Global Partners Correlations

GLPPRB Stock

25.97 0.01 0.04%

The correlation of Global Partners 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.

Global Partners Correlation With Market

Modest diversification

The correlation between Global Partners LP 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 Global Partners LP 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 Global Partners LP. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in american community survey.

Moving against Global Stock

0.78	MKRIF	Melkior Resources	Pair Corr
0.7	EMX	EMX Royalty Corp	Pair Corr
0.66	BLAGF	Blue Lagoon Resources	Pair Corr
0.65	TPX	TPX Old Symbol Change	Pair Corr
0.61	SENEA	Seneca Foods Corp	Pair Corr
0.55	NTNX	Nutanix	Pair Corr
0.5	SR	Spire Inc	Pair Corr
0.48	BRK-B	Berkshire Hathaway Sell-off Trend	Pair Corr
0.48	TYEKF	Thyssenkrupp AG ON Trending	Pair Corr
0.4	PRPO	Precipio	Pair Corr
0.37	BEST	BEST Inc	Pair Corr
0.36	META	Meta Platforms	Pair Corr
0.31	EPGG	Empire Global Gaming	Pair Corr
0.66	NATH	Nathans Famous	Pair Corr
0.49	ZNZNF	Zinzino AB	Pair Corr
0.48	BRK-A	Berkshire Hathaway	Pair Corr
0.46	NMR	Nomura Holdings ADR	Pair Corr
0.45	SGGKF	Singapore Technologies	Pair Corr
0.44	NOKBF	Nokia	Pair Corr
0.43	LYG	Lloyds Banking Group Aggressive Push	Pair Corr
0.43	RHHVF	Roche Holding AG	Pair Corr
0.42	MRNOW	Murano Global Investments	Pair Corr
0.41	GRAF	Graf Global Corp	Pair Corr

Related Correlations Analysis

	CHMN	FARO	WDC	CF	IONR	HGMCF	HDSN	ALNT
CHMN		0.0	0.0	0.0	0.0	0.0	0.0	0.0	CHMN
FARO	0.0		-0.02	0.01	-0.02	0.34	0.23	0.13	FARO
WDC	0.0	-0.02		0.21	0.69	-0.25	0.66	0.81	WDC
CF	0.0	0.01	0.21		0.54	-0.67	0.41	0.18	CF
IONR	0.0	-0.02	0.69	0.54		-0.54	0.5	0.51	IONR
HGMCF	0.0	0.34	-0.25	-0.67	-0.54		-0.21	-0.02	HGMCF
HDSN	0.0	0.23	0.66	0.41	0.5	-0.21		0.66	HDSN
ALNT	0.0	0.13	0.81	0.18	0.51	-0.02	0.66		ALNT
	CHMN	FARO	WDC	CF	IONR	HGMCF	HDSN	ALNT

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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

ALNT	+ 0.81	WDC
IONR	+ 0.69	WDC
HDSN	+ 0.66	WDC
ALNT	+ 0.66	HDSN
IONR	+ 0.54	CF
ALNT	+ 0.51	IONR

High negative correlations

HGMCF	- 0.67	CF
HGMCF	- 0.54	IONR
HGMCF	- 0.25	WDC
HDSN	- 0.21	HGMCF
ALNT	- 0.02	HGMCF
IONR	- 0.02	FARO

Risk-Adjusted Indicators

There is a big difference between Global Stock performing well and Global Partners 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 Global Partners' 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
CHMN	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
FARO	2.48	0.38	0.15	0.28	2.38	(2.94)	4.78	(4.10)	21.98
WDC	1.91	(0.25)	0.00	(0.32)	0.00	0.00	3.75	(5.06)	12.72
CF	1.78	(0.13)	0.00	(0.20)	0.00	0.00	3.13	(4.59)	15.08
IONR	3.42	(0.33)	0.00	(0.20)	0.00	0.00	6.70	(6.22)	32.97
HGMCF	4.15	1.40	0.17	5.13	3.88	(9.36)	15.08	(4.48)	38.00
HDSN	1.52	(0.12)	0.00	(0.53)	0.00	0.00	3.37	(3.02)	8.73
ALNT	1.89	0.03	0.00	(0.05)	0.00	0.00	3.22	(4.14)	13.19

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