Globant SA Correlations

GLOB Stock

USD 229.55 1.38 0.60%

The current 90-days correlation between Globant SA and ASGN Inc is 0.35 (i.e., Weak diversification). The correlation of Globant SA 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.

Globant SA Correlation With Market

Weak diversification

The correlation between Globant SA and DJI is 0.36 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Globant SA 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 Globant SA. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in persons.

For information on how to trade Globant Stock refer to our How to Trade Globant Stock guide.

Moving together with Globant Stock

0.62	G	Genpact Limited	Pair Corr
0.75	BR	Broadridge Financial	Pair Corr
0.85	FI	Fiserv,	Pair Corr
0.73	IT	Gartner	Pair Corr
0.69	KD	Kyndryl Holdings Tech Boost	Pair Corr
0.82	DMRC	Digimarc	Pair Corr
0.71	WEBB	Web Global Holdings	Pair Corr
0.82	EXLS	ExlService Holdings	Pair Corr
0.69	ACN	Accenture plc	Pair Corr
0.65	FIS	Fidelity National	Pair Corr
0.78	UIS	Unisys	Pair Corr
0.74	WIT	Wipro Limited ADR	Pair Corr
0.91	GDYN	Grid Dynamics Holdings	Pair Corr
0.72	LDOS	Leidos Holdings	Pair Corr

Moving against Globant Stock

0.51	VEEA	Veea Inc Symbol Change	Pair Corr
0.68	NTRP	NextTrip Symbol Change	Pair Corr
0.67	NOTE	FiscalNote Holdings	Pair Corr
0.59	NABL	N Able Inc	Pair Corr
0.51	XRX	Xerox Corp Sell-off Trend	Pair Corr
0.35	WNS	WNS Holdings	Pair Corr

Related Correlations Analysis

	ACN	CNXC	CTSH	CDW	ASGN	EXLS	CACI	CLVT	EPAM	JKHY
ACN		-0.67	0.35	-0.19	0.2	0.5	0.41	-0.27	0.25	0.61	ACN
CNXC	-0.67		-0.24	0.61	0.07	-0.82	-0.51	0.55	-0.37	-0.48	CNXC
CTSH	0.35	-0.24		-0.44	0.21	0.66	0.02	-0.7	0.85	-0.26	CTSH
CDW	-0.19	0.61	-0.44		0.48	-0.84	0.02	0.79	-0.73	0.18	CDW
ASGN	0.2	0.07	0.21	0.48		-0.05	0.63	0.16	-0.24	0.44	ASGN
EXLS	0.5	-0.82	0.66	-0.84	-0.05		0.32	-0.84	0.76	0.1	EXLS
CACI	0.41	-0.51	0.02	0.02	0.63	0.32		-0.06	-0.2	0.77	CACI
CLVT	-0.27	0.55	-0.7	0.79	0.16	-0.84	-0.06		-0.86	0.24	CLVT
EPAM	0.25	-0.37	0.85	-0.73	-0.24	0.76	-0.2	-0.86		-0.44	EPAM
JKHY	0.61	-0.48	-0.26	0.18	0.44	0.1	0.77	0.24	-0.44		JKHY
	ACN	CNXC	CTSH	CDW	ASGN	EXLS	CACI	CLVT	EPAM	JKHY

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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

EPAM	+ 0.85	CTSH
CLVT	+ 0.79	CDW
JKHY	+ 0.77	CACI
EPAM	+ 0.76	EXLS
EXLS	+ 0.66	CTSH
CACI	+ 0.63	ASGN

High negative correlations

EPAM	- 0.86	CLVT
CLVT	- 0.84	EXLS
EXLS	- 0.84	CDW
EXLS	- 0.82	CNXC
EPAM	- 0.73	CDW
CLVT	- 0.7	CTSH

Risk-Adjusted Indicators

There is a big difference between Globant Stock performing well and Globant SA 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 Globant SA'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
ACN	1.01	0.03	0.00	0.17	1.52	(1.04)	1.72	(2.20)	10.10
CNXC	2.18	(0.78)	0.00	(0.65)	0.00	0.00	3.42	(4.17)	22.16
CTSH	0.96	(0.05)	(0.02)	0.08	1.44	(0.89)	1.93	(1.89)	9.84
CDW	1.43	(0.54)	0.00	(0.25)	0.00	0.00	1.68	(3.50)	14.61
ASGN	1.50	(0.30)	0.00	(0.03)	0.00	0.00	2.35	(3.35)	13.02
EXLS	1.04	0.25	0.31	0.35	0.40	(1.33)	2.56	(1.41)	8.35
CACI	1.26	(0.08)	(0.04)	0.02	2.53	(1.09)	2.84	(4.18)	14.84
CLVT	2.28	(0.03)	0.00	0.15	0.00	0.00	4.52	(3.78)	31.28
EPAM	1.53	0.22	0.17	0.29	1.21	(1.82)	4.20	(2.49)	18.82
JKHY	0.79	0.04	(0.08)	(1.57)	0.99	(0.80)	1.79	(1.51)	5.03

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