Gitlab Correlations

GTLB Stock

USD 38.31 0.44 1.16%

The current 90-days correlation between Gitlab Inc and Nice Ltd ADR is 0.11 (i.e., Average diversification). The correlation of Gitlab 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.

Gitlab Correlation With Market

Average diversification

The correlation between Gitlab Inc and DJI is 0.13 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Gitlab Inc and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Gitlab Stock

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

Moving together with Gitlab Stock

0.85	S	SentinelOne	Pair Corr
0.8	MSFT	Microsoft Sell-off Trend	Pair Corr
0.69	DIS	Walt Disney	Pair Corr
0.75	PG	Procter Gamble	Pair Corr
0.64	CVX	Chevron Corp	Pair Corr

Moving against Gitlab Stock

0.79	MTC	MMTEC Inc Tech Boost	Pair Corr
0.68	AAPL	Apple Inc	Pair Corr
0.65	JBHT	JB Hunt Transport	Pair Corr
0.64	NHIC	NewHold Investment Corp	Pair Corr
0.61	PUTKY	United Tractors Tbk	Pair Corr
0.6	PTAIY	Astra International Tbk	Pair Corr
0.55	EC	Ecopetrol SA ADR	Pair Corr
0.55	XOM	Exxon Mobil Corp	Pair Corr
0.43	PHJMF	PT Hanjaya Mandala	Pair Corr
0.85	MRK	Merck Company Aggressive Push	Pair Corr
0.77	CSCO	Cisco Systems	Pair Corr
0.74	AA	Alcoa Corp	Pair Corr
0.73	DD	Dupont De Nemours	Pair Corr
0.68	CAT	Caterpillar	Pair Corr
0.64	PFE	Pfizer Inc	Pair Corr
0.61	KO	Coca Cola	Pair Corr
0.55	IBM	International Business	Pair Corr
0.5	AXP	American Express	Pair Corr

Related Correlations Analysis

	NICE	LYFT	TTAN	PCTY	MTCH	SOUN	SRAD	LIF	DSGX	APPF
NICE		0.19	0.5	0.66	0.54	0.71	0.88	0.85	0.69	0.77	NICE
LYFT	0.19		0.13	0.21	0.4	-0.19	0.02	-0.01	-0.09	0.44	LYFT
TTAN	0.5	0.13		0.71	0.79	0.21	0.67	0.41	0.79	0.58	TTAN
PCTY	0.66	0.21	0.71		0.83	0.32	0.79	0.52	0.74	0.69	PCTY
MTCH	0.54	0.4	0.79	0.83		0.09	0.67	0.42	0.59	0.79	MTCH
SOUN	0.71	-0.19	0.21	0.32	0.09		0.7	0.81	0.67	0.23	SOUN
SRAD	0.88	0.02	0.67	0.79	0.67	0.7		0.77	0.85	0.73	SRAD
LIF	0.85	-0.01	0.41	0.52	0.42	0.81	0.77		0.64	0.57	LIF
DSGX	0.69	-0.09	0.79	0.74	0.59	0.67	0.85	0.64		0.46	DSGX
APPF	0.77	0.44	0.58	0.69	0.79	0.23	0.73	0.57	0.46		APPF
	NICE	LYFT	TTAN	PCTY	MTCH	SOUN	SRAD	LIF	DSGX	APPF

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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

SRAD	+ 0.88	NICE
LIF	+ 0.85	NICE
DSGX	+ 0.85	SRAD
MTCH	+ 0.83	PCTY
LIF	+ 0.81	SOUN
MTCH	+ 0.79	TTAN

High negative correlations

SOUN	- 0.19	LYFT
DSGX	- 0.09	LYFT
LIF	- 0.01	LYFT

Risk-Adjusted Indicators

There is a big difference between Gitlab Stock performing well and Gitlab 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 Gitlab'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	Treynor Ratio	Potential Upside	Value @Risk	Maximum Drawdown
NICE	1.90	(0.49)	(0.36)	2.26	(3.86)	18.80
LYFT	2.67	(0.16)	(0.02)	4.85	(6.74)	20.43
TTAN	1.86	(0.18)	(0.15)	3.19	(3.80)	12.35
PCTY	1.16	(0.23)	(0.16)	2.75	(2.38)	9.24
MTCH	1.25	(0.28)	(0.22)	2.58	(2.92)	8.03
SOUN	3.59	(0.43)	(0.11)	8.66	(8.04)	22.04
SRAD	1.73	(0.46)	(0.55)	3.88	(4.07)	13.52
LIF	2.48	(0.69)	(0.73)	4.32	(5.16)	26.31
DSGX	1.50	(0.23)	(0.19)	2.08	(2.89)	16.59
APPF	1.59	(0.35)	(0.25)	3.08	(2.99)	12.22

Gitlab Corporate Management

Sabrina Farmer	Chief Officer	Profile
Robert Allen	Chief Officer	Profile
Stella Treas	Chief Staff	Profile
Manu Narayan	Chief Officer	Profile
Sytse Sijbrandij	Chairman, CoFounder	Profile
Christopher Weber	Chief Officer	Profile
Michael McBride	Chief Officer	Profile

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