Games Workshop Correlations

GMWKF Stock

USD 156.04 1.04 0.67%

The current 90-days correlation between Games Workshop Group and OneSpaWorld Holdings is 0.25 (i.e., Modest diversification). The correlation of Games Workshop 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.

Games Workshop Correlation With Market

Significant diversification

The correlation between Games Workshop Group and DJI is 0.09 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Games Workshop Group and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to Games Workshop could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Games Workshop 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 Games Workshop - 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 Games Workshop Group to buy it.

Moving together with Games Pink Sheet

0.67	CUK	Carnival Plc ADS	Pair Corr
0.73	17298CHT8	US17298CHT80	Pair Corr
0.63	API	Agora Inc Trending	Pair Corr
0.63	FTNT	Fortinet	Pair Corr
0.72	PLTR	Palantir Technologies Aggressive Push	Pair Corr
0.66	TSLA	Tesla Inc Aggressive Push	Pair Corr
0.65	SCWX	Secureworks Corp	Pair Corr

Moving against Games Pink Sheet

0.75	OLCLF	Oriental Land Earnings Call This Week	Pair Corr
0.62	ANPDF	ANTA Sports Products	Pair Corr
0.54	OLCLY	Oriental Land Earnings Call This Week	Pair Corr
0.54	BKRKY	Bank Rakyat	Pair Corr
0.53	ANPDY	ANTA Sports Products	Pair Corr
0.53	PPERY	Bank Mandiri Persero	Pair Corr
0.52	PBCRF	PT Bank Central Earnings Call This Week	Pair Corr
0.48	SHMDF	Shimano	Pair Corr
0.47	SMNNY	Shimano Inc ADR	Pair Corr
0.44	PPERF	Bank Mandiri Persero	Pair Corr
0.43	PBCRY	Bank Central Asia Earnings Call This Week	Pair Corr
0.37	TLK	Telkom Indonesia Tbk	Pair Corr
0.35	BKRKF	PT Bank Rakyat	Pair Corr
0.47	40049JAT4	Grupo Televisa SAB	Pair Corr
0.35	931142CM3	WALMART INC 62	Pair Corr

Related Correlations Analysis

	OSW	FGH	DSHK	JOUT	ESCA	JAKK	CLAR	SEAS	FUN	LTH
OSW		-0.26	-0.47	0.52	0.75	0.22	0.65	0.44	0.91	-0.33	OSW
FGH	-0.26		-0.06	0.29	-0.28	-0.27	-0.03	-0.08	-0.37	-0.14	FGH
DSHK	-0.47	-0.06		-0.45	0.0	0.24	-0.18	-0.04	-0.46	0.58	DSHK
JOUT	0.52	0.29	-0.45		0.38	-0.22	0.61	0.02	0.37	-0.16	JOUT
ESCA	0.75	-0.28	0.0	0.38		0.26	0.76	0.49	0.67	0.02	ESCA
JAKK	0.22	-0.27	0.24	-0.22	0.26		0.2	0.53	0.26	-0.16	JAKK
CLAR	0.65	-0.03	-0.18	0.61	0.76	0.2		0.51	0.5	-0.11	CLAR
SEAS	0.44	-0.08	-0.04	0.02	0.49	0.53	0.51		0.4	-0.36	SEAS
FUN	0.91	-0.37	-0.46	0.37	0.67	0.26	0.5	0.4		-0.43	FUN
LTH	-0.33	-0.14	0.58	-0.16	0.02	-0.16	-0.11	-0.36	-0.43		LTH
	OSW	FGH	DSHK	JOUT	ESCA	JAKK	CLAR	SEAS	FUN	LTH

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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

FUN	+ 0.91	OSW
CLAR	+ 0.76	ESCA
ESCA	+ 0.75	OSW
FUN	+ 0.67	ESCA
CLAR	+ 0.65	OSW
CLAR	+ 0.61	JOUT

High negative correlations

DSHK	- 0.47	OSW
FUN	- 0.46	DSHK
JOUT	- 0.45	DSHK
LTH	- 0.43	FUN
FUN	- 0.37	FGH
LTH	- 0.36	SEAS

Risk-Adjusted Indicators

There is a big difference between Games Pink Sheet performing well and Games Workshop 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 Games Workshop'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
OSW	1.20	0.22	0.12	0.61	1.36	(1.36)	3.26	(2.70)	9.31
FGH	3.58	(0.19)	0.00	(0.62)	0.00	0.00	7.43	(6.60)	23.85
DSHK	8.34	4.23	0.63	(22.83)	4.48	(13.41)	27.03	(6.98)	48.14
JOUT	1.75	0.00	0.00	0.02	2.32	(1.82)	3.95	(4.07)	11.70
ESCA	1.97	0.19	0.06	0.31	2.76	(1.78)	4.95	(4.55)	15.09
JAKK	1.85	0.13	0.06	0.19	2.11	(2.00)	3.68	(3.72)	20.03
CLAR	2.10	0.09	0.02	0.23	2.94	(2.09)	4.35	(5.60)	18.59
SEAS	1.85	0.03	0.00	(0.04)	2.18	(1.94)	3.85	(3.45)	10.32
FUN	1.52	0.19	0.11	1.68	1.52	(1.76)	4.52	(2.65)	10.63
LTH	1.60	0.12	0.04	0.34	2.39	(1.52)	3.14	(3.33)	11.23

Be your own money manager

Our tools can tell you how much better you can do entering a position in Games Workshop 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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