GreenSky Correlations

GSKY
 Stock
  

USD 10.20  0.00  0.00%   

The correlation of GreenSky is a statistical measure of how it moves in relation to other equities. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as GreenSky moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if GreenSky moves in either direction, the perfectly negatively correlated security will move in the opposite direction. If the correlation is 0, the equities are not correlated; they are entirely random. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.
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The ability to find closely correlated positions to GreenSky could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace GreenSky when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back GreenSky - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling GreenSky to buy it.

Moving together with GreenSky

0.73ACIWAci WorldwidePairCorr
0.66AKAMAkamai TechnologiesPairCorr
0.76ALTRAltair Engineering Downward RallyPairCorr
0.71APPNAppian Corp ClPairCorr
0.79ARQQArqit QuantumPairCorr
0.73AUIDIpsidy IncPairCorr
0.75BANDBandwidthPairCorr
0.66BBBlackberryPairCorr
0.84BKKTBakkt HldgsPairCorr
0.78BLINBridgeline Digital Fiscal Year End 19th of December 2022 PairCorr
0.8BLZEBackblaze IncPairCorr
0.74CCCSCCC Intelligent SolutionsPairCorr
0.74CGNTCognyte SoftwarePairCorr

Moving against GreenSky

0.68BKIBlack KnightPairCorr

Related Correlations

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Correlation Matchups

The Correlation Coefficient is a useful tool to identify correlated or non-correlated securities, which is essential in developing a diversified portfolio. It tells us the relationship between two positions you have in your portfolio or considering acquiring. Over a given time period, the two securities movetogether 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   
BACSCO
AXPCSCO
AXPBA
AXPHD
HDCSCO
BAHD
  
High negative correlations   
XOMCSCO
XOMBA
IBMCSCO
BAIBM
XOMAXP
AXPIBM

GreenSky Competition Risk-Adjusted Indicators

Nowadays, there is a big difference between GreenSky stock performing well and GreenSky company doing well compared to the competition. There are way too many exceptions to the normal that investors can tell for sure what's good or bad unless they analyze GreenSky's multiple risk-adjusted performance indicators. These indicators are quantitative in nature and help investors forecast volatility and risk-adjusted expected returns across various positions.

View Currently Related Equities

One of the popular trading techniques among algorithmic traders is to use market-neutral strategies where every trade hedges away some risk. Because there are two separate transactions required, even if one position performs unexpectedly, the other equity can make up some of the losses. Below are some of the equities that can be combined with GreenSky stock to make a market-neutral strategy. Peer analysis of GreenSky could also be used in its relative valuation, which is a method of valuing GreenSky by comparing valuation metrics with similar companies.

GreenSky Corporate Directors

GreenSky corporate directors refer to members of a GreenSky board of directors. The board of directors generally takes responsibility for the GreenSky's affairs and long-term direction of the entity. A corporate director does not make decisions for the corporation on his own. As a member of the board of directors, she or he must function as a part of a group that makes decisions on behalf of the business only by the board of directors' meetings. To pass a resolution, a majority of GreenSky's board members must vote for the resolution. The GreenSky board of directors' duties also include the election, removal, and supervision of officers, including the adoption, amendment, and repeal of bylaws.
Joel Babbit - DirectorProfile
Robert Sheft - DirectorProfile
Gregg Freishtat - Independent DirectorProfile
John Flynn - Independent DirectorProfile

Investing GreenSky

You need to understand the risk of investing before taking a position in GreenSky. The danger of trading GreenSky is mainly related to its market volatility and company specific events. As an investor, you must understand the concept of risk-adjusted return before you start trading. The most common way to measure the risk of GreenSky is by using the Sharpe ratio. The ratio expresses how much excess return you acquire for the extra volatility you endure for holding a more risker asset than GreenSky. The Shape ratio is calculated by using standard deviation and excess return to determine reward per unit of risk. To understand how volatile GreenSky is, you must compare it to a benchmark. Traditionally, the risk-free rate of return is the rate of return on the shortest-dated U.S. Treasury, such as a 3-year bond.
Please check Risk vs Return Analysis. Note that the GreenSky information on this page should be used as a complementary analysis to other GreenSky's statistical models used to find the right mix of equity instruments to add to your existing portfolios or create a brand new portfolio. You can also try Premium Stories module to follow Macroaxis premium stories from verified contributors across different equity types, categories and coverage scope.

Other Tools for GreenSky Stock

When running GreenSky price analysis, check to measure GreenSky's market volatility, profitability, liquidity, solvency, efficiency, growth potential, financial leverage, and other vital indicators. We have many different tools that can be utilized to determine how healthy GreenSky is operating at the current time. Most of GreenSky's value examination focuses on studying past and present price action to predict the probability of GreenSky's future price movements. You can analyze the entity against its peers and financial market as a whole to determine factors that move GreenSky's price. Additionally, you may evaluate how the addition of GreenSky to your portfolios can decrease your overall portfolio volatility.
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