Global Payments Correlations

GPN Stock

USD 98.12 2.26 2.36%

The current 90-days correlation between Global Payments and Copart Inc is 0.35 (i.e., Weak diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Global Payments moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Global Payments moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Global Payments Correlation With Market

Significant diversification

The correlation between Global Payments and DJI is 0.07 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Global Payments 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 Payments. 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.

To learn how to invest in Global Stock, please use our How to Invest in Global Payments guide.

Moving together with Global Stock

0.83	TH	Target Hospitality Corp	Pair Corr
0.87	DLHC	DLH Holdings Corp	Pair Corr
0.8	SST	System1	Pair Corr
0.61	OMEX	Odyssey Marine Explo	Pair Corr
0.74	PRSU	Pursuit Attractions and Symbol Change	Pair Corr
0.8	QUAD	Quad Graphics	Pair Corr
0.64	SFHG	Samfine Creation Holdings	Pair Corr
0.91	SGRP	SPAR Group	Pair Corr
0.75	SPIR	Spire Global	Pair Corr
0.7	J	Jacobs Solutions	Pair Corr
0.86	BW	Babcock Wilcox Enter	Pair Corr
0.72	CW	Curtiss Wright	Pair Corr
0.8	DY	Dycom Industries	Pair Corr
0.65	FA	First Advantage Corp	Pair Corr

Moving against Global Stock

0.72	PC	Premium Catering	Pair Corr
0.67	RBA	RB Global	Pair Corr
0.58	LZ	LegalZoom	Pair Corr
0.87	BZ	Kanzhun Ltd ADR	Pair Corr
0.83	VACH	Voyager Acquisition Corp	Pair Corr
0.73	SB	Safe Bulkers	Pair Corr
0.67	EH	Ehang Holdings Downward Rally	Pair Corr
0.62	WM	Waste Management	Pair Corr
0.37	KC	Kingsoft Cloud Holdings	Pair Corr
0.31	DE	Deere Company	Pair Corr

Related Correlations Analysis

	CPRT	ABM	TRI	ARMK	MMS	AZZ	CASS	CBZ	KMX	CTAS
CPRT		0.57	-0.14	0.5	0.34	0.17	-0.19	0.86	0.69	0.11	CPRT
ABM	0.57		0.14	0.34	0.21	0.35	-0.17	0.65	0.51	0.55	ABM
TRI	-0.14	0.14		-0.26	-0.82	0.74	0.84	-0.12	0.1	0.73	TRI
ARMK	0.5	0.34	-0.26		0.51	0.12	-0.26	0.72	0.7	0.1	ARMK
MMS	0.34	0.21	-0.82	0.51		-0.57	-0.86	0.38	0.09	-0.4	MMS
AZZ	0.17	0.35	0.74	0.12	-0.57		0.69	0.31	0.42	0.78	AZZ
CASS	-0.19	-0.17	0.84	-0.26	-0.86	0.69		-0.19	0.1	0.53	CASS
CBZ	0.86	0.65	-0.12	0.72	0.38	0.31	-0.19		0.82	0.27	CBZ
KMX	0.69	0.51	0.1	0.7	0.09	0.42	0.1	0.82		0.28	KMX
CTAS	0.11	0.55	0.73	0.1	-0.4	0.78	0.53	0.27	0.28		CTAS
	CPRT	ABM	TRI	ARMK	MMS	AZZ	CASS	CBZ	KMX	CTAS

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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

CBZ	+ 0.86	CPRT
CASS	+ 0.84	TRI
KMX	+ 0.82	CBZ
CTAS	+ 0.78	AZZ
AZZ	+ 0.74	TRI
CTAS	+ 0.73	TRI

High negative correlations

CASS	- 0.86	MMS
MMS	- 0.82	TRI
AZZ	- 0.57	MMS
CTAS	- 0.4	MMS
CASS	- 0.26	ARMK
ARMK	- 0.26	TRI

Risk-Adjusted Indicators

There is a big difference between Global Stock performing well and Global Payments 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 Payments' 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
CPRT	0.84	(0.14)	0.00	(3.57)	0.00	0.00	1.49	(1.86)	4.96
ABM	1.22	(0.07)	0.00	(0.80)	0.00	0.00	2.86	(2.42)	13.59
TRI	0.92	0.08	0.13	1.36	0.99	(1.19)	1.96	(1.52)	7.46
ARMK	1.20	(0.18)	0.00	(0.28)	0.00	0.00	2.26	(2.78)	6.45
MMS	1.32	(0.03)	0.00	(0.14)	0.00	0.00	2.55	(2.51)	10.72
AZZ	1.55	(0.09)	0.00	(0.16)	0.00	0.00	3.13	(3.47)	10.31
CASS	1.11	0.06	0.04	0.00	1.79	(1.05)	2.58	(2.61)	8.63
CBZ	1.21	(0.08)	0.00	(0.18)	0.00	0.00	2.03	(3.27)	7.72
KMX	1.42	(0.19)	0.00	(0.21)	0.00	0.00	3.17	(3.49)	9.29
CTAS	1.05	0.07	0.12	2.02	1.04	(1.24)	2.06	(1.74)	4.90

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