Shopify Correlations
| 307 Stock | EUR 108.72 1.12 1.04% |
The current 90-days correlation between Shopify and Square Inc is 0.37 (i.e., Weak diversification). The correlation of Shopify 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.
Shopify Correlation With Market
Good diversification
The correlation between Shopify and DJI is -0.08 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Shopify and DJI in the same portfolio, assuming nothing else is changed.
Shopify |
The ability to find closely correlated positions to Shopify could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Shopify 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 Shopify - 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 Shopify to buy it.
Moving together with Shopify Stock
| 0.62 | 4S0 | ServiceNow Earnings Call This Week | PairCorr |
| 0.82 | 5Q5 | Snowflake | PairCorr |
| 0.82 | TT8 | Trade Desk | PairCorr |
| 0.84 | 3QD | Datadog | PairCorr |
| 0.89 | MSF | Microsoft | PairCorr |
| 0.89 | MSF | Microsoft | PairCorr |
| 0.89 | MSF | Microsoft | PairCorr |
| 0.89 | MSF | Microsoft | PairCorr |
| 0.8 | HEI | Heidelberg Materials | PairCorr |
| 0.83 | KGHA | KGHM Polska Miedz | PairCorr |
| 0.83 | DBPE | Xtrackers LevDAX | PairCorr |
| 0.88 | E908 | Lyxor 1 | PairCorr |
Moving against Shopify Stock
Related Correlations Analysis
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Be your own money manager
Our tools can tell you how much better you can do entering a position in Shopify without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.Did you try this?
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Shopify Corporate Management
Elected by the shareholders, the Shopify's board of directors comprises two types of representatives: Shopify inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Shopify. The board's role is to monitor Shopify's management team and ensure that shareholders' interests are well served. Shopify's inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, Shopify's outside directors are responsible for providing unbiased perspectives on the board's policies.
| Bharati Balakrishnan | Country India | Profile | |
| Katie Keita | IR Contact Officer | Profile | |
| Jessica Hertz | Gen Sec | Profile | |
| Jeff CPA | Chief Officer | Profile | |
| Kaz Nejatian | VP COO | Profile |