Global Business Correlations

GBTG Stock

USD 6.34 0.04 0.63%

The current 90-days correlation between Global Business Travel and BioNTech SE is 0.41 (i.e., Very weak diversification). The correlation of Global Business 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.

Global Business Correlation With Market

Poor diversification

The correlation between Global Business Travel and DJI is 0.72 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Global Business Travel and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Global Stock

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

Moving together with Global Stock

0.63	NTRP	NextTrip	Pair Corr
0.67	DQ	Daqo New Energy	Pair Corr
0.73	FI	Fiserv,	Pair Corr
0.87	VIAV	Viavi Solutions	Pair Corr

Moving against Global Stock

0.63	UI	Ubiquiti Networks	Pair Corr
0.61	ANY	Sphere 3D Corp	Pair Corr
0.58	KD	Kyndryl Holdings	Pair Corr
0.55	VEEA	Veea Inc Symbol Change	Pair Corr
0.52	WKEY	Wisekey International	Pair Corr
0.48	PI	Impinj Inc	Pair Corr
0.41	KN	Knowles Cor	Pair Corr
0.38	MU	Micron Technology	Pair Corr
0.35	DIOD	Diodes Incorporated	Pair Corr
0.32	ON	ON Semiconductor	Pair Corr
0.31	MX	MagnaChip Semiconductor	Pair Corr
0.7	FARO	FARO Technologies	Pair Corr
0.5	FEIM	Frequency Electronics	Pair Corr
0.49	ARM	Arm Holdings plc	Pair Corr
0.47	EXTR	Extreme Networks	Pair Corr
0.46	ERIC	Telefonaktiebolaget Aggressive Push	Pair Corr
0.45	ASX	ASE Industrial Holding	Pair Corr
0.41	ADI	Analog Devices	Pair Corr
0.37	AMD	Advanced Micro Devices	Pair Corr
0.35	AMPGW	AmpliTech Group	Pair Corr
0.33	EPAM	EPAM Systems	Pair Corr
0.65	UMC	United Microelectronics	Pair Corr
0.59	NOW	ServiceNow	Pair Corr
0.5	STX	Seagate Technology PLC	Pair Corr
0.48	WDC	Western Digital	Pair Corr

Related Correlations Analysis

	VALN	GPC	TKLF	ACI	ASUR	ADI	LOGC	BNTX
VALN		-0.29	-0.39	0.14	-0.02	-0.57	-0.43	-0.2	VALN
GPC	-0.29		0.84	0.22	0.51	0.76	0.6	0.32	GPC
TKLF	-0.39	0.84		0.23	0.62	0.8	0.47	0.2	TKLF
ACI	0.14	0.22	0.23		0.25	-0.04	0.12	-0.07	ACI
ASUR	-0.02	0.51	0.62	0.25		0.55	0.21	0.27	ASUR
ADI	-0.57	0.76	0.8	-0.04	0.55		0.56	0.37	ADI
LOGC	-0.43	0.6	0.47	0.12	0.21	0.56		0.18	LOGC
BNTX	-0.2	0.32	0.2	-0.07	0.27	0.37	0.18		BNTX
	VALN	GPC	TKLF	ACI	ASUR	ADI	LOGC	BNTX

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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

TKLF	+ 0.84	GPC
ADI	+ 0.8	TKLF
ADI	+ 0.76	GPC
ASUR	+ 0.62	TKLF
LOGC	+ 0.6	GPC
LOGC	+ 0.56	ADI

High negative correlations

ADI	- 0.57	VALN
LOGC	- 0.43	VALN
TKLF	- 0.39	VALN
GPC	- 0.29	VALN
BNTX	- 0.2	VALN
BNTX	- 0.07	ACI

Risk-Adjusted Indicators

There is a big difference between Global Stock performing well and Global Business 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 Global Business' 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
VALN	2.47	(0.37)	0.00	(0.22)	0.00	0.00	4.35	(6.79)	18.89
GPC	1.34	0.01	0.00	0.07	1.67	(1.50)	2.80	(2.28)	10.56
TKLF	1.76	0.15	0.06	0.24	1.87	(2.29)	5.50	(3.78)	13.92
ACI	1.31	0.04	(0.01)	0.41	1.93	(1.28)	2.60	(2.60)	9.71
ASUR	1.88	(0.06)	(0.03)	(0.01)	2.27	(2.14)	3.55	(3.94)	11.91
ADI	2.04	0.13	0.06	0.13	2.88	(2.27)	4.10	(4.63)	27.68
LOGC	2.38	0.04	(0.01)	(0.48)	3.82	(2.29)	5.95	(4.47)	23.38
BNTX	2.70	0.18	0.05	0.25	3.29	(3.53)	6.03	(4.30)	25.06

Global Business Corporate Management

Chris Vliet	Controller	Profile
Barry Sievert	Vice Relations	Profile
David Thompson	Chief Officer	Profile
SiYeon JD	Chief Officer	Profile
Boriana Tchobanova	Senior Officer	Profile
Andrew Crawley	Chief Officer	Profile
Evan Konwiser	Chief Officer	Profile

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