Procore Technologies Correlations

PCOR Stock

USD 72.35 2.10 2.82%

The current 90-days correlation between Procore Technologies and Dayforce is -0.19 (i.e., Good diversification). The correlation of Procore Technologies 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. If the correlation is 0, the equities are not correlated; they are entirely random.

Procore Technologies Correlation With Market

Significant diversification

The correlation between Procore Technologies and DJI is 0.05 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Procore Technologies and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Procore Stock

Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in Procore Technologies. 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.

To learn how to invest in Procore Stock, please use our How to Invest in Procore Technologies guide.

Moving against Procore Stock

0.57	WISH	Wishpond Technologies	Pair Corr
0.49	JG	Aurora Mobile	Pair Corr
0.41	PD	Pagerduty	Pair Corr
0.39	VENZ	Venzee Technologies	Pair Corr
0.38	GWRE	Guidewire Software Downward Rally	Pair Corr
0.48	ERD	Eroad	Pair Corr
0.46	ALFA	Alfa Financial Software	Pair Corr
0.41	VR1	Vection Technologies	Pair Corr
0.39	MTEC	Made Tech Group	Pair Corr
0.38	CMG	Computer Modelling	Pair Corr
0.37	ID	Identillect Technologies Split	Pair Corr
0.34	ALT	Altitude Group Plc	Pair Corr
0.45	CSU	Constellation Software	Pair Corr
0.43	NVQ	Noviqtech	Pair Corr
0.42	WNDR	WonderFi Technologies	Pair Corr
0.41	PRCH	Porch Group	Pair Corr

Related Correlations Analysis

	DAY	GTM	QXO	MANH	PEGA	PAYC	IDCC	ESTC	MNDY	DUOL
DAY		-0.32	0.28	-0.34	-0.15	-0.46	-0.45	-0.43	-0.44	-0.51	DAY
GTM	-0.32		0.12	0.66	0.58	0.73	0.25	0.57	0.82	0.54	GTM
QXO	0.28	0.12		0.34	0.11	0.24	-0.2	-0.25	0.12	0.24	QXO
MANH	-0.34	0.66	0.34		0.04	0.95	-0.21	0.33	0.7	0.86	MANH
PEGA	-0.15	0.58	0.11	0.04		0.2	0.58	0.37	0.51	0.13	PEGA
PAYC	-0.46	0.73	0.24	0.95	0.2		-0.04	0.42	0.8	0.91	PAYC
IDCC	-0.45	0.25	-0.2	-0.21	0.58	-0.04		0.22	0.25	0.05	IDCC
ESTC	-0.43	0.57	-0.25	0.33	0.37	0.42	0.22		0.53	0.31	ESTC
MNDY	-0.44	0.82	0.12	0.7	0.51	0.8	0.25	0.53		0.74	MNDY
DUOL	-0.51	0.54	0.24	0.86	0.13	0.91	0.05	0.31	0.74		DUOL
	DAY	GTM	QXO	MANH	PEGA	PAYC	IDCC	ESTC	MNDY	DUOL

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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

PAYC	+ 0.95	MANH
DUOL	+ 0.91	PAYC
DUOL	+ 0.86	MANH
MNDY	+ 0.82	GTM
MNDY	+ 0.8	PAYC
DUOL	+ 0.74	MNDY

High negative correlations

DUOL	- 0.51	DAY
PAYC	- 0.46	DAY
IDCC	- 0.45	DAY
MNDY	- 0.44	DAY
ESTC	- 0.43	DAY
MANH	- 0.34	DAY

Risk-Adjusted Indicators

There is a big difference between Procore Stock performing well and Procore Technologies 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 Procore Technologies' 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
DAY	0.14	0.00	(0.34)	0.11	0.09	(0.16)	0.37	(0.25)	1.39
GTM	1.77	(0.41)	0.00	(0.22)	0.00	0.00	3.72	(4.63)	10.86
QXO	2.42	(0.14)	0.00	0.02	2.55	(3.00)	5.57	(3.95)	13.96
MANH	1.33	(0.45)	0.00	(0.34)	0.00	0.00	1.96	(3.39)	9.96
PEGA	1.73	(0.04)	(0.02)	0.04	2.16	(1.72)	4.12	(3.61)	19.04
PAYC	1.40	(0.52)	0.00	(0.33)	0.00	0.00	2.13	(4.28)	13.60
IDCC	2.07	0.08	0.02	0.16	2.68	(2.06)	3.68	(3.96)	14.13
ESTC	2.17	(0.25)	0.00	(0.68)	0.00	0.00	3.82	(3.76)	20.71
MNDY	2.57	(0.37)	0.00	(0.48)	0.00	0.00	4.21	(5.83)	21.78
DUOL	3.05	(0.50)	0.00	3.05	0.00	0.00	6.04	(5.57)	34.02

Procore Technologies Corporate Management

Sandra Benson	Head Transformation	Profile
Kevin Oconnor	Non-Executive Independent Director	Profile
Alexandra Geller	Head Relations	Profile
William Griffith	Non-Executive Independent Director	Profile
Linden Hillenbrand	Chief Officer	Profile
Joy Durling	Chief Officer	Profile
Lawrence Stack	Chief Officer	Profile

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