Gambling Correlations

GAMB Stock

USD 11.02 0.07 0.63%

The current 90-days correlation between Gambling Group and Codere Online Corp is 0.3 (i.e., Weak diversification). The correlation of Gambling 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.

Gambling Correlation With Market

Weak diversification

The correlation between Gambling Group and DJI is 0.39 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Gambling Group and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Gambling Stock

Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in Gambling Group. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in population.

Moving together with Gambling Stock

0.72	AEO	American Eagle Outfitters Sell-off Trend	Pair Corr
0.7	TOY	Toys R ANZ	Pair Corr

Moving against Gambling Stock

0.66	FL	Foot Locker	Pair Corr
0.56	BKE	Buckle Inc	Pair Corr
0.5	RRR	Red Rock Resorts	Pair Corr
0.44	ANF	Abercrombie Fitch	Pair Corr
0.42	EPSM	Epsium Enterprise	Pair Corr
0.37	FOSL	Fossil Group	Pair Corr
0.36	VUZI	Vuzix Corp Cmn	Pair Corr
0.32	RL	Ralph Lauren Corp	Pair Corr
0.55	URBN	Urban Outfitters	Pair Corr
0.54	GRPN	Groupon	Pair Corr
0.5	UAA	Under Armour A	Pair Corr
0.49	GPRO	GoPro Inc	Pair Corr
0.34	SCVL	Shoe Carnival	Pair Corr
0.56	INBX	Inhibrx Biosciences,	Pair Corr
0.44	JPM	JPMorgan Chase Sell-off Trend	Pair Corr
0.43	LTRY	Lottery, Common Stock	Pair Corr
0.42	LNDNF	Lundin Energy AB	Pair Corr
0.4	OLI	Olivers Real Food Earnings Call This Week	Pair Corr
0.32	GITS	Global Interactive Symbol Change	Pair Corr

Related Correlations Analysis

	CDRO	ACEL	AGS	CPHC	LNW	EVRI	INSE	IGT	PMKRF
CDRO		0.74	0.52	0.49	0.68	0.49	0.66	0.41	0.0	CDRO
ACEL	0.74		0.81	0.6	0.67	0.66	0.83	0.33	0.0	ACEL
AGS	0.52	0.81		0.7	0.6	0.85	0.68	0.07	0.0	AGS
CPHC	0.49	0.6	0.7		0.63	0.6	0.45	0.03	0.0	CPHC
LNW	0.68	0.67	0.6	0.63		0.58	0.68	0.29	0.0	LNW
EVRI	0.49	0.66	0.85	0.6	0.58		0.6	0.04	0.0	EVRI
INSE	0.66	0.83	0.68	0.45	0.68	0.6		0.62	0.0	INSE
IGT	0.41	0.33	0.07	0.03	0.29	0.04	0.62		0.0	IGT
PMKRF	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0		PMKRF
	CDRO	ACEL	AGS	CPHC	LNW	EVRI	INSE	IGT	PMKRF

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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

EVRI	+ 0.85	AGS
INSE	+ 0.83	ACEL
AGS	+ 0.81	ACEL
ACEL	+ 0.74	CDRO
CPHC	+ 0.7	AGS
LNW	+ 0.68	CDRO

High negative correlations

PMKRF	- 0.0	IGT
PMKRF	- 0.0	INSE
PMKRF	- 0.0	EVRI
PMKRF	- 0.0	LNW
PMKRF	- 0.0	CPHC
PMKRF	- 0.0	AGS

Risk-Adjusted Indicators

There is a big difference between Gambling Stock performing well and Gambling 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 Gambling'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
CDRO	1.40	0.18	0.08	0.35	1.36	(1.54)	3.82	(2.80)	12.01
ACEL	1.20	0.10	0.02	0.29	1.57	(1.28)	2.63	(2.13)	9.76
AGS	0.23	0.03	(0.23)	1.49	0.29	(0.25)	0.49	(0.50)	1.85
CPHC	1.07	0.10	(0.03)	(1.70)	1.25	(1.52)	2.25	(2.19)	12.83
LNW	2.05	0.20	0.06	0.35	3.19	(2.16)	4.88	(5.01)	17.91
EVRI	0.22	0.06	(0.16)	26.32	0.23	(0.28)	0.73	(0.36)	2.10
INSE	2.03	0.21	0.10	0.30	2.07	(2.18)	4.42	(3.64)	9.87
IGT	1.70	0.30	0.08	0.87	2.22	(1.81)	3.31	(3.39)	19.97
PMKRF	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00

Gambling Corporate Management

Max Bichsel	Executive America	Profile
Ellen Monaghan	Senior People	Profile
Peter McGough	Vice Relations	Profile
Derek Brookmeyer	Director Communications	Profile
Charles Gillespie	CEO CoFounder	Profile
Kevin McCrystle	CoFounder COO	Profile

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