Greenlight Capital Correlations

GLRE Stock  USD 13.74  0.17  1.22%   
The current 90-days correlation between Greenlight Capital and Allient is 0.3 (i.e., Weak diversification). The correlation of Greenlight Capital 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.

Greenlight Capital Correlation With Market

Very weak diversification

The correlation between Greenlight Capital Re and DJI is 0.54 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Greenlight Capital Re and DJI in the same portfolio, assuming nothing else is changed.
Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in Greenlight Capital Re. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in metropolitan statistical area.

Moving together with Greenlight Stock

  0.78HG Hamilton Insurance Group,PairCorr
  0.81SPNT-PB SiriusPointPairCorr
  0.83AHL-PD Aspen Insurance HoldingsPairCorr
  0.83AHL-PE Aspen Insurance HoldingsPairCorr
  0.62RNR-PG RenaissanceRe HoldingsPairCorr
  0.62RNR-PF RenaissanceRe HoldingsPairCorr
  0.74SPNT SiriuspointPairCorr
  0.75C Citigroup Earnings Call This WeekPairCorr
  0.65V Visa Class APairCorr
  0.63DHIL Diamond Hill InvestmentPairCorr
  0.62DIST Distoken AcquisitionPairCorr
  0.61AB AllianceBernsteinPairCorr
  0.75AC Associated CapitalPairCorr
  0.67AX Axos FinancialPairCorr
  0.77BK Bank of New York Earnings Call This WeekPairCorr
  0.7BN Brookfield CorpPairCorr
  0.71CG Carlyle Group Normal TradingPairCorr
  0.79CM Canadian Imperial BankPairCorr
  0.76DB Deutsche Bank AGPairCorr
  0.75GS Goldman Sachs Group Earnings Call This WeekPairCorr
  0.83IX Orix Corp AdsPairCorr
  0.85KB KB Financial GroupPairCorr

Moving against Greenlight Stock

  0.5FG FG Annuities LifePairCorr
  0.45OXBRW Oxbridge Re HoldingsPairCorr
  0.72WU Western UnionPairCorr
  0.67PT Pintec TechnologyPairCorr
  0.56WD Walker DunlopPairCorr
  0.53PX P10 IncPairCorr
  0.39RM Regional Management Corp Normal TradingPairCorr

Related Correlations Analysis

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

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   
TVPLAY
PLAYALNT
TVALNT
PLAYJUTOY
NTGRALNT
TVJUTOY
  
High negative correlations   
PLAYUPLD
TVUPLD
ALNTUPLD
UPLDJUTOY
PLAYCMND
TVCMND

Risk-Adjusted Indicators

There is a big difference between Greenlight Stock performing well and Greenlight Capital 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 Greenlight Capital'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.

Greenlight Capital Corporate Management

Jim EhmanHead IslandsProfile
Regan CairnsChief IslandsProfile
Adam PriorIR Contact OfficerProfile
Steven ArchambaultChief OfficerProfile
Thomas CurnockChief OfficerProfile
Sherry DiazControllerProfile