Datadog Correlations

DDOG Stock

USD 149.90 1.30 0.86%

The current 90-days correlation between Datadog and Workday is 0.06 (i.e., Significant diversification). The correlation of Datadog 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.

Datadog Correlation With Market

Good diversification

The correlation between Datadog and DJI is -0.01 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Datadog and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Datadog Stock

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

For more detail on how to invest in Datadog Stock please use our How to Invest in Datadog guide.

Moving against Datadog Stock

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0.67	JG	Aurora Mobile	Pair Corr
0.64	CXM	Sprinklr	Pair Corr
0.57	NOW	NowVertical Group	Pair Corr
0.51	BSY	Bentley Systems	Pair Corr
0.46	KXS	Kinaxis	Pair Corr
0.4	GWRE	Guidewire Software	Pair Corr
0.39	U	Unity Software	Pair Corr
0.35	300609	Winner Information	Pair Corr
0.31	DT	Dynatrace Holdings LLC	Pair Corr
0.74	ATG	Auction Technology	Pair Corr
0.64	MTEC	Made Tech Group	Pair Corr
0.58	APTD	Aptitude Software	Pair Corr
0.57	IAM	Income Asset Management	Pair Corr
0.56	002232	Qiming Information	Pair Corr
0.52	ERD	Eroad	Pair Corr
0.49	688246	Goodwill E Health	Pair Corr
0.44	300378	Digiwin Software	Pair Corr
0.41	INTU	Intuit Inc	Pair Corr
0.39	688118	Primeton Information	Pair Corr
0.73	WTC	Wisetech Global	Pair Corr
0.69	FNX	Fonix Mobile plc	Pair Corr

Related Correlations Analysis

	WDAY	ADSK	TEAM	STX	WDC	NXPI	ZS	FICO	CRWV	MSTR
WDAY		0.4	0.19	-0.49	-0.54	0.37	0.65	-0.5	0.73	0.65	WDAY
ADSK	0.4		0.53	-0.58	-0.73	0.67	0.05	-0.56	0.6	0.8	ADSK
TEAM	0.19	0.53		-0.32	-0.37	0.45	0.08	-0.59	0.3	0.38	TEAM
STX	-0.49	-0.58	-0.32		0.95	-0.26	-0.28	0.63	-0.63	-0.73	STX
WDC	-0.54	-0.73	-0.37	0.95		-0.38	-0.31	0.7	-0.73	-0.85	WDC
NXPI	0.37	0.67	0.45	-0.26	-0.38		-0.08	-0.31	0.58	0.57	NXPI
ZS	0.65	0.05	0.08	-0.28	-0.31	-0.08		-0.34	0.59	0.51	ZS
FICO	-0.5	-0.56	-0.59	0.63	0.7	-0.31	-0.34		-0.58	-0.63	FICO
CRWV	0.73	0.6	0.3	-0.63	-0.73	0.58	0.59	-0.58		0.89	CRWV
MSTR	0.65	0.8	0.38	-0.73	-0.85	0.57	0.51	-0.63	0.89		MSTR
	WDAY	ADSK	TEAM	STX	WDC	NXPI	ZS	FICO	CRWV	MSTR

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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

WDC	+ 0.95	STX
MSTR	+ 0.89	CRWV
MSTR	+ 0.8	ADSK
CRWV	+ 0.73	WDAY
FICO	+ 0.7	WDC
NXPI	+ 0.67	ADSK

High negative correlations

MSTR	- 0.85	WDC
CRWV	- 0.73	WDC
MSTR	- 0.73	STX
WDC	- 0.73	ADSK
MSTR	- 0.63	FICO
CRWV	- 0.63	STX

Risk-Adjusted Indicators

There is a big difference between Datadog Stock performing well and Datadog 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 Datadog'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
WDAY	1.52	0.01	(0.03)	0.02	2.22	(1.48)	3.28	(3.15)	15.10
ADSK	0.96	(0.20)	0.00	(0.13)	0.00	0.00	1.58	(2.20)	6.14
TEAM	1.71	(0.20)	0.00	(0.09)	0.00	0.00	4.50	(3.80)	12.54
STX	3.22	0.79	0.21	31.29	3.01	(3.77)	7.72	(5.71)	26.42
WDC	3.27	1.11	0.31	(14.22)	2.68	(3.80)	8.75	(4.82)	22.10
NXPI	1.65	0.11	0.02	5.29	2.35	(1.55)	3.89	(3.87)	10.01
ZS	1.77	(0.33)	0.00	(0.28)	0.00	0.00	3.35	(4.09)	20.25
FICO	2.03	0.29	0.09	0.94	2.47	(2.28)	4.20	(3.29)	27.80
CRWV	3.73	(0.50)	0.00	(0.45)	0.00	0.00	7.60	(8.30)	28.00
MSTR	3.33	(0.98)	0.00	(0.46)	0.00	0.00	5.78	(7.15)	15.70

Datadog Corporate Management

Bryan Lee	Senior Manager	Profile
David Obstler	Chief Officer	Profile
Emilio Escobar	Chief Officer	Profile
Kerry JD	General Secretary	Profile
Alex Rosemblat	Chief Officer	Profile
Angie Holt	Senior Success	Profile

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