Element Global Correlations

ELGL Stock

USD 0.0001 0.00 0.00%

The current 90-days correlation between Element Global and Reliance Steel Aluminum is -0.07 (i.e., Good diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Element Global moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Element Global moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Element Global Correlation With Market

Good diversification

The correlation between Element Global and DJI is -0.01 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Element Global and DJI in the same portfolio, assuming nothing else is changed.

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Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in Element Global. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in price.

For more information on how to buy Element Stock please use our How to buy in Element Stock guide.

Moving against Element Stock

0.45	CP	Canadian Pacific Railway	Pair Corr
0.39	AP	Ampco Pittsburgh	Pair Corr
0.38	AL	Air Lease	Pair Corr
0.38	AZ	A2Z Smart Technologies	Pair Corr
0.38	BV	BrightView Holdings	Pair Corr
0.37	TOYO	TOYO Co,	Pair Corr
0.36	CW	Curtiss Wright	Pair Corr
0.35	MVST	Microvast Holdings Buyout Trend	Pair Corr
0.34	R	Ryder System Earnings Call This Week	Pair Corr
0.33	HON	Honeywell International Earnings Call This Week	Pair Corr
0.33	VMI	Valmont Industries Earnings Call This Week	Pair Corr
0.33	BW	Babcock Wilcox Enter	Pair Corr
0.32	BBU	Brookfield Business	Pair Corr
0.32	CR	Crane Company	Pair Corr
0.42	DE	Deere Company	Pair Corr
0.41	FA	First Advantage Corp	Pair Corr
0.39	TT	Trane Technologies plc	Pair Corr
0.37	LZ	LegalZoom	Pair Corr
0.37	DLHC	DLH Holdings Corp	Pair Corr
0.34	DY	Dycom Industries	Pair Corr
0.34	IR	Ingersoll Rand	Pair Corr
0.33	GE	GE Aerospace Earnings Call This Week	Pair Corr
0.32	PH	Parker Hannifin	Pair Corr
0.32	SB	Safe Bulkers Earnings Call This Week	Pair Corr

Related Correlations Analysis

	RS	CECO	SPNS	CXM	CDNS	BLSFY	SECVY	UBER
RS		0.9	0.9	0.86	0.7	0.69	0.71	0.84	RS
CECO	0.9		0.83	0.84	0.79	0.72	0.83	0.86	CECO
SPNS	0.9	0.83		0.91	0.68	0.65	0.74	0.8	SPNS
CXM	0.86	0.84	0.91		0.73	0.76	0.79	0.83	CXM
CDNS	0.7	0.79	0.68	0.73		0.8	0.71	0.87	CDNS
BLSFY	0.69	0.72	0.65	0.76	0.8		0.68	0.75	BLSFY
SECVY	0.71	0.83	0.74	0.79	0.71	0.68		0.75	SECVY
UBER	0.84	0.86	0.8	0.83	0.87	0.75	0.75		UBER
	RS	CECO	SPNS	CXM	CDNS	BLSFY	SECVY	UBER

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Risk-Adjusted Indicators

There is a big difference between Element Stock performing well and Element Global 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 Element Global'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
RS	0.96	0.19	0.15	0.37	0.71	(1.05)	2.74	(1.56)	4.95
CECO	2.36	0.50	0.24	0.43	1.94	(2.86)	5.59	(3.76)	20.71
SPNS	1.09	0.11	0.06	0.28	1.03	(1.24)	2.70	(2.12)	6.25
CXM	1.79	0.20	0.10	0.29	1.86	(1.99)	4.14	(3.10)	11.61
CDNS	1.34	0.37	0.08	(1.23)	2.03	(1.42)	2.82	(1.99)	16.83
BLSFY	1.49	0.30	0.06	2.34	1.43	(3.21)	5.13	(4.00)	14.70
SECVY	0.90	0.52	0.00	(0.77)	0.00	0.00	0.00	0.00	30.09
UBER	1.64	0.20	0.13	0.33	1.40	(2.08)	4.19	(2.54)	10.87

Element Global Corporate Management

Kara Craig	Secretary	Profile
Steven Gagnon	CoCEO COO	Profile
Tony Najjar	Chief Operations Officer and President of Commodities Division	Profile
John LaViolette	CoCEO Director	Profile

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