MongoDB Correlations
| MDB Stock | USD 371.94 11.86 3.09% |
The correlation of MongoDB 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 perfect positive correlation (i.e., a correlation coefficient of +1) implies that as MongoDB moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if MongoDB moves in either direction, the perfectly negatively correlated security will move in the opposite direction. If the correlation is 0, the equities are not correlated; they are entirely random. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.
Very weak diversification
The correlation between MongoDB and NYA is 0.45 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding MongoDB and NYA in the same portfolio, assuming nothing else is changed.
MongoDB |
The ability to find closely correlated positions to MongoDB could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace MongoDB 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 MongoDB - 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 MongoDB to buy it.
Moving together with MongoDB Stock
| 0.9 | S | SentinelOne Financial Report 6th of June 2024 | PairCorr |
| 0.91 | ZS | Zscaler Financial Report 6th of June 2024 | PairCorr |
| 0.67 | VRSN | VeriSign Sell-off Trend | PairCorr |
| 0.8 | EVCM | EverCommerce Financial Report 14th of May 2024 | PairCorr |
| 0.67 | EVTC | Evertec | PairCorr |
| 0.78 | CETXP | Cemtrex Pref | PairCorr |
Moving against MongoDB Stock
| 0.72 | NN | Nextnav Acquisition Corp Financial Report 8th of May 2024 | PairCorr |
| 0.7 | VERI | Veritone Financial Report 7th of May 2024 | PairCorr |
| 0.69 | GB | Global Blue Group | PairCorr |
| 0.55 | SQ | Block Inc Earnings Call This Week | PairCorr |
| 0.48 | DTSS | Datasea | PairCorr |
Related Correlations Analysis
| Click cells to compare fundamentals | Check Volatility | Backtest Portfolio |
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
| High negative correlations
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Risk-Adjusted Indicators
There is a big difference between MongoDB Stock performing well and MongoDB 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 MongoDB'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| ZS | 1.94 | (0.56) | 0.00 | (0.28) | 0.00 | 4.02 | 18.41 | |||
| NET | 2.35 | (0.02) | 0.03 | 0.07 | 2.30 | 4.61 | 24.93 | |||
| CRWD | 1.92 | (0.08) | (0.01) | 0.03 | 2.54 | 3.76 | 14.87 | |||
| PATH | 2.02 | (0.41) | 0.00 | (0.08) | 0.00 | 3.75 | 15.39 | |||
| CHKP | 0.85 | (0.10) | 0.00 | (0.13) | 0.00 | 1.32 | 7.49 | |||
| RPD | 1.81 | (0.42) | 0.00 | (0.13) | 0.00 | 3.16 | 13.45 | |||
| TENB | 1.50 | (0.17) | 0.00 | (0.02) | 0.00 | 2.50 | 12.07 | |||
| BAND | 3.30 | 0.35 | 0.12 | 0.23 | 3.46 | 5.87 | 58.73 |
Be your own money manager
Our tools can tell you how much better you can do entering a position in MongoDB 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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Equity ForecastingUse basic forecasting models to generate price predictions and determine price momentum |
| All Next | Launch Module |
MongoDB Corporate Management
Elected by the shareholders, the MongoDB's board of directors comprises two types of representatives: MongoDB inside directors who are chosen from within the company, and outside directors, selected externally and held independent of MongoDB. The board's role is to monitor MongoDB's management team and ensure that shareholders' interests are well served. MongoDB'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, MongoDB's outside directors are responsible for providing unbiased perspectives on the board's policies.
| Andrew Stephens | General Secretary | Profile | |
| Mindy Lieberman | Chief Officer | Profile | |
| Cedric Pech | Chief Officer | Profile | |
| Harsha Jalihal | Chief Officer | Profile |
Already Invested in MongoDB?
The danger of trading MongoDB is mainly related to its market volatility and Company specific events. As an investor, you must understand the concept of risk-adjusted return before you start trading. The most common way to measure the risk of MongoDB is by using the Sharpe ratio. The ratio expresses how much excess return you acquire for the extra volatility you endure for holding a more risker asset than MongoDB. The Sharpe ratio is calculated by using standard deviation and excess return to determine reward per unit of risk. To understand how volatile MongoDB is, you must compare it to a benchmark. Traditionally, the risk-free rate of return is the rate of return on the shortest-dated U.S. Treasury, such as a 3-year bond.
When determining whether MongoDB offers a strong return on investment in its stock, a comprehensive analysis is essential. The process typically begins with a thorough review of MongoDB's financial statements, including income statements, balance sheets, and cash flow statements, to assess its financial health. Key financial ratios are used to gauge profitability, efficiency, and growth potential of Mongodb Stock. Outlined below are crucial reports that will aid in making a well-informed decision on Mongodb Stock: Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in MongoDB. Also, note that the market value of any company could be tightly coupled with the direction of predictive economic indicators such as signals in unemployment. For information on how to trade MongoDB Stock refer to our How to Trade MongoDB Stock guide.Note that the MongoDB information on this page should be used as a complementary analysis to other MongoDB's statistical models used to find the right mix of equity instruments to add to your existing portfolios or create a brand new portfolio. You can also try the Portfolio Optimization module to compute new portfolio that will generate highest expected return given your specified tolerance for risk.
Complementary Tools for MongoDB Stock analysis
When running MongoDB's price analysis, check to measure MongoDB's market volatility, profitability, liquidity, solvency, efficiency, growth potential, financial leverage, and other vital indicators. We have many different tools that can be utilized to determine how healthy MongoDB is operating at the current time. Most of MongoDB's value examination focuses on studying past and present price action to predict the probability of MongoDB's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move MongoDB's price. Additionally, you may evaluate how the addition of MongoDB to your portfolios can decrease your overall portfolio volatility.
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Is MongoDB's industry expected to grow? Or is there an opportunity to expand the business' product line in the future? Factors like these will boost the valuation of MongoDB. If investors know MongoDB will grow in the future, the company's valuation will be higher. The financial industry is built on trying to define current growth potential and future valuation accurately. All the valuation information about MongoDB listed above have to be considered, but the key to understanding future value is determining which factors weigh more heavily than others.
Earnings Share (2.49) | Revenue Per Share 23.622 | Quarterly Revenue Growth 0.268 | Return On Assets (0.05) | Return On Equity (0.20) |
The market value of MongoDB is measured differently than its book value, which is the value of MongoDB that is recorded on the company's balance sheet. Investors also form their own opinion of MongoDB's value that differs from its market value or its book value, called intrinsic value, which is MongoDB's true underlying value. Investors use various methods to calculate intrinsic value and buy a stock when its market value falls below its intrinsic value. Because MongoDB's market value can be influenced by many factors that don't directly affect MongoDB's underlying business (such as a pandemic or basic market pessimism), market value can vary widely from intrinsic value.
Please note, there is a significant difference between MongoDB's value and its price as these two are different measures arrived at by different means. Investors typically determine if MongoDB is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, MongoDB's price is the amount at which it trades on the open market and represents the number that a seller and buyer find agreeable to each party.