Snap Correlations

SNAP Stock

USD 8.43 0.30 3.69%

The current 90-days correlation between Snap Inc and Twilio Inc is 0.21 (i.e., Modest diversification). The correlation of Snap 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.

Snap Correlation With Market

Modest diversification

The correlation between Snap Inc and DJI is 0.24 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Snap Inc and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Snap Stock

Check out World Market Map to better understand how to build diversified portfolios, which includes a position in Snap 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 nation.

Moving against Snap Stock

0.78	HD	Home Depot	Pair Corr
0.71	AVAL	Grupo Aval	Pair Corr
0.66	FNMFO	Federal National Mortgage	Pair Corr
0.62	META	Meta Platforms	Pair Corr
0.61	WFC-PL	Wells Fargo Earnings Call This Week	Pair Corr
0.54	DOMH	Dominari Holdings	Pair Corr
0.52	DSVSF	Discovery Metals Corp	Pair Corr
0.43	BCH	Banco De Chile	Pair Corr
0.41	BAC-PL	Bank of America Earnings Call This Week	Pair Corr
0.4	NTIP	Network 1 Technologies	Pair Corr
0.38	HWH	HWH International	Pair Corr
0.35	KTOS	Kratos Defense Security	Pair Corr
0.84	AGPYY	Agile Group Holdings	Pair Corr
0.74	PYTCF	Playtech plc	Pair Corr
0.68	AMRX	Amneal Pharmaceuticals,	Pair Corr
0.67	FARO	FARO Technologies	Pair Corr
0.63	ACSAY	ACS Actividades De	Pair Corr
0.56	BASFY	BASF SE ADR	Pair Corr
0.51	94986RYP0	US94986RYP09	Pair Corr
0.46	TR	Tootsie Roll Industries	Pair Corr
0.41	PBNAF	Pembina Pipeline	Pair Corr
0.33	UI	Ubiquiti Networks	Pair Corr
0.31	BMEZ	BlackRock Health Sciences	Pair Corr

Related Correlations Analysis

	TWLO	FVRR	SPOT	BIDU	PINS	GOOGL	META	GOOG
TWLO		0.4	-0.38	-0.44	0.64	-0.62	-0.55	-0.62	TWLO
FVRR	0.4		0.45	0.08	-0.04	-0.2	-0.54	-0.2	FVRR
SPOT	-0.38	0.45		0.3	-0.36	0.26	0.14	0.26	SPOT
BIDU	-0.44	0.08	0.3		-0.67	0.89	0.1	0.89	BIDU
PINS	0.64	-0.04	-0.36	-0.67		-0.52	0.06	-0.52	PINS
GOOGL	-0.62	-0.2	0.26	0.89	-0.52		0.34	1.0	GOOGL
META	-0.55	-0.54	0.14	0.1	0.06	0.34		0.34	META
GOOG	-0.62	-0.2	0.26	0.89	-0.52	1.0	0.34		GOOG
	TWLO	FVRR	SPOT	BIDU	PINS	GOOGL	META	GOOG

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

GOOG	+ 1.0	GOOGL
GOOGL	+ 0.89	BIDU
GOOG	+ 0.89	BIDU
PINS	+ 0.64	TWLO
SPOT	+ 0.45	FVRR
FVRR	+ 0.4	TWLO

High negative correlations

PINS	- 0.67	BIDU
GOOG	- 0.62	TWLO
GOOGL	- 0.62	TWLO
META	- 0.55	TWLO
META	- 0.54	FVRR
GOOG	- 0.52	PINS

Risk-Adjusted Indicators

There is a big difference between Snap Stock performing well and Snap 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 Snap'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
TWLO	2.54	(0.21)	0.00	(0.08)	0.00	0.00	5.36	(6.01)	25.86
FVRR	1.97	(0.35)	0.00	(0.24)	0.00	0.00	3.85	(4.75)	13.94
SPOT	1.67	(0.15)	0.00	(0.13)	0.00	0.00	3.81	(3.79)	13.73
BIDU	2.34	0.68	0.21	1.67	2.41	(2.57)	6.56	(3.00)	19.44
PINS	1.42	(0.21)	0.00	(0.36)	0.00	0.00	2.79	(3.45)	13.78
GOOGL	1.05	0.46	0.45	0.78	0.37	(1.33)	3.13	(1.44)	10.93
META	1.23	(0.04)	(0.05)	0.00	1.36	(1.41)	2.12	(2.27)	14.28
GOOG	1.04	0.46	0.45	0.76	0.31	(1.28)	3.04	(1.51)	10.80

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