GoPro Correlations

GPRO Stock

USD 0.78 0.02 2.63%

A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as GoPro moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if GoPro Inc moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

GoPro Correlation With Market

Weak diversification

The correlation between GoPro Inc 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 GoPro Inc 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 GoPro Inc. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in metropolitan statistical area.

Moving together with GoPro Stock

0.82	BC	Brunswick	Pair Corr
0.91	UA	Under Armour C	Pair Corr
0.71	DOGZ	Dogness International	Pair Corr
0.92	DOOO	BRP Inc Earnings Call This Week	Pair Corr
0.9	VMAR	Vision Marine Techno	Pair Corr
0.86	WLDS	Wearable Devices	Pair Corr
0.82	EZGO	EZGO Technologies	Pair Corr
0.72	FEBO	Fenbo Holdings	Pair Corr
0.63	BLD	Topbuild Corp	Pair Corr
0.85	BZH	Beazer Homes USA	Pair Corr
0.71	CCS	Century Communities	Pair Corr
0.87	FOSL	Fossil Group	Pair Corr
0.83	CRI	Carters	Pair Corr
0.86	DHI	DR Horton	Pair Corr
0.81	DTC	Solo Brands	Pair Corr
0.93	HBI	Hanesbrands	Pair Corr
0.83	HOV	Hovnanian Enterprises	Pair Corr
0.7	HWH	HWH International	Pair Corr
0.79	KBH	KB Home	Pair Corr
0.78	KTB	Kontoor Brands	Pair Corr
0.83	LEN	Lennar	Pair Corr
0.84	MHO	MI Homes	Pair Corr
0.64	MOV	Movado Group Earnings Call This Week	Pair Corr
0.77	MPX	Marine Products	Pair Corr
0.74	MTH	Meritage	Pair Corr

Moving against GoPro Stock

0.33	RL	Ralph Lauren Corp	Pair Corr
0.76	RGR	Sturm Ruger	Pair Corr
0.73	MAT	Mattel Inc	Pair Corr
0.56	HAS	Hasbro Inc	Pair Corr
0.39	GIL	Gildan Activewear	Pair Corr

Related Correlations Analysis

	SONY	LPL	VZIO	UEIC	VOXX	SSNLF	ZEPP	SONO	SNEJF
SONY		0.54	0.0	-0.71	0.22	0.25	-0.05	-0.72	0.96	SONY
LPL	0.54		0.0	-0.26	-0.1	0.24	0.05	-0.3	0.47	LPL
VZIO	0.0	0.0		0.0	0.0	0.0	0.0	0.0	0.0	VZIO
UEIC	-0.71	-0.26	0.0		0.07	-0.51	-0.05	0.84	-0.73	UEIC
VOXX	0.22	-0.1	0.0	0.07		-0.56	0.12	-0.14	0.21	VOXX
SSNLF	0.25	0.24	0.0	-0.51	-0.56		0.04	-0.31	0.28	SSNLF
ZEPP	-0.05	0.05	0.0	-0.05	0.12	0.04		-0.24	-0.1	ZEPP
SONO	-0.72	-0.3	0.0	0.84	-0.14	-0.31	-0.24		-0.7	SONO
SNEJF	0.96	0.47	0.0	-0.73	0.21	0.28	-0.1	-0.7		SNEJF
	SONY	LPL	VZIO	UEIC	VOXX	SSNLF	ZEPP	SONO	SNEJF

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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

SNEJF	+ 0.96	SONY
SONO	+ 0.84	UEIC
LPL	+ 0.54	SONY
SNEJF	+ 0.47	LPL
SNEJF	+ 0.28	SSNLF
SSNLF	+ 0.25	SONY

High negative correlations

SNEJF	- 0.73	UEIC
SONO	- 0.72	SONY
UEIC	- 0.71	SONY
SNEJF	- 0.7	SONO
SSNLF	- 0.56	VOXX
SSNLF	- 0.51	UEIC

Risk-Adjusted Indicators

There is a big difference between GoPro Stock performing well and GoPro 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 GoPro'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
SONY	1.43	0.28	0.15	0.21	1.62	(1.46)	3.22	(2.53)	10.94
LPL	1.57	0.13	0.07	0.08	2.15	(1.51)	2.75	(2.77)	10.87
VZIO	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
UEIC	1.93	(0.80)	0.00	(9.17)	0.00	0.00	3.80	(4.51)	18.98
VOXX	0.60	(0.05)	0.00	0.11	0.00	0.00	0.96	(0.81)	10.49
SSNLF	0.02	0.00	0.00	(0.56)	0.00	0.00	0.00	0.00	0.62
ZEPP	2.72	0.29	0.12	(2.19)	3.00	(3.21)	5.17	(5.25)	17.12
SONO	1.73	(0.24)	0.00	(0.30)	0.00	0.00	4.86	(4.13)	14.04
SNEJF	2.39	0.31	0.11	1.48	2.98	(2.83)	6.22	(5.22)	16.45

GoPro Corporate Management

Vincent Nakayama	Senior Engineering	Profile
Jalene CPA	VP Relations	Profile
Rick Loughery	Vice Communications	Profile
Charles Lafrades	Chief Officer	Profile
Eve JD	Chief Development	Profile

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