Cerence Correlations
| 0S6 Stock | EUR 9.50 0.58 5.75% |
The current 90-days correlation between Cerence and MicroStrategy Incorporated is 0.28 (i.e., Modest diversification). The correlation of Cerence 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.
Cerence Correlation With Market
Poor diversification
The correlation between Cerence and DJI is 0.72 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Cerence and DJI in the same portfolio, assuming nothing else is changed.
Cerence |
The ability to find closely correlated positions to Cerence could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Cerence 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 Cerence - 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 Cerence to buy it.
Moving together with Cerence Stock
| 0.75 | SYP | Synopsys | PairCorr |
| 0.64 | WI1 | Winnebago Industries | PairCorr |
| 0.67 | UN0 | Uniper SE | PairCorr |
| 0.61 | NSE | Nomura Holdings | PairCorr |
Moving against Cerence Stock
| 0.4 | UT80 | Uber Technologies Earnings Call Today | PairCorr |
| 0.36 | TLIK | TELES Informationstech | PairCorr |
| 0.35 | AUD | Autodesk | PairCorr |
| 0.31 | 5AP | Palo Alto Networks | PairCorr |
| 0.61 | DBPD | Xtrackers ShortDAX | PairCorr |
| 0.34 | A0U | AZINCOURT URANIUM | PairCorr |
Related Correlations Analysis
| 0.73 | 0.84 | 0.87 | 0.75 | 0.82 | 0.71 | HUBS | ||
| 0.73 | 0.75 | 0.48 | 0.36 | 0.95 | 0.69 | MSTR | ||
| 0.84 | 0.75 | 0.74 | 0.6 | 0.79 | 0.42 | NOW | ||
| 0.87 | 0.48 | 0.74 | 0.86 | 0.61 | 0.52 | PEGA | ||
| 0.75 | 0.36 | 0.6 | 0.86 | 0.56 | 0.54 | SHOP | ||
| 0.82 | 0.95 | 0.79 | 0.61 | 0.56 | 0.75 | SOUN | ||
| 0.71 | 0.69 | 0.42 | 0.52 | 0.54 | 0.75 | SQ3 | ||
Risk-Adjusted Indicators
There is a big difference between Cerence Stock performing well and Cerence 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 Cerence'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| HUBS | 2.35 | (0.81) | 0.00 | (0.77) | 0.00 | 4.21 | 18.01 | |||
| MSTR | 3.50 | (1.03) | 0.00 | (1.43) | 0.00 | 5.78 | 16.26 | |||
| NOW | 1.75 | (0.71) | 0.00 | (1.16) | 0.00 | 2.43 | 14.07 | |||
| PEGA | 1.95 | (0.63) | 0.00 | (0.71) | 0.00 | 4.17 | 15.04 | |||
| SHOP | 2.12 | (0.50) | 0.00 | (0.45) | 0.00 | 4.84 | 13.66 | |||
| SOUN | 3.04 | (1.15) | 0.00 | (0.46) | 0.00 | 6.32 | 16.04 | |||
| SQ3 | 2.08 | (0.45) | 0.00 | (0.67) | 0.00 | 2.64 | 15.00 |
Be your own money manager
Our tools can tell you how much better you can do entering a position in Cerence 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.Did you try this?
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Performance AnalysisCheck effects of mean-variance optimization against your current asset allocation |
| All Next | Launch Module |
Cerence Corporate Management
Elected by the shareholders, the Cerence's board of directors comprises two types of representatives: Cerence inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Cerence. The board's role is to monitor Cerence's management team and ensure that shareholders' interests are well served. Cerence'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, Cerence's outside directors are responsible for providing unbiased perspectives on the board's policies.
| Katherine Roman | Corporate VP | Profile | |
| Dennis Close | VP Treasurer | Profile | |
| Nils Lenke | VP Applications | Profile | |
| Kate Hickman | VP Relations | Profile | |
| Nils Schanz | Executive Technology | Profile |