Datadog Correlations

0A3O Stock

121.39 2.14 1.73%

The current 90-days correlation between Datadog and IDEXX Laboratories is 0.02 (i.e., Significant diversification). The correlation of Datadog 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.

Datadog Correlation With Market

Good diversification

The correlation between Datadog and DJI is -0.03 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Datadog and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to Datadog could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Datadog 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 Datadog - 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 Datadog to buy it.

Moving together with Datadog Stock

0.7

0LC3

Synchrony Financial

Pair Corr

Moving against Datadog Stock

0.53	0HCI	Alibaba Group Holding	Pair Corr
0.47	HHPD	Hon Hai Precision	Pair Corr
0.41	0HBH	Air Products Chemicals	Pair Corr

Related Correlations Analysis

	TYT	0J8P	0I6K	0HBH	0P4F	0LC3	0I50	0R29
TYT		0.07	-0.03	0.18	0.63	0.35	0.4	0.43	TYT
0J8P	0.07		0.16	0.28	0.42	0.19	-0.17	0.63	0J8P
0I6K	-0.03	0.16		0.26	-0.03	-0.06	-0.23	-0.13	0I6K
0HBH	0.18	0.28	0.26		0.22	-0.23	0.35	0.16	0HBH
0P4F	0.63	0.42	-0.03	0.22		0.46	0.34	0.76	0P4F
0LC3	0.35	0.19	-0.06	-0.23	0.46		-0.04	0.48	0LC3
0I50	0.4	-0.17	-0.23	0.35	0.34	-0.04		0.12	0I50
0R29	0.43	0.63	-0.13	0.16	0.76	0.48	0.12		0R29
	TYT	0J8P	0I6K	0HBH	0P4F	0LC3	0I50	0R29

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

0R29	+ 0.76	0P4F
0P4F	+ 0.63	TYT
0R29	+ 0.63	0J8P
0R29	+ 0.48	0LC3
0LC3	+ 0.46	0P4F
0R29	+ 0.43	TYT

High negative correlations

0LC3	- 0.23	0HBH
0I50	- 0.23	0I6K
0I50	- 0.17	0J8P
0R29	- 0.13	0I6K
0LC3	- 0.06	0I6K
0I50	- 0.04	0LC3

Risk-Adjusted Indicators

There is a big difference between Datadog Stock performing well and Datadog 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 Datadog'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
TYT	1.23	0.34	0.13	2.61	0.97	(1.74)	3.36	(2.24)	7.32
0J8P	1.39	0.21	0.07	(6.46)	1.16	(1.78)	2.86	(2.17)	17.25
0I6K	1.67	(0.01)	(0.01)	0.10	1.86	(1.94)	4.17	(3.54)	10.43
0HBH	1.24	0.06	(0.01)	0.32	2.29	(1.23)	2.08	(2.02)	20.35
0P4F	1.41	0.28	0.13	0.95	1.15	(1.70)	3.50	(2.22)	17.68
0LC3	1.32	0.08	0.02	0.25	2.04	(1.40)	3.15	(2.36)	14.22
0I50	1.52	0.21	0.04	(0.56)	1.53	(1.76)	3.29	(3.01)	6.94
0R29	1.47	0.39	0.24	1.44	0.95	(1.95)	3.19	(2.07)	16.25

Be your own money manager

Our tools can tell you how much better you can do entering a position in Datadog 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.

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Datadog Corporate Management

Elected by the shareholders, the Datadog's board of directors comprises two types of representatives: Datadog inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Datadog. The board's role is to monitor Datadog's management team and ensure that shareholders' interests are well served. Datadog'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, Datadog's outside directors are responsible for providing unbiased perspectives on the board's policies.

David Obstler	Chief Officer	Profile
Adam Blitzer	Chief Officer	Profile
Yanbing Li	Chief Officer	Profile
Sean Walters	Chief Officer	Profile
Emilio Escobar	Chief Officer	Profile
Kerry JD	General Secretary	Profile
David Galloreese	Chief Officer	Profile

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