BlackBerry Correlations

BB Stock

USD 4.49 0.03 0.66%

The current 90-days correlation between BlackBerry and GigaCloud Technology Class is -0.1 (i.e., Good diversification). The correlation of BlackBerry 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.

BlackBerry Correlation With Market

Good diversification

The correlation between BlackBerry 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 BlackBerry and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with BlackBerry Stock

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in BlackBerry. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in bureau of labor statistics.

For information on how to trade BlackBerry Stock refer to our How to Trade BlackBerry Stock guide.

Moving together with BlackBerry Stock

0.85	ZS	Zscaler	Pair Corr
0.83	GETB	GetBusy PLC	Pair Corr
0.8	ANY	Sphere 3D Corp	Pair Corr
0.81	NBIS	Nebius Group NV	Pair Corr
0.61	ORCL	Oracle	Pair Corr
0.67	OSPN	OneSpan	Pair Corr

Moving against BlackBerry Stock

0.86	300379	Beijing Tongtech	Pair Corr
0.81	300311	Surfilter Network	Pair Corr
0.74	PRO	Prophecy International	Pair Corr
0.72	XTKG	X3 Holdings Tech Boost	Pair Corr
0.66	002439	Beijing Venustech	Pair Corr
0.52	RPD	Rapid7 Inc	Pair Corr
0.45	OS	OneStream, Class A	Pair Corr
0.37	IVDA	Iveda Solutions	Pair Corr
0.87	600271	Aisino Corp	Pair Corr
0.78	300365	Beijing Forever Tech	Pair Corr
0.68	300369	Nsfocus Information	Pair Corr
0.44	LSPD	Lightspeed Commerce	Pair Corr
0.42	RBRK	Rubrik,	Pair Corr
0.31	TENB	Tenable Holdings	Pair Corr

Related Correlations Analysis

	HOOD	PLTR	GCT	CRWD	AMC	GME	SNDL	CLOV
HOOD		0.73	0.37	0.7	-0.15	0.59	0.61	-0.05	HOOD
PLTR	0.73		0.5	0.43	-0.23	0.46	0.41	-0.24	PLTR
GCT	0.37	0.5		-0.13	-0.33	0.33	0.64	-0.08	GCT
CRWD	0.7	0.43	-0.13		0.3	0.59	0.13	0.33	CRWD
AMC	-0.15	-0.23	-0.33	0.3		0.09	-0.55	0.35	AMC
GME	0.59	0.46	0.33	0.59	0.09		0.46	0.5	GME
SNDL	0.61	0.41	0.64	0.13	-0.55	0.46		-0.05	SNDL
CLOV	-0.05	-0.24	-0.08	0.33	0.35	0.5	-0.05		CLOV
	HOOD	PLTR	GCT	CRWD	AMC	GME	SNDL	CLOV

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

PLTR	+ 0.73	HOOD
CRWD	+ 0.7	HOOD
SNDL	+ 0.64	GCT
SNDL	+ 0.61	HOOD
GME	+ 0.59	HOOD
GME	+ 0.59	CRWD

High negative correlations

SNDL	- 0.55	AMC
AMC	- 0.33	GCT
CLOV	- 0.24	PLTR
AMC	- 0.23	PLTR
AMC	- 0.15	HOOD
CRWD	- 0.13	GCT

Risk-Adjusted Indicators

There is a big difference between BlackBerry Stock performing well and BlackBerry 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 BlackBerry'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
HOOD	2.58	0.33	0.11	0.23	2.97	(2.64)	5.28	(4.92)	24.69
PLTR	2.01	0.23	0.08	0.26	2.54	(2.23)	4.14	(2.58)	17.20
GCT	3.22	0.30	0.12	0.13	3.35	(3.61)	5.63	(5.55)	39.96
CRWD	1.65	0.00	0.00	0.05	1.93	(1.82)	3.03	(3.04)	16.69
AMC	2.04	(0.24)	0.00	(0.19)	0.00	0.00	4.27	(3.33)	14.66
GME	1.59	(0.07)	0.00	(0.05)	0.00	0.00	3.31	(2.79)	11.31
SNDL	3.51	0.82	0.21	3.58	3.15	(4.43)	7.22	(5.22)	30.28
CLOV	3.15	(0.17)	0.00	(0.03)	0.00	0.00	5.90	(4.12)	27.68

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