Globe Telecom Correlations

GLO Stock

2,270 6.00 0.26%

The current 90-days correlation between Globe Telecom and Apex Mining Co is 0.18 (i.e., Average diversification). The correlation of Globe Telecom 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.

Globe Telecom Correlation With Market

Average diversification

The correlation between Globe Telecom and DJI is 0.13 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Globe Telecom and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to Globe Telecom could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Globe Telecom when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back Globe Telecom - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling Globe Telecom to buy it.

Moving together with Globe Stock

0.83	SCC	Semirara Mining Corp	Pair Corr
0.82	APL	Apollo Global Capital	Pair Corr

Moving against Globe Stock

0.75	AC	Ayala Corp	Pair Corr
0.74	SM	SM Investments Corp	Pair Corr
0.65	ALI	Ayala Land	Pair Corr
0.65	BDO	BDO Unibank	Pair Corr
0.38	FB	San Miguel Pure	Pair Corr
0.33	BPI	Bank of the	Pair Corr

Related Correlations Analysis

	APX	HOME	SUN	FCG	PHA	MRSGI	PX
APX		-0.79	-0.74	-0.57	-0.73	0.43	0.77	APX
HOME	-0.79		0.66	0.43	0.71	-0.46	-0.67	HOME
SUN	-0.74	0.66		0.52	0.59	-0.42	-0.76	SUN
FCG	-0.57	0.43	0.52		0.2	-0.39	-0.68	FCG
PHA	-0.73	0.71	0.59	0.2		-0.47	-0.58	PHA
MRSGI	0.43	-0.46	-0.42	-0.39	-0.47		0.63	MRSGI
PX	0.77	-0.67	-0.76	-0.68	-0.58	0.63		PX
	APX	HOME	SUN	FCG	PHA	MRSGI	PX

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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

PX	+ 0.77	APX
PHA	+ 0.71	HOME
SUN	+ 0.66	HOME
PX	+ 0.63	MRSGI
PHA	+ 0.59	SUN
FCG	+ 0.52	SUN

High negative correlations

HOME	- 0.79	APX
PX	- 0.76	SUN
SUN	- 0.74	APX
PHA	- 0.73	APX
PX	- 0.68	FCG
PX	- 0.67	HOME

Risk-Adjusted Indicators

There is a big difference between Globe Stock performing well and Globe Telecom 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 Globe Telecom'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
APX	1.45	0.26	0.16	(1.86)	1.40	(1.68)	3.37	(2.45)	11.87
HOME	2.01	(0.28)	0.00	0.86	0.00	0.00	3.70	(4.76)	11.43
SUN	2.24	(0.07)	0.00	(0.82)	0.00	0.00	6.33	(5.68)	16.03
FCG	1.53	(0.05)	0.00	(0.17)	0.00	0.00	3.49	(3.57)	8.61
PHA	1.64	(0.23)	0.00	(0.58)	0.00	0.00	5.88	(5.88)	12.13
MRSGI	0.96	0.15	0.08	(2.10)	1.11	(1.53)	1.69	(1.65)	8.37
PX	2.38	0.95	0.45	2.67	1.36	(3.31)	6.43	(2.68)	22.43

Be your own money manager

Our tools can tell you how much better you can do entering a position in Globe Telecom without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.

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