Correlation Between Gitlab and Amplitude

Can any of the company-specific risk be diversified away by investing in both Gitlab and Amplitude at the same time? Although using a correlation coefficient on its own may not help to predict future stock returns, this module helps to understand the diversifiable risk of combining Gitlab and Amplitude into the same portfolio, which is an essential part of the fundamental portfolio management process.

By analyzing existing cross correlation between Gitlab Inc and Amplitude, you can compare the effects of market volatilities on Gitlab and Amplitude and check how they will diversify away market risk if combined in the same portfolio for a given time horizon. You can also utilize pair trading strategies of matching a long position in Gitlab with a short position of Amplitude. Check out your portfolio center. Please also check ongoing floating volatility patterns of Gitlab and Amplitude.

Diversification Opportunities for Gitlab and Amplitude

-0.14

Correlation Coefficient

Gitlab  Amplitude

Good diversification

The 3 months correlation between Gitlab and Amplitude is -0.14. Overlapping area represents the amount of risk that can be diversified away by holding Gitlab Inc and Amplitude in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Amplitude and Gitlab is a relative statistical measure of the degree to which these equity instruments tend to move together. The correlation coefficient measures the extent to which returns on Gitlab Inc are associated (or correlated) with Amplitude. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Amplitude has no effect on the direction of Gitlab i.e., Gitlab and Amplitude go up and down completely randomly.

Pair Corralation between Gitlab and Amplitude

Given the investment horizon of 90 days Gitlab Inc is expected to generate 1.25 times more return on investment than Amplitude. However, Gitlab is 1.25 times more volatile than Amplitude. It trades about 0.07 of its potential returns per unit of risk. Amplitude is currently generating about -0.09 per unit of risk. If you would invest  4,042  in Gitlab Inc on August 8, 2025 and sell it today you would earn a total of  541.00  from holding Gitlab Inc or generate 13.38% return on investment over 90 days.

Time Period	3 Months [change]
Direction	Moves Against
Strength	Insignificant
Accuracy	100.0%
Values	Daily Returns

Gitlab Inc  vs.  Amplitude

Gitlab Inc

Risk-Adjusted Performance

Mild

Compared to the overall equity markets, risk-adjusted returns on investments in Gitlab Inc are ranked lower than 5 (%) of all global equities and portfolios over the last 90 days. Despite somewhat uncertain essential indicators, Gitlab sustained solid returns over the last few months and may actually be approaching a breakup point.

Amplitude

Risk-Adjusted Performance

Weakest

Over the last 90 days Amplitude has generated negative risk-adjusted returns adding no value to investors with long positions. Despite weak performance in the last few months, the Stock's basic indicators remain quite persistent which may send shares a bit higher in December 2025. The latest mess may also be a sign of long-standing up-swing for the company institutional investors.

Pair Trading with Gitlab and Amplitude

The main advantage of trading using opposite Gitlab and Amplitude positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Gitlab position performs unexpectedly, Amplitude can make up some of the losses. Pair trading also minimizes risk from directional movements in the market. For example, if an entire industry or sector drops because of unexpected headlines, the short position in Amplitude will offset losses from the drop in Amplitude's long position.

The idea behind Gitlab Inc and Amplitude pairs trading is to make the combined position market-neutral, meaning the overall market's direction will not affect its win or loss (or potential downside or upside). This can be achieved by designing a pairs trade with two highly correlated stocks or equities that operate in a similar space or sector, making it possible to obtain profits through simple and relatively low-risk investment.

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Note that this page's information should be used as a complementary analysis to find the right mix of equity instruments to add to your existing portfolios or create a brand new portfolio. You can also try the Commodity Directory module to find actively traded commodities issued by global exchanges.