Blackline Correlations

BL Stock

USD 55.33 1.27 2.35%

The current 90-days correlation between Blackline and DoubleVerify Holdings is 0.67 (i.e., Poor diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Blackline moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Blackline moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Blackline Correlation With Market

Poor diversification

The correlation between Blackline and DJI is 0.76 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Blackline and DJI in the same portfolio, assuming nothing else is changed.

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Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Blackline. 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 economic analysis.

For more information on how to buy Blackline Stock please use our How to buy in Blackline Stock guide.

Moving together with Blackline Stock

0.81	U	Unity Software	Pair Corr
0.89	DJCO	Daily Journal Corp	Pair Corr
0.8	AZ	A2Z Smart Technologies	Pair Corr
0.96	DT	Dynatrace Holdings LLC	Pair Corr
0.77	DV	DoubleVerify Holdings	Pair Corr
0.86	ZM	Zoom Video Communications	Pair Corr
0.64	DOCU	DocuSign	Pair Corr
0.81	DOMO	Domo Inc	Pair Corr
0.9	VERB	Verb Technology	Pair Corr
0.79	DUOL	Duolingo	Pair Corr
0.84	DUOT	Duos Technologies	Pair Corr
0.9	VTEX	VTEX	Pair Corr
0.88	VTSI	VirTra Inc	Pair Corr
0.84	EGAN	eGain Tech Boost	Pair Corr
0.75	WDAY	Workday Earnings Call This Week	Pair Corr
0.92	ETWO	E2open Parent Holdings	Pair Corr
0.82	BMR	Beamr Imaging Downward Rally	Pair Corr
0.85	BSY	Bentley Systems	Pair Corr
0.64	CXM	Sprinklr	Pair Corr

Moving against Blackline Stock

0.68	QH	Quhuo	Pair Corr
0.48	VMEO	Vimeo Inc	Pair Corr
0.42	ILLRW	Triller Group Symbol Change	Pair Corr
0.69	WETO	Webus International	Pair Corr
0.57	EXFY	Expensify	Pair Corr
0.42	FRGT	Freight Technologies	Pair Corr
0.31	XHLD	TEN Holdings, Common	Pair Corr

Related Correlations Analysis

	U	DJCO	AZ	BL	DT	DV	PD	QH	VS	WK
U		0.69	0.63	0.81	0.83	0.71	-0.06	-0.47	0.44	0.0	U
DJCO	0.69		0.7	0.89	0.88	0.63	0.18	-0.58	0.17	-0.03	DJCO
AZ	0.63	0.7		0.8	0.72	0.36	-0.36	-0.86	0.08	-0.53	AZ
BL	0.81	0.89	0.8		0.96	0.77	0.04	-0.68	0.25	-0.09	BL
DT	0.83	0.88	0.72	0.96		0.81	0.15	-0.58	0.29	0.05	DT
DV	0.71	0.63	0.36	0.77	0.81		0.36	-0.24	0.37	0.4	DV
PD	-0.06	0.18	-0.36	0.04	0.15	0.36		0.5	0.19	0.81	PD
QH	-0.47	-0.58	-0.86	-0.68	-0.58	-0.24	0.5		0.09	0.71	QH
VS	0.44	0.17	0.08	0.25	0.29	0.37	0.19	0.09		0.28	VS
WK	0.0	-0.03	-0.53	-0.09	0.05	0.4	0.81	0.71	0.28		WK
	U	DJCO	AZ	BL	DT	DV	PD	QH	VS	WK

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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

DT	+ 0.96	BL
BL	+ 0.89	DJCO
DT	+ 0.88	DJCO
DT	+ 0.83	U
BL	+ 0.81	U
DV	+ 0.81	DT

High negative correlations

QH	- 0.86	AZ
QH	- 0.68	BL
QH	- 0.58	DT
QH	- 0.58	DJCO
WK	- 0.53	AZ
QH	- 0.47	U

Risk-Adjusted Indicators

There is a big difference between Blackline Stock performing well and Blackline 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 Blackline'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
U	3.40	0.18	0.05	0.13	4.10	(3.55)	7.49	(5.56)	25.73
DJCO	2.00	0.02	0.01	0.05	2.41	(2.12)	4.35	(4.19)	16.65
AZ	3.00	0.71	0.22	3.06	2.90	(3.82)	6.92	(3.49)	25.00
BL	1.68	0.16	0.08	0.17	1.93	(1.93)	4.52	(2.88)	11.92
DT	1.58	0.09	0.04	0.11	2.26	(1.59)	3.94	(3.73)	13.07
DV	2.11	(0.02)	0.00	0.02	2.71	(2.21)	4.36	(4.65)	18.32
PD	2.60	(0.17)	0.00	(0.07)	0.00	0.00	5.03	(7.21)	29.17
QH	2.11	(0.41)	0.00	1.49	0.00	0.00	3.79	(4.83)	15.76
VS	3.15	0.06	0.01	0.14	3.35	(4.08)	10.19	(6.10)	21.45
WK	2.08	(0.43)	0.00	(0.29)	0.00	0.00	3.85	(4.75)	22.30

Blackline Corporate Management

Sumit Johar	Chief Officer	Profile
Jill Knesek	Chief Officer	Profile
Alexandra Geller	VP Relations	Profile
Emily Campbell	Chief Officer	Profile
Dominick DiPaolo	Senior Sales	Profile
Jeremy Ung	Chief Officer	Profile

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