Grom Social Correlations
| GROM Stock | USD 0.54 0.02 4.36% |
The correlation of Grom Social 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 perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Grom Social moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Grom Social Enterprises moves in either direction, the perfectly negatively correlated security will move in the opposite direction. If the correlation is 0, the equities are not correlated; they are entirely random. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.
Average diversification
The correlation between Grom Social Enterprises and NYA is 0.18 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Grom Social Enterprises and NYA in the same portfolio, assuming nothing else is changed.
Grom |
The ability to find closely correlated positions to Grom Social could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Grom Social when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back Grom Social - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling Grom Social Enterprises to buy it.
Moving together with Grom Stock
| 0.61 | ZH | Zhihu Inc ADR | PairCorr |
| 0.73 | CCG | Cheche Group Report 25th of September 2024 | PairCorr |
| 0.75 | GETY | Getty Images Holdings Financial Report 9th of May 2024 | PairCorr |
Moving against Grom Stock
| 0.62 | DOYU | DouYu International Financial Report 16th of May 2024 | PairCorr |
| 0.5 | TME | Tencent Music Entert Financial Report 21st of May 2024 | PairCorr |
| 0.47 | OB | Outbrain Financial Report 14th of May 2024 | PairCorr |
| 0.45 | YY | YY Inc Class Financial Report 4th of June 2024 | PairCorr |
| 0.68 | IZEA | IZEA Inc Financial Report 20th of May 2024 | PairCorr |
Related Correlations Analysis
| Click cells to compare fundamentals | Check Volatility | Backtest Portfolio |
Risk-Adjusted Indicators
There is a big difference between Grom Stock performing well and Grom Social 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 Grom Social'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| DBGI | 7.08 | 0.61 | 0.13 | 0.19 | 6.42 | 9.45 | 164.66 | |||
| PALT | 4.95 | (0.39) | 0.00 | (0.91) | 0.00 | 13.01 | 49.90 | |||
| DATS | 3.78 | 0.33 | 0.05 | 0.77 | 5.01 | 6.67 | 28.16 | |||
| ENSC | 3.59 | (1.39) | 0.00 | (2.37) | 0.00 | 5.33 | 32.11 |
Be your own money manager
Our tools can tell you how much better you can do entering a position in Grom Social without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.Did you try this?
Run Global Correlations Now
Global CorrelationsFind global opportunities by holding instruments from different markets |
| All Next | Launch Module |
Grom Social Corporate Executives
Elected by the shareholders, the Grom Social's board of directors comprises two types of representatives: Grom Social inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Grom. The board's role is to monitor Grom Social's management team and ensure that shareholders' interests are well served. Grom Social's inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, Grom Social's outside directors are responsible for providing unbiased perspectives on the board's policies.
| Jason Williams | Secretary CFO | Profile |
Already Invested in Grom Social Enterprises?
The danger of trading Grom Social Enterprises is mainly related to its market volatility and Company specific events. As an investor, you must understand the concept of risk-adjusted return before you start trading. The most common way to measure the risk of Grom Social is by using the Sharpe ratio. The ratio expresses how much excess return you acquire for the extra volatility you endure for holding a more risker asset than Grom Social. The Sharpe ratio is calculated by using standard deviation and excess return to determine reward per unit of risk. To understand how volatile Grom Social Enterprises is, you must compare it to a benchmark. Traditionally, the risk-free rate of return is the rate of return on the shortest-dated U.S. Treasury, such as a 3-year bond.
When determining whether Grom Social Enterprises is a strong investment it is important to analyze Grom Social's competitive position within its industry, examining market share, product or service uniqueness, and competitive advantages. Beyond financials and market position, potential investors should also consider broader economic conditions, industry trends, and any regulatory or geopolitical factors that may impact Grom Social's future performance. For an informed investment choice regarding Grom Stock, refer to the following important reports: Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in Grom Social Enterprises. Also, note that the market value of any company could be tightly coupled with the direction of predictive economic indicators such as signals in persons. You can also try the Portfolio Comparator module to compare the composition, asset allocations and performance of any two portfolios in your account.
Complementary Tools for Grom Stock analysis
When running Grom Social's price analysis, check to measure Grom Social's market volatility, profitability, liquidity, solvency, efficiency, growth potential, financial leverage, and other vital indicators. We have many different tools that can be utilized to determine how healthy Grom Social is operating at the current time. Most of Grom Social's value examination focuses on studying past and present price action to predict the probability of Grom Social's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Grom Social's price. Additionally, you may evaluate how the addition of Grom Social to your portfolios can decrease your overall portfolio volatility.
| Sign In To Macroaxis Sign in to explore Macroaxis' wealth optimization platform and fintech modules | |
| Equity Search Search for actively traded equities including funds and ETFs from over 30 global markets | |
| Portfolio Analyzer Portfolio analysis module that provides access to portfolio diagnostics and optimization engine | |
| CEOs Directory Screen CEOs from public companies around the world | |
| Piotroski F Score Get Piotroski F Score based on the binary analysis strategy of nine different fundamentals | |
| Commodity Directory Find actively traded commodities issued by global exchanges | |
| Cryptocurrency Center Build and monitor diversified portfolio of extremely risky digital assets and cryptocurrency | |
| Portfolio File Import Quickly import all of your third-party portfolios from your local drive in csv format |
Is Grom Social's industry expected to grow? Or is there an opportunity to expand the business' product line in the future? Factors like these will boost the valuation of Grom Social. If investors know Grom will grow in the future, the company's valuation will be higher. The financial industry is built on trying to define current growth potential and future valuation accurately. All the valuation information about Grom Social listed above have to be considered, but the key to understanding future value is determining which factors weigh more heavily than others.
Earnings Share (15.54) | Revenue Per Share 4.731 | Quarterly Revenue Growth (0.42) | Return On Assets (0.25) | Return On Equity (0.85) |
The market value of Grom Social Enterprises is measured differently than its book value, which is the value of Grom that is recorded on the company's balance sheet. Investors also form their own opinion of Grom Social's value that differs from its market value or its book value, called intrinsic value, which is Grom Social's true underlying value. Investors use various methods to calculate intrinsic value and buy a stock when its market value falls below its intrinsic value. Because Grom Social's market value can be influenced by many factors that don't directly affect Grom Social's underlying business (such as a pandemic or basic market pessimism), market value can vary widely from intrinsic value.
Please note, there is a significant difference between Grom Social's value and its price as these two are different measures arrived at by different means. Investors typically determine if Grom Social is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Grom Social's price is the amount at which it trades on the open market and represents the number that a seller and buyer find agreeable to each party.