Oblong Correlations

OBLG Stock

USD 2.82 0.15 5.05%

The current 90-days correlation between Oblong Inc and Uber Technologies is 0.18 (i.e., Average diversification). The correlation of Oblong 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.

Oblong Correlation With Market

Very weak diversification

The correlation between Oblong Inc and DJI is 0.44 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Oblong Inc and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Oblong Stock

Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in Oblong Inc. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in inflation.

Moving together with Oblong Stock

0.82	NOW	NowVertical Group	Pair Corr
0.74	KXS	Kinaxis Earnings Call This Week	Pair Corr
0.61	LMN	Lumine Group	Pair Corr
0.61	TOI	Topicus Earnings Call This Week	Pair Corr

Moving against Oblong Stock

0.79	MLNK	Meridianlink	Pair Corr
0.74	OTEX	Open Text Corp Earnings Call This Week	Pair Corr
0.71	JAMF	Jamf Holding Earnings Call This Week	Pair Corr
0.69	VMEO	Vimeo Inc	Pair Corr
0.62	WCT	Wellchange Holdings	Pair Corr
0.61	BB	BlackBerry	Pair Corr
0.58	IOT	Samsara	Pair Corr
0.58	HTCR	HeartCore Enterprises	Pair Corr
0.58	MOGO	Mogo Inc Earnings Call This Week	Pair Corr
0.38	NXPL	Nextplat Corp	Pair Corr
0.82	DDS	Dillards,	Pair Corr
0.82	CABHF	Carlsberg AS	Pair Corr
0.77	TIXT	TELUS International Earnings Call This Week	Pair Corr
0.74	FSTR	LB Foster	Pair Corr
0.71	RAPP	Rapport Therapeutics, Earnings Call This Week	Pair Corr
0.7	RZLV	Rezolve AI Limited	Pair Corr
0.65	USGO	US GoldMining Common	Pair Corr
0.55	VIVC	Vivic Corp	Pair Corr
0.44	DRMMF	Dream International	Pair Corr

Related Correlations Analysis

	UBER	APP	SHOP	INTU	NOW	MU	SAP	IBM	CSCO	LRCX
UBER		0.74	0.45	-0.62	0.24	0.46	-0.65	0.45	-0.03	0.52	UBER
APP	0.74		0.63	-0.58	0.45	0.79	-0.61	0.77	0.25	0.82	APP
SHOP	0.45	0.63		-0.5	0.14	0.86	-0.22	0.77	0.72	0.84	SHOP
INTU	-0.62	-0.58	-0.5		-0.05	-0.53	0.72	-0.33	-0.07	-0.48	INTU
NOW	0.24	0.45	0.14	-0.05		0.37	-0.32	0.48	-0.02	0.36	NOW
MU	0.46	0.79	0.86	-0.53	0.37		-0.37	0.93	0.59	0.98	MU
SAP	-0.65	-0.61	-0.22	0.72	-0.32	-0.37		-0.28	0.23	-0.35	SAP
IBM	0.45	0.77	0.77	-0.33	0.48	0.93	-0.28		0.57	0.95	IBM
CSCO	-0.03	0.25	0.72	-0.07	-0.02	0.59	0.23	0.57		0.59	CSCO
LRCX	0.52	0.82	0.84	-0.48	0.36	0.98	-0.35	0.95	0.59		LRCX
	UBER	APP	SHOP	INTU	NOW	MU	SAP	IBM	CSCO	LRCX

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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

LRCX	+ 0.98	MU
LRCX	+ 0.95	IBM
IBM	+ 0.93	MU
MU	+ 0.86	SHOP
LRCX	+ 0.84	SHOP
LRCX	+ 0.82	APP

High negative correlations

SAP	- 0.65	UBER
INTU	- 0.62	UBER
SAP	- 0.61	APP
INTU	- 0.58	APP
MU	- 0.53	INTU
INTU	- 0.5	SHOP

Risk-Adjusted Indicators

There is a big difference between Oblong Stock performing well and Oblong 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 Oblong'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
UBER	1.41	0.08	0.03	0.20	1.67	(1.49)	3.62	(2.71)	8.86
APP	2.91	0.79	0.20	0.88	3.38	(3.31)	7.54	(5.07)	26.00
SHOP	2.28	0.35	0.20	0.23	2.07	(2.76)	5.57	(3.61)	29.81
INTU	1.11	(0.38)	0.00	(0.42)	0.00	0.00	1.92	(2.76)	7.05
NOW	1.48	(0.19)	0.00	(0.04)	0.00	0.00	2.79	(3.05)	7.76
MU	2.57	0.89	0.33	0.57	2.09	(2.90)	6.15	(3.91)	14.44
SAP	1.18	(0.25)	0.00	(0.21)	0.00	0.00	1.95	(3.72)	7.04
IBM	1.25	0.17	0.13	0.24	1.31	(1.37)	2.29	(2.46)	9.28
CSCO	1.05	0.04	0.01	0.15	1.22	(1.17)	2.05	(1.78)	7.18
LRCX	2.04	0.58	0.21	0.37	2.41	(2.18)	4.68	(4.29)	14.48

Oblong Corporate Management

David Clark	Treasurer CFO	Profile
Kevin Parent	VP Solutions	Profile
Michael Brown	Chief Officer	Profile
Mary Norris	VP EMEA	Profile
Sam Moore	Senior Operations	Profile
Stewart Armstrong	Chief Officer	Profile

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