Element Global Correlations

ELGL Stock

USD 0.0001 0.0009 90.00%

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

Element Global Correlation With Market

Significant diversification

The correlation between Element Global and DJI is 0.02 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Element Global and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Element Stock

Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in Element Global. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in price.

For more information on how to buy Element Stock please use our How to buy in Element Stock guide.

Moving against Element Stock

0.33	BEEM	Beam Global Earnings Call This Week	Pair Corr
0.31	NX	Quanex Building Products	Pair Corr

Related Correlations Analysis

	BOW	IRDM	SPMMF	SPNT	PINS	ATEX	CB
BOW		-0.72	0.0	0.85	-0.79	-0.52	0.68	BOW
IRDM	-0.72		0.0	-0.53	0.89	0.75	-0.27	IRDM
SPMMF	0.0	0.0		0.0	0.0	0.0	0.0	SPMMF
SPNT	0.85	-0.53	0.0		-0.66	-0.54	0.61	SPNT
PINS	-0.79	0.89	0.0	-0.66		0.65	-0.46	PINS
ATEX	-0.52	0.75	0.0	-0.54	0.65		-0.01	ATEX
CB	0.68	-0.27	0.0	0.61	-0.46	-0.01		CB
	BOW	IRDM	SPMMF	SPNT	PINS	ATEX	CB

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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

PINS	+ 0.89	IRDM
SPNT	+ 0.85	BOW
ATEX	+ 0.75	IRDM
CB	+ 0.68	BOW
ATEX	+ 0.65	PINS
CB	+ 0.61	SPNT

High negative correlations

PINS	- 0.79	BOW
IRDM	- 0.72	BOW
PINS	- 0.66	SPNT
ATEX	- 0.54	SPNT
SPNT	- 0.53	IRDM
ATEX	- 0.52	BOW

Risk-Adjusted Indicators

There is a big difference between Element Stock performing well and Element Global 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 Element Global'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
BOW	1.86	0.35	0.16	0.43	2.32	(2.03)	4.11	(3.38)	14.77
IRDM	2.14	0.04	0.00	(0.09)	0.00	0.00	4.57	(5.36)	22.26
SPMMF	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
SPNT	1.73	0.56	0.23	0.57	2.19	(1.86)	3.24	(2.83)	11.84
PINS	2.84	0.09	0.00	(0.07)	0.00	0.00	5.41	(6.46)	31.42
ATEX	2.17	0.18	0.09	0.10	2.25	(3.20)	3.92	(3.81)	34.43
CB	1.11	0.17	0.12	0.19	1.64	(1.07)	2.32	(2.04)	10.13

Element Global Corporate Management

Kara Craig	Secretary	Profile
Steven Gagnon	CoCEO COO	Profile
Tony Najjar	Chief Operations Officer and President of Commodities Division	Profile
John LaViolette	CoCEO Director	Profile

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