Grid Dynamics Correlations

GDYN Stock

USD 16.91 0.21 1.26%

The current 90-days correlation between Grid Dynamics Holdings and ASGN Inc is 0.04 (i.e., Significant diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Grid Dynamics moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Grid Dynamics Holdings moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Grid Dynamics Correlation With Market

Modest diversification

The correlation between Grid Dynamics Holdings and DJI is 0.24 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Grid Dynamics Holdings 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 Grid Dynamics Holdings. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in manufacturing.

Moving together with Grid Stock

0.82	IT	Gartner	Pair Corr
0.69	KD	Kyndryl Holdings	Pair Corr
0.79	DMRC	Digimarc	Pair Corr
0.71	VEEA	Veea Inc Symbol Change	Pair Corr
0.7	DTST	Data Storage Corp Earnings Call Tomorrow	Pair Corr
0.9	EPAM	EPAM Systems	Pair Corr
0.87	ACN	Accenture plc	Pair Corr
0.85	DXC	DXC Technology	Pair Corr
0.86	GIB	CGI Inc	Pair Corr
0.74	MFH	Mercurity Fintech Holding	Pair Corr
0.84	UIS	Unisys	Pair Corr
0.66	VYX	NCR Voyix	Pair Corr
0.88	WIT	Wipro Limited ADR	Pair Corr
0.84	GLOB	Globant SA	Pair Corr
0.83	HCKT	Hackett Group	Pair Corr
0.79	INFY	Infosys Ltd ADR	Pair Corr
0.65	VEEAW	Veea Inc Symbol Change	Pair Corr
0.77	NABL	N Able Inc	Pair Corr

Moving against Grid Stock

0.47	JZ	Jianzhi Education	Pair Corr
0.35	VNET	VNET Group DRC Earnings Call Today	Pair Corr
0.46	JKHY	Jack Henry Associates	Pair Corr
0.33	MGIC	Magic Software Enter	Pair Corr

Related Correlations Analysis

	EXLS	ASGN	WNS	IT	HCKT	PRFT	G	PSN	CACI
EXLS		0.05	0.61	0.67	0.52	0.0	0.7	-0.26	-0.36	EXLS
ASGN	0.05		-0.45	0.66	0.5	0.0	-0.65	0.88	0.75	ASGN
WNS	0.61	-0.45		0.02	-0.09	0.0	0.74	-0.76	-0.6	WNS
IT	0.67	0.66	0.02		0.75	0.0	0.06	0.38	0.14	IT
HCKT	0.52	0.5	-0.09	0.75		0.0	0.05	0.44	-0.04	HCKT
PRFT	0.0	0.0	0.0	0.0	0.0		0.0	0.0	0.0	PRFT
G	0.7	-0.65	0.74	0.06	0.05	0.0		-0.8	-0.8	G
PSN	-0.26	0.88	-0.76	0.38	0.44	0.0	-0.8		0.81	PSN
CACI	-0.36	0.75	-0.6	0.14	-0.04	0.0	-0.8	0.81		CACI
	EXLS	ASGN	WNS	IT	HCKT	PRFT	G	PSN	CACI

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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

PSN	+ 0.88	ASGN
CACI	+ 0.81	PSN
CACI	+ 0.75	ASGN
HCKT	+ 0.75	IT
G	+ 0.74	WNS
G	+ 0.7	EXLS

High negative correlations

CACI	- 0.8	G
PSN	- 0.8	G
PSN	- 0.76	WNS
G	- 0.65	ASGN
CACI	- 0.6	WNS
WNS	- 0.45	ASGN

Risk-Adjusted Indicators

There is a big difference between Grid Stock performing well and Grid Dynamics 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 Grid Dynamics' 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
EXLS	1.13	0.05	0.03	0.01	1.65	(1.09)	2.09	(2.63)	10.29
ASGN	1.63	(0.45)	0.00	(0.57)	0.00	0.00	2.64	(4.79)	9.85
WNS	1.83	0.52	0.25	0.36	1.67	(2.18)	4.57	(3.21)	26.44
IT	1.16	(0.20)	0.00	(0.25)	0.00	0.00	1.93	(3.01)	8.91
HCKT	0.94	(0.13)	0.00	(0.24)	0.00	0.00	1.45	(2.30)	4.43
PRFT	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
G	1.09	0.23	0.18	0.42	1.13	(1.17)	2.24	(2.26)	14.50
PSN	1.79	(0.68)	0.00	(1.11)	0.00	0.00	2.54	(4.93)	13.43
CACI	1.86	(0.14)	0.00	(0.41)	0.00	0.00	3.69	(4.45)	13.03

Grid Dynamics Corporate Management

Rajeev Sharma	Chief Officer	Profile
Rahul Shah	Regional India	Profile
Vadim Kozyrkov	Senior Development	Profile
Yury Gryzlov	Chief Officer	Profile
Leonard Livschitz	CEO Director	Profile
Valery Zelixon	Senior Management	Profile

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