Globavend Holdings Correlations

GVH Stock

0.70 0.02 2.78%

The current 90-days correlation between Globavend Holdings and Sphere 3D Corp is 0.05 (i.e., Significant diversification). The correlation of Globavend Holdings 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.

Globavend Holdings Correlation With Market

Good diversification

The correlation between Globavend Holdings Limited and DJI is -0.08 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Globavend Holdings Limited 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 Globavend Holdings Limited. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in real.

Moving against Globavend Stock

0.31	LSH	Lakeside Holding	Pair Corr
0.49	NL	NL Industries Earnings Call This Week	Pair Corr
0.37	BV	BrightView Holdings	Pair Corr
0.35	AL	Air Lease	Pair Corr
0.31	BW	Babcock Wilcox Enter	Pair Corr

Related Correlations Analysis

	SINGY	LUV	ATSG	ANY	LTM	ARW	MESA
SINGY		-0.21	0.22	-0.25	0.51	-0.11	-0.16	SINGY
LUV	-0.21		-0.73	0.63	-0.81	0.51	0.05	LUV
ATSG	0.22	-0.73		-0.71	0.76	-0.47	0.31	ATSG
ANY	-0.25	0.63	-0.71		-0.67	0.73	-0.54	ANY
LTM	0.51	-0.81	0.76	-0.67		-0.5	-0.04	LTM
ARW	-0.11	0.51	-0.47	0.73	-0.5		-0.26	ARW
MESA	-0.16	0.05	0.31	-0.54	-0.04	-0.26		MESA
	SINGY	LUV	ATSG	ANY	LTM	ARW	MESA

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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

LTM	+ 0.76	ATSG
ARW	+ 0.73	ANY
ANY	+ 0.63	LUV
LTM	+ 0.51	SINGY
ARW	+ 0.51	LUV
MESA	+ 0.31	ATSG

High negative correlations

LTM	- 0.81	LUV
ATSG	- 0.73	LUV
ANY	- 0.71	ATSG
LTM	- 0.67	ANY
MESA	- 0.54	ANY
ARW	- 0.5	LTM

Risk-Adjusted Indicators

There is a big difference between Globavend Stock performing well and Globavend Holdings 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 Globavend Holdings' 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
SINGY	0.60	0.09	0.14	(1.45)	0.56	(0.74)	1.62	(1.18)	3.93
LUV	1.13	(0.09)	0.00	1.59	0.00	0.00	1.99	(2.61)	7.88
ATSG	0.17	0.02	0.07	0.47	0.23	(0.20)	0.40	(0.27)	2.49
ANY	4.30	(1.02)	0.00	2.41	0.00	0.00	9.35	(7.69)	27.40
LTM	1.12	0.22	0.15	2.73	1.34	(1.16)	2.35	(2.74)	7.85
ARW	1.10	(0.06)	0.00	(0.17)	0.00	0.00	2.03	(2.50)	6.99
MESA	3.16	0.53	0.14	1.31	3.17	(4.25)	9.82	(6.40)	23.87

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