TechTarget Common Correlations

TTGT Stock

USD 5.34 0.12 2.30%

The current 90-days correlation between TechTarget Common Stock and Perion Network is 0.32 (i.e., Weak diversification). The correlation of TechTarget Common 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.

TechTarget Common Correlation With Market

Very weak diversification

The correlation between TechTarget Common Stock and DJI is 0.49 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding TechTarget Common Stock and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with TechTarget Stock

Check out World Market Map to better understand how to build diversified portfolios, which includes a position in TechTarget Common Stock. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in census.

Moving together with TechTarget Stock

0.64	WPP	WPP PLC ADR	Pair Corr
0.67	ILLM	illumin Holdings	Pair Corr

Moving against TechTarget Stock

0.42	000607	Huamei Holding	Pair Corr
0.34	301102	Mega info Media	Pair Corr
0.33	301313	Guangzhou Frontop Digital	Pair Corr
0.5	300612	Shunya International	Pair Corr
0.37	603729	Shanghai Longyun Advg	Pair Corr
0.35	IS3	I Synergy Group	Pair Corr

Related Correlations Analysis

	PERI	UPXI	ZH	NCMI	ATEX	THRY	IHRT	MCS	GTN	BOC
PERI		-0.21	-0.42	0.19	0.1	-0.19	0.23	0.39	0.47	0.14	PERI
UPXI	-0.21		0.83	0.62	-0.51	0.89	-0.76	-0.85	-0.27	0.54	UPXI
ZH	-0.42	0.83		0.42	-0.51	0.64	-0.61	-0.68	-0.46	0.15	ZH
NCMI	0.19	0.62	0.42		-0.56	0.49	-0.41	-0.39	0.06	0.46	NCMI
ATEX	0.1	-0.51	-0.51	-0.56		-0.38	0.16	0.37	0.0	-0.19	ATEX
THRY	-0.19	0.89	0.64	0.49	-0.38		-0.68	-0.9	-0.14	0.66	THRY
IHRT	0.23	-0.76	-0.61	-0.41	0.16	-0.68		0.78	0.57	-0.37	IHRT
MCS	0.39	-0.85	-0.68	-0.39	0.37	-0.9	0.78		0.36	-0.49	MCS
GTN	0.47	-0.27	-0.46	0.06	0.0	-0.14	0.57	0.36		0.28	GTN
BOC	0.14	0.54	0.15	0.46	-0.19	0.66	-0.37	-0.49	0.28		BOC
	PERI	UPXI	ZH	NCMI	ATEX	THRY	IHRT	MCS	GTN	BOC

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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

THRY	+ 0.89	UPXI
ZH	+ 0.83	UPXI
MCS	+ 0.78	IHRT
BOC	+ 0.66	THRY
THRY	+ 0.64	ZH
NCMI	+ 0.62	UPXI

High negative correlations

MCS	- 0.9	THRY
MCS	- 0.85	UPXI
IHRT	- 0.76	UPXI
IHRT	- 0.68	THRY
MCS	- 0.68	ZH
IHRT	- 0.61	ZH

Risk-Adjusted Indicators

There is a big difference between TechTarget Stock performing well and TechTarget Common 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 TechTarget Common'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
PERI	1.45	(0.15)	0.00	(0.04)	0.00	0.00	3.07	(2.75)	14.14
UPXI	5.48	(1.67)	0.00	(0.35)	0.00	0.00	11.51	(11.01)	29.01
ZH	2.07	(0.23)	0.00	(0.34)	0.00	0.00	3.10	(4.82)	21.72
NCMI	1.72	(0.22)	0.00	(0.09)	0.00	0.00	4.00	(3.74)	15.70
ATEX	2.22	0.26	0.08	0.70	2.56	(2.26)	3.98	(4.28)	20.21
THRY	3.13	(1.27)	0.00	(0.49)	0.00	0.00	4.32	(6.28)	36.13
IHRT	3.76	0.55	0.17	0.83	2.96	(5.56)	12.38	(5.73)	44.17
MCS	1.47	0.20	0.12	0.32	1.32	(1.75)	4.53	(2.82)	11.90
GTN	2.36	(0.16)	0.00	(0.05)	0.00	0.00	4.91	(4.53)	13.88
BOC	1.39	(0.22)	0.00	(0.59)	0.00	0.00	2.17	(3.93)	16.99

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