Gitlab Correlations

GTLB Stock

USD 51.60 1.71 3.43%

The current 90-days correlation between Gitlab Inc and Bill Com Holdings is 0.34 (i.e., Weak diversification). The correlation of Gitlab 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.

Gitlab Correlation With Market

Modest diversification

The correlation between Gitlab Inc and DJI is 0.28 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Gitlab 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 Gitlab 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 bureau of economic analysis.

Moving together with Gitlab Stock

0.77	S	SentinelOne	Pair Corr
0.7	DOCN	DigitalOcean Holdings	Pair Corr
0.72	EXOD	Exodus Movement, Trending	Pair Corr
0.62	FIVN	Five9 Inc	Pair Corr
0.77	BOX	Box Inc Sell-off Trend	Pair Corr
0.77	DBX	Dropbox	Pair Corr
0.8	DLO	Dlocal	Pair Corr
0.89	IOT	Samsara	Pair Corr
0.81	MDB	MongoDB	Pair Corr
0.68	NET	Cloudflare	Pair Corr
0.84	RXT	Rackspace Technology	Pair Corr

Moving against Gitlab Stock

0.59	EVTC	Evertec	Pair Corr
0.39	MQ	Marqeta Tech Boost	Pair Corr
0.36	TCX	Tucows Inc	Pair Corr

Related Correlations Analysis

	BILL	DDOG	ASAN	TEAM	TTD	NOW	SNOW	U	MNDY	ZI
BILL		0.87	0.56	0.13	0.91	0.89	0.21	-0.05	-0.46	-0.34	BILL
DDOG	0.87		0.82	0.35	0.96	0.93	0.36	-0.01	-0.17	-0.33	DDOG
ASAN	0.56	0.82		0.64	0.68	0.73	0.59	0.22	0.27	-0.12	ASAN
TEAM	0.13	0.35	0.64		0.18	0.23	0.91	0.04	0.7	-0.11	TEAM
TTD	0.91	0.96	0.68	0.18		0.91	0.19	-0.06	-0.34	-0.36	TTD
NOW	0.89	0.93	0.73	0.23	0.91		0.3	0.12	-0.21	-0.32	NOW
SNOW	0.21	0.36	0.59	0.91	0.19	0.3		-0.02	0.62	-0.17	SNOW
U	-0.05	-0.01	0.22	0.04	-0.06	0.12	-0.02		0.21	0.25	U
MNDY	-0.46	-0.17	0.27	0.7	-0.34	-0.21	0.62	0.21		0.11	MNDY
ZI	-0.34	-0.33	-0.12	-0.11	-0.36	-0.32	-0.17	0.25	0.11		ZI
	BILL	DDOG	ASAN	TEAM	TTD	NOW	SNOW	U	MNDY	ZI

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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

TTD	+ 0.96	DDOG
NOW	+ 0.93	DDOG
TTD	+ 0.91	BILL
SNOW	+ 0.91	TEAM
NOW	+ 0.91	TTD
NOW	+ 0.89	BILL

High negative correlations

MNDY	- 0.46	BILL
ZI	- 0.36	TTD
MNDY	- 0.34	TTD
ZI	- 0.34	BILL
ZI	- 0.33	DDOG
ZI	- 0.32	NOW

Risk-Adjusted Indicators

There is a big difference between Gitlab Stock performing well and Gitlab 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 Gitlab'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
BILL	2.67	(0.60)	0.00	(0.35)	0.00	0.00	4.99	(6.58)	41.32
DDOG	1.79	(0.52)	0.00	(0.73)	0.00	0.00	2.66	(4.28)	15.08
ASAN	3.73	(0.42)	0.00	(0.28)	0.00	0.00	7.42	(6.65)	38.18
TEAM	2.38	(0.11)	0.00	(0.17)	0.00	0.00	3.80	(7.26)	24.54
TTD	2.56	(1.20)	0.00	(2.89)	0.00	0.00	3.49	(5.25)	37.45
NOW	1.79	(0.32)	0.00	(0.35)	0.00	0.00	2.61	(4.82)	14.05
SNOW	2.09	(0.01)	0.00	(0.10)	0.00	0.00	3.60	(3.93)	19.02
U	3.53	(0.10)	0.00	(0.19)	0.00	0.00	6.69	(8.82)	41.49
MNDY	3.13	0.19	0.02	0.00	4.04	(3.14)	6.35	(7.61)	35.81
ZI	2.21	0.09	0.06	0.14	2.33	(2.67)	3.82	(4.02)	27.29

Gitlab Corporate Management

Sabrina Farmer	Chief Officer	Profile
Robin Schulman	Head Officer	Profile
Natasha Woods	Director Communications	Profile
Ashley Kramer	Chief Officer	Profile

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