GlobalTech Correlations

GLTK Stock

1.95 0.00 0.00%

The current 90-days correlation between GlobalTech and Ooma Inc is -0.04 (i.e., Good diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as GlobalTech moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if GlobalTech moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

GlobalTech Correlation With Market

Good diversification

The correlation between GlobalTech and DJI is -0.04 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding GlobalTech and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to GlobalTech could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace GlobalTech 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 GlobalTech - 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 GlobalTech to buy it.

Moving against GlobalTech Pink Sheet

0.77	AAPL	Apple Inc Aggressive Push	Pair Corr
0.71	GOOG	Alphabet Class C Aggressive Push	Pair Corr
0.7	BAC	Bank of America Aggressive Push	Pair Corr
0.69	QCOM	Qualcomm Incorporated Earnings Call This Week	Pair Corr
0.68	INTC	Intel Aggressive Push	Pair Corr
0.66	GE	GE Aerospace	Pair Corr
0.64	DD	Dupont De Nemours	Pair Corr
0.63	XOM	Exxon Mobil Corp Earnings Call Today	Pair Corr
0.62	JNJ	Johnson Johnson	Pair Corr
0.61	AVGO	Broadcom Aggressive Push	Pair Corr
0.61	AXP	American Express	Pair Corr
0.59	IBM	International Business Tech Boost	Pair Corr
0.58	TRV	The Travelers Companies	Pair Corr
0.51	CAT	Caterpillar	Pair Corr
0.44	MRK	Merck Company	Pair Corr
0.32	MMM	3M Company	Pair Corr

Related Correlations Analysis

	OOMA	ATNI	CURI	RDCM	NEXN	CXDO	ATEX	AREN	AENT	AMCX
OOMA		0.29	0.2	0.34	0.46	0.64	0.54	0.27	0.33	0.43	OOMA
ATNI	0.29		-0.26	-0.26	0.78	-0.21	0.39	0.57	-0.49	-0.56	ATNI
CURI	0.2	-0.26		0.72	-0.29	0.45	0.13	-0.37	0.75	0.6	CURI
RDCM	0.34	-0.26	0.72		-0.3	0.6	-0.09	-0.42	0.75	0.75	RDCM
NEXN	0.46	0.78	-0.29	-0.3		-0.11	0.56	0.72	-0.46	-0.44	NEXN
CXDO	0.64	-0.21	0.45	0.6	-0.11		0.05	-0.1	0.66	0.77	CXDO
ATEX	0.54	0.39	0.13	-0.09	0.56	0.05		0.45	-0.1	-0.11	ATEX
AREN	0.27	0.57	-0.37	-0.42	0.72	-0.1	0.45		-0.42	-0.45	AREN
AENT	0.33	-0.49	0.75	0.75	-0.46	0.66	-0.1	-0.42		0.84	AENT
AMCX	0.43	-0.56	0.6	0.75	-0.44	0.77	-0.11	-0.45	0.84		AMCX
	OOMA	ATNI	CURI	RDCM	NEXN	CXDO	ATEX	AREN	AENT	AMCX

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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

AMCX	+ 0.84	AENT
NEXN	+ 0.78	ATNI
AMCX	+ 0.77	CXDO
AENT	+ 0.75	CURI
AENT	+ 0.75	RDCM
AMCX	+ 0.75	RDCM

High negative correlations

AMCX	- 0.56	ATNI
AENT	- 0.49	ATNI
AENT	- 0.46	NEXN
AMCX	- 0.45	AREN
AMCX	- 0.44	NEXN
AENT	- 0.42	AREN

Risk-Adjusted Indicators

There is a big difference between GlobalTech Pink Sheet performing well and GlobalTech 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 GlobalTech'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
OOMA	1.57	(0.24)	0.00	(0.03)	0.00	0.00	2.92	(2.90)	11.55
ATNI	2.08	(0.29)	0.00	(0.14)	0.00	0.00	5.34	(4.97)	12.58
CURI	2.83	(0.13)	(0.02)	0.01	3.66	(2.87)	5.76	(5.96)	16.30
RDCM	2.04	(0.12)	(0.04)	0.00	2.43	(2.04)	4.26	(3.56)	11.55
NEXN	2.19	(0.59)	0.00	(0.17)	0.00	0.00	4.60	(4.15)	11.74
CXDO	2.57	0.07	0.05	0.13	2.93	(2.84)	5.45	(3.84)	20.59
ATEX	1.97	(0.29)	0.00	(0.09)	0.00	0.00	3.83	(4.28)	13.08
AREN	3.69	(0.14)	0.00	(0.10)	0.00	0.00	8.18	(6.66)	15.95
AENT	4.24	0.56	0.08	(0.52)	4.42	(5.13)	10.81	(7.06)	33.20
AMCX	2.13	0.22	0.10	0.21	2.51	(2.29)	5.42	(4.69)	15.02

GlobalTech Related Equities

One of the popular trading techniques among algorithmic traders is to use market-neutral strategies where every trade hedges away some risk. Because there are two separate transactions required, even if one position performs unexpectedly, the other equity can make up some of the losses. Below are some of the equities that can be combined with GlobalTech pink sheet to make a market-neutral strategy. Peer analysis of GlobalTech could also be used in its relative valuation, which is a method of valuing GlobalTech by comparing valuation metrics with similar companies.

Ooma Inc ATN International Curiositystream Radcom Nexxen International Crexendo Anterix Arena Group Holdings Alliance Entertainment Holding AMC Networks American Airlines Group Alcoa Corp Apple Inc Best Buy Co Citigroup

Risk & Return

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