Endava Correlations

DAVA Stock

USD 6.30 0.19 3.11%

The current 90-days correlation between Endava and Materialise NV is 0.12 (i.e., Average diversification). The correlation of Endava 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.

Endava Correlation With Market

Average diversification

The correlation between Endava and DJI is 0.1 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Endava and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Endava Stock

Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in Endava. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as various price indices.

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

Moving together with Endava Stock

0.71	TRNR	Interactive Strength	Pair Corr
0.66	WNC	Wabash National	Pair Corr
0.65	DIS	Walt Disney	Pair Corr
0.61	HD	Home Depot	Pair Corr
0.71	BA	Boeing	Pair Corr

Moving against Endava Stock

0.67	IBM	International Business	Pair Corr
0.63	JNJ	Johnson Johnson	Pair Corr
0.49	DD	Dupont De Nemours	Pair Corr
0.44	TRV	The Travelers Companies	Pair Corr
0.43	AXP	American Express	Pair Corr
0.41	XOM	Exxon Mobil Corp	Pair Corr
0.37	KO	Coca Cola Aggressive Push	Pair Corr

Related Correlations Analysis

	MTLS	EDU	PASTF	YECO	BWOFY	COE	BEDU
MTLS		0.59	0.0	0.42	0.76	0.2	0.85	MTLS
EDU	0.59		0.0	0.35	0.58	0.76	0.59	EDU
PASTF	0.0	0.0		0.0	0.0	0.0	0.0	PASTF
YECO	0.42	0.35	0.0		0.28	0.13	0.47	YECO
BWOFY	0.76	0.58	0.0	0.28		0.26	0.7	BWOFY
COE	0.2	0.76	0.0	0.13	0.26		0.14	COE
BEDU	0.85	0.59	0.0	0.47	0.7	0.14		BEDU
	MTLS	EDU	PASTF	YECO	BWOFY	COE	BEDU

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

BEDU	+ 0.85	MTLS
BWOFY	+ 0.76	MTLS
COE	+ 0.76	EDU
BEDU	+ 0.7	BWOFY
EDU	+ 0.59	MTLS
BEDU	+ 0.59	EDU

High negative correlations

BEDU	- 0.0	PASTF
COE	- 0.0	PASTF
BWOFY	- 0.0	PASTF
YECO	- 0.0	PASTF
PASTF	- 0.0	EDU
PASTF	- 0.0	MTLS

Risk-Adjusted Indicators

There is a big difference between Endava Stock performing well and Endava 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 Endava'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
MTLS	2.77	0.27	0.10	0.24	2.64	(3.36)	5.74	(4.12)	18.56
EDU	1.86	0.15	0.07	0.19	2.00	(2.03)	4.39	(3.62)	15.60
PASTF	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
YECO	1.25	0.38	0.00	1.83	0.00	0.00	0.00	0.00	23.46
BWOFY	1.00	0.29	0.00	(0.51)	0.00	0.00	0.00	(1.53)	37.89
COE	2.95	0.41	0.13	0.27	2.76	(4.20)	9.42	(4.41)	25.25
BEDU	2.04	0.33	0.08	(0.57)	2.76	(2.84)	3.98	(3.55)	21.46

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