GoPro Correlations

GPRO Stock

USD 0.88 0.10 12.82%

The current 90-days correlation between GoPro Inc and Sonos Inc is -0.16 (i.e., Good diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as GoPro moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if GoPro Inc moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

GoPro Correlation With Market

Weak diversification

The correlation between GoPro Inc and DJI is 0.34 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding GoPro Inc and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with GoPro Stock

Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in GoPro Inc. 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 GoPro Stock

0.74	VUZI	Vuzix Corp Cmn	Pair Corr
0.73	UAA	Under Armour A	Pair Corr
0.73	FL	Foot Locker	Pair Corr
0.81	BKE	Buckle Inc	Pair Corr
0.72	GES	Guess Inc	Pair Corr
0.79	RRR	Red Rock Resorts Earnings Call This Week	Pair Corr
0.86	GRPN	Groupon	Pair Corr
0.65	SCVL	Shoe Carnival	Pair Corr
0.72	URBN	Urban Outfitters	Pair Corr
0.8	NVDA	NVIDIA Aggressive Push	Pair Corr
0.81	MSFT	Microsoft	Pair Corr
0.81	AMZN	Amazon Inc	Pair Corr
0.77	GOOG	Alphabet Class C Earnings Call This Week	Pair Corr
0.84	META	Meta Platforms	Pair Corr
0.81	AVGO	Broadcom Aggressive Push	Pair Corr
0.76	LTRY	Lottery, Common Stock	Pair Corr
0.64	DD	Dupont De Nemours	Pair Corr
0.78	BAC	Bank of America	Pair Corr

Moving against GoPro Stock

0.68	AEO	American Eagle Outfitters	Pair Corr
0.68	PLCE	Childrens Place	Pair Corr
0.64	ROST	Ross Stores	Pair Corr
0.81	MCD	McDonalds	Pair Corr
0.52	VZ	Verizon Communications Earnings Call This Week	Pair Corr
0.52	PG	Procter Gamble	Pair Corr

Related Correlations Analysis

	SONO	LPL	SONY	VUZI	AMBA	UAA	GRPN	YELP	SNAP
SONO		0.78	0.43	0.72	0.84	0.8	0.73	0.47	0.64	SONO
LPL	0.78		0.33	0.73	0.71	0.82	0.89	-0.04	0.51	LPL
SONY	0.43	0.33		0.69	0.1	0.42	0.4	0.38	-0.07	SONY
VUZI	0.72	0.73	0.69		0.49	0.8	0.83	0.39	0.19	VUZI
AMBA	0.84	0.71	0.1	0.49		0.78	0.66	0.22	0.71	AMBA
UAA	0.8	0.82	0.42	0.8	0.78		0.88	0.19	0.49	UAA
GRPN	0.73	0.89	0.4	0.83	0.66	0.88		0.04	0.39	GRPN
YELP	0.47	-0.04	0.38	0.39	0.22	0.19	0.04		0.06	YELP
SNAP	0.64	0.51	-0.07	0.19	0.71	0.49	0.39	0.06		SNAP
	SONO	LPL	SONY	VUZI	AMBA	UAA	GRPN	YELP	SNAP

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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

GRPN	+ 0.89	LPL
GRPN	+ 0.88	UAA
AMBA	+ 0.84	SONO
GRPN	+ 0.83	VUZI
UAA	+ 0.82	LPL
UAA	+ 0.8	SONO

High negative correlations

SNAP	- 0.07	SONY
YELP	- 0.04	LPL

Risk-Adjusted Indicators

There is a big difference between GoPro Stock performing well and GoPro 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 GoPro'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
SONO	2.27	0.48	0.14	(5.59)	2.14	(2.74)	6.00	(2.97)	15.71
LPL	1.46	0.18	0.07	0.34	2.02	(1.64)	3.56	(2.83)	14.24
SONY	1.36	0.14	(0.02)	(0.28)	1.44	(1.65)	2.78	(2.28)	8.40
VUZI	4.54	0.52	0.15	0.37	4.22	(5.33)	12.55	(7.19)	32.84
AMBA	2.55	0.49	0.18	0.40	2.98	(3.20)	6.80	(3.42)	23.83
UAA	2.17	0.23	0.10	0.32	1.99	(2.36)	4.86	(3.39)	17.19
GRPN	2.95	0.86	0.23	1.25	2.61	(3.17)	4.97	(5.11)	47.70
YELP	1.27	(0.02)	(0.07)	0.08	1.53	(1.27)	2.83	(2.15)	12.46
SNAP	2.50	0.15	0.09	0.20	2.92	(2.91)	7.13	(3.49)	16.82

GoPro Corporate Management

Vincent Nakayama	Senior Engineering	Profile
Jalene CPA	VP Relations	Profile
Rick Loughery	Vice Communications	Profile
Charles Lafrades	Chief Officer	Profile
Eve JD	Chief Development	Profile

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