Correlation Between Gitlab and Uipath

Can any of the company-specific risk be diversified away by investing in both Gitlab and Uipath at the same time? Although using a correlation coefficient on its own may not help to predict future stock returns, this module helps to understand the diversifiable risk of combining Gitlab and Uipath into the same portfolio, which is an essential part of the fundamental portfolio management process.

By analyzing existing cross correlation between Gitlab Inc and Uipath Inc, you can compare the effects of market volatilities on Gitlab and Uipath and check how they will diversify away market risk if combined in the same portfolio for a given time horizon. You can also utilize pair trading strategies of matching a long position in Gitlab with a short position of Uipath. Check out your portfolio center. Please also check ongoing floating volatility patterns of Gitlab and Uipath.

Diversification Opportunities for Gitlab and Uipath

0.47

Correlation Coefficient

Gitlab  Uipath

Very weak diversification

The 3 months correlation between Gitlab and Uipath is 0.47. Overlapping area represents the amount of risk that can be diversified away by holding Gitlab Inc and Uipath Inc in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Uipath Inc and Gitlab is a relative statistical measure of the degree to which these equity instruments tend to move together. The correlation coefficient measures the extent to which returns on Gitlab Inc are associated (or correlated) with Uipath. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Uipath Inc has no effect on the direction of Gitlab i.e., Gitlab and Uipath go up and down completely randomly.

Pair Corralation between Gitlab and Uipath

Given the investment horizon of 90 days Gitlab is expected to generate 1.63 times less return on investment than Uipath. In addition to that, Gitlab is 1.46 times more volatile than Uipath Inc. It trades about 0.05 of its total potential returns per unit of risk. Uipath Inc is currently generating about 0.13 per unit of volatility. If you would invest  1,087  in Uipath Inc on April 23, 2025 and sell it today you would earn a total of  171.00  from holding Uipath Inc or generate 15.73% return on investment over 90 days.

Time Period	3 Months [change]
Direction	Moves Together
Strength	Weak
Accuracy	100.0%
Values	Daily Returns

Gitlab Inc  vs.  Uipath Inc

Gitlab Inc

Risk-Adjusted Performance

Insignificant

Compared to the overall equity markets, risk-adjusted returns on investments in Gitlab Inc are ranked lower than 4 (%) of all global equities and portfolios over the last 90 days. Despite somewhat weak essential indicators, Gitlab may actually be approaching a critical reversion point that can send shares even higher in August 2025.

Uipath Inc

Risk-Adjusted Performance

OK

Compared to the overall equity markets, risk-adjusted returns on investments in Uipath Inc are ranked lower than 9 (%) of all global equities and portfolios over the last 90 days. Despite fairly abnormal basic indicators, Uipath demonstrated solid returns over the last few months and may actually be approaching a breakup point.

Pair Trading with Gitlab and Uipath

The main advantage of trading using opposite Gitlab and Uipath positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Gitlab position performs unexpectedly, Uipath can make up some of the losses. Pair trading also minimizes risk from directional movements in the market. For example, if an entire industry or sector drops because of unexpected headlines, the short position in Uipath will offset losses from the drop in Uipath's long position.

The idea behind Gitlab Inc and Uipath Inc pairs trading is to make the combined position market-neutral, meaning the overall market's direction will not affect its win or loss (or potential downside or upside). This can be achieved by designing a pairs trade with two highly correlated stocks or equities that operate in a similar space or sector, making it possible to obtain profits through simple and relatively low-risk investment.

Check out your portfolio center.

Note that this page's information should be used as a complementary analysis to find the right mix of equity instruments to add to your existing portfolios or create a brand new portfolio. You can also try the Portfolio Diagnostics module to use generated alerts and portfolio events aggregator to diagnose current holdings.