
LVOX	-0.43	-0.23	0.08	0.19	-0.07	-0.02	-0.16		-0.11	0.05	LVOX
ESMT	0.04	0.79	-0.15	-0.15	0.43	0.24	0.08	-0.11		0.41	ESMT
EVCM	-0.41	0.57	0.47	-0.11	0.82	0.78	0.49	0.05	0.41		EVCM
	FLT	STER	RPAY	SPSC	EVTC	CCSI	GB	LVOX	ESMT	EVCM

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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

EVCM	+ 0.82	EVTC
ESMT	+ 0.79	STER
EVCM	+ 0.78	CCSI
CCSI	+ 0.76	EVTC
CCSI	+ 0.66	RPAY
EVCM	+ 0.57	STER

High negative correlations

LVOX	- 0.43	FLT
CCSI	- 0.42	FLT
EVCM	- 0.41	FLT
SPSC	- 0.38	STER
EVTC	- 0.38	FLT
GB	- 0.24	SPSC

Risk-Adjusted Indicators

There is a big difference between Godaddy Stock performing well and Godaddy 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 Godaddy'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
FLT	1.09	(0.03)	0.00	0.55	0.00	0.00	1.95	(1.95)	9.73
STER	0.66	0.07	(0.03)	0.61	0.93	(0.71)	1.77	(1.22)	7.04
RPAY	1.66	(0.25)	0.00	(0.03)	0.00	0.00	3.01	(3.56)	15.69
SPSC	1.32	(0.26)	0.00	(0.01)	0.00	0.00	2.68	(2.74)	13.74
EVTC	1.21	(0.01)	0.00	0.12	1.61	(1.21)	2.43	(2.66)	8.27
CCSI	2.10	(0.12)	0.01	0.07	2.43	(2.32)	4.16	(3.62)	20.68
GB	2.70	0.39	0.07	5.43	3.54	(2.95)	6.48	(5.13)	23.79
LVOX	2.06	0.04	0.00	0.06	0.00	0.00	4.81	(4.26)	19.68
ESMT	1.57	0.10	(0.01)	1.26	1.90	(1.59)	3.90	(2.93)	9.34
EVCM	1.36	0.03	0.06	0.15	1.67	(1.61)	3.46	(2.45)	13.03

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