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.

Build AI portfolio with Greenlight Stock

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

0.78	HG	Hamilton Insurance Group,	Pair Corr
0.81	SPNT-PB	SiriusPoint	Pair Corr
0.83	AHL-PD	Aspen Insurance Holdings	Pair Corr
0.83	AHL-PE	Aspen Insurance Holdings	Pair Corr
0.62	RNR-PG	RenaissanceRe Holdings	Pair Corr
0.62	RNR-PF	RenaissanceRe Holdings	Pair Corr
0.74	SPNT	Siriuspoint	Pair Corr
0.75	C	Citigroup Earnings Call This Week	Pair Corr
0.65	V	Visa Class A	Pair Corr
0.63	DHIL	Diamond Hill Investment	Pair Corr
0.62	DIST	Distoken Acquisition	Pair Corr
0.61	AB	AllianceBernstein	Pair Corr
0.75	AC	Associated Capital	Pair Corr
0.67	AX	Axos Financial	Pair Corr
0.77	BK	Bank of New York Earnings Call This Week	Pair Corr
0.7	BN	Brookfield Corp	Pair Corr
0.71	CG	Carlyle Group Normal Trading	Pair Corr
0.79	CM	Canadian Imperial Bank	Pair Corr
0.76	DB	Deutsche Bank AG	Pair Corr
0.75	GS	Goldman Sachs Group Earnings Call This Week	Pair Corr
0.83	IX	Orix Corp Ads	Pair Corr
0.85	KB	KB Financial Group	Pair Corr

Moving against Greenlight Stock

0.5	FG	FG Annuities Life	Pair Corr
0.45	OXBRW	Oxbridge Re Holdings	Pair Corr
0.72	WU	Western Union	Pair Corr
0.67	PT	Pintec Technology	Pair Corr
0.56	WD	Walker Dunlop	Pair Corr
0.53	PX	P10 Inc	Pair Corr
0.39	RM	Regional Management Corp Normal Trading	Pair Corr

Related Correlations Analysis

	JUTOY	UPLD	ALNT	CMND	PLAY	TV	NTGR
JUTOY		-0.58	0.59	-0.42	0.82	0.76	0.18	JUTOY
UPLD	-0.58		-0.6	0.61	-0.76	-0.73	-0.31	UPLD
ALNT	0.59	-0.6		-0.47	0.87	0.87	0.8	ALNT
CMND	-0.42	0.61	-0.47		-0.54	-0.5	-0.23	CMND
PLAY	0.82	-0.76	0.87	-0.54		0.94	0.52	PLAY
TV	0.76	-0.73	0.87	-0.5	0.94		0.56	TV
NTGR	0.18	-0.31	0.8	-0.23	0.52	0.56		NTGR
	JUTOY	UPLD	ALNT	CMND	PLAY	TV	NTGR

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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

TV	+ 0.94	PLAY
PLAY	+ 0.87	ALNT
TV	+ 0.87	ALNT
PLAY	+ 0.82	JUTOY
NTGR	+ 0.8	ALNT
TV	+ 0.76	JUTOY

High negative correlations

PLAY	- 0.76	UPLD
TV	- 0.73	UPLD
ALNT	- 0.6	UPLD
UPLD	- 0.58	JUTOY
PLAY	- 0.54	CMND
TV	- 0.5	CMND

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.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
JUTOY	0.66	0.16	0.00	1.64	0.00	0.00	0.00	0.00	23.75
UPLD	3.29	(0.54)	0.00	8.03	0.00	0.00	6.36	(7.26)	34.65
ALNT	2.39	0.80	0.34	0.85	1.78	(2.92)	5.03	(3.08)	24.56
CMND	2.68	0.07	0.01	0.30	3.05	(3.80)	5.05	(5.26)	32.22
PLAY	3.37	0.86	0.26	0.85	2.61	(3.88)	9.24	(5.24)	22.98
TV	2.28	0.40	0.13	0.67	2.43	(2.67)	5.33	(4.27)	13.15
NTGR	2.48	0.25	0.09	0.23	3.10	(3.00)	5.80	(4.12)	22.43

Greenlight Capital Corporate Management

Jim Ehman	Head Islands	Profile
Regan Cairns	Chief Islands	Profile
Adam Prior	IR Contact Officer	Profile
Steven Archambault	Chief Officer	Profile
Thomas Curnock	Chief Officer	Profile
Sherry Diaz	Controller	Profile

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