Gitlab Correlations

GTLB Stock  USD 46.79  0.31  0.66%   
The current 90-days correlation between Gitlab Inc and MondayCom is 0.05 (i.e., Significant diversification). The correlation of Gitlab 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.

Gitlab Correlation With Market

Very weak diversification

The correlation between Gitlab Inc and DJI is 0.44 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Gitlab Inc 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 Gitlab Inc. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in bureau of economic analysis.

Moving together with Gitlab Stock

  0.81S SentinelOne Sell-off TrendPairCorr
  0.66DOCN DigitalOcean HoldingsPairCorr
  0.72IOT SamsaraPairCorr
  0.61PAY Paymentus Holdings Potential GrowthPairCorr

Moving against Gitlab Stock

  0.33JG Aurora MobilePairCorr

Related Correlations Analysis

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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   
DLOTOST
TOSTDDOG
DLODDOG
CFLTDDOG
DLOMNDY
TOSTMNDY
  
High negative correlations   
GLBEDLO
CFLTASAN
ASANDDOG
TEAMDDOG
DLOTEAM
GLBETOST

Risk-Adjusted Indicators

There is a big difference between Gitlab Stock performing well and Gitlab 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 Gitlab'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.

Gitlab Corporate Management