Sharplink Gaming Correlations

SBET Stock

USD 0.26 0.02 7.14%

The current 90-days correlation between Sharplink Gaming and Canterbury Park Holding is -0.14 (i.e., Good diversification). The correlation of Sharplink Gaming 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.

Check out World Market Map to better understand how to build diversified portfolios, which includes a position in Sharplink Gaming. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in income.

For more information on how to buy Sharplink Stock please use our How to Invest in Sharplink Gaming guide.

Moving together with Sharplink Stock

0.81	H	Hyatt Hotels	Pair Corr
0.62	BH	Biglari Holdings	Pair Corr
0.64	SG	Sweetgreen	Pair Corr
0.63	WH	Wyndham Hotels Resorts	Pair Corr
0.82	WW	WW International	Pair Corr
0.85	DNUT	Krispy Kreme	Pair Corr
0.7	WING	Wingstop	Pair Corr
0.61	FLUT	Flutter Entertainment plc	Pair Corr
0.61	BYD	Boyd Gaming	Pair Corr
0.68	CCL	Carnival	Pair Corr
0.62	CHH	Choice Hotels Intern	Pair Corr
0.8	CMG	Chipotle Mexican Grill	Pair Corr
0.67	CUK	Carnival Plc ADS Earnings Call This Week	Pair Corr
0.67	CZR	Caesars Entertainment	Pair Corr
0.8	FUN	Six Flags Entertainment	Pair Corr
0.72	FTDR	Frontdoor	Pair Corr
0.65	IHG	InterContinental Hotels	Pair Corr

Moving against Sharplink Stock

0.67	EJH	E Home Household	Pair Corr
0.65	AGS	PlayAGS	Pair Corr
0.56	EM	Smart Share Global	Pair Corr
0.55	DRI	Darden Restaurants	Pair Corr
0.33	DPZ	Dominos Pizza Common	Pair Corr
0.58	MCD	McDonalds Sell-off Trend	Pair Corr
0.51	LTH	Life Time Group	Pair Corr
0.48	QSR	Restaurant Brands	Pair Corr

Related Correlations Analysis

	CPHC	INSE	ACEL	GAMB	PMKRF	AGS	LNW	EVRI	IGT	CDRO
CPHC		0.58	0.58	0.56	0.0	-0.29	0.08	0.32	0.62	-0.09	CPHC
INSE	0.58		0.91	0.78	0.0	0.38	0.41	0.79	0.59	0.51	INSE
ACEL	0.58	0.91		0.86	0.0	0.18	0.12	0.58	0.42	0.32	ACEL
GAMB	0.56	0.78	0.86		0.0	0.06	0.01	0.46	0.38	0.08	GAMB
PMKRF	0.0	0.0	0.0	0.0		0.0	0.0	0.0	0.0	0.0	PMKRF
AGS	-0.29	0.38	0.18	0.06	0.0		0.56	0.62	0.0	0.61	AGS
LNW	0.08	0.41	0.12	0.01	0.0	0.56		0.64	0.58	0.74	LNW
EVRI	0.32	0.79	0.58	0.46	0.0	0.62	0.64		0.61	0.71	EVRI
IGT	0.62	0.59	0.42	0.38	0.0	0.0	0.58	0.61		0.38	IGT
CDRO	-0.09	0.51	0.32	0.08	0.0	0.61	0.74	0.71	0.38		CDRO
	CPHC	INSE	ACEL	GAMB	PMKRF	AGS	LNW	EVRI	IGT	CDRO

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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

ACEL	+ 0.91	INSE
GAMB	+ 0.86	ACEL
EVRI	+ 0.79	INSE
GAMB	+ 0.78	INSE
CDRO	+ 0.74	LNW
CDRO	+ 0.71	EVRI

High negative correlations

AGS	- 0.29	CPHC
CDRO	- 0.09	CPHC
IGT	- 0.0	AGS
CDRO	- 0.0	PMKRF
IGT	- 0.0	PMKRF
EVRI	- 0.0	PMKRF

Risk-Adjusted Indicators

There is a big difference between Sharplink Stock performing well and Sharplink Gaming 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 Sharplink Gaming'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
CPHC	1.39	(0.20)	0.00	(1.40)	0.00	0.00	2.72	(2.85)	9.22
INSE	2.37	(0.25)	0.00	(0.75)	0.00	0.00	5.02	(6.41)	20.16
ACEL	1.47	(0.09)	0.00	(0.70)	0.00	0.00	2.90	(3.22)	12.11
GAMB	2.37	(0.04)	0.00	(0.21)	0.00	0.00	5.31	(5.39)	16.02
PMKRF	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
AGS	0.24	0.05	0.61	0.23	0.22	(0.31)	0.50	(0.50)	2.79
LNW	2.03	0.16	0.00	(0.07)	0.00	0.00	4.64	(5.02)	21.38
EVRI	0.20	(0.01)	0.00	(0.25)	0.00	0.00	0.44	(0.51)	1.92
IGT	1.42	(0.08)	0.00	(0.27)	0.00	0.00	2.92	(2.52)	11.64
CDRO	2.26	0.05	0.06	0.01	2.80	(2.58)	4.59	(4.55)	22.55

Sharplink Gaming Corporate Management

Robert CPA	Chief Officer	Profile
David Abbott	Chief Officer	Profile
Tom Masterman	Vice Revenue	Profile
Dave Abbott	Chief Officer	Profile
Dodi Handy	Director Communications	Profile
Robert Phythian	President, CoFounder	Profile

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