Gravity Correlations

GRVY Stock

USD 65.61 2.69 3.94%

The current 90-days correlation between Gravity and SohuCom is 0.3 (i.e., Weak diversification). The correlation of Gravity 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. If the correlation is 0, the equities are not correlated; they are entirely random.

Gravity Correlation With Market

Average diversification

The correlation between Gravity Co and DJI is 0.17 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Gravity Co 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 Gravity Co. 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 together with Gravity Stock

0.75	EA	Electronic Arts	Pair Corr
0.72	TTWO	Take Two Interactive	Pair Corr
0.76	EB	Eventbrite Class A	Pair Corr

Moving against Gravity Stock

0.39	NTES	NetEase	Pair Corr
0.57	SOHU	SohuCom	Pair Corr
0.41	TRUG	Trugolf Symbol Change	Pair Corr
0.65	TU	Telus Corp Sell-off Trend	Pair Corr
0.64	TC	TuanChe ADR Earnings Call This Week	Pair Corr
0.61	VZ	Verizon Communications Aggressive Push	Pair Corr
0.57	YQ	17 Education Technology	Pair Corr
0.44	YY	YY Inc Class	Pair Corr

Related Correlations Analysis

	NTDOY	RBLX	TTWO	NTDOF	UBSFY	BILI	SOHU	DDI	MYPS
NTDOY		-0.21	-0.13	0.53	0.52	-0.5	0.34	-0.15	0.2	NTDOY
RBLX	-0.21		0.72	-0.05	-0.19	0.13	-0.53	0.44	0.39	RBLX
TTWO	-0.13	0.72		-0.01	0.09	0.15	-0.73	0.67	0.35	TTWO
NTDOF	0.53	-0.05	-0.01		0.34	-0.25	0.19	0.14	0.21	NTDOF
UBSFY	0.52	-0.19	0.09	0.34		-0.66	0.06	-0.18	0.0	UBSFY
BILI	-0.5	0.13	0.15	-0.25	-0.66		0.02	0.53	-0.26	BILI
SOHU	0.34	-0.53	-0.73	0.19	0.06	0.02		-0.31	-0.17	SOHU
DDI	-0.15	0.44	0.67	0.14	-0.18	0.53	-0.31		0.24	DDI
MYPS	0.2	0.39	0.35	0.21	0.0	-0.26	-0.17	0.24		MYPS
	NTDOY	RBLX	TTWO	NTDOF	UBSFY	BILI	SOHU	DDI	MYPS

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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

TTWO	+ 0.72	RBLX
DDI	+ 0.67	TTWO
NTDOF	+ 0.53	NTDOY
DDI	+ 0.53	BILI
UBSFY	+ 0.52	NTDOY
DDI	+ 0.44	RBLX

High negative correlations

SOHU	- 0.73	TTWO
BILI	- 0.66	UBSFY
SOHU	- 0.53	RBLX
BILI	- 0.5	NTDOY
DDI	- 0.31	SOHU
MYPS	- 0.26	BILI

Risk-Adjusted Indicators

There is a big difference between Gravity Stock performing well and Gravity 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 Gravity'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
NTDOY	1.08	(0.01)	0.00	0.14	0.00	0.00	2.67	(1.94)	8.79
RBLX	1.74	0.35	0.14	1.42	1.64	(2.04)	3.47	(2.80)	22.69
TTWO	0.96	0.24	0.13	0.57	1.17	(1.02)	2.73	(2.13)	8.24
NTDOF	2.29	0.12	(0.02)	(0.05)	2.83	(2.34)	4.69	(4.67)	14.93
UBSFY	2.79	(0.19)	0.00	0.25	0.00	0.00	4.58	(7.52)	34.80
BILI	4.12	0.49	0.10	0.45	4.74	(4.49)	14.33	(7.56)	29.95
SOHU	1.81	(0.30)	0.00	(0.36)	0.00	0.00	3.86	(5.21)	13.26
DDI	2.58	0.24	0.09	0.26	2.94	(2.79)	6.38	(4.51)	22.06
MYPS	2.27	0.01	0.02	0.10	2.73	(2.76)	5.00	(5.00)	13.54

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