Global Engine Correlations

GLE Stock

0.59 0.02 3.28%

The current 90-days correlation between Global Engine Group and ARB IOT Group is 0.03 (i.e., Significant diversification). The correlation of Global Engine 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 Engine Correlation With Market

Significant diversification

The correlation between Global Engine Group and DJI is 0.07 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Global Engine Group 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 Engine 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 inflation.

Moving against Global Stock

0.62	002184	Shanghai HiTech Control	Pair Corr
0.53	FDM	FDM Group Holdings	Pair Corr
0.47	MINDTECK	Mindteck Limited Earnings Call This Week	Pair Corr
0.41	DM	Datametrex AI	Pair Corr
0.38	MI	NFT Limited	Pair Corr
0.34	DUG	DUG Technology	Pair Corr
0.43	LTIM	LTIMindtree Limited	Pair Corr
0.42	300598	ArcherMind Technology	Pair Corr
0.41	ACN	Accenture plc	Pair Corr
0.59	CGO	CPT Global	Pair Corr
0.45	IBM	International Business	Pair Corr
0.42	IBM	International Business	Pair Corr
0.4	WYY	Widepoint C Earnings Call This Week	Pair Corr
0.38	002373	China TransInfo Tech	Pair Corr
0.34	AAATECH	AAA Technologies Earnings Call This Week	Pair Corr
0.31	300419	Beijing InterAct Tec	Pair Corr

Related Correlations Analysis

	ARBB	AMOD	ELSE	NVNI	TAIT	MTEK	SOPA	AMST	AIXI	KNW
ARBB		0.21	0.37	0.44	0.35	0.08	0.21	0.36	-0.24	-0.63	ARBB
AMOD	0.21		0.17	0.43	0.21	0.22	-0.1	0.17	0.3	-0.16	AMOD
ELSE	0.37	0.17		0.35	0.34	0.29	0.02	0.02	-0.06	-0.44	ELSE
NVNI	0.44	0.43	0.35		0.06	0.68	-0.55	-0.23	0.44	-0.05	NVNI
TAIT	0.35	0.21	0.34	0.06		0.13	0.23	0.5	-0.12	-0.73	TAIT
MTEK	0.08	0.22	0.29	0.68	0.13		-0.59	-0.32	0.74	0.13	MTEK
SOPA	0.21	-0.1	0.02	-0.55	0.23	-0.59		0.6	-0.6	-0.41	SOPA
AMST	0.36	0.17	0.02	-0.23	0.5	-0.32	0.6		-0.44	-0.72	AMST
AIXI	-0.24	0.3	-0.06	0.44	-0.12	0.74	-0.6	-0.44		0.52	AIXI
KNW	-0.63	-0.16	-0.44	-0.05	-0.73	0.13	-0.41	-0.72	0.52		KNW
	ARBB	AMOD	ELSE	NVNI	TAIT	MTEK	SOPA	AMST	AIXI	KNW

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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

AIXI	+ 0.74	MTEK
MTEK	+ 0.68	NVNI
AMST	+ 0.6	SOPA
KNW	+ 0.52	AIXI
AMST	+ 0.5	TAIT
NVNI	+ 0.44	ARBB

High negative correlations

KNW	- 0.73	TAIT
KNW	- 0.72	AMST
KNW	- 0.63	ARBB
AIXI	- 0.6	SOPA
SOPA	- 0.59	MTEK
SOPA	- 0.55	NVNI

Risk-Adjusted Indicators

There is a big difference between Global Stock performing well and Global Engine 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 Engine'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
ARBB	6.43	0.85	0.09	(1.20)	7.08	(7.83)	19.67	(14.35)	82.13
AMOD	3.49	(0.14)	0.00	(0.01)	0.00	0.00	9.26	(5.77)	25.02
ELSE	1.47	0.26	0.07	(0.38)	1.49	(1.69)	3.38	(2.89)	10.59
NVNI	8.41	0.14	0.00	(0.39)	12.78	(9.69)	18.83	(11.33)	114.97
TAIT	3.21	0.33	0.07	0.48	4.09	(4.64)	6.27	(5.38)	85.87
MTEK	5.09	(0.50)	0.00	(0.64)	0.00	0.00	10.36	(10.14)	72.40
SOPA	11.69	3.16	0.41	2.79	6.48	(17.42)	21.55	(13.77)	293.36
AMST	3.56	0.41	0.06	(0.18)	3.35	(4.81)	5.54	(5.35)	52.86
AIXI	4.92	(0.54)	0.00	0.31	0.00	0.00	12.77	(10.28)	45.51
KNW	6.50	(1.54)	0.00	(1.97)	0.00	0.00	13.51	(14.94)	37.69

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