Gray Television Correlations
| GTN Stock | USD 5.19 0.07 1.37% |
The current 90-days correlation between Gray Television and E W Scripps is 0.38 (i.e., Weak diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Gray Television moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Gray Television moves in either direction, the perfectly negatively correlated security will move in the opposite direction.
Gray Television Correlation With Market
Modest diversification
The correlation between Gray Television and DJI is 0.27 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Gray Television and DJI in the same portfolio, assuming nothing else is changed.
Gray |
Moving against Gray Stock
| 0.66 | GCI | Gannett | PairCorr |
| 0.64 | CCO | Clear Channel Outdoor | PairCorr |
| 0.6 | HAO | Haoxi Health Technology | PairCorr |
| 0.6 | LEE | Lee Enterprises Upward Rally | PairCorr |
| 0.56 | DIS | Walt Disney | PairCorr |
| 0.55 | OMC | Omnicom Group | PairCorr |
| 0.55 | TSQ | Townsquare Media | PairCorr |
| 0.54 | WIMI | WiMi Hologram Cloud | PairCorr |
| 0.54 | EEX | Emerald Expositions | PairCorr |
| 0.53 | LVO | LiveOne | PairCorr |
| 0.49 | NYT | New York Times | PairCorr |
| 0.49 | INTJ | Intelligent Group | PairCorr |
| 0.46 | IPG | Interpublic Group | PairCorr |
| 0.45 | FLNT | Fluent Inc | PairCorr |
| 0.45 | WPP | WPP PLC ADR | PairCorr |
| 0.44 | IAS | Integral Ad Science | PairCorr |
| 0.43 | DRCT | Direct Digital Holdings Earnings Call This Week | PairCorr |
| 0.41 | MCS | Marcus | PairCorr |
| 0.37 | WLYB | John Wiley Sons | PairCorr |
| 0.73 | CABO | Cable One | PairCorr |
| 0.66 | DJCO | Daily Journal Corp | PairCorr |
| 0.59 | RSVR | Reservoir Media | PairCorr |
| 0.55 | EB | Eventbrite Class A | PairCorr |
| 0.47 | TZOO | Travelzoo | PairCorr |
| 0.44 | NCTY | The9 Ltd ADR | PairCorr |
| 0.43 | STGW | Stagwell | PairCorr |
| 0.41 | KUKE | Kuke Music Holding | PairCorr |
Related Correlations Analysis
| Click cells to compare fundamentals | Check Volatility | Backtest Portfolio |
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
| High negative correlations
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Risk-Adjusted Indicators
There is a big difference between Gray Stock performing well and Gray Television 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 Gray Television'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| SSP | 5.64 | 0.83 | 0.17 | 2.34 | 4.50 | 14.03 | 46.65 | |||
| SGA | 1.74 | 0.09 | 0.07 | 0.37 | 2.03 | 4.86 | 12.30 | |||
| IHRT | 3.84 | (0.28) | 0.00 | (0.24) | 0.00 | 7.11 | 33.01 | |||
| LSXMA | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
| CMLS | 4.60 | (0.52) | 0.00 | (0.30) | 0.00 | 8.54 | 38.17 | |||
| AUDA | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
| LPTV | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
| EMMS | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
| BBGI | 2.59 | (0.57) | 0.00 | (1.16) | 0.00 | 4.03 | 18.82 |